CodyyyGardner Authors Coopahtroopa 🔥_🔥
The vast majority of its success was fueled by #DeFi.
Here's what happened in 5 Tweets 🔽
1) Governance Tokens 🪙
Projects gave complete ownership of billion dollar protocols to their users, often using retroactive airdrops.
Early adopters earned tokens for past usage, and token-based voting now dictates all technical
It pays to be a web3 power user.
— Coopahtroopa \U0001f525_\U0001f525 (@Cooopahtroopa) December 9, 2020
Five networks that issued retroactive airdrops to value added actors \U0001f4dd
2) Liquidity Mining ⛏️
Power users were the first to earn on-going distribution by providing liquidity.
$COMP sparked the wave, with $BAL coining the term a few weeks
BAL is live!
— Balancer Labs (@BalancerLabs) June 23, 2020
The 435k BAL for liquidity providers of the first three weeks of liquidity mining (145k per week) have just been sent out to the wallets used to provide liquidity on Balancer.https://t.co/pkXFzwzPVC
3) Yield Faming 🌾
Projects coupled liquidity mining and governance tokens to boost 'yields' by combining lending rates with an incentive layer.
APYs peaked as high as 1M% during 'DeFi summer', leading to a 'food coin' craze like $YAM and
Check out @Cooopahtroopa's latest post for all the #DeFi farmers out there \U0001f468\u200d\U0001f33e
— Zerion \U0001f3e6 (@zerion_io) June 26, 2020
Turns out @synthetix_io & @CurveFinance were ploughing the fields long before $COMP & $BAL came along.
Learn how to put your #crypto to work with this #yieldfarming 101 \U0001f4b8
\U0001f449 https://t.co/zYUKtqx3BK
4) Fair Launches ✅
Who needs investment when you can launch using yield farming?
@iearnfinance debuted $YFI with no formal funding, seeding a community treasury for self-sustainability.
The notion of a core team and community became one and the
2/ What is a Fair Launch?
— fair launch capital (@fairlaunchcap) August 26, 2020
A FL enables founders to bootstrap new crypto networks that are earned, owned, and governed by their community from the outset.
In this dynamic, everyone participates on equal footing\u2014there is no early access, pre-mine, or allocation of tokens.