Disclosure: Delphi Ventures is an investor in PowerPool.
In September we proposed a new product to help PowerPool become a powerhouse of governance tokens. The proposal was successfully voted through and the team has been heads down building.
Two Security audits for the PowerIndex are pending with the expectation that the results will be received on November 23rd. The PowerIndex itself is set to launch on November 24th or 25th. In the meantime, there has been a baby index that resembles the composition of the final Index, but it’s been capped at $500k.
Three Items included in this vote:
1) The composition of the index will remain relatively unchanged in the transition, consisting of CVP, YFI, SNX, LEND, wNXM, UNI, COMP, and MKR. The only change will be AAVE replacing LEND now that Aave has gone through the token migration. Since the index remains unchanged, the 3M in CVP rewards will also no longer be rewarded for those who vote on the composition.
2) Liquidity Mining Program for Power Index
Previous: The previous plan was to provide 2M CVP in monthly rewards to Index Liquidity providers, with the rewards being locked for one year.
New Proposal: The new proposal is to change this rewards program to 400k CVP per month, with 50% of the reward vesting immediately while the other half vests over the following 10 weeks.
3) Liquidity Mining Rewards for CVP