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#ExtraFi -new leveraged yield farming and compounder for #Velodrome LPs
Launched open beta 2 weeks ago.
Already growing at a staggering rate (currently over $700k in TVL).
Emissions yet to begin and token still not launched.
You're still early!
app.extrafi.io
Launched open beta 2 weeks ago.
Already growing at a staggering rate (currently over $700k in TVL).
Emissions yet to begin and token still not launched.
You're still early!
app.extrafi.io
1/ Use case
Single sided lending pools for idle assets on supply side with leverage and auto-compounding for farmers.
Valuable tooling for users looking to manage risk, improve capital efficiency or earn extra yield through LYF.
Single sided lending pools for idle assets on supply side with leverage and auto-compounding for farmers.
Valuable tooling for users looking to manage risk, improve capital efficiency or earn extra yield through LYF.
2/ Distribution
Generous community (60%) and partnership allocation (26%) to play a key strategic role in the ve(3,3) game
Emission plan is TBD, but will need to account for user behaviour and market dynamics (e.g incentivising lenders for heavily utilised pools, etc)
Generous community (60%) and partnership allocation (26%) to play a key strategic role in the ve(3,3) game
Emission plan is TBD, but will need to account for user behaviour and market dynamics (e.g incentivising lenders for heavily utilised pools, etc)
/3 Token utility
$EXTRA will be distributed to incentivise farming and lending pools.
Users will have the option of locking $EXTRA for a period of up to a year following the ve model to reward long-term holders and stabilise price.
$EXTRA will be distributed to incentivise farming and lending pools.
Users will have the option of locking $EXTRA for a period of up to a year following the ve model to reward long-term holders and stabilise price.
4/ As well governance/voting rights veEXTRA will have a number of uses:
Additional yield from emissions and buy-back from protocol fees.
Unlocking higher leverage for yield farming pools.
Access to lending pools with high utilization rates.
Additional yield from emissions and buy-back from protocol fees.
Unlocking higher leverage for yield farming pools.
Access to lending pools with high utilization rates.
5/ Ecosystem
Launching on the most established #Solidly protocol #Velodrome with potential reciprocity on veTokens/bribes
Attractive to protocols looking to increase TVL via bribes or lending market
Very little competition in the space (already comparable to #Tarot in TVL)
Launching on the most established #Solidly protocol #Velodrome with potential reciprocity on veTokens/bribes
Attractive to protocols looking to increase TVL via bribes or lending market
Very little competition in the space (already comparable to #Tarot in TVL)
/6 #ExtraFi will also be a very strong contender for future Optimism grants thanks to its ability to attract capital to the chain
/7 Product
Clean, minimalist design ethic. Refreshing lack of bananas, primates or other fruits and vegetables.
Excellent visualisation of risk parameters
Great code optimisation keeps gas fees low
Integrated with LiFi bridge for user on-boarding. Maybe hint at a cross future?
Clean, minimalist design ethic. Refreshing lack of bananas, primates or other fruits and vegetables.
Excellent visualisation of risk parameters
Great code optimisation keeps gas fees low
Integrated with LiFi bridge for user on-boarding. Maybe hint at a cross future?
/8 Security
Audited by PeckShield
Partnership agreed with InsurACE
Business case makes a lot of sense with no outlandish promises made by the team
Methodical development process launching first on testnet, followed by open beta before main product launch
Audited by PeckShield
Partnership agreed with InsurACE
Business case makes a lot of sense with no outlandish promises made by the team
Methodical development process launching first on testnet, followed by open beta before main product launch
/9 Strong community engagement in soliciting feedback for bugs and improvement suggestions
Clearly competent development team that is capable of quickly iterating on feedback
Clearly competent development team that is capable of quickly iterating on feedback
/10 Go check out the project - you can open a position from as little as $10.
Also please say hi 👋👋 in the Discord. Super friendly with very active and helpful mods: discord.gg/w8DkrjYA
Also please say hi 👋👋 in the Discord. Super friendly with very active and helpful mods: discord.gg/w8DkrjYA
/11 Please check Medium for some detailed thoughts: bit.ly/3BU1kNt
Looking forward to doing some serious theory crafting on strats once token launches.
Congrats to the team on a very successful launch 🥳
Looking forward to doing some serious theory crafting on strats once token launches.
Congrats to the team on a very successful launch 🥳
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