Summary
Below is the proposal for the liquidity mining program we plan to launch in January 2022. Please review and submit your vote to approve or reject the program at the bottom!
POP Rewards Program
Starting in January 2022, Popcorn is launching a liquidity mining program for POP, Butter, and POP-USDC LP tokens where you will be able to earn POP rewards. The duration of this program is 6 months.
Total POP Rewards Offered
1,000,000 POP and depending on the approval of the POP excess from LBP vote, another 1,402,459 will be added for a total of 2,402,459 POP rewards.
When?
The liquidity mining program will start in January 2022 with the exact date and time announced in the coming weeks.
Where?
You will be able to use Sweet Caramel, the V1 release of the Popcorn App to farm POP. On Sweet Caramel you will find our first product Butter as well as functionality to stake your POP, Butter, and POP-USDC LP tokens to earn POP rewards.
On Sweet Caramel you will be able to do the following:
- Mint Butter to optimize your stablecoin yield
- Claim and stake Butter to earn POP rewards on Ethereum only
- Stake POP to earn POP rewards on Ethereum and Polygon
- Stake POP-USDC LP tokens to earn POP rewards on Ethereum and Polygon
Program Details:
Butter
Venue: Sweet Caramel on Ethereum
Rewards: 36% of $POP tokens
POP Staking
Venue: Sweet Caramel on Ethereum
Rewards: 20% of $POP tokens
POP Staking
Venue: Sweet Caramel on Polygon
Rewards: 20% of $POP tokens
POP-USDC on Ethereum:
Pair: USDC — POP
Rewards: 12% of $POP tokens
POP-USDC on Polygon:
Pair: USDC — POP
Rewards: 12% of $POP tokens
Vesting Rewards
10% of your POP rewards will be distributed immediately after claiming your rewards with the remaining 90% vesting over 12 months thereafter.
- Vesting: 1 year
- Weekly Emissions: decaying linearly
What is Butter?
Butter is a yield optimizer that automates yield farming associated with a basket of tokens determined by PopcornDAO. The current composition is largely backed by MIM, a stablecoin backed by interest-bearing tokens, and FRAX, a fractional reserve algorithmic stablecoin. It has been created to allow users to pool resources and save on gas for stablecoin yield-farming. Typically, to manually enter into a similar position, one would need to make 6 or more transactions, and with Butter, this number is greatly reduced and the process is simplified. Another benefit is that holders of Butter don’t need to chase yields since the underlying yield farming strategies can be adjusted by PopcornDAO according to changing market conditions in a risk-adjusted and yield-conscious manner.
Stats
- Composition: 50% yvCurve-MIM, 50% yvCurve-FRAX
- Has Exposure to: MIM, FRAX, and 3CRV (USDC/DAI/USDT)
- Weighting: Neutral construction, equal weight
- Rebalancing: Dependent on weight redistribution
- Deposits: USDC, USDT, DAI, or 3CRV
- Withdrawals: USDC, USDT, DAI, or 3CRV
- Recomposition: per PopcornDAO governance
- APY: Variable
- Streaming fee: 0%-4%
Farm POP and create positive global impact!
PopcornDAO collectively decides on which beneficiaries receive a percentage of earned protocol fees from Butter by participating in beneficiary nominations and grant elections.
These beneficiaries are nonprofits, charities, and grassroots projects working in the areas of environment, education, open-source, and inequality. Sweet Caramel allows you to not only farm Butter, POP, and POP-USDC LP tokens, but also fund nonprofits and social impact organizations at no additional cost to ultimately create positive global impact through DeFi.
Please submit your vote Yes if you approve or No if you disapprove.
- Yes
- No
0 voters