finance.vote announces “Xenia”; a 90 million $FVT liquidity program
We’re incredibly excited to announce that on Tuesday, 7th September, we’ll be holding our first event of the program launching two liquidity pools on our yield.vote dApp.
Named “Xenia”, this program will see 90 million $FVT tokens made available to be farmed along with a slew of rewards and incentives provided by our partner iTrust.finance.
Our proprietary harberger tax pool, “FVT Resident Pool” will have a max pool size of around $850,000 in SushiSwap LP tokens (SLP), which users will be able to acquire by adding liquidity to the FVT/ETH trading pair on SushiSwap.
The pool is never full! New users will always be able to enter by “kicking out” current resident pool occupiers by beating their deposit and burn rate. Read more about our harberger tax pools here.
In terms of rewards, in the 1st pulse we’ll be distributing 1million $FVT to users, with the pulse lengths running for 100,000 blocks (equating to roughly 1m FVT available to be farmed every two weeks).
It’s important to note though that in the spirit of true decentralisation, our community members, or “DAO citizens”, will be able to tune the pool parameters via our governance dApp influence.vote. Citizens will vote on factors such as Pulse length, Tokens per pulse, Min deposit, Max deposit and Number of Lots.
Alongside the resident pool launch, our partners at iTrust.finance will also be launching a harberger tax liquidity pool on yield.vote; their “Krill Pool” will feature a max pool size of roughly $50 million in SLP tokens, and will distribute around 100,000 ITG tokens per pulse, with their pulse lengths set at 198,000 blocks (equating to roughly 100,000 ITG tokens made available for farming every month).
These substantial rewards represent our ardent commitment to furthering the agenda of decentralised finance; it’s our belief that by offering significant APE PY or “Average Pulse Expected Percentage Yield”, DeFi yield farming will incentivise new users and audiences to enter the space.
Before we sign off, we thought it would be useful to give some insight into the name of this program — “Xenia”. From the Greek meaning hospitality, Xenia was intended to evoke associations with gift giving (reward distributions), and welcoming new users both to our platform, products and projects, as well as to the DeFi space in general should they never have had experience with yield farming in the past. It also ties in with our “Resident” pool motif, and yield.vote Harberger Tax game.
We believe, therefore, that Xenia elegantly brings together the two fundamental motivations behind this yield farming program; fostering greater adoption yield DeFi yield farming, and having fun in the process.
We can’t wait to welcome you all to our new liquidity pools on September 7th — let’s start the DAO revolution!
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