Cryptocurrency News

‘Crop’ projects defy boundaries as Yearn.Finance yields vault

With millions and even billions of dollars at stake, industrial-scale produce farming is leading to pockets of resistance as some projects refuse to leave with husks.

Over the past week, team members from no-loss lottery project PoolTogether and exchange liquidity pool provider Curve Finance have proposed ways to reduce the load. There are financial strategies on their protocol and governance tokens.

In a tweet on Sunday, PoolTogether co-founder Leighton Cusack said that Ayr has become the primary beneficiary of the protocol’s multiple DAI lotteries, as Eir controls 57% of all DAI funds ($27 out of $47 million in the pool at the time). million) of writing) and therefore have a disproportionate chance of winning.

“At this scale, this becomes problematic as they tend to monopolize winning opportunities and marginalize the core value prop of the protocol,” Cusack wrote on Twitter.

Similarly, in a governance motion today, “Charlie” a representative of the Curve core team cast a vote to remove the CRV benefits given to LUSD pools. alUSD is a stablecoin from Alchemix, a project that issues loans in Year Vault based on the future yield from deposits; The annual vault, in turn, uses stablecoins and other assets to cultivate Curve’s CRV tokens.

Both instances of projects growing under the weight of Eyren sparked speculation on social media that personal animosity may have looked like a protocol-level sharecropping revolt (Alchemics used Curve competitor Saddle for a new synthetic ETH pool). opted to do so); That Year may be overzealous with his form-and-dump strategies; And that there can be “regime wars” that can create friction in an open ecosystem.

However, comparing the dynamic with the “war” seems to be superfluous.

In an interview with Cointelegraph, Cusack said that the pool has fully agreed to onboard Yarn as the interest provider for the lottery, and that in return Yarn will cease to act as the flop whale in his pool. Will give

“We recently completed the integration with Year and this is being audited. This means our prize pool can use Earn for yield. This is preferable because it will yield a higher APR. This means It is also that the yarn will not be able to accumulate in the pool completely as it will create a risky recirculating loop,” he said.

He also noted that “Year holds 10% of all pool tokens he has earned” and that pool emissions were cut by 50% at the end of last month.

Cusack added the Year team, “I have found them very helpful and willing to make changes to reach a more optimal result. They ultimately understand that our success drives them more success.”