Furucombo Biweekly Update #31
Over the last few weeks, the community has had an active discussion around the Furucombo improvement proposal (FIP 1). In this newsletter edition, we will brief this new governance proposal. We ask that all members of our community participate in the FIP to help shape the future of Furucombo to ensure we are the best that we can be.
In addition, we’ll also talk about Furucombo’s ongoing trading strategy contest and a unique strategy for easily sending out multiple tokens all at once.
Without further ado, let’s get to the updates!✨
# Furucombo’s Update
✅ First Furucombo Improvement Proposal is up
The first-ever FIP is initiated & is now open discussion on our forum. The topic of FIP 1 is focused on Treasury Management.Abstract:
As Furucombo continues to scale, it is imperative that we raise the conversation of community contribution and overall governance. DAO should be established to stimulate community participation.Proposal:
1) How will the governance process be structured?
2) The arrangement of the 12 community key holders.
• 4 keys from the core team
• 4 keys from Protocol Partners
• 4 keys to community elected delegatesIf you are interested in becoming a DAO key holder, or contributing to the community, jump into the conversation on the forum!
✅ Furucombo Trading Contest is heating up
ICYMI, our trading contest is still ongoing and will open until February 20th. Experts & investors, don’t miss out on the chance to join and win up to $10,000 prizes! You can find more details in this article.To get your creativity flowing, we have prepared an example to give you some inspiration!
Strategy: Long on ETHDescription: *at the time of writing, the data matrix was noted as below.
1. Opened a Maker vault with the original 12 ETH position & was able to borrow 17500DAI (~170% collateralization ratio).
2. Swapped the DAI for more ETH, increasing the position from 12 ETH to ~19 ETH.
3. Added ETH (borrowed funds) to CRVETH pool on Curve to generate 13% min. APY to max. 34% APY with 50% exposure to ETH & 50% exposure to CRV.
4. Final result: changed the original 12 ETH position to ~15.5 ETH & ~3000 CRV & earning up to 34% APY on ~7 ETH staked into the Curve pool.It’s time to put your trading skill to the test! Submit your strategy through this form, and ensure you are able to submit it before the deadline.
# Hot combos
✅ The hot feature: the send token cube
We all know that sending crypto to multiple addresses is super time-consuming and inconvenient. This user took advantage of the power of Furucombo to use “send token” cube to bundle 39 transactions into one to save time and frustration! If you want to send out crypto to multiple addresses, don’t forget to use Furucombo to make your trading efficiently and effortlessly.
Want to see more DeFi strategies? Check out our explore page. You can find up to 50 combos with its own detailed explanation about how it works!
Hope you enjoy this week’s content! 🤓
If you experience issues that are not covered in this guide, please reach out to the team directly through telegram.