MetaFactory Debuts ROBOT Governance Token

https://defirate.com/metafactory-robot/

MetaFactory – a digiphysical creation platform – has released the blueprint for the ROBOT governance token with a retroactive distribution.

We first covered MetaFactory upon the debut of their Genesis Bomber, combining elements of DeFi auctions and scarcity with digiphysical tokenized wearables to offer a unique product blend for web3 natives.

Now, MetaFactory looks to expand on that vision by adding a native token – ROBOT – into the mix to better align stakeholder incentives. Thanks to ROBOT, MetaFactory will now be broken down into three segments:

  • MetaFactory DAO – For all governance decisions
  • MetaFactor LLC – For company operations
  • MetaFactory BotYard – Community multisig for the custody and distribution of ROBOT.

All together, ROBOT is used to govern the growing brand with distribution baked into the platform’s growth. In short, tokens are issued into the supply as more sales are conducted through MetaFactory, with ROBOT being routed to buyers, creators, and community participants relative to their monetary and social contributions.

Citing Placeholder’s Buyback model, excess ROBOT is likely to be recycled for constant liquidity, using Balancer AMMs to continually capitalize the system.

“The revenue from sales will go to the MetaFactory Entity and will be used to pay for recurring expenses and production costs for goods. ROBOT holders can then vote on how the surplus profits should be spent. For example, they could be locked in a Balancer liquidity pool to create a permanent incentive model with continuous issuance while preserving a fixed supply of 420k tokens.”

Here’s a look at how the genesis 420k ROBOT is issues relative to the various sales MetaFactory reaches as a whole.

Outside of the Genesis Bomber, you’ve likely seen MetaFactory’s merch floated around via the YFI hoodie, famously touting the signature tag ‘I Test in Prod’ optimally designed for the YFI logo to be visible on Zoom calls. This close tie between DeFi and physical wearables capturing the latest trend is one that shows strong promise for the community-owned and operated brand platform.

With this new announcement, purchasers of the Genesis Bomber, Wicked Sunday Club or any of MetaFactory’s merch should be on the lookout for ROBOT tokens in their wallet used at purchase in the coming week. There will be no tokensale for ROBOT, and future tokens can only be earned through platform usage.

The launch of ROBOT comes in line with a growing trend of tokenization, with many projects choosing to issue governance power to their most value-added actors in the form of retroactive distributions. Unique to ROBOT is the ability for anyone with more than 500 tokens to receive access to the LLC’s operational expenses, offering a transparent view into the MetaFactory kimono historically kept private by the issue entities.

Overall, the fresh rebrand and launch of ROBOT are a strong signal that MetaFactory aims to stay on the cutting edge of web3 culture, one we’ll be keeping a close eye on here at DeFi Rate.

To stay up with MetaFactory, be sure to follow them on Twitter!

The post MetaFactory Debuts ROBOT Governance Token appeared first on DeFi Rate.

iEarn Releases YFI Governance Token with Liquidity Mining

https://defirate.com/yfi-governance-token/

iEarn – a fan-favorite liquidity aggregator – has shared the blueprints for a YFI governance token in tandem with a suite of new liquidity pools.

Best popularized for the Y Curvepool, iEarn offers a number of avenues for users to earn passive interest for supplying capital to any number of the protocols supported pools. Historically, iEarn pools have earned some of the best lending rates in all of DeFi, with the yearn.finance pool aggregating $8M in AUM in tandem with a historical return of just over 10% APY since launch.

Today, iEarn introduced a suite of new, existing, and discontinued products including:

  • yTrade – Trade top stablecoins DAI, USDC, USDT, TUSD and sUSD with up to 1000x leverage using an initiation fee or 250x without an initiation fee.
  • iLiquidiate – An automated liquidation engine for Aave defaults.
  • iLeverage – Open a 5x leveraged Dai Vault using USDC as collateral.
  • iPool – A y.curve.fi <> sUSD curve.fi meta pool offering the best rates between Curve’s two most popular pools. (Discontinued)
  • ySwap – A stable AMM allowing for single-sided liquidity provision while collecting interest and rewards.
  • *.finance – TBA credit delegation platform using Aave undercollateralized loans.

What emerges is a sophisticated lending and arbitrage protocol that routes liquidity across different corners of DeFi to earn the best returns. Using lending protocols like Curve, dYdX, Compound, and Aave along with AMMs like Uniswap and Balancer opens the door for cross-protocol returns extremely difficult to mimic as an average user.

As if that wasn’t enough, the incentive to use iEarn just got a little sweeter.

YFI Governance Token

Following in line with the wider trend of liquidity mining, YFI can ONLY be earned through usage of any of the aforementioned pools. This is in stark contrast to something like COMP and BAL in which a portion was held by the time and another portion was offered in an Initial DEX Offering. Instead, the only way to earn tokens is through usage, and iEarn was very blatant about stating the token has 0 value outside of governance.

It’s likely that the most popular way to earn will be through the yCurve stablecoin pool, and Curve graciously put together a guide on this works here.

YFI Rewards Pool

Outside of openly memeing that YFI has 0 financial value, the project has created a pretty strong token model under the hood. Off the bat, iEarn pools aggregate a suite of rewards and fees including (but not limited to in the future):

  • yearn.finance interest
  • COMP
  • CRV
  • curve.fi/y trading fees
  • ytrade.finance leverage fees and liquidation bonuses
  • yswap.exchange system fees
  • iliquidate.finance liquidation bonuses
  • system dust (unassigned interest or fees)

All of these fees are collected on a regular basis and routed to a Vault which normalizes all the above-mentioned income to aDAI. Once in aDAI, YFI holders can claim a pro-rata share of that reward pool directly from the contract address by burning YFI tokens.

iEarn has stated that they will be releasing an interface for the burning and redemption of these fees in the coming weeks. Last but not least, iEarn has also shipped a staking dashboard to make it easy for users to stake and unstake their position across any of iEarn’s various liquidity pools.

Closing Thoughts

Underpinning this whole ecosystem is an incredibly meta ecosystem at play. While you need 1000 IQ DeFi knowledge to get involved, those who are savvy enough are sure to reap the rewards of the most organic, strongly-designed DeFi token to date.

As aggregate liquidity continues to heat up, we’ll keep reminding users that it’s a good time to be a yield farmer – so long as you keep in mind that there’s a lot of inherent risks that come with it.

Until then, be sure to keep up with iEarn on Twitter.

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The post iEarn Releases YFI Governance Token with Liquidity Mining appeared first on DeFi Rate.