March 30, 2021: xForce May Be With You Ⓜ️🅰️

Upcoming Force DAO Airdrop to reward Curve participants

Hodling Curve in 2021 be like…

Curve Market Cap @CurveCap

#CRV

After Ellipsis kissed the ring of Curve holders last week, this week the upcoming ForceDAO launch announced rewards would be coming to participants in multiple protocols, including Curve:

Force @force_dao

Ethereum recipients include participants in: @AaveAave @AlchemixFi @BadgerDAO @BalancerLabs @CurveFinance @MakerDAO @synthetix_io @SushiSwap @VesperFi @iearnfinance More on the selection process will be shared over the next days on docs.forcedao.com! 5/9

docs.forcedao.com👋 WelcomeYour Portal For Cross-Chain Yield

Very well, we’re listening...

The airdrop is planned to provide an xFORCE yield bearing token which can be claimed between April 3 and April 24. Details of the airdrop are yet to be announced, but you can sniff the repository to get some clues. Such a claim would presumably be subject to IRS Rev. Rul. 2019-24, giving upstanding American degens about a month to watch the launch and calculate if the airdrop is desirable.

Is it desirable? You should DYOR, and we’ll share what we’ve found to help this research. Force DAO intends to become “a DAO for strategists, building the people’s gateway to quant finance.” Their beginning with their L1 Yield automation vaults, which operate a continuous buy-and-hold strategy.

They foresee the next stage to be Edge Vaults, crowdsourcing strategies from the community to earn the best yield. To this end they’ve set up a 6 month Force Prize at Gitcoin to find great strategies that’s been funded to the tune of nearly $2MM. Winning strategies will be passed through the DAO and productized.

The Curve vault is already deployed on their homepage and lists returns of 18% with nearly $7MM in value locked.

Other people are also sniffing around the protocol:

DΞFi Cook @deficook

Sunday = time to look into new things. Checking out @force_dao finally. Beta program with an eligible airdrop ends this Tuesday. I think I’ve read that all otherwise applicable fees are disabled during beta, so it might be a nice time to get in. Min 1k deposit for airdrop.

Founder Alberto Cevallos discussed more details on the Bitcoin Podcast

Alberto Cevallos @albertocevalls

Had a great conversation with @thebtcpodcast last week! Listen in to find out about what we're doing at @force_dao and what's in the works post-launch. Thanks for having me! 😀

The Bitcoin Podcast Network @thebtcpodcast

Pretty fun ep here - TBP got the first interview with @force_dao Lead Dev @albertocevalls on the upcoming #forcedao airdrop, how Force grabs multi-chain opportunity in #DeFi, and how community community community is everything. This is alpha friends. https://t.co/Vc2VPnIhPL

Top aggregators are also starting to take notice and track the protocol.

Yield Yoda @YieldYoda

Strong in the force is @DefiLlama. Listed @force_dao is. Vaults create it, makes it grow. Its energy surrounds us and binds us. defillama.com/protocol/force…

One risk factor to keep an eye on is that the vault contract is currently upgradable, exposing funds to risk of a wrench attack.

sadcat @0xsadcat

Fyi @force_dao is currently fully custodial 1. main address is an upgradeable proxy with a 12h timelock. May be a good idea to reset your approval after depositing. etherscan.io/address/0xc2c5… (dai) the current implementation is etherscan.io/address/0xa9f7…

The team cited this as an improvement and pointed people to their Discord.

Anna Vladi @annavladi

@bantg @0xsadcat @force_dao I call that strategic improvement :)

Whether or not the airdrop makes anybody rich, everybody can enjoy the trend of up and coming protocols building on Curve’s infrastructure.

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For more info, check our live market data at https://curvemarketcap.com/ or our subscribe to our daily newsletter at https://curve.substack.com/. Nothing in our newsletter can be construed as financial advice. Author is a Curve maximalist, to date claims no Ellipsis or Force.