June 28, 2024: Llama Party feat. Figue of Paladin 🦙🥳
Join Livestream Chat at 7 AM PT / 10 AM ET / 2 PM UTC
Grab your favorite beverage and prepare to join this week’s Llama Party, live at 10 AM ET / 7 AM PT, featuring Figue from Paladin — streaming live to YouTube and 𝕏!
Paladin v2
The altcoin bear market was (is) grueling. Good news, at least, for the protocols that were able to find real product-market fit during the tough times. Should the market some day rip again… could be a good time.
Paladin Quest v1 saw good adoption. $200K volume per week, for a total of $5MM volume. Seeing good results, the governance gigabrains went back to the drawing board over the past year. The result is Paladin Quest v2:
PAL v2 has ambitious plans to establish a “vote flywheel”
With Quest v2 now fully operational, our team has redirected its focus towards enhancing synergies between the PAL token and its flagship product. By seamlessly integrating Quest with our tokenomics strategy, we are confident in our capacity to establish ourselves as market leaders in voting incentives, thus significantly amplifying interest in the PAL token. This is PAL 2.0, the vote flywheel.
What is the vote flywheel? Paladin approached this initiative with three goals.
The result was Quest v2. A system in which Quest voters get higher yields without increasing costs for Quest creators.
It’s accomplished via locking PAL into hPAL. Paladin earmarked 7.8MM PAL (15.6% of the total supply) over 3 years, which can enhance a native APR up to 5x for hPAL lockers.
From the launch article:
Rewards are paid out in the form of LOOT, a combo of PAL & WETH and sourced from PAL revenues. Vesting mechanism on rewards occurs over 28 days:
The entire system has been built out and launched, being run through a Hats Finance code contest. The architecture is as follows:
Having been launched, early returns are showing efficiency
It’s being put to work!
We’ll talk about this and much more during our upcoming Llama Party. Watch live and join the discussion on 𝕏 or YouTube
While you wait, check out their recent 𝕏 space on their new mechanism.
As well as our prior Llama Party, almost exactly a year ago!
For readers, Paladin also wrote up an interesting article on the recent liquidation events: