🚀 Boosted Finance: Uniswap Launch, Boosters Go Live, Governance
We are deeply humbled by your support. It’s only been two days but it feels like an eternity already. If you’re new here and wondering, what the heck is this Boosted Finance project bringing rocket-fuelled yield to over $12,500,000 total value locked up — check out our introductory post here:
We are making it our absolute priority to be transparent and ensure that everyone is equally informed of the developments as they roll out. That being said, today marks a significant day for Boosted Finance with three major rollouts that are bound to add even more fuel to your rocket jets:
- Uniswap Pool & Wave 2 Distribution (375% MORE REWARDS)
- Booster Mechanism Goes Live
- Community Governance
Stay #boosted. See you on our official community Discord:
🪐 BOOST-ETH Uniswap Pool Officially Launches!
Here’s the free alpha: participate and stake in the BOOST-ETH Uniswap pool earns you 3.75x or 375% MORE BOOST rewards. Unlike most rocket launches, this one isn’t re-entering Earth. The bonus rewards are here for 14 days, no more no less — it’s not rocket science, it’s alpha. Stake your BOOST, earn BOOST.
Thanks to a very eager AlphaNaut who deployed the BOOST-ETH Uniswap Pool ahead of time, we are thrilled to announce that the pool is official and verified using the contract address for #BOOST. This means that APY calculations are coming (finally)!
Please note that naturally, the initial pool liquidity is low, so please exercise caution while interacting with the pool.
Did you hear me? The Uniswap BOOST-ETH pool is live! This means you can inject liquidity into the Uniswap pool by contributing an equal USD amount of BOOST and ETH to claim the Uniswap V2 LP tokens that you can use to stake on boosted.finance to earn 3.75x more BOOST, incentivizing early farmers and adopters of the protocol! This is a coordinated effort to bootstrap the adoption of Boosted and fully community governable treasury.
Wave 2 Distribution Information
Pool: BOOST-ETH (Uniswap link)
Distribution Amount: 30,000 BOOST
BOOST Mined Per Pool: ~1.49/minute, ~89.3/hour, ~2143/day
Distribution Period: 14 days
Launch: Thursday Sep 3 2020, 1:00PM UTC
🛰 Booster Mechanism Goes Live!
Genesis pool booster purchase function will be also available on Sep 3 2020, 1:00PM UTC. The BOOST-ETH Uniswap Pool booster purchase will be open one hour after on Sep 3 2020, 2:00PM UTC.
Boosted Finance introduces a never-seen-before ‘booster’, a mechanism that accelerates and amplifies the potential yield of the purchaser’s crops. It’s not rocket science, it’s alpha — honest farmers can purchase a booster with BOOST which increases yield by 5% up to a maximum of 5 times.
Here’s a quick rundown on Boosters:
- They amplify your total value staked by 5%, increasing your APY and yield.
- They are independent for each farming pool, cost increases by 5% for each purchase
- They are not transferable to other pools and perpetual.
- There is also a cool-down of 60 minutes for subsequent purchases to prevent gas wars and maintain equal opportunity.
- 50% of BOOST spent on booster purchases will be burnt with the other 50% swapped into yCRV and put into the governable treasury.
- They support further support stability and sustainability
Long story short, boosters increase your total value locked up to 25% — significantly ‘boosting’ your yield relative to our players while contributing to the stability and sustainability of the Boosted Finance DAO.
Strategize early, leverage boosters to maximize yield. It’s not rocket science.
👩⚖️ Community Governance
Governance, the most overlooked yet arguably the most important part of Boosted Finance. Here’s a quick rundown of our governance specs followed by a detailed explanation and upcoming developments:
- BOOST Threshold to Submit Governance Proposal: 13.37 BOOST
- Quorum for Governance Proposals: 30%
- Proposal Voting Period: 48 hours
Using a modified YFI governance model, the community will be able to submit governance proposals 48 hours after launch by locking up 13.37 BOOST in a staking contract for three days. Each proposal will have a duration of 2 days during which the proposer can submit the withdrawal amount and address if they wish to claim yCRV for the proposal.
Once confirmed as voting for or against in a governance proposal, stakers will not be able to switch votes.
Proposals can only be resolved after the two-day duration, and once resolved as either a ‘pass’ or ‘fail’, it cannot be resolved again to prevent multiple withdrawals for successful proposals. To discourage bad proposals, if the proposers ask for more than 1000 yCRV and a 5% minimum quorum is not met, the entire stake will be slashed, converted to yCRV and transferred to the governance contract.
Quorums are determined by the total supply at the time of proposal resolution and must hit a minimum of 30% quorum, more votes for than against, to pass.
💫 Closing remarks
We will be publishing an in-depth blog article focused on governance and how we will be ensuring the long-term viability and sustainability of Boosted Finance. Following on, we will release a step-by-step tutorial on how to participate in the Boosted Finance governance procedures.
Sit tight, enjoy the ride for now.