APY Finance Announces Liquidity Mining for APY Governance Tokens


APY.Finance – a pooled yield aggregator – has announced a liquidity mining rewards program starting on October 1st at 8PM EST.

Users will be able to deposit three stablecoins – DAI, USDC, and USDT – to begin earning the platform’s unreleased APY governance token.

Launch details

The APY.Finance contract will be available at https://apy.finance at 8 EST (12am UTC) later this evening, with liquidity mining rewards being accrued and vested after the platform’s APY token is officially launched.

APY tokens will provide a governance function for the platform, and will also be distributed via a token-generation event (TGE) at a later date.

The initial liquidity provided to the platform will assist in bootstrapping the platform’s total value locked (TVL), and eventually benefit from economies of scale once yield-farming strategies go live.

How it Works

Upon depositing funds to the contract, users will receive APT tokens (not to be confused with the APY governance token), which provides them with a claim on their share of assets in the pool.

Just like Balancer Pool Tokens (BPT) or Uniswap LP shares (UNI), users can claim back their share of stablecoins from the asset pool by burning their APT tokens via the APY.Finance smart contract.

By holding APT tokens, users will also automatically be mining APY tokens. Once the platform is fully functional, this will entitle them to both yield-farming and liquidity mining returns.

As described by the APY.Finance team, its APT tokens are comparable to Balancer’s BPT tokens, which represent a user’s stake in the Balancer pool.

Likewise, the APY token can be compared to Balancer’s BAL token, which is used for governance on liquidity mining and general protocol upgrades.

Liquidity Mining Details

31.2% of the APY token supply has been allocated to liquidity mining rewards, for a total of 31,200,000 APY tokens. 900,000 of these will be mined within the first month of liquidity mining, good for 0.9% of the total supply.

Rewards will be proportional to the percentage of liquidity provided to the pool over the course of the program. After the TGE, the APY token will be vested on a block-by-block basis over a 6-month period, using the Synthetix vesting contract.

What is APY.Finance?

APY Finance is an automated yield-farming platform which automatically allocated user’s pooled funds to the best risk-adjusted farming strategies in the DeFi ecosystem.

By pooling funds, it aims to save users precious time and gas fees on transactions, allowing anyone to benefit from yield-farming returns – no matter their account value.

Although they’re not yet enabled, APY.Finance’s governance mechanisms will be added at a later date once the system is “battle-tested”.

The platform’s smart contract has been audited by Halborn, who have also recently audited Bancor v2 and PowerTrade.

To stay up with APY Finance, follow them on Twitter!

The post APY Finance Announces Liquidity Mining for APY Governance Tokens appeared first on DeFi Rate.

Akropolis Shares Yield Aggreator Delphi & New ADEL Governance Token


Akropolis – a platform for community creation –  has announced a new yield-farming aggregator project, Delphi, now live on testnet.


Underwriting the new robo yield farmer is a new governance token ADEL –  specifically used to govern the Delphi product.

Following in the footsteps of the community-favorite YFI, ADEL will only be distributed through the usage of Delphi, with no initial sale and just a 5% premine allocated to development vested for 3 months following a 3-month cliff.

This product level governance is an emerging trend in the DeFi ecosystem, tying together the best aspects of liquidity mining with a synthesized focus on very specific feature upgrades and integrations.

Fulfilling their original vision

Delphi brings the Akropolis team several steps closer to their original vision: Creating a widely-accessible decentralized savings fund that can withstand fiat-based economic shocks.

Labeled as a yield-farming aggregator, Delphi makes DeFi earning opportunities accessible to everyone, specifically non-technical users.

With Delphi, users can reallocate funds between several stablecoin pools within a single transaction, all within a user-friendly user interface.

One of the flagship features is a dollar-cost averaging (DCA) feature, which automatically invests in selected pools on a periodic basis. This is a very popular strategy offered by platforms such as Coinbase, which removes both the manual effort and the challenge of volatility on investment timing.

The Delphi user experience

The Delphi dashboard presents user balances, pool allocations, and returns in an easy-to-understand way. It also allows the user to save on time and gas costs while switching between pools, by facilitating such changes in a single transaction.

Stablecoin balances in Delphi will earn interest through Curve, while the invested balance will earn interest and exposure to the price of BTC, ETH, and other assets.

Due to gas costs, automatic DCA investment is currently only facilitated on a weekly basis into selected pools, but may be more flexible in the future.

The ADEL token

Delphi ownership will be allocated via the fair distribution of a new governance token, ADEL. The ADEL token is specific to the Delphi platform and completely separate from Akropolis’ existing AKRO token.

ADEL will hold governance rights, as well as a potential claim on any fees that may be incorporated on Delphi in the future.

As illustrated in the intro, ADEL can only be earned by providing liquidity to Delphi, AKRO, and future tokens in tandem with active governance.

60,000,000 ADEL tokens will be minted as a fixed supply and be released gradually over a 6-month period.

A whopping 95% of the tokens will be distributed to active users and liquidity providers, while the remaining 5% will be reserved for development, maintenance, and auditing.

Closing Thoughts

Akropolis will release an FAQ on Delphi and ADEL in the coming days, along with details on a bug bounty program and liquidity mining.

The time-frame for the completion of several major platform components is extremely short. The user interface, Balancer, and Uniswap pools reward contracts, and controlled mainnet are all due to be completed by 20th August.

All and all, it’s clear that the race for automated yield farming is really heating up. Whether it by yEarn’s new yVaults, Rari Capital’s new platform or a suite of other projects in the pipeline, the time to harvest alpha is quickly dwindling.

While Delphi is currently only live on testnet, we’ll be keeping a close eye on the product over the coming weeks.

To stay up with Akropolis for all things Delpha, follow the project on Twitter.

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The post Akropolis Shares Yield Aggreator Delphi & New ADEL Governance Token appeared first on DeFi Rate.