The first month of the year is coming to an end, and many things have happened for Snowball. Let’s wrap up what happened this last week in case you missed any of Snowball’s exciting updates:
New Auto-Compounding Strategies
This week we’ve created various new strategies to go along with Pangolin’s introduction of “Super Farms.” These farms can yield a large number of different tokens, meaning our auto-compounding strategies are more useful than ever before. The following pairs are now supported through Snowball:
- AVAX - HTZ
- AVAX - PLN
- AVAX - MAGE
- AVAX - LOOT
Remember to do your own research of the tokens in each pool, and if you’re convinced, feel free to hop into one of Snowball’s pools for the safest and easiest auto-compounding experience Avalanche has to offer.
TUSD AMA Recap
Last week the TUSD popped by our Telegram channel to participate in a quick yet informative AMA (Ask Me Anything). If you’d like a recap of the questions answered, check out our article here.
Teddy Merger Progress
Ever since its proposal passed through governance, the first DAO merger on Avalanche has seen some progress. Meetings between engineers at Snowball and Teddy are taking place to determine the best course of action for integrating Teddy into Snowball. Keep an eye out for more updates in the near future!
Optimized Pools Are Coming
Wouldn’t it be awesome if your assets moved automatically between platforms based on whichever one is providing the highest yield at any given point? We think so too. Our engineers at Snowball have developed just that - and are now testing this new infrastructure to ensure the safety of user funds in such a unique strategy. We can’t wait to share more news of these with everyone!
Snowball Stats
- Over $69,000+ of value harvested in our compounding strategies this week.
- Over 59.43% of all SNOB tokens are being staked for xSNOB.
- Over 1270+ members of the community are staking their SNOB.
- On average, SNOB is being staked for over 1.38 years!
- This week 11,792 SNOB was distributed to xSNOB holders, alongside 1,346,807 AXIAL tokens. This makes up an APR of 38.99% per xSNOB.
- Over 39.65% 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.
