Volta Club Expands
We are pleased to announce Volta Club’s acquisition of Uwu Lend!
With a $215mm FDV and over $280mm of assets deposited, UwU Lend is a highly valuable asset. Earning ~$19,000 in daily revenue and a growing user base, this deal has been forged to provide long term added value for our holders.
After long discussions and negotiations the team has decided to purchase full control of the protocol for a total of $8.4mm. This purchase includes 2.8mm UwU tokens at $3 each and also includes full ownership and control of the protocol and its treasury. Existing token streams will be canceled and reallocated.
This unification of protocols offers many advantages:
- A profitable revenue stream for our treasury and protocol controlled access to additional yield streams for Volta Club members.
- Acquisition of a highly valued, fully functional and historically secure lending market and its future at a comparatively low cost.
- The protocols are working hand in hand already. With this step we ensure that the Volta Club DAO will direct its future and continue to expand. The untapped potential is high and will greatly benefit Volta Club members.
- The combination of Volta Club’s resources, its multi-member team, and the active community of holders have the potential to improve the existing system and build an even better future.
- No single-sided control in decision-making and leadership enhances security and reduces risk for all UwU Lend users.
- UwU Lend offers collateralization of Volta tokens, allowing the team to direct emissions to Volta holders, earn interest, and use as collateral for loans.
These are just some of the important factors that were weighed into the decision to take the step of acquisition over continued partnership.
Changes for Volta Club
UwU Lend will be added to the Volta Club DAO system and managed by the Volta Club management team. The development will fall to Volta Club’s Technical department, and operations and communications for UwU Lend will also be managed by their respective departments within the management team. Additional costs will be covered by the UwU Lend treasury wallet. No additional budget increases will be required for these expenses.
The UwU Lend treasury maintains up to 20% of the total UwU-ETH LP. This means the treasury earns 20% of all platform proceeds due to the 100% revenue sharing to LP stakers. Platform fees vary week to week but the most recent figures put total revenue around $19k daily. Hence the UwU treasury earns ~$114k per month, well above all operating costs. The vast majority of earnings (>80%) are stable coins. Due to this, any expenditures will not negatively impact the UwU token price.
Ownership of the UwU Lend treasury and multisig wallets will be transferred to Volta Club and count towards the treasury and Volta backing.
Profits and proceeds will automatically add to the backing and treasury balance sheet as existing segregated wallets do now.
Looking Forward
Volta Club is continuing to expand the features it can offer to users. With this acquisition, Volta Club now features an in-house lending platform. The migration and switch to LayerZero OFTs introduced an in-house bridging solution for our protocol. Revenue from these and other future developments will always go towards the treasury and provide benefits to Volta holders.
For more information about UwU Lend, explore the links below!
