PowerPool Update - BSC DEFI Pool Launch
Binance Smart Chain Pool | $1.5m TVL in 24 hours | Liquidity Mining Program
Hello all! We’re incredibly happy and proud to announce the launch of both our Binance Smart Chain Ecosystem Blue Chips (BSCDEFI) pool and liquidity mining program on PancakeSwap.
What is BSCDEFI?
BSCDEFI is a diversified basket of leading BSC DeFi protocol tokens that captures both their price action and, crucially, their staking rewards. It contains yield-bearing governance tokens for most major BSC DeFi protocols including CAKE, XVS, MDX, EPS, etc.
👉 Read the full announcement
Useful Links
📈 BSCDEFI Page (Mint/Redeem/Stats) - 🔗Link
🗺 Supply (Minting) Guide - 🔗 Link
🕵️ BSCDEFI Token (🔗 BCSScan) - 0x40e46de174dfb776bb89e04df1c47d8a66855eb3
TVL & Liquidity Mining
At the time of writing, less than 24 hours from the launch, we have:
TVL: $1 534 594
BSCDEFI Supply: $1.64M
PancakeSwap Liqudity: $2,423,161
PancakeSwap APY: 328%**The rewards will to be cut in half after the first 48 hours of farming.
To farm $CAKE rewards:
1) Add liquidity to 🔗 BSCDEFI-BNB pair
2) Stake Cake LP tokens 🔗here, to find the farm, use search field
You can use this guide created by Pancake Swap if you encounter any problems.
BSCDEFI Roadmap
Over the next few months we will be rolling out additional functionality to capture increased value for BSCDEFI. This includes:
Staking assets in third-party contracts with auto-compounding: Staking strategies for BSCDEFI using underlying tokens in the basket to farm yield for token holders. Status: ready and awaiting security audits. ETA: several weeks
BSCDEFI rebalancing mechanism via “swaps window”: At initial launch, BSCDEFI swaps are disabled to avoid IL risks for token holders. However, periodically whenever the DAO decides the basket composition needs to be updated (based on evaluation of fundamental metrics for the underlying protocols), the DAO will enable swaps with dynamic AMM weights to shift towards the desired composition by means of arbitrage deals. ETA: 1 month
Synthetic BSCDEFI inverse token: There will be a synthetic version of BSCDEFI with an inverse token that will allow holders to fully or partially hedge via offsetting positions involving both [BSCDEFI + BSCDEFI synth short], all the while still harvesting all future staking yield. Launch of the synthetic version depends on third-party protocols. ETA: ~2 months
Listing BSCDEFI on BSC Lending sites: will be pursued once feasible given TVL, trading volumes, and liquidity metrics.
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