PowerPool Newsletter #020
$BSCDEFI Update | CVP/USDT Binance Pair |DAO Governance Updates | PowerPool Media | General Announcements
In This Issue
$BSCDEFI Update
CVP/USDT Pair on Binance
DAO Governance Updates
PowerPool Media
General Announcements
$BSCDEFI Update
The first in a series of updates to $BSCDEFI is now upon us and staking is ready for deployment!
In summary this means that now users holding $BSCDEFI will benefit not only from exposure to the BSC DeFi ecosystem, but also the yield generated by the underlying tokens AND from those rewards being automatically harvested and compounded.
Launch of staking will commence at the end of the week starting with CAKE and will be systematically rolled out for other assets (XVS, MDX, ALPACA, BAKE, and AUTO) in the coming weeks.
Based on the current yield and underlying token allocations within the $BSCDEFI basket the current estimated yield is just over 42% APY!
👉 More detail can be found on the PowerPool Medium.
Trade $CVP against USDT on Binance
Another milestone in CVP adoption was achieved, Binance opened trading for CVP/USDT, drastically increasing liquidity and retail appeal.
DAO Governance Updates
Proposal 47: Update current CVP liquidity mining programs
Status: ✅ Passed
On September 23 the community passed a vote to decrease the CVP inflation by decreasing mining rewards in existing pools. This began on September 26th and will occur in three rounds between now and December 25th of this year.
Details about the changes can be found in the Proposal 47 governance forum thread, which include tables showing the exact changes by pool and round.
Proposal 48: Support PowerPool team expansion by team allocation raise
Status: 🗳 vote now
Synopsis: Proposal to raise PowerPool team allocation by 12.5m CVP (12.5% TTS). If this passes the total team allocation will be 15m CVP (17.5% TTS) after that. The motivation for this is to align PowerPool team allocation with historically proven market practices, support project development, and facilitate the expansion of the team.
💬 Governance forum discussion.
Proposal 49: Make XCVP a transferable token and bridge multi-network
Synopsis: Explore three options for ultimately making xCVP a transferable token with the goal of ultimately bridging it across networks. This would help ensure users off of the Ethereum mainnet have the opportunity to stake and take advantage of the protocol’s revenues and rewards in a cost effective manner as PowerPool expands.
💬 Governance forum discussion.
PowerPool Media
As part of our focus on improving outreach and visibility the PowerPool team has been on a tear recently hosting an AMA on Discord and engaging the communities of Binance and Balancer. Take listen to get up to speed on where the project is headed and what questions the community had for us!
Vasily Sumanov on Round 5 of Binance Smart Chain’s Earn and Learn Sessions:
GordonGekko on Binance Smart Chain’s Monthly Star AMA:
Additionally, Gordon and Vasily and Segrei Medvedev represented PowerPool on AMA with the Binance English and Chinese Telegram AMA series offering $CVP rewards for participants!
General Announcements
The team is busy framing up our next products including exposure to Polygon and Avalanche ecosystems as well as a DeFi “blue chip” product. More information is available in the PowerPool Wiki and Discussions are active on our Discord.
More on PowerPool
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