Dev Protocol and StakeDAO Partner to Support Bunchy Protocol
Partnership with StakeDAO and Bunchy Protocol
Dev Protocol is excited to announce a partnership with StakeDAO to support Bunchy Protocol through Social yield farming. StakeDAO users can now become Patrons of Bunchy Protocol by staking DEV in the Dev Protocol strategy (Strategies). Patrons will make a yield for themselves and Bunchy Protocol. Bunchy Protocol will be using the yield to build out their NFT lending protocol. The current DEV staking APY is ~34%.
StakeDAO receives a 15% performance fee and 0.5% withdrawal fee for large withdrawals. All strategy fees earned will flow to the StakeDAO treasury address which can be found below.
Treasury address: 0x9D75C85f864Ab9149E23F27C35addaE09B9B909C
We are excited to join the StakeDAO ecosystem and collaborate on future opportunities. StakeDAO is a natural fit due to their commitment to supporting the Creator Economy, Social tokens, and NFTs.
What is Dev Protocol?
Dev Protocol is building the Creator Economy by leveraging Social tokens and Decentralized Finance to provide Creators with an A-Z Launchpad to capture their value. Over 1,600 Creators and Projects have minted Social tokens on Dev Protocol. The Dev Protocol DAO receives a 5% fee of all Social tokens minted on Dev Protocol.
Our first product is Inflationary Funding for Creators that revolutionizes the donation model by realigning the incentive model. Patrons stake DEV for a Creator which mints new DEV for the Creator and Patron. For the first time ever, Patrons are rewarded with an APY for supporting Creators. The current APY is ~34%. Since Dev Protocol’s launch over $2,200,000 has been generated for one of the most critical Creator segment: Open Source Software developers.
What is StakeDAO?
StakeDAO is the home of retail users looking to enter the DEFI ecosystem. Users can manage their portfolio, easily enter complex strategies, stake supported tokens. StakeDAO supports DEFI on all networks including: Ethereum, Near, Polkadot, and Solana. StakeDAO’s native token, SDT, provides governance power to holders and the right to collect the protocol’s fees. Dev Protocol is excited about StakeDAO’s ability to consistently provide complex strategies in one click with a slick user experience.
What is Bunchy Protocol?
Bunchy Protocol is building a lending protocol for NFTs on top of Aave and NFTX. Bunchy Protocol first showcased their solution at ETHGlobal’s NFT hackathon in March.
Dev Protocol and StakeDAO realize that Bunchy Protocol is building an essential cornerstone of the NFT ecosystem. While the current NFT wave is focused on acquisition, the next wave will be focused on leveraging and utilizing NFTs. Bunchy Protocol will make the current NFT market’s valuation sustainable by increasing their liquidity and utility. Bunchy Protocol will create tremendous opportunities for the Creator Economy!
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