88mph Weekly Update — 4/26/2021
Find out what happened this week in the 88mph Ecosystem.
📂 88mph Docs Revamped
The 88mph documentation on Gitbook has been completely restyled and rewritten; any and all information that someone would want to know about 88mph can be found here.
✅ All double-checked and given the green light by our lawyer friends too.
❓ FAQs for each of the 88mph products
Check them out here: https://docs.88mph.app/
🎶 Anthem — 88 Miles Per Hour
The official anthem for 88ers has been published on Youtube!
With dope graphics, a catchy tune and DeFi lyrics, our man Holland (https://twitter.com/0xHolland) has really outdone himself with this.
🕵🏼♂️ Watch Address Feature
A community-produced watch address feature has been added to the homepage, https://88mph.app/, developed by our friend https://twitter.com/0xSzeth. You can use this feature to view the homepage from the perspective of another Ethereum wallet address.
Whale watching just got much easier.
🔩⛏ Bancor LM rewards
Bancor Liquidity Mining rewards have begun. Huge thanks to Bancor for whitelisting $MPH to receive $BNT LM rewards.
Important: Users can provide single-sided liquidity (in either MPH or BNT) as well as standard double-sided liquidity; users will also benefit from Impermanent Loss protection. The IL protection occurs if the user keeps their deposit within the Bancor pool for the full period required.
You can enter the pools here: https://app.bancor.network/eth/portfolio/stake/add/single/0xAbf26410b1cfF45641aF087eE939E52e328ceE46
Current Liqudity: $11.9m
👨🏻🚀 ‘Thank you Bancorian’ NFT, part 2
With another roaring success in the Bancor co-investment proposals, our resident sci-fi designer, VisualDon, has cooked up another high-quality NFT for those that voted for MPH’s whitelisting.
The NFT was delivered to the voter’s addresses and can be viewed here:
🍀 Zero Coupon Bond LM NFT gift
TheVisualDon’s sci-fi NFT has been sent to one lucky address holder who has been providing liquidity for the ZCBs on Sushiswap.
🌀 Debasenomics DM88 pool
Debasenomics have further integrated the 88mph protocol in their v2 DM88 pool. This pool has gas optimisations and no deposit fees. The audits came back clean, as expected!
🍄 Mushrooms Finance UNI play
Mushroom Finance is moving forward with their implementation of the FIRB within their Vaults, creating a bond with $950k worth of UNI.
Can’t wait to see what they will do with 88mph v3 🧠
🦄 ⛏💦 Uniswap Liquidity Mining Round XII
𝕋𝕒𝕤𝕥𝕚𝕟𝕘 𝕝𝕚𝕜𝕖 𝕒 𝕤𝕨𝕖𝕖𝕥 𝕧𝕖𝕣𝕞𝕠𝕦𝕥𝕙 𝕠𝕟 𝕥𝕙𝕖 𝕣𝕠𝕔𝕜𝕤…
Uniswap liquidity mining program — Round XII 690 $MPH rewarded, coming straight from our gov treasury, lasting 14 days.
💰 Ξ𝐚𝐫𝐧𝐢𝐧𝐠𝐬 𝐜𝐚𝐥𝐥
Weekly $MPH staking rewards: 14,233 $DAI
Staking APY: 7.92%
Historical MPH staking rewards distributed: 209,773 DAI
Cash dividends are generated by the fees on the fixed-rate interests paid out + $COMP $FARM harvested.
Stake your MPH tokens here: https://88mph.app/rewards
🦋 v3 — tell your dev friends!
Headline changes:
✨ Time-proportional & partial FIRB withdrawal
In 88mph v3, there is no fund lockup at all. Instead of the end of the lockup period, a FIRB’s maturation time now denotes the end date of the fixed-rate interest terms that it enjoys.
✨ Top up & roll over FIRB
88mph v3 allows users to add funds to an existing FIRB.
✨ Transferrable vesting
88mph v3 makes vested MPH rewards transferrable NFTs, which makes accounting easier for contracts that integrate with 88mph. Redeeming vested MPH rewards is also now permissioned, meaning only the owner and the operator of the NFT are allowed to redeem for themselves.
✨ Fungible FRB
It is now possible to represent them in fungible ERC-20/ERC-1155 tokens instead of the current ERC-721 NFTs, which makes floating-rate bonds much easier to trade.
✨ Perpetual yield futures
88mph perpetual yield futures will be the first perpetual yield-derivative product on Ethereum, making it magnitudes easier to speculate on the yield of protocols like Compound, Aave, Harvest, and Yearn.
✨ Proxy upgrade pattern
The usage of the proxy pattern allows the team to make upgrades much more easily, as well as allow for bug fixes.
✨ Early withdrawal & vesting FIRB
88mph v3 will use a new vesting contract where vested MPH is tightly-coupled with FIRB. This means that when a user wants to withdraw a FIRB before maturation, instead of asking the user to pay back the entirety of the MPH reward given to the FIRB, the pool will simply stop the remaining vesting stream.
✨ NFT’s metadata update
Currently, only the governance treasury multisig has the authorization to attach metadata to the FIRB NFTs. 88mph v3 will allow the owner of a FIRB NFT to update the NFT’s metadata.
✨ Single-tx zaps
The introduction of transferrable vesting in 88mph v3 makes it possible to zap into a pool using at least 1 transaction and at most 2 transactions.
In keeping with the commitment to a community-driven approach, the v3 specs aren’t cast in stone. They represent the core team’s vision and we share it to gather your feedback and insights. We hope that this approach will be the preliminary step to ensure long terms organic growth in an antifragile way for 88mph.
🈴 Community Grant applications
Apply https://88mph.app/funding.
Additional details about the grants: https://medium.com/88mphapp/88mph-ecosystem-community-grant-round-1-8a2eff9c0855
