DAOventures Project Updates: May Recap & Plan for June
Hello $DVG warriors!
We want to bring you up to speed on what is happening in DAOventures’ development on the platform strategies and marketing plans.
DAOventures has secured quite some good updates regarding products, audits, and Chinese exposure. The most notable events include the launch of DAO Citadel and DAO Stonks, successful third-party audits on our Smart Contracts and Vaults, PancakeSwap trading competition, and our hugely popular community airdrop campaigns.
Surprise for June — please read till the end. 🌟
💻 Product Update
[Strategy]
Risk Level: Basic
· Compound Fighter
Compound-Farmer is a lending platform that builds on top of Compound. It helps users to lend their idle tokens to Compound. When it comes to withdrawal, Compound-Farmer withdraws tokens from Compound with profit, claims distributed COMP token, and swaps them to token same as users lending token, adding the amount of user’s profit gained.
Risk Level: Advance
· Harvest Fighter
Harvest-Fighter is a yield aggregator platform that builds on top of Harvest Finance products. It helps users to deposit their tokens into Harvest Finance strategies and stake the fAsset(LP Token) that are distributed by Harvest Finance to earn FARM tokens. Meanwhile, Harvest-Fighter gets higher APY by reinvesting earned profit as well as FARM tokens to get more profit and FARM in Harvest Finance strategies (auto-compounding). Since we build on top of Harvest Finance, Harvest-Fighter APY will depend on Harvest Finance strategies. But since Harvest-Fighter helps to compound profit from Harvest Finance, you can expect our APY to be on top of their APY. Their APY is around 10%-30%.
· The DAO Stonks Vault
Stonks is a deliberate misspelling of the word stocks, to talk about investing in financial markets (though in an ironic way). The DAO Stonks Vault strategy gives users exposure to the FAANG basket of stocks. Except on steroids, and only half the volatility. This strategy uses Mirror Protocol, which allows users to trade synthetic stocks, or mirrored assets, represented by cryptocurrencies. We have constructed a market weight portfolio of the above 5 pairs, based on the size of each tech company as a proportion of the total market cap of the 5, FAANG. On many of these pairs, liquidity providers can receive 90–110% APR in the form of MIR, the governance token of Mirror Protocol! Because each LP above is paired with the UST stablecoin, volatility is greatly reduced.
· Elon’s Ape
Elon Musk is the world’s richest man and crypto’s ultimate influencer. The product architect of Tesla, “former CEO” of Dogecoin, and the champion of Bitcoin’s inevitability is famous for his market-moving tweets. The Elon’s Ape strategy is a long-only basket of the 3 tickers most closely associated with Musk. User deposits will be allocated evenly into ERC20 versions of Tesla, Bitcoin, and Dogecoin. This portfolio is themed around the popularity of one eccentric billionaire.
[Token]
· vipDVG
vipDVG is an ERC20 token that you receive in exchange for staking DVG tokens. The vipDVG token is always worth more than a regular DVG token and will appreciate as DAOventures generates more revenue on the platform. The concept of vipDVG is similar to xSUSHI tokens, which you receive in exchange for staking SUSHI tokens in the Sushibar. DVGUniBot will buy back DVG from UniswapV2, using funds in Treasury wallet or Community wallet, and then send DVG tokens to vipDVG smart contract.
More products on Binance Smart Chain and Polygon are being brewed.
💻 Third-party Audits
Our Smart Contracts are audited by independent third parties. DAOventures has recently successfully passed the Audits by Beosin and Zokyo.
The reports indicate high-quality work! More contracts and vaults are under auditing. We consider security as the top priority.
Please check the audit reports on our Gitbook: https://daoventures.gitbook.io/daoventures/daoventures-governance
📺Press & Media
Our Twitter fanbase exploded for the last 20 days due to our hugely successful community airdrop campaign.
International Channels
We are glad to announce that our multilanguage channels are open!
Feel free to join & show some love to Chinese & Korean community❤️
🇨🇳 DAOventures Chinese: https://t.me/DaoventuresCN
🇰🇷 DAOventures Korean: https://t.me/DAOventuresKR
CoinTelegraph China
Our China co-founder Belinda Zhou was invited by Cointelegraph China to talk about DeFi and the key role DAOventures will play in driving the mass adoption of #DeFi with stellar projects with the likes of Solana and Polygon.
Upcoming Events👀
Our DeFi Strategy Team, Dennis Hui and Guru, will make a strong debut in June with the support of KOLs including Crypto Lark, Crypto Daku, and Gains Associate.
June 9, UTC 2pm: AMA at Shin Chan ICO/IEO Community 🔱 | 小新交流群 🔱
June 10 UTC 2pm: AMA at Crypto Daku Robinhooders
June 11 UTC 2pm: AMA at Gains Associate
This is all for the May recap & plan for June. Our dev team is working around the clock for the product launch, and our marketing team is excited to share more meaningful activities for our community!
For more activities and news, please follow our social media. Thank you!
About DAOventures
DAOventures is a DeFi robo-advisor and automated money management platform. Imagine “Robinhood for DeFi”. It is our mission to make DeFi simpler, accessible & inclusive. We believe in creating a simpler, more accessible, and more open world that is permission-less, inclusive, and guided by our DNA of continuous learning, integrity, and transparency.
