Hey everyone! Welcome to our newsletter, where we share updates regarding veToken and our ecosystem each month.If you haven’t already, be sure to follow us on Twitter and join the community Discord to stay up to date.
Feb 2022 has been a month of major accomplishments; we released our new token economics, delegated ve(3,3), and changed our ticker name to VE3D — staying true to our core of being a long-term solution for ve-projects, while utilizing protocol-owned LPs. This new model enables us to become a generic yield aggregator protocol for all projects that adopt the ve-model. Additionally, we have finished the seed round; investors will be announced soon in a separate press release. This investment will further veToken Finance’s vision by expanding the team to further develop technologies and strategies to support projects who adopt the voting escrow (veCRV) model by locking their governance token permanently while providing boosted rewards to regular users. Finally, security is of the utmost importance to us, and accordingly, we will run another audit during the middle of March, with plans to launch the first product by the end of Q1.
This month we made strong progress on project partnerships, and have engaged with more projects who have adopted ve-model tokenomics, including 88mph, yAxis, Ribbon Finance, Platypus Finance etc, with positive feedback — and we will start the whitelist process as soon as the second audit finished.
In the meantime, the team has been working with investors to secure the seed round investment, which has been moved to the second round. There are few top tier investors, as well as DeFi degens that have joined our corner, which has really helped speed up development time, build connections, and help us to bring more value to more projects that adopt the ve-model. We will have more to share sometime in the coming month.
Our technical and design team has been adding a few pages to the front-end and finalizing the pool integration on Pickle related pools, as well as airdrop and bond pages. Here’s a sneak peak for the pages mentioned above:
As we are adding bond contracts to the system, we need to modify the minting contract flow and figure out what will be the best strategy around designing token emissions rate, which will be posted in the detailed design in our token design blog veToken Finance Delegated ve(3,3) Part 2. The goal is to make sure we are sustainable and are aptly prepared for all future ve-model projects.
While the goal of veToken Finance is to design a generic system that could support ve-model projects, it is also necessary to bring attention to the DeFi community that the ve-model offers the most suitable tokenenomics available for DeFi projects to balance the supply and demand of the DeFi protocol governance token — regardless if the protocol is an AMM, yield, or lending protocol. So we designed and launched vemarketcap.com in recent weeks. Special thanks to our development team.
- Finalize the fee distribution model and token emission rate design
- Finish smart contract development and send to audit in mid-March
- Front-end: smart contract integration
- Continue to engage with projects that have implemented the ve-model
veToken Finance was created in 2021 with the intent of maximizing rewards without sacrificing token accessibility. veToken looks to continue to adopt new voting escrow projects as they come to market, with an expected initial launch date later this year. veToken enables and encourages governance, reward maximization, and liquidity — all in one place, encompassing a multitude of projects.
You can learn more about veToken Finance at our website below, and join the conversation with our Twitter and Discord communities below as well.
Stay tuned for more to come from the veToken Finance team.