This is what opening a log can do for any token!
400% APR, no lock up, no inflation, all rewards from buybacks.
Volatility and volumes earn.
Wrap -> Farm -> Harvest -> https://t.co/sIFd3WqHmD
CHOP is live. Now the ecosystem expands.
We’re working with ecosystem teams to bring the first partner Logs to Robinhood Chain.
Each new Log adds:
• a backed chToken
• a new venue for wrapping, trading and farming
• another source of fee generating activity for the protocol
More quality assets. More active markets. More volatility put to work.
Partner Logs are loading. 🪓🪵
Wrap -> Farm -> Harvest. Start chopping logs.🪓🪵
It's a three step process to maximum yield!
Next week, single sided deposits.
Start wrapping and farming $CHOP now: https://t.co/sIFd3Wq9x5
Chop is built on existing open-source @PeapodsFinance infrastructure with adjustments for the Robinhood ecosystem, agentic execution and onchain treasury management.
All contracts are deployed, we're running final tests and the first logs will appear today and many more the coming days!
Creating logs is possible on Robinhood, Chop will verify logs after creation by teams, then they will be able to get seeded.
$CHOP flywheel mechanics:
1. Fees are charged on wrap, unwrap and trades, arbitragers pay the fees.
2. 15% of the fees burn underlying log tokens to increase collateral.
3. 85% of the fees buy back $CHOP.
4. 20% of $CHOP buybacks are burned, 80% of $CHOP buybacks are distributed to farmers as yield.
5. The cycle continues and TVL increases due to high yield, farmers LPing more and compounding $CHOP.
All protocol fees and value creation is put back into $CHOP and yield for the logs.
What is volatility farming?
• Wrap an asset into a chop-wrapped version, deposit it into a log that trades on its own.
• Every price swing opens a gap between two pools, and arbitrageurs pay fees to close it.
• Those fees are the buybacks and yield. No emissions. More chop, more yield.
• Chop-wrapped tokens increase in value due to burn mechanics within the log, farmers can claim rewards via harvest.
We're seeing great initial traction on wrapping of $CHOP, with over 0,75% of our total supply wrapped into chCHOP within 24 hours. chCHOP increases in value due to 15% of fees being used to burn it, increasing underlying backing.
Tomorrow we'll be increasing this by wrapping 4% of the total supply from our treasury, taking it out of circulation $CHOP.
It's easy: https://t.co/ybIjKRrMSB -> press wrap.
For optimal earning and getting 80% of the $CHOP fee distribution, deposit your chCHOP alongside WETH on the same page.
Expansions loading, chop chop.🪓🪵
While we work on onboarding our ecosystem partners into logs, the chop team is ready to ship a new feature next week to make onboarding even easier, single-sided deposits!
Bring one asset, deposit, get the LP for both.
The Chop Team is officially kicking off with an X Spaces on October 8th at 11am EST!
We'll be explaining our grand vision, treasury management tools and how all the fees power $CHOP buybacks and farmer rewards.
Be sure to join, we're dropping brand new plans!
https://t.co/8y6wyC4Mtc
The $CHOP kick-off X Spaces is today at 11am EST.
We’re going to be chopping up some brand new plans and releases!
At the end we will host a Q&A so all of you can learn about our protocol and how volatility farming works.
Many more spaces to come, keep chopping logs! 🪓🪵
Chop earns fees on every log, every chart movement and every trade. It's built for volatile markets like Robinhood Chain.
All fees drive demand for $CHOP and pay farmers, creating a flywheel that benefits TVL, burns $CHOP and continuously increases product APY.
https://t.co/pB86OFyQVs