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What is PowerPool (CVP)?
PowerPool —— Accumulating Governance Power in Ethereum-based Protocols
Website Explorer Technical Documentation
- PowerPool aims to allow token holders to lend, pool, and borrow Governance Tokens (GTs), which are tokens granting holders governance voting rights for their respective protocols. PowerPool's mission is to accumulate governance power in Ethereum-based protocols.
- The PowerPool protocol consists of the following components working in conjunction:
- Power Index: a community-governed Decentralized Finance (DeFi) index using pooled tokens for meta-governance and fund-management strategies. The Power Index Pool Token (PIPT) is a token representing a share of the index.
- Power Oracle: a decentralized cross-chain price oracle, using Uniswap V2 as a primary data source of Time-Weighted Average Prices (TWAPs). The Power Oracle allows token holders to stake CVP, request and record data from the oracle, and earn CVP rewards in return.
- CVP is the native governance token of PowerPool and is used for the following:
- Voting in platform governance (changes in supported liquidity pools, collateral types, liquidity mining rewards allocation, etc.).
- Voting for how pooled GTs will vote for every governance decision amongst the supported protocols.
PowerPool Key Metrics
Recent Price | $3.35 |
|---|---|
Market Cap | $76,134,053.76 |
Circulating Supply | 22.698.598 CVP |
Total Supply | 100,000,000 CVP |
Max Supply | 100,000,000 CVP |
About PowerPool
The PowerPool is a lending protocol for the governance tokens, such as COMP, BAL, LEND, YFI, BZRX, AKRO, and many others. It is important to note that currently, PowerPool is targeted on the Defi market as the hottest one, but generally is not limited to it and can serve for pooling any other governance tokens in the Ethereum ecosystem.
The PowerPool is based on a simple lending model, close to Compound’s one from the first sight. Every holder of GTs can supply liquidity into a contract and get the interest rate if there is a demand. Any person on the market can borrow GTs placing allowed digital assets as collateral. On the other hand, it has certain upgrades, and the particular set of oracles developed to form price feeds of highly-volatile assets such as GTs.
The main protocol functions:
- coordinated voting: CVP holders decide how pooled governance tokens will vote;
- pool GTs to accumulate governance power in one place;
- lend GTs to earn additional GTs by lending GTs;
- lock GTs as a collateral to get a loan;
- borrow GTs to gain extra leverage in votings.
CVP is the native governance token of PowerPool and is used for the following:
- Voting in platform governance (changes in supported liquidity pools, collateral types, liquidity mining rewards allocation, etc.).
- Voting for how pooled GTs will vote for every governance decision amongst the supported protocols.
The PowerPool protocol consists of the following components working in conjunction:
- Power Index: a community-governed Decentralized Finance (DeFi) index using pooled tokens for meta-governance and fund-management strategies. The Power Index Pool Token (PIPT) is a token representing a share of the index.
- Power Oracle: a decentralized cross-chain price oracle, using Uniswap V2 as a primary data source of Time-Weighted Average Prices (TWAPs). The Power Oracle allows token holders to stake CVP, request and record data from the oracle, and earn CVP rewards in return.
PowerPool Features & Advantages
The PowerPool offers the following advantages to the end-users and Defi protocols:
- Influence farming. Users can earn additional GTs from their holdings. As a result, the stake of the user continually grows as the interest rate is paid in the same governance token.
- Solution for the Voters Apathy. With the yield and LM as incentives, passive token holders will be motivated to pool their GTs in the PowerPool. With demand, these tokens will participate in voting, increasing the overall vote capitalization. With the lack of demand, tokens can participate in the vote even if nobody borrowed them according to PowerPool token holders’ decision.
- Accumulation of voting power. The voting power, distributed across the thousands of minority token holders is useless. Now it can be concentrated in one place via the PowerPool and become a real force in the governance of protocols.
PowerPool Community and Social Channel
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Discord
Medium
GitHub
- What is PowerPool (CVP)?
- PowerPool Key Metrics
- About PowerPool
- PowerPool Features & Advantages
- PowerPool Community and Social Channel