Sept. 28, 2022: Concentrate or You Might Miss It 🧞🔮
Plus: Predicting the Future
Big news out of Concentrator. Their IFO is ending early to clear the field for the big $clevUSD launch.
We’re about halfway through the IFO, so if any $CTR tokens remain to be distributed by the October 31 deadline, they will be airdropped to veCTR holders. If you’re earned any $CTR, you may want to lock it soon. The snapshot will be taken after the IFO is complete, (no need to do so on an ongoing basis). To see locking details and create your own lock, look for the "Lock" button in the navbar at the top of the site.
The launch of CLever’s $CLEV token is itself proceeding in epic fashion. The value of $CLEV tokens is to lock them and earn 75%+ of platform fee revenue. The $CLEV token will be released through a one week “capped elastic token offering,” through which 5% of the total supply will be sold off at a fixed price of 1 $CVX for 1 $CLEV.
In addition to all this, the team is partnering with FRAX to launch leveraged Concentrator stablecoin farms.
This works by depositing into a variety of FraxBP dollar pools onto Concentrator. These can be deposited to CLever to earn a synthetic future-yield token in the form of $clevUSD. This token can be then traded for Frax through a Curve clevUSD:FraxBP pool or through the Furnace, allowing the process to repeat.
Keep an eye out for this clevUSD:FraxBP pool on Curve, which will kick off the festivities. More from the team’s Medium announcement.
We don’t write all this just as a thank you for selecting me top 3 in the recent Concentrator community grants program. We’ve bemoaned the lack of DeFi innovation broadly, but Aladdin DAO stands out as a shining exception.
The team do a phenomenal job of identifying real opportunities in the space and launching complex products into a product market fit. We look forward to seeing what they cook up next!