ANGLE Bonding Program is Live on Olympus Pro
We are very excited to announce the beginning of our Olympus Pro bonding program!
From now on, users will be able to purchase ANGLE directly from Olympus Pro bonding page against Sushi ANGLE/agEUR LP tokens.
As Olympus puts it, their bonding program actually turns a governance token distribution from a value-draining perpetual expense into revenue-producing assets that facilitate the functionality of the rest of the platform.
In practice, this program will allow Angle to grow its reserves in two very useful ways:
- The protocol will own part of the ANGLE/agEUR pool, allowing it to earn trading fees while maintaining this liquidity.
- In the future, it will also be able to use these tokens to bootstrap liquidity on L2s, in order to begin the expansion of Angle tokens there.
Bonding program parameters
200,000 ANGLE per week
A total of 200,000 ANGLE tokens will be available to purchase through bonding per week. The program is set to last 4 weeks, but can be renewed if deemed profitable or necessary.
Note that it represents less than 10% of what is issued through rewards on the Angle platform, in a way that the impact on the market should be limited.
14 days vesting
To further limit the potential sell pressure, a 14 days vesting period has been put in place. This means that users bonding will see their ANGLE tokens being unlocked linearly over 14 days. It incentivizes participants that have a longer term horizon at the expense of actors that would want to buy at a discount and immediately sell the token.
Discount
To incentivize the participation in the bonding program, a discount is put in place depending on the demand for bonds. If demand is low, the discount grows and people with a longer-term view on ANGLE are able to buy the governance token at a discount.
We hope this program can help the protocol to own meaningful reserves, that can help maintaining liquidity and expand the protocol to other chains and layer 2s!
What’s Next?
If you want to buy ANGLE tokens at a discount, you can find all the useful references here:
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Disclaimer
This announcement is not intended to provide legal, financial or investment, or other advice and we recommend that you do not rely on, and do not make any financial or other decision based, on this announcement.
