PowerPool Newsletter #018
BSC Index ($BSCDEFI) | YLA Updates | Job Board Updates | Ambassador Program Beta
Welcome to another issue of the Power Pool newsletter. We've been somewhat quiet for the past few weeks, but we have some exciting news to share with you, so let's get started.
In Today's issue:
BSC Index ($BSCDEFI)
YLA Updates
Job Board Postings
Ambassador Program Beta
$BSCDEFI
The new proposed BSC product is being built in line with the New Vision for PowerPool and is a perfect 'minimum viable product' test case for an expanding Power Universe of thematic, hedgeable pools launched in collaboration with other DAOs.
We’re proposing the implementation of this product not as an AMM pool that allows traders to swap assets, but as a basket of assets without swaps for the following reasons:
To avoid impermanent loss (IL) associated with an AMM, the "selling winners and buying losers" problem;
To avoid security risks of hacks in particular protocols leading to draining the pool;
Because the composition and weights of this kind of pool change relatively infrequently.
This static basket will allow for the creation of synthetic hedging solutions much more easily as well. You can find more details about our work with Linear and how technical implementation in our medium post.
This product is a part of the New Vision for PowerPool. If you want to get early access to it, please fill out 👉 this form.
📖 Read more
💬 Governance forum discussion
🗳 Snapshot Governance Vote - Accepted ✅
YLA Strategy Update - YLA Got Wiser
In just a few months of existence YLA has already had three major upgrades. The first was a vault migration from Yearn v1 to v2.
The second migration allowed us to increase the basic YLA APY from 5% to 15%+ currently, by completely changing the Vault composition. You are earning this APY with YLA sitting in your wallet or staked anywhere, and this APY is earned in stable assets.
Now, the third update allows YLA to re-allocate funds between Yearn Vaults and assign new weights. The weight of the Vault in the pool depends on Vault's TVL relative to other composing Vaults' TVL. This approach can be considered as a sort of M.Cap weighting.
The future YLA update will allow shortlisting a number of pools with zero weight, activating them based on certain conditions, making YLA to bee the ultimate Yearn Vault capital allocator.
All this feature contribute to constant yield optimization and best returns for YLA LPs.
As if that wasn’t enough, there are also two active incentives programs:
Sushi Onsen: 17% APY
CVP Boost: 25% APY
👓 Read more about the last update.
CVP Inflation Discussion
Two discussions regarding the CVP inflation are active on the governance forum right now.
The first one suggests decreasing CVP inflation via rewards decrease for all active reward programs: YLA Boost, ASSY Staking, PIPT-ETH, and CVP-ETH liquidity mining.
💬 Decrease CVP inflation
The second is advocating for the YLA CVP Boost extension.
💬 Proposal 38: Extend the YLA CVP Boost
Plz voice your opinions on the governance forums.
Job Board Updates
We now have a dedicated job board, where you can find job descriptions and application form.
Currently, we are looking for:
🚀 Social Media Guru
✍️ Technical Writer
🕵️ Blockchain Analyst
Link to our 👉 job board
Ambassador Program Beta 👀
For the past 2 weeks, we have been quietly running and testing the ambassador program. It will be announced on the gov forum. Meanwhile, you can join our Discord server and reach out DrGonzo to get details about it.
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