pTokens Launches pNetwork DAO with PNT Staking

https://defirate.com/pnetwork-dao/

pTokens – a trustless bridge for interoperability – has summoned its DAO to handle all protocol governance using PNT tokens.

Built by Provable Things, pNetwork offers a platform to port assets to and from Ethereum using wrappers called pTokens. The most popular version of these wrappers is pBTC – an Ethereum-based version of Bitcoin similar to renBTC. Underpinning the pNetwork is a set of decentralized validators who post a bond in PNT governance tokens to operate a node on the network. Whereas this aspect was a great way for validators to have skin in the game, it’s largely limited to a technical audience.

Today, PNT rewards can be earned by any user by joining the newly launched pNetwork DAO and participating in governance. Built on Aragon, users stake PNT for governance-wrapped tokens called daoPNT. To encourage users to participate in voting, pNetwork is allocating up to 28.35M PNT (47.25% of the total supply) via governance reward inflation.

Similar to other governance-based rewards like KyberDAO and Nexus Mutual, PNT is only rewarded to active contributors. As illustrated in the DAO interworking post:

“A DAO member is considered active and only becomes eligible for rewards if they are daoPNT holders and the check confirms that they have voted on at least all proposals except one within the two week period.”

The rewards are projected to provide 42% APR in the first year followed by 21% in the second year. Stated another way, if you stake your PNT via the pNetwork DAO and vote on every proposal, you will earn a 42% return on your initial PNT contribution (denominated in PNT).

The pNetwork DAO features a 7 day cooldown period and is expected to kick off it’s genesis governance polls in the coming weeks!

DeFi DAOs Heat Up

The launch of the pNetwork DAO comes in tandem with a suite of other DeFi DAOs from projects like Kyber, Aave, Curve and bZx.

While Curve will also be built on Aragon, it’s interesting to recognize that many DeFi projects have opted in to building their own framework instead of using an out of the box solution like Aragon. Still, Aragon-based tooling offers much more flexibility in the future upgradability of these DAOs, and is quickly becoming the leading platform for large organizations to field future governance.

Backed by the recent ANT liquidity program, Aragon will also look to ship a native chain this year, allowing DAOs to port their governance to a low cost, real-time transaction relayer which harnesses all the benefits of Aragon in a scalable fashion.

Over the next few months, it will be super interesting to see the different levels of engagement each of these DAOs receives. While using liquidity mining to incentivize participation is a step in the right direction, the bigger conversation is around making governance interesting enough that tokenholders would participate with no rewards in mind.

If nothing else, it’s great to see governance taking center stage and is a trend that we at DeFi Rate are extremely excited to watch unfold.

To stay up with pTokens for all DAO related events, be sure to follow them on Twitter or join the conversation on Discord!

<span data-sheets-value="{"1":2,"2":"<script>(function() {
window.mc4wp = window.mc4wp || {
listeners: [],
forms: {
on: function(evt, cb) {
window.mc4wp.listeners.push(
{
event : evt,
callback: cb
}
);
}
}
}
})();
</script><form id="mc4wp-form-2" class="mc4wp-form mc4wp-form-151" method="post" data-id="151" data-name="Email List Signup" ><div class="mc4wp-form-fields"><p>
<bold> Sign up for This Week in DeFi</bold>
</p>

<input type="email" name="EMAIL" required="" placeholder="Email Address"><input type="submit" value="Subscribe"></div><label style="display: none !important;">Leave this field empty if you’re human: <input type="text" name="_mc4wp_honeypot" value="" tabindex="-1" autocomplete="off" /></label><input type="hidden" name="_mc4wp_timestamp" value="1596236074" /><input type="hidden" name="_mc4wp_form_id" value="151" /><input type="hidden" name="_mc4wp_form_element_id" value="mc4wp-form-2" /><div class="mc4wp-response"></div></form>"}” data-sheets-userformat='{“2″:513,”3”:{“1″:0},”12”:0}’>

Sign up for This Week in DeFi

The post pTokens Launches pNetwork DAO with PNT Staking appeared first on DeFi Rate.

Rarible Launches NFT Governance Token With RARI Liquidity Mining

https://defirate.com/rarible-rari-token/

Rarible – a leading NFT exchange – has announced details for a native governance token, RARI.

As one of the first to tokenize governance rights in the NFT sector, Rarible is rolling out a unique marketplace liquidity mining scheme to reward its collectors for usage.

“Over half of RARI’s total supply is reserved for sellers and buyers on Rarible marketplace, who will receive RARI through weekly distribution according to weekly purchases and sales volumes.”

This unique integration of DeFi’s hottest trend integrated into a more consumer-friendly fashion put Rarible on our radar as they look to introduce a suite of well designed incentives to spur marketplace growth. Best of all, RARI is not being sold in an Initial DEX Offering, a strong signal that the company has all the best intentions in mind for the rollout of their new token.

What’s to Know?

Rarible is set to issue 25,000,000 RARI in total, starting at an initial value of $0.34/token. This valuation comes on the back of the marketplaces $2.5M preseed valuation and is set to issue 75,000 RARI or roughly $25,500 in rewards each week through marketplace mining. Here’s a look at how the supply breaks down.

Just as with Compound‘s even split to lenders and borowers, Rarible will allocate the 75,000 RARI weekly reward pool evenly between buyers and sellers. Rarible has made it clear that the marketplace liquidity mining process can be amended as necessary, and this in and of itself is one of the key areas where RARI governance is likely to come into play.

Over time, Rarible will look to transition to a DAO for the decentralized governance of future protocol decisions. In the meantime, RARI will act as soft signalling for important protocol decisions like fees, features and reserve pool allocation. Rarible has hinted they will be looking into something like Aragon Court for mediation, suggesting that the DAO will likely be Aragon-based.

RARI Airdrop

To kickstart this initiative, Rarible will be hosting two airdrops to reward both new and existing users for their support of the platform. Here’s who it’s set to shape up:

All in all, this airdrop dynamic sets a fascinating retroactive precedent where those who were most active prior to the airdrop being announced receive the most upside. Plus, for any NFT owners who happened to come into possession of a Rarible NFT, there might be an unexpected residual benefit stemming as a result.

Governance Tokens Heat Up

After a multi-year drought in which utility tokens were laughed out of the building, it’s truly amazing to see all the ways in which different crypto-based products are leveraging governance tokens to highlight the best and brightest aspects of web 3 technology.

As someone who has only used Rarible a very select few amount of times, this new incentive program immediately makes me want to dive deeper – a sure signal that many others are likely to do the same.

While it’s unclear if NFT-based governance will be as hot a topic as DeFi governance, there’s no denying the two are closely intertwined. With this, we’ll be sure to keep a close eye on the project as the distribution pans out of the coming months.

To stay up with Rarible, follow them on Twitter or check out the marketplace today!

<span data-sheets-value="{"1":2,"2":"<script>(function() {
window.mc4wp = window.mc4wp || {
listeners: [],
forms: {
on: function(evt, cb) {
window.mc4wp.listeners.push(
{
event : evt,
callback: cb
}
);
}
}
}
})();
</script><form id="mc4wp-form-5" class="mc4wp-form mc4wp-form-151" method="post" data-id="151" data-name="Email List Signup" ><div class="mc4wp-form-fields"><p>
<bold> Sign up for This Week in DeFi</bold>
</p>

<input type="email" name="EMAIL" required="" placeholder="Email Address"><input type="submit" value="Subscribe"></div><label style="display: none !important;">Leave this field empty if you’re human: <input type="text" name="_mc4wp_honeypot" value="" tabindex="-1" autocomplete="off" /></label><input type="hidden" name="_mc4wp_timestamp" value="1594852222" /><input type="hidden" name="_mc4wp_form_id" value="151" /><input type="hidden" name="_mc4wp_form_element_id" value="mc4wp-form-5" /><div class="mc4wp-response"></div></form>"}” data-sheets-userformat='{“2″:513,”3”:{“1″:0},”12”:0}’>

Sign up for This Week in DeFi

The post Rarible Launches NFT Governance Token With RARI Liquidity Mining appeared first on DeFi Rate.