Protofire Builds ve8020 Launchpad for Balancer

Protofire Builds ve8020 Launchpad to Help Protocols Adopt Vote-Escrowed Governance

Protofire is working with Balancer, DeFi Liquidity Protocol, to build the ve8020 Launchpad. This launchpad will make it easier for other protocols to adopt the veToken model, designed to be more fair and efficient than traditional governance models.

The ve8020 model is based on the concept of vote-escrowed tokens, or veTokens. VeTokens are created by locking up regular tokens for a period of time. The longer users lock up their tokens, the more veTokens they receive. VeTokens can then be used to vote on proposals and to earn rewards.

The ve8020 model has several advantages over traditional governance models.

• It helps to align the interests of users and the protocol. Users who lock up their tokens have a vested interest in the long-term success of the protocol, and they are more likely to vote in a way that benefits the protocol as a whole.
• It helps to reduce volatility. When users lock up their tokens, they take them off the market. This reduces the circulating supply of tokens and can help to stabilise the price.
• It is more efficient than traditional governance models. Traditional governance models often require a high quorum for proposals to pass. This can make it challenging to get things done, especially in large and diverse communities. The ve8020 model does not have a quorum requirement so that proposals can pass more easily.

If your imagination about all the potentiality of this tool tickles, don’t hesitate to schedule a call!

Protofire’s Role in the ve8020 Launchpad

Protofire is responsible for developing the smart contracts and frontend code for the ve8020 Launchpad. The company is also responsible for providing documentation and support to projects using the launchpad.

The ve8020 Launchpad will make it easier for projects to launch their own veTokens by providing a step-by-step guide, template contracts, and frontend code. This will allow projects to focus on building their products and communities rather than worrying about the technical details of implementing the ve8020 model.

Interested? Visit our Launchpad!

Other Big Players Involved

Other leading projects that are involved in the ve8020 Launchpad include:

• Alchemix
• Aura
• Radiant

These projects are committed to adopting the ve8020 model and working with Protofire to make the Launchpad successful.

And the list is growing every day. Want to be part of it? Schedule a call!

The ve8020 Launchpad is a significant development for the Web3 ecosystem. It will make it easier for projects to adopt the ve8020 model and help accelerate the adoption of this new model.

Benefits for Balancer

Increased adoption of the veToken model. This will make Balancer more attractive to new users and projects, and it will help to strengthen the Balancer ecosystem.

Reduced governance costs. Balancer currently spends a significant amount of money on governance incentives. The ve8020 Launchpad will help to reduce these costs by making it easier for projects to implement their own veToken programs.

Increased decentralisation. The ve8020 Launchpad will help distribute voting power more evenly and give smaller users a greater voice.

If you are interested in launching your own veToken with the ve8020 Launchpad, please visit our website!