Snowball
Published in

Snowball

Snowball Weekly Newsletter — 07/04/2022

After an exciting monthly community call, it is time to wrap up some of the events that took place this week for those unable to attend. Read all about what we’ve achieved this week below:

New Auto-Compounding Strategies

This week we’ve added 3 new Pangolin strategies to our wide array of options when it comes to Snowball Earn and the pools we offer. They are the following:

These 3 UST pools allow stablecoin fans on Avalanche to pick their preference; the UST-USDC pool can provide great yield with near-zero risk of impermanent loss, while the other two pools allow you to gain exposure to Avalanche’s native asset, or Pangolin’s very own governance token.

We also integrated Vector into Snowball Earn this week, which allows users to make the most out of the platform already building on top of Platypus’s pools. These contribute to some of the best stablecoin rates we have available, meaning you should definitely check out them out!

Find all our new Vector pools here!

April Fools!

We had some fun with our April 1st post this year, and wanted to let everyone know that unequivocally, without a shadow of a doubt, this was a joke. Or was it?

In all seriousness, we do have some exciting updates in the works to further decentralize our pool harvesting process and thus increase the frequency of harvests, particularly on pools with a smaller amount of TVL. Some of this info was shared briefly during this month’s community call, so if you’d like more alpha like this make sure to tune in next time!

OpenSwap Partnership

This week we’ve partnered with OpenSwap to bring the SNOB token to new heights while aiding them in the creation of a more open, decentralized, and fluid multi-chain ecosystem. Read more about their platform and what this means for Snowball in our article here!

New Monthly Stats

If you’re a fan of stats, you’ll be happy to know that the monthly article covering some statistics from Snowball in the last 30 days is out. Check it out here to learn more about how our platform is growing!

Snowball Stats

  • $51,000+ of value harvested in our compounding strategies this week.
  • 61.25% of all SNOB tokens are being staked for xSNOB.
  • 1200+ members of the community are staking their SNOB.
  • On average, SNOB is being staked for 1.36 years!
  • This week 10,805 SNOB was distributed to xSNOB holders, alongside 531,231 AXIAL tokens. This makes up an APR of 28.25% per xSNOB.
  • 40.61% of all xSNOB holders have participated in governance.

Unsure why you should stake your SNOB? Check out our documentation here.

About Snowball

Snowball Venture Studio is a community run DAO whose mission is to spur innovation in the DeFi ecosystem by providing resources and support to new projects and teams. Snowball Venture Studio has already launched or is supporting Snowball Earn, Snowball DeFi University, Axial, Teddy, Lava, and FiHub.

If your DeFi startup is looking for assistance with engineering, design, branding, marketing, or strategy, we would love to speak with you. Join the conversation in Discord or Telegram and stay up to date on our Twitter.

Website | Twitter | Discord | Telegram | Docs | GitHub

--

--

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
Ncookie

JavaScript developer and blockchain enthusiast. Developer of @cookietrack_io and technical writer for @snowballdefi & @axialdefi