PowerPool Newsletter #008
PowerIndex Update | Security Audit & Adaptive Vesting | YETI Index | Zapper x PowerPool
In today's issue:
PowerIndex 8.2M update
VestedLPmining + Controller Audit Report by Pessimistic
YETI and new UI
Proposal 10: CVP tokens allocation for PowerPool team
Proposal 11: Issue a grant to co-fund research on Balancer AMM with Balancer Labs
Zapper x PowerPool
PowerIndex Update
During the blasting launch on December 2nd, PowerIndex TVL jumped to $4.7M in 24 hours. Growth continued with TVL reaching is $8.3M today.
Security Audit
Today, PowerPool received VestedLPmining + Controller Security Audit Report from Pessimistic. It means that the long-awaited adaptive vesting feature is going live soon. Due to technical complexity, the first implementation will be manual. The team has to sign a special multi-sig transaction to change the unlock ratio. You can read the text of the security audit of this implementation here.
As a next step, an automated decentralized solution will be implemented.
YETI and new UI
Yearn Ecosystem Token Index (YETI) - is a proposal to launch an index in the PowerPool ecosystem consisting of Yearn ecosystem projects: YFI, SUSHI, CREAM, AKRO, COVER, K3PR, CVP, PICKLE.
The proposal was initiated by Ryan Watkins from Messari and quickly gained traction. Currently, it has 1.3m votes for and zero votes against. The PowerPool team is already getting ready for technical implementation and updated PowerIndex.io main page to accommodate multiple indexes.
As a reminder, official YETI channel is hosted on Power Pool Discord.
🔗 Proposal link
Proposal 10: CVP tokens allocation for PowerPool team
Proposal 10 successfully passed, with unanimous support, 1,7m votes for and zero votes against.
Summary:
The project progress and traction demonstrate the PowerPool's team's capability to deliver reliable tech, conduct research, and build an ecosystem around the project. On top of that, the PowerPool ecosystem was developed without any external funding.
To secure a stable future for the project, create solid DeFi products, and finally deliver the first-ever meta-governance protocol, the proposal to allocate 5% of TTS (5m CVP) to the PowerPool team was initiated.
Terms of allocation: lock-up for one year and 18 months linearly vesting after starting from the date of vesting contract deployment if this proposal passes. The voting power of locked tokens will be linearly vested for 18 months, starting from the same date.
🔗 Proposal link
Proposal 11: Issue a grant to co-fund research on Balancer AMM with Balancer Labs
Another active proposal is a proposal to dedicate 3200 CVP (~10,000$) as a grant for the Token Engineering community's team to build the cadCAD model of the Balancer AMM and run simulations for PowerIndex and similar use cases.
It's a pressing issue in the market, and this team already got a $25,000 grant from Balancer. This proposal got solid traction on our forum and has chances to reach a 400,000 votes quorum, as it currently has 147k votes for and 41k votes against.
The proposal will be active for 35 hours, so your vote is important.
🗳 Vote here
Zapper x PowerPool
Zapper added all active CVP and PIPT pools and tokens to their platform, giving their existing userbase an easy way to swap tokens and add liquidity.
At the same time, Zapper is a very user-friendly solution to track pools data, such as accrued fees, volume, and total liquidity.
Community spotlight
Great Twitter thread and supporting article by Ryan Watkins.
Fantastic gif by PowerLul
*We admire the support from our community, and the pics and gifs you created are fantastic. On a side note, we never endorse price speculations and predictions. DYOR, people!
Beautiful art by hellebore_near and a fantastic Telegram sticker set.
More on PowerPool
Power Forum: https://gov.powerpool.finance/
Discord: https://discord.gg/hYJXUBQ
Twitter: https://twitter.com/powerpoolcvp