PowerPool Newsletter #018
PowerPool released Newsletter #018 about BSC Index ($BSCDEFI), YLA Updates, Job Board Updates, Ambassador Program Beta.
- BSC Index ($BSCDEFI)
The new proposed BSC product is being built in line with the New Vision for PowerPool and is a perfect ‘minimum viable product’ test case for an expanding Power Universe of thematic, hedgeable pools launched in collaboration with other DAOs.
They’re proposing the implementation of this product not as an AMM pool that allows traders to swap assets, but as a basket of assets without swaps for the following reasons:
- To avoid impermanent loss (IL) associated with an AMM, the “selling winners and buying losers” problem;
- To avoid security risks of hacks in particular protocols leading to draining the pool;
- Because the composition and weights of this kind of pool change relatively infrequently.
This static basket will allow for the creation of synthetic hedging solutions much more easily as well. You can find more details about our work with Linear and how technical implementation in our medium post.
This product is a part of the New Vision for PowerPool. If you want to get early access to it, please fill out 👉 this form.
- YLA Updates
In just a few months of existence YLA has already had three major upgrades. The first was a vault migration from Yearn v1 to v2.
The second migration allowed us to increase the basic YLA APY from 5% to 15%+ currently, by completely changing the Vault composition. You are earning this APY with YLA sitting in your wallet or staked anywhere, and this APY is earned in stable assets.
Now, the third update allows YLA to re-allocate funds between Yearn Vaults and assign new weights. The weight of the Vault in the pool depends on Vault’s TVL relative to other composing Vaults’ TVL. This approach can be considered as a sort of M.Cap weighting.
The future YLA update will allow shortlisting a number of pools with zero weight, activating them based on certain conditions, making YLA to bee the ultimate Yearn Vault capital allocator.
All this feature contribute to constant yield optimization and best returns for YLA LPs.
As if that wasn’t enough, there are also two active incentives programs:
Sushi Onsen: 17% APY
CVP Boost: 25% APY
- Job Board Postings
They now have a dedicated job board, where you can find job descriptions and application form.
Currently, they are looking for:
🚀 Social Media Guru
✍️ Technical Writer
🕵️ Blockchain Analyst
Link to job board
- Ambassador Program Beta
For the past 2 weeks, they have been quietly running and testing the ambassador program. It will be announced on the gov forum.
What is PowerPool?
PowerPool allows token holders to lend, pool, borrow, and gain income from governance tokens, while accumulating governance power in protocols based on the Ethereum network. PowerPool’s mission is to expand the utility of governance tokens and improve decision making in DeFi.
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