PowerPool Newsletter #005
In today's issue:
Community Temperature Check & $5,000 in rewards
PowerIndex launch roadmap
Community spotlight
Community Temperature Check
To understand how good our community understands us, we decided to launch an incentivized survey containing only three questions:
What is PowerPool as a project?
What is PowerIndex and its value?
Describe the PowerPool to an experienced Defi user?
It will take you no more than 10 minutes to answer them, but look at what can you get as a reward:
First place — 3500 USD in CVP
Second place — 1000 USD in CVP
Third place — 500 USD in CVP
Our primary goal is to cover the topic most persuasively and simply. We want to use your ideas in the future messaging of PowerPool.
⚠️ You have only a couple of days left to complete the SURVEY.
PowerIndex launch roadmap
Current stage
MVP called The Baby version of PowerIndex has been launched a month ago and currently has a $550k cap. MVP offers all main functions and tools:
Mint PIPT. Users can provide liquidity into the index and mint PIPT.
Redeem PIPT. PIPT can be redeemed for ETH or 8 governance tokens basket.
Liquidity Mining Program. Two options — PIPT staking or Uniswap PIPT-USDC trading pair liquidity provision.
The secondary market for PIPT. You can trade PIPT freely with adequate liquidity on Uniswap.
The roadmap: From Baby to PowerIndex
PowerPool team released a complete overview of the expected PowerIndex launch.
1. Vesting contract deployment
We are deploying vesting contracts of Beta & Gamma testers to mainnet in the coming days. All contracts passed security audits.
Lock-ups start date: October 6, 2020 (Proposal 6 pass date)
⏱ Timeline: 1-2 days
2. Voting for index composition
Current composition: YFI LEND SNX COMP MKR UNI WNXM CVP.
The team will launch a simple YES/NO proposal to keep the composition as is if the community would issue no other proposal.
⏱ Timeline: ~7 days.
3. Security Audits
We expect to receive an audit within 7 to 10 days, and the PowerIndex will be technically ready.
⏱ Timeline: 7–10 days.
4. Launch
If everything goes as planned with no changes to a composition made, the team will announce the launch date shortly. Contracts will be deployed with LEND changed to AAVE.
👀Note: We will provide our Baby Index users with a simple liquidity migration tool.
⏱ Timeline: several days after receiving the audit.
🔗 Read the full article - link.
Community spotlight
Memes are the language of crypto. We are so flattered to see the first community-managed PowerPool meme account emerge.
Community-written article
We invite everybody to write simpler and funnier articles about PowerPool, we always happy to share them. What do you think about this writing style?
Make crypto understandable finally, foodcoin manifesto: be simple, think as a foodcoin
Ambassador Program
Our ambassador program discussion is still ongoing, people are gathering in our Discord, and if you want to get in, you start by submitting this form.
More on PowerPool
Power Forum: https://gov.powerpool.finance/
Discord: https://discord.gg/hYJXUBQ
Twitter: https://twitter.com/powerpoolcvp
https://powerpool.finance