PowerPool Q&A #3: Gamma round soon
Hey, PowerPool community! We are extremely busy preparing Gamma round to kick off next week. We got a lot of questions from you guys and decided to answer them in our traditional Q&A article.
Main Q: When Gamma? WHEN GAMMA?
The Gamma round is scheduled for next week. Now we process tons of applications to select 100 Gamma participants. Our selection criteria are as usual — we need people who will help us to build a Tier-1 DeFi project, scale it, and deliver it to the market.
Q: When is the mainnet launch scheduled?
Mainnet launch is scheduled for the mid of September. We will launch the PowerPool mainnet version once the security audit will be completed.
Q: Does anyone have a general idea of the emission schedule of CVP token, or how long we could expect it to take for the total 100m supply to be distributed?
The remaining 80 millions of CVP tokens will be distributed via liquidity mining. We will announce the liquidity mining program soon. According to it, it will take years to distribute all CVP.
Q: You mentioned in Twitter that “interest rate was dropped to beta testers”. Does it mean that CVP rewards for Beta round participants were distributed?
No, rewards weren’t distributed yet. The dropped interest rate is the little amounts of GTs, which are needed by our Beta participants to return borrowed GTs and withdraw their funds from the protocol. We decided to make it this way to simplify the experience of our testers: if we didn’t do that, each Beta tester had to transfer a little amount of GTs to xDAI manually to close the loan, and spent fees and time for that.
Q: Where I could find the governance dashboard?
We are working on a governance dashboard right now. Wait for an announcement please, we will make it soon.
Q: When beta tokens will be distributed?
The Beta tokens will be distributed in the following way: the first 10% of the reward will be dropped to Beta wallets shortly after the mainnet launch, and the remaining 90% will be deposited to a special vesting contract. Tokens on this contract will be locked for three months, and after that released via a 3-months vesting scheme, according to which ⅓ of tokens can be claimed each month. Locked tokens can participate in governance.
Q: Would it be possible for CVP to change its total supply in the future?
No, it is not possible.
Q: How gamma applicants will know are they accepted or denied?
Each accepted Gamma round applicant will be notified early next week with an email with a set of instructions.
Q: How can I withdraw my USDC out of the PowerPool xDAI wallet? Can you help me?
Please, share your Ethereum address in our “cross chain-transfers-help” discord channel. We will drop a little amount of xDAI to your wallet and you will be able to get your tokens back on Ethereum.
Q: I have some CVP. How can I use them right now to get more CVP?
Now you can supply liquidity to Uniswap and Balancer pools. The mentioned pools (Uniswap, Balancer 50/50, Balancer 95/5, Balancer 90/10) are participating in the liquidity mining program. All addresses, supplying liquidity in these pools will be rewarded by CVP. There are no random snapshots, we track each block from the launch of the Uniswap pool. The details will be published soon.