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Snowball Weekly Newsletter — 18/02/2022

This was a busy week for Snowballers, and thus we have much to share in this week’s newsletter. Catch up to recent events below!

Optimized Pools

The major event this week was the released of our greatly anticipated Optimized Pools. Single-staked assets through lending protocols have been gaining much popularity over the last few months, and with these new pools gone are the days of switching between them to fetch the best rates.

Our team is pushing out as much content as possible regarding these innovative new pools; an article covering their introduction can be found here, and a great infographic by our talented artists can be found below:

HakuSwap AMA

Our series of AMAs in the Avalanche is continuing, this time with us hosting our friends over at HakuSwap for a quick AMA on our Telegram channel. If you’ve missed this event, be sure to check out the transcript here and learn about their awesome project!

A Day For Valentines

This week Valentine’s Day came and went, and we at Snowball hope everyone had a merry time with your loved ones. In this increasingly decentralized and digital world, it’s always important to cherish those around you. Much love from the Snowball team to our community!

The Future Of Proposal 21

With proposal 21 passed, xSNOB will be utilized more than ever. While veToken has yet to launch, you can learn about what the proposal means for Snowball and xSNOB by reading our short article released this week about it here.

Snowball Stats

  • $85,000+ of value harvested in our compounding strategies this week.
  • 59.43% 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 1.37 years!
  • This week 19,945 SNOB was distributed to xSNOB holders, alongside 1,621,824 AXIAL tokens. This makes up an APR of 73.83% per xSNOB.
  • 40.02% of all xSNOB holders have participated in governance.

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

About Snowball

Snowball is a Venture DAO and an auto-compounder for liquidity rewards. It was the first auto-compounder launched on Avalanche and it prides itself on being entirely community run. If you’d like to be a part of Snowball, join the conversation in Discord or Telegram. Stay up to date on our Twitter.

Website | Twitter | Discord | Telegram | Docs | GitHub

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Ncookie

Ncookie

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