PowerPool
Published in

PowerPool

PowerPool Q&A #2: Beta Round

Our community sent us many questions via Discords, Twitter, and e-mail, and most of them were the same — related to CVP token, and it’s distribution rounds.

Q: Have CVP been distributed already? Was it an airdrop? How people were selected?

Yes, CVP tokens were distributed to our Alpha testers on the 28th of August. The Alpha round was conducted in mid of August, the results of Alpha are published here. For the Alpha round, 100 testers were selected from more than 2,000 applications. These people helped develop this project from a very early stage when we didn’t have any public profile, recognition, and community. Many people didn’t believe in the idea or didn’t reply at all to our emails or messages. It is ok for any early-stage startup, and we appreciate all the support that we got in Alpha.

It wasn’t an airdrop. Nobody got tokens automatically being selected. All Alpha participants work a lot without any compensation facing 99% risk (it’s an early-stage startup!) that project will fail, and they will get nothing. They bet their time and efforts on PowerPool, work a lot, and get rewarded.

The people were selected by the value that they can bring to the project. Strong field expertise, tech/product development, liquidity provision, and community building were our criteria. Current PowerPool results clearly demonstrate that the right set of contributors was selected. Thanks to them, the project has achieved good results at this stage. If you weren’t selected, it means that there were more solid contributors on the list.

Q: How did you select people for Beta? What is the schedule of distribution for Beta tokens?

For the beta round, people’s selection criteria were close to what was used for the Alpha round with one addition — Protocol Politicians. According to our vision of meta-governance protocol, Protocol Politicians are vital players in the governance process.

Protocol Politician(PP) is a person with a high level of trust and engagement in a particular protocol or the crypto ecosystem as a whole. PPs issue proposals and influence the governance process by their personality and reputation, acting as Party Organizers in the Congress.

So, a significant share of Beta testers were people who fit the Protocol Politicians’ role at least in one protocol. The Beta testing is almost finished, and we already received well-detailed reports from them.

Talking about the distribution of CVP tokens for Beta testers, the schedule follows: 10% of reward will be distributed at Mainnet launch, and the remaining 90% locked for three months. All vested tokens can be used for governance during the lock-up period.

Q: How will the remaining 95,000,000 CVP be distributed? What’s the plan and how to participate?

CVP token distribution schedule was published in the latest article: 10,000,000 CVP are allocated to Beta and Gamma testing rounds; 5,000,000 CVP for Community Pool, and the remaining 80,000,000 CVP will be mined by our liquidity providers in mainnet. At the moment there are three possibilities to get CVP:

  • Participate in Gamma round
  • Provide liquidity in mainnet
  • Provide liquidity to pools on Balancer and Uniswap: we already taking random snapshots

Q: Would you list tokens on centralized exchanges?

No, we are not involved in the listing process. All the listing initiatives are created by the community or exchanges themselves.

Q: How do you plan to move further with CVP governance? Can I stake my CVP?

The Power Forum will be launched tomorrow. It will be an open platform for issuing proposals and discussions for all parties involved in the governance process: The Majority and Minority token holders, and Protocol Politicians.

Regarding CVP staking — at the moment, you can stake your CVP to provide liquidity in Balancer and Uniswap pools and get rewarded in CVP for that later. Snapshots are already collecting.

--

--

--

PowerPool allows token holders to lend, pool, borrow, and gain income from governance tokens, while accumulating governance power in protocols based on the Ethereum network. PowerPool’s mission is to expand the utility of governance tokens and improve decision making in DeFi.

Recommended from Medium

Creator’s Survey Along With Airdrop For Participants!

2018 Rewind — from Techstars to Tachyon

The truth about money and Bitcoins

Battle Drones x Solanium: New Strategic Partnership

NLC listing cancelled

It’s Official: Facebook’s Libra is Boring

Facebook sign on dark background with bright backlighting

CREW Coins: Increasing the interactivity of mint experiences.

Did you know a lion can never play golf? But tiger wood😜

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
PowerPool

PowerPool

A solution for accumulating governance power in Ethereum based protocols

More from Medium

FairySwap Tutorial | How to add/remove liquidity

Empowering a New Era of NFT Utility — FEAR & Muon AMA recap

BlueBit Finance | Vespertine Capital

YIN Finance Partners with Themis Protocol to Extend DeFi Products