GAME ON
Pollen Virtual Is Live: Let the Games Begin
After an overwhelmingly positive community vote and several months of testing, we’ve launched Pollen’s first and foundational module on mainnet. Welcome to the future of asset management.
We made it. Our first and foundational module, Pollen Virtual, is live on mainnet. The Pollen ecosystem has been set in motion, and we’re now firmly on our way to changing asset management for the better. The game is on.
What it took to get here is no mean feat:
- Nearly two years in development
- $7 million raised from early investors
- Six months of active testing
- 30 tireless Pollen team members
- 7,000+ beta users with nearly 20,000 rebalances
- And, last but not least, 100,084 community votes — a whopping 99% majority — in favor of mainnet launch, which gives us even greater confidence that we’re on the right track.
The result: Pollen Virtual is here to give every trader — whether expert or novice, DeFi-savvy or crypto newcomer — the level playing field of a safe and accessible sandbox environment to test and showcase their trading capabilities, all the while earning rewards and reputation.
Join Pollen Virtual now.
While a game-changer in itself, Pollen Virtual is but a foundation for the Pollen ecosystem: a preliminary round that singles out the top traders, harvesting their collective intelligence to feed into the real, asset-backed, and community-driven indexes.
Due to launch by end-2022, Pollen Indexes will score the real match-point, disrupting asset management — that last, billion-dollar stronghold of traditional finance, hitherto reserved for those sufficiently affluent, knowledgeable, and well-connected — to a point of no return.
Imagine a near future where everybody can have a piece of the DeFi pie. Bull or bear market, 24/7, simply and safely, with no intermediaries and no barriers. This is what Pollen is building.
For this future to become a reality, we need you on Pollen. So without further ado — let the games begin.
What is Pollen Virtual?
Pollen Virtual is a trading simulator that lets you create and manage virtual portfolios, earning you reputation and PLN token rewards.
The better your basket of virtual allocations performs against a market benchmark, the more rewards you get and the higher up the Pollen Leaderboard you climb. As Pollen Virtual is merit-based, poor performance lowers your reputation score and results in PLN being burnt.
Less confident in your trading abilities? You can leave the decision-making to the top performers on the Pollen Leaderboard and take home 80% of the rewards by delegating your PLN.
Whether you’re an active Pollenator or delegating to others, you can lock up your PLN for up to four years by converting it to vePLN, and still use it within the Pollen ecosystem. By holding vePLN, you not only boost your Pollen Virtual earnings by up to 20% and receive pro-rata rewards, but gain voting rights in the Pollen DAO.
The earlier you join Pollen Virtual and lock up your PLN for vePLN, the higher the rewards. Join Pollen Virtual now.
How does Pollen Virtual work?
PLN & vePLN
First, meet the tokens: PLN is the Pollen ecosystem’s native token, and vePLN is Pollen’s voter escrow token, which is obtained by locking your PLN.
You need PLN to become a Pollen Virtual user, and the rewards you earn on Pollen Virtual are in PLN. You can withdraw PLN staked or earned at any time.
vePLN boosts your Pollen Virtual PLN rewards by up to 20%, enables you to receive pro-rata rewards and gives you voting rights in the Pollen DAO. The longer you lock up your PLN for — with the minimum 90 days, and the maximum 1405 days — the more your Pollen Virtual rewards will be boosted. vePLN is not a tradable token itself, and cannot be earned as a reward, but can be burnt as a result of poor portfolio performance.
You can buy PLN on Ascendex, MEXC, and Trader Joe. If you participated in the Pollen Virtual Beta or Pre-Release, you may be eligible for our early-bird PLN airdrop (see below).
Voted in the Pollen Virtual Launch vote? Don’t forget to reclaim your PLN here.
The reward pool
By creating a Pollen Virtual portfolio, you compete for a piece of the 106M PLN reward pool and a higher position on the Pollen Leaderboard. The reward pool is distributed for both performance rewards and staking pro-rata over 1405 days, or nearly four years, and as such, the earlier you join Pollen and lock your PLN for vePLN, the greater your chances of securing a larger portion of the staking reward pool. Starting June 2022, 3% of the total reward pool will be released in each of the first four months, and 2% in the following 44 months.
The portfolio
The Pollen Virtual portfolio follows a simple logic: you stake PLN or vePLN to create a portfolio comprising the virtual assets available on Pollen, and start rebalancing in a bid to outperform the market and earn rewards.
The minimum balance you need to create a Pollen Virtual portfolio is 1 PLN or vePLN. The more PLN or vePLN you stake, the more PLN rewards you will earn if your portfolio outperforms the market. If your portfolio underperforms in relation to the market, a portion of the PLN staked will be burnt.
PLN rewards and PLN and vePLN penalties are proportional to the virtual profits and losses of a given virtual portfolio and the PLN and vePLN staked in that portfolio.
Virtual assets vs real assets
The virtual assets you allocate to in your Pollen Virtual portfolio represent real assets, meaning that they rise and fall depending on each asset’s performance in real life.
Crucially, however, there is no exposure to the underlying assets in your Pollen Virtual portfolio: they are purely simulations, with only PLN earned or burned depending on the portfolio’s performance.
The virtual assets currently available on Pollen are AAVE, ALPHA, AVAX, BTC, CRV, CVX, DYDX, ETH, FIL, FTT, FXS, JOE, KNC, LINK, QI, SPELL, SUSHI, UNI, XAVA, and YFI. More assets will be added as we update and upgrade Pollen Virtual. A single portfolio can initially have up to 10 assets.
Delegation
In addition to or instead of creating and managing your own Pollen Virtual portfolio, you can delegate your PLN or vePLN to other Pollenators from the Pollen Leaderboard. If their portfolio outperforms the market, you earn 80% of the PLN rewards relating to the amount you delegated. Equally, if their portfolio underperforms, resulting in PLN or vePLN being burnt, you only bear 80% of the losses.
The maximum that can be delegated to a portfolio is a total of 100,000 PLN or its vePLN equivalent. Where PLN or vePLN is delegated to a portfolio, any profits and losses are shared 80/20 between the delegator and delegate, respectively.
Reputation
The outcome of your trading decisions also affects your reputation score and position on the Pollen Leaderboard. “Reputation” within the Pollen ecosystem measures the ability of a Pollenator to make good trading decisions. Pollenators are ranked on the Pollen leaderboard based on their reputation score, allowing potential delegators to easily see who the most reliable and trustworthy traders are.
That reputation score is updated whenever you rebalance. The more you rebalance, the more certainty our algorithm has around estimating your skill, and the greater your chances of scoring a higher reputation. To find out more about Pollen’s reputation scoring algorithm, please refer to our litepaper.
The minimum time between rebalances is 1 hour.
Control
Pollen Virtual is operated by the Pollen DAO, itself managed by a multi-signature wallet as admin, which you can track here. Once a Pollen governance portal is developed over the coming months, this multi-signature wallet will renounce its admin rights to the deployed Pollen DAO contract.
How do I join Pollen Virtual?
Joining Pollen Virtual is simple, and requires only three easy steps:
- Head to the Pollen Virtual app on app.pollen.id.
- Connect your Metamask wallet. Make sure the wallet connected is the one where you hold your PLN, and that you have added Avalanche as a network. New to Metamask? Follow the instructions here.
- Enter the amount of PLN you wish to stake to create your Pollen Virtual portfolio or start delegating, and approve the transfer.
No PLN? You can get some on Ascendex, MEXC, and Trader Joe.
Please note that you will need a small amount of AVAX to cover gas fees for the transactions necessary to create and rebalance your portfolio.
If you participated in the Pollen Virtual Beta or Pre-Release, you may be eligible for our early-bird PLN airdrop (see below).
I was a Pollen Virtual beta user, what now?
We would not be on mainnet today if it wasn’t for our early-bird Pollenators.
As show our appreciation, Pollen Virtual Whitelist Beta and Pre-Release users will not only have their positive reputation scores ported to mainnet, but receive PLN token rewards for a head start.
We are distributing over 200,000 PLN among nearly 3,000 Pollenators from our leaderboard who actively participated in the testing stages, rebalancing at least once, as follows:
- Top 10: 2,500 PLN
- 11–100: 1,000 PLN
- 101–200: 500 PLN
- 201–2,962: 5 PLN
- An additional 100 PLN for each Pollenator with five or more rebalances
Prizes will be dropped by June 8, 2022, to the wallets listed here.
Remember that your Pollen Virtual Whitelist Beta and Pre-Release registrations are not ported to mainnet. You will need to register to the Pollen Virtual mainnet app here, and set up your portfolio once again.
If you voted in the Pollen Virtual Launch vote, don’t forget to reclaim your PLN here.
Happy pollenating!
About Pollen
Pollen is a first of its kind decentralized asset index where the community holds all the power. Decentralized finance is designed to be by the people, for the people, and Pollen is acknowledging this by building the first, truly decentralized platform for managing tokenized asset pools. The merit-based DAO provides a reputation-based governance protocol with incentives that leverage the community’s collective wisdom to curate asset pools. In this system, all users of the platform stand to benefit from the contribution of the best-performing participants.
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