YFI Minting, Cover Liquidity Mining, and Catnip Launch Sports Markets
Decentralise Daily #89: Why mint YFI?
š° Decentralise Daily #89
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š Market Highlights:
š° Funding Yearnās Future
After long discussions an open community working group has put together a proposal to fund Yearn Financeās future.
6,666 YFI would be minted, with 1/3 vested to core developers and 2/3 to be used by governance.
A range of potential uses are listed, including liquidity incentives, staking rewards, and talent acquisition.
Although this breaks the 30,000 fixed supply meme there is clear community consensus that this proposal is necessary. Members repeatedly stated that developers should be rewarded for their work, and the protocol should be empowered to incentivise future growth.
As YFI fair launched the minting would be relatively conservative vs other DEFI projects, who allocate between 20-30% of their tokens.
š„§Ā PieDAO
Decentralise is sponsored byĀ PieDAO, the community governing tokenised ETFs.
PieVaults are a new product range, diversified yield aggregators capable of multiple farming strategies. The first PieVault YPIE gives complete exposure to the Yearn Finance Ecosystem.
MintĀ YPIEĀ gas-free withĀ Oven.
š”ļø Cover Protocol Liquidity Mining Live
After last monthās exploit there is a fixed cap of 70,000 COVER tokens, with no inflation.
As such all Cover Protocol liquidity incentives are earned in each projectās native token.
LPs have to claim their rewards each month or they will be forfeited.
Cover Protocolās easy to access KYC-free DEFI coverage is picking up steam, and the integration into the Yearn Finance dashboard is already attracting greater liquidity.
š Catnip Launch Sports Markets
Catnip is a decentralised prediction market from AugurDAO, built on Augur and Balancer.
AMM pools are established for each market, with users able to easily get exposure to an outcome by buying the yes or no token through a simple swap interface.
Catnip launched with just one market for the US election, which is closing today.
Check out the new NFL markets here or read Decentraliseās introduction.
šļø Yesterdayās Newsletter:
ETH ATH, YFI Buyback and Minting and Sergey Nazarov on the Coming DEFI Boom
DecentraliseĀ is sponsored byĀ PieDAO.
Join the PieDAOĀ community.