Dev Protocol Partners with StakeDAO
Dev Protocol has partnered with StakeDAO to support the Creator Economy by leveraging Social tokens & DEFI.
StakeDAO users can now become Patrons of Bunchy Protocol by staking DEV in the Dev Protocol strategy (Strategies). Patrons will make a yield for themselves and Bunchy Protocol. Bunchy Protocol will be using the yield to build out their NFT lending protocol. The current DEV staking APY is ~34%.
StakeDAO receives a 15% performance fee and 0.5% withdrawal fee for large withdrawals. All strategy fees earned will flow to the StakeDAO treasury address which can be found below.
What is Dev Protocol?
Dev Protocol is building the Creator Economy by leveraging Social tokens and Decentralized Finance to provide Creators with an A-Z Launchpad to capture their value. Over 1,600 Creators and Projects have minted Social tokens on Dev Protocol. The Dev Protocol DAO receives a 5% fee of all Social tokens minted on Dev Protocol.
Our first product is Inflationary Funding for Creators that revolutionizes the donation model by realigning the incentive model. Patrons stake DEV for a Creator which mints new DEV for the Creator and Patron. For the first time ever, Patrons are rewarded with an APY for supporting Creators. The current APY is ~34%. Since Dev Protocol’s launch over $2,200,000 has been generated for one of the most critical Creator segment: Open Source Software developers.
What is StakeDAO?
StakeDAO is the home of retail users looking to enter the DEFI ecosystem. Users can manage their portfolio, easily enter complex strategies, stake supported tokens. StakeDAO supports DEFI on all networks including: Ethereum, Near, Polkadot, and Solana. StakeDAO’s native token, SDT, provides governance power to holders and the right to collect the protocol’s fees. Dev Protocol is excited about StakeDAO’s ability to consistently provide complex strategies in one click with a slick user experience.
What is Bunchy Protocol?
Bunchy Protocol is building a lending protocol for NFTs on top of Aave and NFTX. Bunchy Protocol first showcased their solution at ETHGlobal’s NFT hackathon in March.
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