Progress Update: Elastic Vault, Mystery Airdrop for kMPL Stakers and More

The DAO is making great progress on its H1 2021 priorities. Here’s an overview of where we are on various projects outlined in the H1 2021 Vision roadmap.

Elastic Vault

Vaults (such as those developed by Yearn Finance, Harvest Finance) are applications that allow users to earn yield on their crypto assets in a variety of ways.

Elastic vaults, an innovation developed by the AmpleSense DAO, will allow Ample holders to earn yield and — unlike existing vaults — are designed to leverage the rebase.

Over the last few weeks, we have made a lot of progress on the design of our elastic vault:

  • Ample holders will be able to deposit their tokens into the elastic vault (tokens will be locked for a set period of time) in exchange for receiving rewards (crypto yield). The Ampleforth rebase will help to generate and influence vault reward (yield).
    • Vault deposits will be single-sided (no need to provide liquidity or worry about impermanent loss)
    • Rewards will be delivered when Ample is at equilibrium and negative rebase
    • Rewards will increase in value when Ample is in positive rebase
    • Elastic vault stakers will lose full exposure to positive and negative Ampleforth rebases, but receive other benefits (described above)

Pioneer Fund Vaults

Pioneer Fund vaults will deliver token rewards to members of the DAO community who hold the kMPL governance token, provide liquidity and more. These vaults are described here and are under active development.

Mystery Airdrop

We are also planning to conduct a special “mystery” airdrop that will be connected to our first elastic vault. IMPT: The airdrop will only be delivered to kMPL holders who stake their tokens in our kMPL Pioneer Fund vault. Those holding kMPL outside the vault will not receive the mystery airdrop. More details about the airdrop (and its timing) will be announced at a later date.

Marketing and Promotion

We will be launching a community-powered social media contest to help raise awareness about our upcoming elastic vault. We’ll have more details on the contest soon.

Pioneer NFT Airdrop

We have conducted Phase Ia of the NFT Pioneer airdrop and are waiting for the community to achieve two additional milestones to conduct Phase Ib and II: 1+ million in kMPL/ETH Uniswap liquidity and 200 stakers in the Apollo kGeyser contract. (Details on these milestones are here.)

Stay tuned for more information about our upcoming elastic vault, Pioneer Fund, mystery airdrop and marketing activities.

Recommended3 recommendationsPublished in Ecosystem, Official AmpleSense Announcements

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