PowerPool Newsletter #017
PowerPool Report | DAO Vision Feedback | xSUSHI Staking and other updates
Topics:
DAO Vision - Call for Feedback
PowerPool report: first five months of 2021
$SUSHI Staking - Live
Proposal 36 - YLA Rewards Extension
Creativity Contest Prizes Sent
Testers Vesting Contract Deployed
Balancer v2 Launch Partner
Greetings! Today we want to start with a very important announcement. As some of our Discord members may already know over the last month we have been working diligently to develop PowerPool’s future vision and roadmap. We are almost ready to share it publicly but first want to seek input from a broader group.
We will be selecting a group of individuals to be the first people to see it and give some initial feedback. This week we will be reaching out to our most active members on Discord and Telegram, but we know we have an outstanding number of bright members who rarely participate in public discussions.
If you want to be a part of this insider group with first-hand access to our private roadmap and plans, please fill out this form 👇
PowerPool report: first five months
On Monday, PowerPool released a report summarizing the last five months of operations. In it we cover the launch of two major products, tech developed, partnerships, integrations, and more.
You can find a summary in the tweetstorm:
Or find the full report below.
Other updates:
$SUSHI Staking - Live
We've been waiting for this for a long time, but as of earlier this week the staking of underlying assets is finally live, starting with Sushi! This is the first implementation of the Wrapper-Router system which allows for a great degree of flexibility for strategy optimization.
ASSY holders will now enjoy steady cashflows generated by xSUSHI and deposited back into the pool, increasing its value and $ASSY price.
It is important to highlight that this implementation is a de facto MVP of our asset-manager system. We will utilize it in our future products based on the Balancer v2 infrastructure, allowing productive usage of underlying assets.
You can read more about it here.
Proposal 36 - YLA Rewards Extension
Proposal 36, created to extend YLA Boost rewards for another month, was accepted by the community and executed by the team.
The rewards size remains the same as before - 150,000 CVP.
The end date is now June 27th, but follow our governance board and Discord to be the first to hear about the proposals for extension.
Testers Vesting Contract Deployed
It was a very spirited debate and close vote when the Management Board proposed to slash 40 testers (Decreasing the total tester allocation by stunning 2,000,000 CVP) and change vesting contract.
This proposal was accepted and resulted in 9.6M CVP burn and new vesting contract development. While the deployment took longer than expected due to the audit schedule, it's finally behind us.. The testers have received their tokens and we can move forward.
Balancer v2 Launch Partner
PowerPool is on the cutting edge building its latest tech on the recently release of Balancer v2. The plan now is to launch the following three developments on the updated Balancer v2 infrastructure:
New AMM-based products (including complex structured investment products) including migration of existing products from v1.
Acting as an asset manager on Balancer V2, offering our strategies for yield generation for certain DeFi tokens to all V2 pools.
Becoming a Dynamic AMM provider on Balancer V2 offering an easy launch of Dynamic AMM pools to all interested stakeholders with various strategies.
Naturally this will be built utilizing our own tech such as the recently release Wrapper-Router system and PowerOracle v2.
Recently Balancer Protocol published our article on their Medium.
Creativity Contest Prizes
After an overwhelming number of applicants we have decided the winners and 4.4k CVP have been distributed to the winners.
Follow us and especially @DrGovernance to learn about our next community contests.
More on PowerPool
PowerIndex: https://PowerIndex.io
Power Forum: https://gov.powerpool.finance/
Discord: https://discord.gg/hYJXUBQ
Twitter: https://twitter.com/powerpoolcvp
Medium: https://medium.com/@powerpoolcvp
Website: https://powerpool.finance