Happy Monday Don-keys,
We’re kicking this week off with an exciting new announcement: x21’s team of yield farmers has been successfully integrated into the Don-key DAPP.
Many of you are likely well familiar with their name — they are an advisory and venture capital firm involved with many acclaimed early-stage crypto projects. Likewise, their team of top notch yield farmers are banding together and launching a stablecoin strategy. Unique to them, this strategy will not be run by just one farmer but by a kind of braintrust, charged with delivering competitive yield with stablecoins; specifically, 26.5% APY. The biggest appeal of their strategy is that, because it’s tied to stablecoins, yield will not be subject to the volatility of market conditions nor to impermanent loss.
Last week, the team also implemented some new features that have added to the overall robustness of the Don-key DAPP:
- Users will now be able to adjust slippage tolerance when depositing funds into a farmer’s strategy. They can limit exposure to 0.05%,1%, 1.50%.
2) Investors will also be able to view their profits in terms of USD value as well as in terms of the deposited token. This will correct for impermanent loss and thereby offer better insight into the farmer’s performance.
Lastly, when choosing a strategy, each option will now offer a fee structure breakdown. This will bring transparency to the costs associated with each yield farming strategy.
What the Future Holds
Aligned with our value in transparency, the team will continue to bring regular project updates for the immediate short term future.
Next week, Don-keys can expect us to:
- Launch two non- stablecoin farming strategies; which means they will have higher APY.
- Add a risk index to each farming strategy so that investors have even more information at hand when deciding where to allocate their funds.
Accelerated APY Rewards
In order to give the DON token more utility and simultaneously reward usage of our DAPP, Don-key will be implementing a new staking program — with a twist. As long as users hold a minimum of one-thousand tokens, they will enjoy an additional 50% APY on top of whatever farming strategy that they follow. Rewards will be given in DON and will be immediately claimable. Instead of skewing the program towards whales, the choice of creating a low barrier to entry (1000 DON tokens) was made with the retail investor in mind. We want as many people as possible to benefit from the Don-key platform and are thrilled to implement the rewards program in July.
Thanks for being a part of our community — stay tuned for more updates,
contributed by Jason Kelman