How to use your PHZT for Governance voting on TLT Finance

https://medium.com/@tltphzt/how-to-use-your-phzt-for-governance-voting-on-tlt-finance-45cf84df922f?source=rss------cryptocurrency-5

It has been a while, but the day is almost here!. Governance is about to be enabled for TLT Finance and you will be able to use your warm…

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APY Finance Announces Liquidity Mining for APY Governance Tokens

https://defirate.com/apy-finance-liquidity-mining/

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.

Init Ageron — Redefining Yield Farming Governance Through Unparalleled Decentralization

https://medium.com/@ageronio/init-ageron-redefining-yield-farming-governance-through-unparalleled-decentralization-407ebfe71514?source=rss------cryptocurrency-5

Since the dawn of mankind, centralized hierarchies determined the ways and rules our lives are based on. Today, economies and technology…

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Liquidity Mining Will Drive An Explosion Of New Governance Token Models & Community Incentives

https://medium.com/crypto-oracle/liquidity-mining-will-drive-an-explosion-of-new-governance-token-models-community-incentives-6099508acf74?source=rss------bitcoin-5

In February this year, at DAOfest, which was part of ETH Denver, I gave a talk titled “6 Thoughts On Community”, which included a few…

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Curve’s Mysterious CRV Governance Token Launch

https://defirate.com/curve-crv-launch/

Curve – the third-largest DeFi DEX – has officially launched its long-awaited governance token, CRV.

As you can see in the tweet, the way in which Curve launched fit right in with the mysterious roots the team has had since launch.

For those who missed it, an anonymous account spent $8k in gas to deploy all of the Curve contracts, leading to a two-hour grey area where community members were told not to engage as the CRV token was not officially *live*. However, this was then confirmed by the team as being secure, admin keyless contracts – hence the weird way in which the token became *official*. Here’s a full recap on the events that transpired yesterday evening.

None the less, Curve quickly pivoted by releasing a front-end for CRV liquidity mining. Users who provide liquidity to Curve stake their positions via ‘Gauges’ to be eligible for CRV rewards. More on how this works here.

Curve has quickly broken it’s previous ATH’s for Total Value Locked, currently sitting at just south of $700M at the time of writing – good for 4th place on the DeFi Pulse leaderboard. This comes in tandem with breaking the $2B cumulative volume mark, one which has only been reached by leading projects like Uniswap so far to date.

As illustrated in our initial coverage of the pre-launch, Curve liquidity providers will compete for a daily allocation of 766k CRV tokens. Each day, 2M CRV is estimated to enter the circulating supply as early LPs and investor tokens unlock in real-time.

For more long-term supporters, CRV can be locked via the Curve DAO to earn a multiplier on liquidity mining rewards. Curve has provided a number of time intervals, with each granting higher bonuses up to a maximum of 2.5x for those who choose to lock for 4 years.

Early LP’s are also able to claim their rewards in real-time through the Vesting dashboard. Seeing as early LP rewards are vested over the course of a year, these LPs will be able to claim 1/365th of their rewards each day.

CRV Madness Ensues

Almost immediately after launch, the race to acquire CRV went ballistic with both Binance and Poloniex listing CRV within 5 minutes of launch.

This was accompanied by DEXs like Matcha having their front-end crash as users rushed to submit limit orders to take advantage of the gas-promotion to save on transaction costs. (which peaked at $30/swap upon launch)

CRV price traded as high as $50/token, giving the project a fully deluded (h/t Gavin for the term) valuation of ~$182B. For reference, that’s over half of Bitcoin’s fully diluted valuation. This token value gave early LPs returns as high as 10,000% APY, with returns now hovering around 2000% APY at the time of writing.

While Curve took extensive time to map out a strong governance model in which time-weighted voting plays a key role in voting, it’s clear that the DeFi token craze has thrown all bets out the window. Many are now theorizing that the mysterious launch may have been coordinated with the Curve themselves, essentially acting as a legal loophole in terms of sufficient decentralization.

Regardless of where you fall, it’s impossible to ignore Curve. To stay up with the project and any new updates, be sure to follow them on Twitter or join the Discord to chime in.

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The post Curve’s Mysterious CRV Governance Token Launch appeared first on DeFi Rate.

Akropolis Shares Yield Aggreator Delphi & New ADEL Governance Token

https://defirate.com/akropolis-delphi-adel-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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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!

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Aave Raises $3M for Aavenomics Governance Migration

https://defirate.com/aave-governance-raise/

Aave – a sector-leading lending protocol – has closed a $3M round on the back of LEND tokens in lieu of their upcoming Aavenomics upgrade.

Positioning themselves as a protocol for money market creation, Aave’s latest round saw $3M worth of contributions from Three Arrows Capital and Framework Ventures when LEND was $0.10 per token. Since then, LEND has soared to over $0.25 per token ahead of an Aavenomics governance upgrade in which LEND will migrate to AAVE with a suite of new protocol incentives.

This comes in tandem with other reputable funds like ParaFi and Spencer Noon’s DTC Capital, both of which have made it public that they also hold significant positions in LEND. DeFi Rate has also received intel that many other prominent DeFi funds have been accumulating positions in LEND, giving good credence to the DeFi token‘s parabolic growth in recent weeks.

Aavenomics Teaser

The raise foreshadows the launch of Aavenomics – a governance upgrade in which the migration to AAVE will introduce new protocol incentives through staking and yield farming. In short, users will stake AAVE as insurance against protocol deficits in return for both AAVE rewards and the vast majority of protocol fees. The staking module is expected to offer both vanilla AAVE staking in tandem with an 80/20 AAVE/WETH Balancer pool. This gives flexibility for those looking to stake with just AAVE while incentivizing those to provide market liquidity to Balancer in exchange for BAL rewards and swap fees.

AAVE staking comes in tandem with yield farming rewarding from protocol usage, similar to COMP and BAL liquidity mining schemas which have driven exponential growth in recent weeks. While the details have yet to be released, we expect users to earn AAVE rewards from lending and borrowing any of Aave’s 20+ supported assets along with special liquidity incentives similar to Synthetix‘s LP rewards.

Distributed Governance

Outside of vast protocol incentives, AAVE governance will distribute key decision making to tokenholders though onchain voting. Using Aave Improvement Proposals (AIPs), AAVE holders will dictate key protocol, market and risk policies for both Aave and different money markets like the Uniswap Money Market. Aave has vocalized that its governance process is meant to stimulate large amounts of discussion before going to an onchain vote, contrary to what we’ve seen so far with Compound and it’s 48-hour window voting periods.

These upgrades will be publicized in a formal Aavenomics governance paper in the next two weeks, kicking off a countdown to Genesis Governance in which LEND tokenholders will be able to vote on the start of AAVE migration in tandem with the proposed incentive allocations mentioned above.

Credit Delegation

Last week, we covered Aave’s proposal for Credit Delegation, essentially letting any two parties enter into undercollateralized lending agreements to use a counterparties capital as collateral to draw a line of credit with aTokens. While the program is set to be largely limited to OTC trading desks and exchanges to start, Credit Delegation is another example of Aave’s continuous innovation in the vibrant DeFi sector.

Aave Continues to Shine

As if it wasn’t clear enough, Aave has solidified itself as a force to be reckoned with in the great crypto landscape. With top firms publicizing their token holdings in tandem with the upcoming Aavenomics, it’s clear that the protocol for money market creation has a very bright future lined up for the coming months.

It’ll be interesting to see how the lending wars pan out, with protocols like Aave, Compound and bZx fighting for TVL in a rapidly growing sector full of strong incentives.

If one thing is for sure, DeFi Rate plans to play a big role in Aave governance and will be introducing a formal protocol bid upon the launch of Genesis Governance in a few week’s time.

To stay up with Aave, be sure to follow them on Twitter or join the conversation on Discord.

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