88mph Weekly Update — 3/22/2021
Find out what happened last week in 88mph’s ecosystem.
🐒 8IP — Snapshot Governance test live
The Snapshot voting test is live. Make sure your voting weight is correct! We are using naive quadratic voting, so your voting weight is the square root of your (staked MPH + MPH in liquidity mining staking on Uniswap/Sushi/LinkSwap).
Test out our Snapshot voting here https://snapshot.org/#/88mph.eth/proposal/QmaeWQmjp3SGJssZaaLqWfoSoDk7zRWvufYVXn1C3rtLXX
88mph’s new Discourse channel is in full swing; discuss and decide on how to improve the future of 88mph for all users. https://forum.88mph.app
Current proposals:
️1️⃣ Make depositor reward vest period equal deposit period
2️⃣ Distribute MPH staking rewards in MPH
3️⃣ Remove MPH payback during withdrawal
🌀 MPH listed on Rari Capital’s FUSE
$MPH can be lent and borrowed in Pool 3 of Rari Capital’s new DAO managed lending pools: https://app.rari.capital/fuse/pool/3
Use your $MPH as collateral to borrow dozens of other assets in pool 3!
🔩 88mph x Bancor Cooperation Proposal
Please read, review, support and comment on 88mph’s proposal to the Bancor community. The proposal details a potential movement of a MPH’s liquidity pool onto the Bancor network, accompanying a 420k BNT investment and incentivised liquidity mining from the Bancor team.
Please join the Bancor Discord to engage in healthy discussions regarding the MPH whitelisting & co-investment proposal.
🧬 MPH is included in a ‘DeFi Innovation Vault’
MPH has been included into the newest round of Vault proposals over at @DRCToken and looks set to pass through the governance vote.
The DR Vaults will take $DRC holder’s deposit value in USD and convert into the chosen basket of assets: $MPH (35%) $FARM (35%) and ETH (35%).
It’s great to see 88mph’s innovation being noticed in the wider ecosystem.
🤝 Supporting the IDLEfinance grants
We will match these two Idle grants on Gitcoin:
1️⃣: https://gitcoin.co/issue/Idle-Labs/idle-contracts/10/100025052 and
2️⃣: https://gitcoin.co/issue/Idle-Labs/idle-contracts/9/100025051
using $MPH, for strategies that are built using @88mphapp.
Read our integration guide: https://88mph.app/docs/integration-guide/
🎙FIRP — The future of France live talk
We will held our Chainlink workshop “FIRP — the future of France” on Tuesday, Mar 23, 2021 between 6pm — 7pm (CET). FIRP stands for Fixed-Interest Rate Protocol. Tune is for the chance to learn more about 88mph and the ecosystem it is leading.
Learn more about it and where 88mph stands in this ecosystem with this post on @coingecko: https://coingecko.com/buzz/fixed-interest-rate-protocols
🏦💦 ZCB Liquidity Mining Continues
March 14, 2021, marked the beginning of our experimental liquidity mining program for our 4 Zero-coupon bond SLPs.
On the roster is:
🦄 UNI August 2021–302.43%
🦄 UNI February 2022–71.42%
3️⃣ 3CRV August 2021–360.94%
3️⃣ 3CRV February 2022–849.93%
🏁 Get started by clicking Manage in the ZCB series’ row.
💰 Rewards coming from the treasury. 800MPH total rewarded
🔁 Stake + RT this tweet = 1 lucky winner of this NFT by @thevisualdon
📺 The Defiant deep dives into structured DeFi
The Defiant took a deep dive into fixed-interest rate and structured products, with of course, a nice overview of 88mph protocol.
🔗 Chainlink Hackathon Sponsor
The @Chainlink 2021 Spring Hackathon has bugun! Be sure to register to hear from some of the top projects in crypto, compete for $120k+ in prizes, and learn about implementing FIR/FR/ZC Bonds in your #DeFi dapps: https://chn.lk/3dAeB2I
👨🏻🎨 Meme Contest continues — $7800 in Prizes
The first ever 88mph Meme Contest is going strong and the grand prize is still very much up for grab; funded by 5 generous community members and our grants program.
- 1st prize: 28 MPH
- 2nd prize: 18 MPH
- 3rd prize: 12 MPH.
There will also be a special prize of 2.5 MPH for the meme with the most likes on Twitter.
How to join?
- Join our telegram group to learn more about 88mph.app.
- Grab our logo in the most appropriate format (optional).
- Post your work on Twitter with the hashtags $mph + #mphmeme and tag @88mphapp.
- Fill in the following form: https://m9i59zma2fm.typeform.com/to/txhLytxp.
Read more here: https://medium.com/88mphapp/88mph-meme-contest-7-800-in-prizes-2c40dccc5dda
💰 Ξ𝐚𝐫𝐧𝐢𝐧𝐠𝐬 𝐜𝐚𝐥𝐥 (+13.6%)
Weekly $MPH staking rewards are now $18,740DAI.
🧮 Pro Tip: withdraw the DAI rewards, reinvest into the front page to earn more DAI + MPH!
TVL: 110,598 MPH
Current distribution period: 3/22/2021–3/29/2021
Current period reward: 18,740 DAI
Estimated annual ROI: ~5.90%
🎆 Protocol Revenue Infographic
Keeping this up for another round.
This dope Infographic created by our resident big-left-and-right-side-brain McFly, demonstrates how a 4 month old company can distribute cash dividend to its shareholders?
Infographic caption #1: fixed-interest rate bonds generate revenues from platform fees (10% of the interests paid out) and governance tokens harvested on the underlying protocols used to generate yields (eg. COMP + FARM tokens).
Infographic caption #2: 100% of all revenues generated from fees + governance tokens are swapped to $DAI from the open market. Those $DAI are delivered as yield to $MPH stakers. The devs fund and the gov treasury don’t have any share of the protocol’s revenues.
⛏💦 Uniswap Liquidity Mining Round 9.
1,888 $MPH rewarded (157/d), lasting until March 27, 2021. These MPH come directly from the governance treasury, no additionally minted tokens. Stake your LP tokens on https://88mph.app/farming/.
🈴 Community Grant applications on REQ Network.
By utilising Request Network, 88mph is ensuring that all grants are legitimate, transparent and on-chain. The new system is integrated into the website here: https://88mph.app/funding. Additional details about the grants here: https://medium.com/88mphapp/88mph-ecosystem-community-grant-round-1-8a2eff9c0855
