PowerPool Newsletter #16
YLA Updates | $SUSHI Staking for ASSY | Creativity Contest Updates | Contributors Wanted
In today's issue:
YLA Updates
Creativity Contest Final week
ASSY: Sushi staking
Contributors Wanted
What a month! Our team has been hard at work developing innovative functionality to add even more value to the PowerPool ecosystem. There are some big developments on the horizon that we can tease you with (AAVE staking in ASSY, xCVP implementation, and some exciting changes to the smart portfolios) and we can’t wait to share them with you.
Yearn Lazy Ape Updates
Thanks to feedback from engaged members of the community the farming tab and main page now displays underlying Yvaults APY, while $YLA page shows your current earnings without CVP boost.
Additionally, on April 21 the SushiSwap liquidity mining program ended and was replaced with a much more straight forward reward program. Now simply staking $CVP with your $YLA (as little as 0.014 or as much as 0.14 $CVP per $YLA) can currently earn you $CVP rewards of 47% in addition to a native $YLA APY which has recently been floating around 15-20%. Pretty impressive when you consider that this is on stablecoins and suffers from no risk of impermanent loss.
Remember, Y L A A L W A Y S G R O W S.
👓 Guide on $YLA staking
Yearn Vaults migration
Yearn is slowly migrating their vaults to version 2, with better strategies and no exit fees you better believe we’re doing our part to capitalize on this as soon as possible. The absence of exit fees will allow us to turn the DAMM on to optimize yield for YLA holders.
$YLA holders and stakers don’t required to take any actions.
ASSY: Sushi staking
This process is based on the Wrapper + Router infrastructure, for which the audit was recently finalized.The code is available on our GitHub. This solution allows a great degree of flexibility in contrast to simply using xSUSHI directly.
Wrapper wraps tokens and deposits them into the router. The router then stakes these tokens (SUSHI for xSUSHI in this case), rewards then deposited back into the ASSY pool, benefiting LPs.
This design provides us the flexibility to change the staking strategy; if a better staking option, then xSUSHI is available with zero actions taken from LPs and additional changes in the pool.
📝 Details
Proposal 35 - Temporary delegation of AAVE meta-governance power
1inch.exchange is in a the process of 1inch token as collateral on AAVE. 1inch.exchange is one of the key players on the Defi market. 1inch success is important for the operation of PowerPool pools. Besides that, 1inch continuously supported PowerPool in building products and integrations.
Vasily Sumanov proposes to delegate AAVE voting power from PIPT and ASSY to 0xE353233f078D1f4b9f5e467Aa5b46f5f931E2A0c, controlled by 1inch team address.
After AAVE voting is completed, delegation should be canceled in 24 hours. If voting devoted to a listing of 1INCH on AAVE wouldn’t take place in the next 14 days, delegation should be canceled as well.
🗣 Details & Discussion
📥 Vote
Creativity Contest Final week
We decided to prolong the creativity contest submission deadline until the 16th of May, so you still have a shot at earning a part of the $5,000 prize pool.
Below you can see a few submission examples:
`You still have time until 16th of May to submit your entry.
🕵️♂️ Details & Rules
Contributors Wanted
We are expanding our content team and looking for:
Graphics Designers
Copywriters (English Native)
Motion Designer (On-Demand)
To apply reach out to Gonzo 👇
Discord 3 - DM DrGonzo
Twitter - DM DrGovernance
Governance Forum - DM @DrGonzo
👓 Details
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