GoodGhosting Curve Savings Pools — New Yield Strategies!
GoodGhosting v2 is launching and in preparation we have 2 brand new pools, using two new yield strategies on Curve Finance. Each pool has different levels of risk to suit players who are looking for safe returns or higher risk with greater potential rewards. Or if you want, you can also enter both pools!*
The Rules of the Pools
Each pool will be capped at a maximum of 2,000 participants, so it’s important to join quickly when the pools go live on Wednesday the 3rd of August so you don’t miss out!
Both pools will require 4 x $10 deposits in the DAI stablecoin to successfully complete the pool. Both of these pools with Curve give you exposure to a number of different tokens, but you’ll be depositing, earning rewards and withdrawing in DAI.
The benefit of our new strategies is that in addition to lending interest, you also earn swap fees and extra token rewards (such as CRV). Another new aspect is that you will have exposure to a basket of multiple tokens. The exact price of all tokens in the Curve pool will determine how much you gain or lose at the end. You can choose between a pool that only has exposure to stablecoins, or a more risky volatile asset pool. But you can read more about that later in this article.
Remember, as always with GoodGhosting you’ll need to successfully complete all deposits in the savings pool to win the rewards. If you miss one or more deposits you’ll forfeit your rewards gained to the winners of the pool!
What is Curve and how does it work? (in a nutshell)
Curve is an exchange liquidity pool on Ethereum (like Uniswap). It’s designed for extremely efficient and low fee trading. As a depositor in our GoodGhosting Curve pools you’ll be providing DAI liquidity for Curve and in return they provide you with a portion of the swap fees they charge their users. For more information on Curve you can visit their website here: https://curve.fi/aave/faq
Our GoodGhosting strategies forward funds from our savings pool contract into specific Curve pools. After the savings game is completed, the strategy withdraws the funds again in the same initial currency (e.g. DAI). Any earned CRV token incentives are distributed as-is.
All Curve liquidity pools have multiple assets with an equal target balance. This means each coin you are exposed to has the same weight. For example, the Curve Aave Strategy has exposure to three stablecoins (DAI, USDC and USDT), meaning each coin accounts for roughly 33%.
Curve Aave Pool strategy (Medium Risk)
This strategy offers very low volatility and uses the Curve Aave lending pool. When a GoodGhosting user makes a DAI stablecoin deposit into this savings pool, the deposit gets forwarded to Curve and split across three different stablecoins. This means you now have exposure to price fluctuations of USDC, USDT and DAI. In this case, it’s like buying 33.3 cents in each stablecoin for every $1 deposited. The strategy earns interest from lending as well as trading fees. Additionally, you will get some Curve (CRV) tokens on top.
Curve Atricrypto Pool strategy (High Risk)
This strategy offers exposure to USDC (11.1%), USDT (11.1%), DAI (11.1%), WBTC (33.3%) and WETH (33.3%). Being exposed to the volatile coins Bitcoin and Ethereum mean there is a chance of greater gains (or greater losses) when they go up or down in value. This pool is continuously rebalancing as these are volatile assets. The benefit of bundling the exposure to stablecoins and volatile coins is that it leads to more swap fee revenue, while still controlling the level of risk and potential loss. If WBTC or WETH were to fall in price, as they only make up ~66% of the coins you have exposure to, you would lose in relation to that percentage. Likewise, if it goes up you would gain in the same ratio. This is a high risk strategy, so please only risk funds you can afford to lose!
Read more about our yield strategies, risk framework and other risks such as slippage and impermanent loss in our documentation.
Sponsorship — The More Players The Higher The Reward! 📈
Successfully completing a Curve pool will give you 200 GG points PLUS as the pioneer of a whole new yield type you will get 300 bonus GG points for each pool!
Each pool will be sponsored with 500 DAI and an additional 500 DAI if over 1000 people join the pool, making the combined potential total sponsorship for the Curve pools $2000.
Disclaimer of Risk:
*This is not financial advice. Be aware that you may lose money investing in these pools. GoodGhosting strategies using automated market makers (AMMs) like Curve have additional risks due to slippage, price impact and impermanent loss.
If you want to learn more about the risk classifications and our risk framework you can here.
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