Upcoming Update for the Lydia Launchpad and Governance

Published on: 12.12.2021

Lydia Finance announce their upcoming features and improvements that they are working on for a while.

Now Lydians will be able to use their LYD tokens for voting and would be able to help them to create future of Lydia with their proposals and votes.

Another important update is coming for the Lydia Launchpad. Now it will be mandatory to deposit LYD to Lydian’s Pool to be eligible to participate for next launches.

Lydian’s Pool

A new auto-compounder Lydian’s Pool is coming to Electrum pools. Users who deposited their LYDs into this pool will have the right to participate in Lydia’s governance and with an upcoming update, only users who deposited funds into this pool will be eligible to participate in our upcoming IFOs.

There will be 6% withdrawal fee and 0.1% performance fee for each harvest.

Also users deposited into this pool will always be privileged for future benefits and potential airdrops.

Governance

Our governance system will be on snapshot.org with a custom strategy we created which works by connecting to the Lydian’s Pool. Voting power will be determined based on the user’s balance in the pool and users who have a minimum 1M LYD will be able to create new proposals. This amount can be updated with a community vote in the future depending on price change.

Deposit into the Lydian’s Pool and help them to shape the future of Lydia Finance with your proposals and votes.

Estimating the Lydian’s Pool and their governance system be live next week.

Launchpad updates

As you know we recently changed the LP used in our launchpad to AVAX-USDT LP tokens during our first set of updates. Now with another upcoming update we are adding another valuable utility to LYD token: only users who deposit a specified amount of LYD into the Lydian’s Pool will be eligible to participate in the future Lydia IFOs and buy tokens with their AVAX-USDT LP tokens. Minimum Lydian’s Pool balance requirement will be decided with a governance vote soon.

Lydian’s Pool integration will allow them to implement a tier structure to their launchpad in the future.

Preparation period

They are adding a new 1-hour long period at the end of launches to send raised funds to the new project and avoid liquidity creation mistakes and make sure a there is healthy start for the price. Once this period starts the token sale will end and all participants will be able to claim their tokens after this period ends.

Lydia Finance is an Automated Market Maker, Yield Farming, Staking, and Launchpad platform on Avalanche. Trade, stake, pool, and earn $LYD and many other token utilities all on Lydia Finance.