Read full update 👇https://t.co/A1fdQ4KJ9r
— Akropolis (@akropolisio) August 3, 2020
Underwriting the new robo yield farmer is a new governance token ADEL – specifically used to govern the Delphi product.
Following in the footsteps of the community-favorite YFI, ADEL will only be distributed through the usage of Delphi, with no initial sale and just a 5% premine allocated to development vested for 3 months following a 3-month cliff.
This product level governance is an emerging trend in the DeFi ecosystem, tying together the best aspects of liquidity mining with a synthesized focus on very specific feature upgrades and integrations.
Fulfilling their original vision
Delphi brings the Akropolis team several steps closer to their original vision: Creating a widely-accessible decentralized savings fund that can withstand fiat-based economic shocks.
Labeled as a yield-farming aggregator, Delphi makes DeFi earning opportunities accessible to everyone, specifically non-technical users.
With Delphi, users can reallocate funds between several stablecoin pools within a single transaction, all within a user-friendly user interface.
One of the flagship features is a dollar-cost averaging (DCA) feature, which automatically invests in selected pools on a periodic basis. This is a very popular strategy offered by platforms such as Coinbase, which removes both the manual effort and the challenge of volatility on investment timing.
The Delphi user experience
The Delphi dashboard presents user balances, pool allocations, and returns in an easy-to-understand way. It also allows the user to save on time and gas costs while switching between pools, by facilitating such changes in a single transaction.
Due to gas costs, automatic DCA investment is currently only facilitated on a weekly basis into selected pools, but may be more flexible in the future.
The ADEL token
Delphi ownership will be allocated via the fair distribution of a new governance token, ADEL. The ADEL token is specific to the Delphi platform and completely separate from Akropolis’ existing AKRO token.
ADEL will hold governance rights, as well as a potential claim on any fees that may be incorporated on Delphi in the future.
As illustrated in the intro, ADEL can only be earned by providing liquidity to Delphi, AKRO, and future tokens in tandem with active governance.
60,000,000 ADEL tokens will be minted as a fixed supply and be released gradually over a 6-month period.
A whopping 95% of the tokens will be distributed to active users and liquidity providers, while the remaining 5% will be reserved for development, maintenance, and auditing.
Akropolis will release an FAQ on Delphi and ADEL in the coming days, along with details on a bug bounty program and liquidity mining.
The time-frame for the completion of several major platform components is extremely short. The user interface, Balancer, and Uniswap pools reward contracts, and controlled mainnet are all due to be completed by 20th August.
All and all, it’s clear that the race for automated yield farming is really heating up. Whether it by yEarn’s new yVaults, Rari Capital’s new platform or a suite of other projects in the pipeline, the time to harvest alpha is quickly dwindling.
While Delphi is currently only live on testnet, we’ll be keeping a close eye on the product over the coming weeks.
To stay up with Akropolis for all things Delpha, follow the project on Twitter.