EUR & algo stablecoin yield farming
Narwhale.finance initial distribution and launch details
👋 Hello #DeFi friends
Narwhale.finance aims to provide yield farming opportunities for algorithmic stablecoins, as well as non USD stablecoins like EURS or sEUR, a niche that has recently taken DeFi by storm.
Our initial attention was funneled to non USD stablecoins, but given their low market capitalization, we were forced to reassess and came to the conclusion that algo stablecoins were the subject we would like to tackle.
📐 The Grand Design
- Narwhale.finance will farm the highest yielding algo stablecoins deposited into vaults by users who would like their funds to be taken care of in a non-custodial fashion.
- New strategies will be developed and deployed to keep up with the racing pace that DeFi is currently innovating.
- On top of automatically harvested rewards provided by stablecoins, users will receive an additional incentive in the form of NAWA token.
- NAWA token will eventually migrate to governance, though our view of it is that not everyone should be able to vote on protocol issues on which they do not possess the necessary economic or technical knowledge.
- Users will be able to lend and borrow algo stablecoins.
- 100% of fees generated by the platform will be distributed to NAWA holders through staking.
✒️ NAWA token initial distribution & protocol jumpstart
- Receive NAWA by staking non USD and algo stablecoins.
- 70 000 000 NAWA tokens distributed over 5 years with no hard cap.
- 0 circulating supply at launch.
- NAWA will be minted when staking the following stablecoins or liquidity pool tokens:
sUSD, sEUR, EURS, FRAX, DSD, ESD, AMPL, MIC, BAC, BASED, Sushi-MIC-USDT, Uniswap-FRAX-USDC, Uniswap-BAC-DAI, Uniswap-AMPL-ETH, Moonbased, Curve, EURS-sEUR, Uniswap-NAWA-ETH
- The boostrapping emission period will distribute 100 NAWA per block for the first 2 weeks (roughly 15% of the supply), after which the above-mentioned pools will stop receiving rewards.
- After two weeks the rewards will migrate to vaults and pool 2 at a pace of 20 NAWA per block for the next month.
- The allocation % points for each of the above pools will be proportionally set by market capitalization at the time of writing.
- 10% of block distribution goes to the development fund. Please see Andre’s rant which we currently agree on. We believe developer incentivization is critical for long-term project development and success.
🗺️ Short term roadmap in no particular order
- Launch, deploy and audit vaults and yield farming strategies
- v2 interface design
- lend/borrow algo stablecoins
📱 Social media and useful links
Website: https://narwhale.finance
Join our discord discussion at: https://discord.gg/umhM4MvtKf
Twitter: https://twitter.com/FinanceNarwhale
Stay tuned for published code: https://github.com/narwhale-finance
⚠️ READ
NAWA has not been launched yet and genesis block distribution has not been set. It will be announced in the next couple of days.
Code is based on the original Sushiswap launch and has not been audited.
You should perform your due diligence before interacting with the contracts or staking.
NAWA has 0 financial value, but:
