Oct. 20, 2022: One Wish or Two or Three 🧞🔮
Aladdin DAO’s CLever & Concentrator Move to Liquidity Mining Phase
What an October for Aladdin DAO.
CLEV
We may not offer financial advice in this newsletter, but we hope a few of you nonetheless found opportunities to benefit from our last article on the subject:
The day after we published, the CLever offering of $CLEV, its revenue sharing token, would sell out within just 21 blocks (five minutes in metric time). NFT gas wars have nothing on DeFi.
The entire supply got minted to 95 lucky duckies. The coin would quickly 3x in price before settling down at 2x the mint price. If you’re among the billions who missed out, not to worry. A $CLEV/$ETH pool on Curve has been created with ~$900K in liquidity, earning early users ~15% yield .
Liquidity season continues via Curve as the team also launched the $clevCVX/$CVX pool.
LP tokens can be staked directly on CLever under the “farming” tab to earn $CLEV rewards
The team is earmarking incentives to the $clevCVX / $CVX pool because it serves as a critical cog in the CLever infrastructure. They have two means of converting $clevCVX back to $CVX - the furnace and the new Curve pool.
The successful token launch moves CLever out of the beta period. This means $CLEV can be locked for veCLEV, which increases $CLEV yields by up to 2.5x. Several users are indeed locking, meaning we’re seeing a rare token distribution that successfully engineered its tokenomics to not be immediately dumped in the aftermath.
The team’s full writeup contains all the gory details. We’re excited to see what CLever dreams up next.
CTR
Are you feelin FOMO like you haven’t felt since DeFi summer? Well… maybe pay worth paying attention to the Concentrator IFO.
The linked thread by @Subli_Defi contains tons of important details — the important piece is that the IFO is concluding on Halloween to clear the field for the team’s many other launches, meaning very few options for farmers.
The remaining $CTR that didn’t get farmed during the IFO will be airdropped to lockers based on quantity and duration of lock. This is in addition to the revenue benefits, as lockers receive half the protocol’s revenue. It’s impossible to accurately measure this, so don’t consider it financial advice, but @iamllanero took a stab at it nonetheless this summer:
Those who don’t lock can deposit into the ETH/CTR pool, which is presently seeded with a small amount of liquidity but is also earmarked to receive CTR rewards.
As usual, the team has a helpful blog post explaining all the ins and outs.
The IFO has also been a big success for the Aladdin team. Earlier this month @0xmilkthief ran some stats:
As regular readers know, we don’t ever offer financial advice, but we can offer the general life advice that winners will use the bear market to build and ship. No better time to try out innovative new concepts with reduced stakes and a less crowded field.
The Aladdin DAO team exemplifies this. The goodwill they’re presently farming among the surviving degens will likely propel them to great heights should we ever see another bull run. Aladdin’s delivering everything we could possibly wish for… and if we stick around, we may even be so lucky as to be granted a few bonus wishes.
Disclaimers! Author has no stake in $CLEV, but is participating in the CTR mining. Author received a community grant from the Concentrator program, which he requested be sent directly to PAC DAO for the purpose of promoting public goods related to cryptocurrency.