What a week it has been! In the flurry of hundreds of new DeFi tokens, forks, genuine mind-boggling innovation and unquestionable scams, we have successfully launched our Delphi and the fair launch was both smooth and quick.
Week 1 retrospective:
- We were surprised and humbled to have maxed out the $5.0mn initial cap to our loyal community in <90mins, with congratulations from Electric Capital, IDEO Colab and a bunch of other great folks!
- We were determined to have a fair distribution, with nobody having any special privileges. We feel this important milestone has been achieved, with the first and “most expensive” $5mn being in the hands of our community.
- Week 1 rewards are published. First reward distribution is on 2 Sept.
— Delphi has acquired 649 users since launch, this is out of 7,280 unique wallets that hold AKRO as of now.
— 37% of the total of 7,280 unique wallets have received their AKRO token in the last 7–30 day period — this is our new user base.
— 148 addresses control 90% of the Total Token Supply, which is an increase from the prior figure and shows increasing decentralisation of ownership.
— 21% of the TTS is on exchanges, which represents a reduction from prior 23% and shows the effectiveness of the staking incentives so far. KuCoin and Huobi are the most active liquidity venues.
— 10% of the TTS is on DEXs, split between Uniswap, Balancer and Mooniswap.
Week 2 plan:
- As ever, please pin & save the link to this public gsheet Liquidity Mining rewards schedule which is updated every week, with new incentives announced each Monday.
- $20mn TVL cap: We decided to increase the global TVL cap from $5mn to $20mn to reflect the audit progress made by CertiK.
- Up to $60k individual caps: Having structured a first-wave whale-free environment, and allowed over 600 users to come in with small tickets, we are now gradually increasing the individual caps. For details, please see the LM rewards schedule.
- New Week 2 LM incentives: LM incentives for the week ahead are here, see tab “Delphi Aug 31 — Sep 6”.
- AAVE integration tomorrow (bUSD & sUSD pools) with a total cap per pool of USD$100,000 equivalent. The audit hasn’t even started for this pool hence it will be an invite-only whitelist allocation for DeFi power users that will be helpful to the product development.
- Balancer and REN protocol integrations to follow. Balancer integration will allow us to include non-stablecoin assets from AAVE. Ren will naturally allow us to bring in our bitcoiner frens into the ecosystem.
- A Delphi calculator is currently in the works by the Nansen team. It will give you easy answers to otherwise tricky questions, such as:
— Returns calculator per pool: what % of the APY is derived from:
— native protocol token (“capital gains_1”)
— native protocol supply yield (“income”)
— AKRO+ADEL rewards (“capital gains_2”)
— less gas costs
— “I want to invest X in this pool” — how much am I likely to earn?”
In the mad mad world of DeFi yield-farming, we hope to bring a modicum of balance and a little conservative approach to earning your yield. Whilst the current craziness will inevitably fizzle out, we are already planning recession-proof longer-playing yield products you’ll love.
Stay safe out there!
The Akropolis Team