Sweet Caramel Has Arrived
Sustainable. Stable. Sweet.
Popcorn’s debut app is live, marking a historic moment on the DeFi for Good journey. Sweet Caramel contains POP staking and rewards claiming interfaces and will be the home of our first product to market, Butter.
Token Launch Participants have exclusive early access to Sweet Caramel functionality and will be able to farm POP for the first two weeks starting on February 5, 2022. Staking functionality will then be made available to the public. 🍿
You can also now scoop up some POP on Uniswap (Ethereum)and Sushiswap (Polygon) to prepare for the public launch!
What about Butter? 🧈
The release of our yield optimizer, Butter, has been delayed due to recent events involving Abracadabra and MIM. Although the product is fully functional, we’ve decided to change Butter’s underlying assets to address the concerns over MIM and offer the best possible release in today’s DeFi landscape. To compensate for this delay, we are reallocating the Butter rewards pool to the POP staking rewards pool on Ethereum.
While the core team is exploring options for Butter such as Iron Bank’s Fixed Forex, we also want to hear suggestions from the community on what you think Butter should be composed of. Head over to the forum to share your thoughts in the Yield Strategies category.
Read more about our decision to move away from MIM in this post from Popcorn core developer Leon: Where’s Butter?
See Sweet Caramel in Action
Want to see a sneak peak of Sweet Carmel in action? This video shows a demo of the staking and rewards interfaces, as well as a preview of what minting Butter looks like.
Sweet Caramel Functionality & Liquidity Mining
With the current version of Sweet Caramel, you can:
🍿 Stake POP to earn POP rewards on Ethereum and Polygon, and
🍿 Stake POP-USDC LP tokens to earn POP rewards on Ethereum and Polygon
1,800,000 POP has been allocated for liquidity mining rewards that will be made available starting on February 5, 2022.
Total POP Rewards on Ethereum: 1,224,000
Total POP Rewards on Polygon: 576,000
POP Staking on Ethereum:
Rewards: 1,008,000 POP tokens
POP Staking on Polygon:
Rewards: 360,000 POP tokens
POP-USDC on Ethereum:
Pair: USDC — POP
Rewards: 216,000 POP tokens
POP-USDC on Polygon:
Pair: USDC — POP
Rewards: 216,000 POP tokens
Vesting Rewards
10% of your POP rewards will be distributed immediately after claiming your rewards with the remaining 90% vesting over 12 months thereafter.
- Vesting: 1 year
- Weekly Emissions: decaying linearly
Adding Liquidity and Earning Rewards
Adding USDC-POP liquidity on Ethereum and Polygon is easy with Sorbet and Sushi.
For Ethereum, head over to Sorbet Finance and deposit your POP and USDC to receive G-UNI USDC/POP LP tokens. For Polygon, follow this link to connect your wallet to Sushi, approve access to your POP and USDC, and mint SushiSwap LP tokens.
You can then connect to the respective network on Sweet Caramel and stake your LP tokens for additional rewards. Be aware that both positions on Uniswap and Sushiswap are at risk of impermanent loss. Learn more about impermanent loss and how to avoid it with this post from Bankless.
How Sweet Caramel Drives Global Impact
Not only can POP tokens earn staking and liquidity mining rewards, but they also allow you to vote on governance proposals and beneficiary nominations. These beneficiaries include nonprofits, charities, and grassroots projects working in the areas of environment, education, open-source, and inequality. Once Butter is released, a percentage of earned protocol fees will automatically go toward beneficiaries selected by PopcornDAO.
By using Sweet Caramel, you’re contributing to positive outcomes around the world without any additional cost or effort.
A Taste of What’s to Come
As markets evolve, so will Popcorn’s products. Follow-up releases will refine and expand the yield-generating methods used to optimize returns. Here’s a brief glimpse into the Popcorn pipeline:
Yearn Finance
Integrating Yearn and its suite of automated asset strategies will not only allow users to generate competitive yield on their stablecoins, but also on a broad spectrum of crypto assets.
Iron Bank
Incorporating Iron Bank’s decentralized Fixed Forex market will allow for greater diversification beyond US dollar-pegged stablecoins. Fixed Forex is the collective name for USD, EUR, ZAR, JPY, CNY, AUD, AED, CAD, INR, and any other forex pairs launched under the Fixed Forex moniker.
Fantom
Entering Fantom’s booming DeFi ecosystem will enable Popcorn to capture value from a robust range of projects, contributors, and participants. Fantom is an open-source smart contract blockchain that has surpassed Solana and Binance Smart Chain in TVL — claiming 6.15% of the nearly $200 billion DeFi market.
The Future is Sweet
Ready to dive into Sweet Caramel? Head over to popcorndao.finance to experience it for yourself. You can also pick up POP on Uniswap and Sushiswap to join in on the Popcorn mission.
It’s been one year since Popcorn first came to fruition as a way to align financial wellbeing with positive global impact. The release of Sweet Caramel is a huge milestone on our mission, but purpose-driven DeFi won’t be perfected overnight.
Markets may go up and down, but Popcorn’s purpose never wavers. Thank you for being a part of the Popcorn revolution!
Follow us on:
Twitter: https://twitter.com/Popcorn_DAO
Discord: https://discord.com/invite/w9zeRTSZsq
Telegram: https://t.me/popcorndaochat
Forum: https://forum.popcorn.network/
Snapshot: https://snapshot.org/#/popcorn-snapshot.eth
