Postcards from the Death of the American Dream..
(warning, these are not comfortable viewing)
Since 1965 (everyones working memory) wages have not risen in real terms. Its an endless hamster wheel of despair...
๐จ๐ฉ๐น๐ฌ๐จ๐ฒ๐ฐ๐ต๐ฎ : Colorado is officially leaving the Pac-12 and returning to the Big 12 in 2024 per @Brett_McMurphy
CU will receive a full $31.7 Million media share
At 224% Boosted APY, the @CamelotDEX GRAIL-ARB Poolไธ now boasts the highest yield out of all of our pools ๐
Thanks to a flurry of trades that have been rushing in (as well as incentives), fees and yield have racked up.
With Poolไธ, you can put your LP assets to work harder, helping you earn more with the same liquidity you already have (max APY for the underlying pool is ~70%APY)
Get more with your assets, withdraw anytime at Pendle: https://t.co/ws5X505TYK
Now @pendle_fi liquidity providers from @fraxfinance can slide their #sfrxETH into Penpie to earn more than 16% APY.๐ฐ
#Stake sfrxETH on #Penpie and automatically boost your rewards!๐ฅ
Earn:๐
https://t.co/OLy0HSjSUf
https://t.co/xg4eRhTksa
I'm in favor of this proposal for several reasons:
1โฃ Camelot is a non-forked native DEX to Arbitrum which has been building for 8+ months now.
Their TVL, volume, and fees are something Arbitrum has benefited massively from and should actively look to continue.
A native DEX like Camelot continues to make Arbitrum a perfect landscape for new protocols to launch and/or provide liquidity. Camelot is essentially a 'KOL' at this point and a massive USP when protocols are thinking about what chain to move/launch to.
2โฃ Proper governance stifles any 'monopoly' arguments, as users are looking out for their best interests and can easily switch protocols on mass.
Native/non-native competitors will always look to compete against Camelot.
Many have tried and failed using mercenary methods. Proper incentives, as $GRAIL has demonstrated, can turn potentially mercenary capital into sticky capital.
3โฃ The requested $ARB amount is as ac212 stated: ''12M ARB tokens represents 2.8% of the treasuryโs yearly spend for ecosystem building.''
Given the track record, depths of partnerships within the roundtable, and six-figure unique users, 2.8% seems like a no-brainer.
Camelot will lock their existing $2m + $ARB over the duration of the grant into the multisig.
Downsides
- A grant program is already in progress, could this start a series of proposals from other protocols who feel they deserve a similar grant?
Since its inception, Camelot has been willing to
push boundaries in the Arbitrum ecosystem. Why
are we mad now, but happy before?
- Do other protocols feel pressured into agreeing with the grant so they receive their share?
- Must include more core pools, including ARB/USDC
I'll end with another quote from a commenter (grandma) which sums it up perfectly.
''For those of you who resist solely bc of some negativity towards โCamelotโ โฆ I would say, then find another DEX with their track record, partnerships, and activity flow โ or build it โ and then apply for a similar grant. I would support that one, as well.''
Penpie team just had one of the best launches in this market condition and the flywheel is getting started.
@Penpiexyz_io acts as a key player in Pendle ecosystem, providing boosted yields via veTokenomics boosting services.
Key achievements:
โข ๐ฅ IDO sold out in 10 seconds on Camelot.
It's showed high interest in the Penpie and Pendle ecosystems and the $PNP mkt cap at the inception was low.
โข ๐ TVL: Penpie has reached $30M in TVL in the first two weeks.
โข ๐ Penpie + LSD chads are making waves.
They partnered with Frax, Ankr, Camelot, StaFi, Swell, and others for the launch of the Bribery Market. Penpie users can expect and enjoy boosted yield on these assets.
โข ๐ Penpie is becoming one of the biggest vePENDLE holders.
Now they've locked 4,641,576 vePENDLE which is about 20% of total locked and will increase the amount to 6.6M soon (25% of total lock)
I'm helping the Penpie team increase the awareness of its growth. And what I can see now is that they are more than ready to help attract more liquidity to Pendle.
I will keep everyone posted on what actions you can do on Penpie.
One of the most significant parts of this story IMO is that none of it would be happening without Deion signing off. I'm told he wants to get CU back into Texas.
2. Bluejay Finance (@BluejayFinance)
Bluejay Earn is a decentralized fixed income protocol that helps investors get access to diversified, and consistent returns of 7%+ APY by lending out stablecoins to borrowers.
(9/18)