Cryptocurrency

PowerPool launches & # 39; Meta Governance Token & # 39; for the Yearn ecosystem

powerpool-launches-39-meta-governance-token-39-for-the-yearn-ecosystem

PowerPool, a project investigating the utility of Ethereum-based governance tokens, has launched YETI – an index and "meta-governance" token for the Yearn.finance ecosystem.

YETI was designed by Ryan Watkins of Messari, who posted the proposal for an index index for the Yearn Finance ecosystem on PowerPool's governance forums on December 4th.

The Messari researcher noted that "despite the pooling of development and community resources" among members of the YFI ecosystem, "governance between these protocols remains separate".

He wrote that the index would provide investors with "a passive vehicle for board exposure to the Yearn ecosystem" and would allow Yearn to formalize recent mergers and align "the treasury and governance systems of the protocols in its ecosystem" .

As suggested by him, the index consists of 35% YFI, 17% SUSHI and 8% CREAM, AKRO, COVER, KP3R, CVP and PICKLE. However, the composition of the index can be changed with successful governance proposals.

The meta-governance layer for the PowerPool index tokens enables YETI holders to participate in governance across the entire Yearn ecosystem via a single interface. According to PowerPool, this simplifies the user experience and offers "the opportunity to save gas costs".

Holders of YETI tokens can also become liquidity providers for all tokens in the index and generate returns with tokens that are summarized in the return vehicles of the underlying protocol. You will also receive proceeds from a 0.2% swap fee from token swaps that take place within the YETI pool.

Income farmers supplying tokens for the YETI index can earn a monthly portion of 250,000 of PowerPool's native CVP tokens over a 10 week period, while 200,000 CVP for liquidity providers are provided for Balancer's YETI / ETH 80-20 pool were.

YETI is currently trading on the decentralized exchanges Uniswap and Balancer for around USD 1.10 each.

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Melinda Martin