Cryptowriter - DAPP Spotlight: DAD Token
The second DAPP Network spotlight is DAPP Account DAO. They’ve built a bridge enabling projects, like Emanate, to expand their communities and token’s liquidity on Ethereum. This bridge uses DAPP Network and allows developers to produce multi-chain dApps. Emanate, the second project to utilize DAD’s bridge (behind DAPP), was mentioned last week as DAPP’s spotlight community project. They’re paving the way for others to follow, using DAPP Account DAO’s bridge! Initial DAD Airdrop Extended Last week, we highlighted that DAD lockers will receive EMT airdrops during October. But DAD’s community decided to create an ongoing set of airdrops for DAD lockers. The monthly dollar value is approximately $4K monthly. These airdrops are expected to remain perpetual. Not only will those staking and locking their DAD tokens receive airdrops, they also benefit from DAD’s deflationary, DeFi tokenomics. There’s roughly $15K dollars of monthly DAD buybacks. The DAD token is essentially a scarce, yield producing asset. DAD differs from other DeFi projects because it’s generating yields without inflation. The DeFi utility uses fee generation to produce yields. Those staking and locking DAD can perpetually increase their lock-period to 1-year. The more often you increase your lock-period to the max, the higher your staking weight. Higher weights receive more yield and airdrops. Organic DeFi Value Creation
The dadfeevault1 currently holds nearly $30k in value, including $10k in stablecoins and $11k in EOS. There’s also millions of eCRV in the eCurve WPS (ecurvewpfund). The DAO is currently using ETH bridge fees to purchase DAD and lock them for the long-term. The current yield value is around $15k per month. The DAO uses 50% for feevault and 50% for DAD buybacks, as per proposal 110. Buybacks will be conducted once each month. You can check the monthly rate at this link. The first buyback boosted DAD’s price over 33%. DAD: The Multi-Chain DeFi Token There’s 2.6 or 2.7 M dollars of DAI and USDC sitting on ETH, locked in a contract. And the equivalent on EOS is pegged and locked up in eCRV. On the ETH side, a percentage of the vault is staked into the original curve.fi. Those tokens are actually earning 15K each month in yield. Since the ETH bridge generates yield, DAD is not dependent on EOS price. The DAD token is independent and self-sufficient of EOS. There’s $15,000 in monthly buybacks and $4000 per month of airdrops backed to DAD holders locking their tokens. All made possible by DAPP Network technology. DAPP Network's tech stack enables developers to create #EVM compatible layer 2 solutions. $DAPP is the perfect, decentralized middleware for smart contract platforms. Messari @MessariCrypto 1/ An EVM is a ‘virtual machine’ that runs smart contracts, first on @ethereum, and now on a panoply of emerging side-chains and L2s. Currently, 70% of the top ten Smart Contract Platforms are EVM compatible. Why is this detail relevant to evaluating Smart Contract Platforms? https://t.co/EIuk8TVeTzDAD is generating yield using DeFi fees, NOT inflation. The buyback and locking of DAD tokens make it deflationary. And there’s regular APR from non-DAD issued tokens, like stablecoins and projects using DAD & DAPP Network’s tech. DAD has created a truly unique DeFi protocol with real utility. And DAD generates fees which are distributed back to long-term stakers. Learn how to earn…Become part of our community.Follow our socials.Subscribe to our podcast.Subscribe to this publication.
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