PowerPool Newsletter #15
$5,000 Creativity Contest | Inflation Decrease | Tester Allocation Amendments | BSC Index | Management Board Report
In Today's Issue:
Decreasing CVP Inflation
Proposal 29: Amending the Allocation for Beta and Gamma Testers
Binance Smart Chain Indices
Management Board: First Month Report
PowerPool is constantly delivering innovative technical updates whether it’s dynamic AMM or ZAP contracts. We believe that our communication and marketing should meet the same standard as Powerpool’s technology. Great communication means it’s accessible and easily digestible for our target demographic. One way to accomplish this, is by offering our community to participate in a Content Creation competition for a chance to win a total of $5,000 in CVP.
🏆 Categories & Prizes
📝 Submission Rules
To submit your entry, Tweet your work with:
Hashtags: #PowerPoolContest $CVP #defi
Mention: @PowerPoolCVP @PowerHouseCVP
⏱ Submissions deadline: 10th of May
🏆 Winners Announcement: 18th of May
As we increase our focus on marketing and communications we are looking for a crypto-native copywriter and graphic designer. The Creativity Competition will deliver a great list of candidates, so please treat this contest as a test task!
Please contact DrGonzo via Discord if you are interested in the contributor's role.
Decreasing CVP Inflation
To reflect Proposal 22’s accepted changes, Liquidity Mining rewards are decreased across all Indices.
Here you can see all currently active rewards:
A quick summary of PowerPool’s best farming opportunities:
1. YETI-ETH pair on Sushi offers 60% APY thanks to the Onsen program’s rewards
-> Add ETH to YETI, supply liquidity to Sushi, and stake SLP token in Onsen
2. PIPT-ETH pair offers 86% APY based on CVP LM Program
-> Supply PIPT + ETH to Sushi pair and after that stake SLP token in the Farming section at powerindex.io (selecting PIPT)
3. $YLA offers incredible APY (up to 90%!) on stablecoins thanks to the CVP Boost applied to YLA-USDC pair LP tokens (SLP).
4. $ASSY offers 25% APY, without a boost, and up to 75% APY. If you hold $ASSY and have additional $CVP, you can supply it to the Boost and receive a higher APY. Additionally, ASSY-ETH Sushiswap pair offers 48% APY thanks to the Onsen program.
Proposal 31: apply CVP boost for YLA, not YLA-USDC SLP
Using CVP Boost for the YLA-USDC SLP token is inefficient and too complicated, and costly for PowerPool users. We should use CVP boost for YLA staking - this will simplify things and offer additional interest for just holding YLA. Additionally that, we should prolong CVP Boost for YLA to next month.
If proposal accepted, YLA Boost program participation will be seamless and capital efficient:
Use ZAP to mint YLA: YLA yields around 30% $APY
Stake $YLA & $CVP to get 80% plus APY on all your capital
Proposal 29: Amending the Allocation for Beta and Gamma Testers & Launching a New Vesting Contract
Proposal 29 was accepted by the community, resulting in:
9,600,000 CVP burn (9.6% CVP total supply) from the Beta and Gamma's Vesting contract
New total CVP supply of 90,400,000
Smart-contract with individual vesting rules for testes will be deployed to give the PowerPool community tools to work with testers.
This proposal sparked a heated debate. A group of active testers quickly collaborated with the Management Board (Authors of the proposal). It issued a follow-up proposal to set a trial period of changes for individual tester's allocations to 4 months.
Binance Smart Chain Indices Proposal
The PowerPool Management Board's proposal to introduce new indices to expand Powerpool's reach beyond DEFI on Ethereum. The community already accepted it.
BSCI (Binance Smart Chain index) - BSC native projects and blue chips
Initial composition: Pancake, Venus, Bakery, Trust Wallet, Spartan, Autofarm, Alpaca, Helmet
EBSCI (Emerging Binance Smart Chain index) - initialy ETH ecosystem projects, moving on BSC.
Initial composition: Alpha Finance, Linear, Injective, UNIFI, RAMP, DEGO
Find detailed information and discussion on our Governance Forum.
Management Board Report: March 2021
PowerPool Management Board released its first monthly report.
The board's highest priority was to Amend the Allocations for Beta and Gamma Testers & Launch a New Vesting Contract, and it was successfully achieved.
Since Proposal 29: Amending the Allocation for Beta and Gamma Testers & Launching a New Vesting Contract and Binance Smart Chain Indices Proposal were already mentioned in the newsletter, let's focus on the future plans of the board.
Redesigning our Current Indices
Increase Utility of CVP and Index Tokens
PowerIndex Content & Information
Collaborating with Testers
More on PowerPool
Power Forum: https://gov.powerpool.finance/