This Friday 9th April at midday UTC, yield.vote will launch its first pool, “Basic Pool”.
yield.vote is part of the finance.vote dApp suite, which is a decentralized application suite for the DAOs of the future. This dApp is a full stack liquidity mining solution and Basic Pool represents the start of a series of pool-releases over the coming months.
Basic Pool utilises a new cryptoeconomic primitive we call “MostBasicYield,” that is designed to allow cryptonetworks to incentivise their participants to take their tokens out of circulation by offering them yield on their network assets.
The First Pool
The first pool will utilise the following metrics:
- Single Asset Staking ($FVT)
- 99.727% APY (Literally)
- Start Date: 9th April Midday UTC
- Maturity: 6 months
- Yield: 50%
- 10 million $FVT cap
You will find lots of quotes for APY (Annual Percentage Yield) across the DeFi space, most of which take the current yield and annualise it across the whole year. There is however, no guarantee that this quote will be born out in practice. Either as more participants join that pool, or as the incentives and / or market inefficiencies that are driving that yield change, it will not stay consistent for the period of time that you intend to stake your assets. Basic Pool, on the other hand, gives you the quoted yield at the time of staking to the token, to the block, to 18 decimal places. What you see is what you get.
No Lock Ups
yield.vote works on the principle that users will leave their assets staked, if it makes rational financial sense to do so — there are no lock ups required, no penalties on removal, just a pro-rata share of the yield from entry to exit of the pool.
Each pool has a “Start Date” and a “Maturity Date”. The start date is encoded in the smart contract deployment and the pool will begin accepting deposits after the point at which the pool is open.
Yields are calculated in tokens per second, per token, and between the start date and the maturity date. In the first second of the pool, the yield is at its maximum and then decays each second on the way to the maturity date.
If there are 15,780,000 seconds in 6 months and 5 million tokens to be distributed in the pool (e.g. 10m cap and 50% yield), then roughly 0.316 tokens per second will be emitted to the pool. You then receive a token stake proportional to your token weight in the pool e.g. if you had 1m tokens in the pool, you would receive 10% of the token flow (0.0316 tokens per second) for 6 months or 500,000 tokens. Or, if you join late and leave early, you receive a pro rata, to the second, proportion of tokens on withdrawal from the pool.
Open positions represent your staked assets in the contract, you are provided with information on your deposit, current yield and projected yield at the maturity of the contract.
Harberger Tax Pools
At the end of this month, we will release our LP staking pools, Resident and Tycoon. These utilise Harberger Taxes to broker access to “protocol property” slots that earn yield. This creates “perma-liquidity” by promoting users to burn their LP tokens to maintain their slot. Read more about it here.
Multi-Token Partner Pools
yield.vote is part of our dApp suite infrastructure and therefore is open to other projects across the space who wish to design their monetary policy effectively. Future iterations of MostBasicYield will utilise partner tokens, but will also be open to multi-token emission. For example, staking participants will receive $PARTNER and $FVT in their yield.
Ape here 🦍: https://yield.vote
finance.vote is a decentralised organisation that creates governance dApps for DAOs. They specialise in quadratic voting technology and price discovery, with a prediction market, a decentralised auction house and a suite of gassless multi-chain voting tools designed to upgrade governance across the DeFi space.
The finance.vote dApp suite is the decision making tool kit for the future of decentralised finance. It is governed by FVT holders, who control our roadmap, monetary policy and the funding of the platform.
Join the DAO
markets.vote (Prediction Market): https://markets.vote
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Join our official token gated community: the Citizens Chamber. You need to mint a decentralised identity token to join.
Join our Community Call: at 3pm UTC every Friday in the unofficial group.
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