What is PowerPool (CVP)?
PowerPool is a protocol that offers automated DeFi products. It provides users with the ability to pool tokens together, borrow from these polls, or lend governance tokens to other users. This gives them benefits such as earning income and more voting power, as they can then vote on proposals as a unit.
PowerPool uses the Concentrated Voting Power (CVP) token as its utility, governance, and reward token. If you care to see the live CVP price, check out the PowerPool price chart above.
Initially, PowerPool was launched as a meta-governance protocol. However, later, it evolved and introduced automated DeFi tools (this includes crypto vaults and smart token baskets). Together with these tools, PowerPool also presented PowerAgent, which is a decentralized automation network. It allows users to automate intricate on-chain techniques and successfully complete transactions. For instance, it helps in performing automated smart contract calls, harvesting, compounding rewards of pool weights, or making any other required on-chain movements. Furthermore, the protocol also has the PowerOracle feature, which is a decentralized cross-chain oracle that delivers price feeds from various networks.
Use Cases of CVP Tokens
Primarily, CVP tokens can be staked to generate rewards. By staking CVP tokens, PowerPool DAO members receive xCPV tokens (the yield-generating version of CVP). Holders of xCVP receive a portion of protocol fees and earnings as a reward.
Moreover, CVP tokens act as governance tokens on the platform. Thus, CVP holders can participate in various decisions concerning the governance of PowerPool protocol, products, and usage of DAO resources. This also includes meta-governance, which is deciding how assets locked in a protocol would vote on proposals made by other DAOs for governance.
Lastly, CVP tokens also play a big role in PowerAgent, acting as the network token. This means that users have to stake CVP to become Agents and be eligible for receiving rewards for executing network transactions.
Interested in buying PowerPool tokens? Before doing that, make sure to analyze the current and the previous CVP price. You can do that using the PowerPool price chart above.
Who Founded PowerPool?
The founders have remained anonymous, however, they identified themselves as Leroy Oshiya and NotSatoshi. NotSatoshi is described as an anonymous developer and an early adopter of crypto. Leroy is described as a powerful power broker in the crypto space. However, the leading team is also made up of two other public members – Gordon Gekko and Vasily Sumanov. They are both largely experienced in cryptocurrencies, payments, asset management, business development, and other fields relevant to the growth and success of the PowerPool platform.
CVP Tokenomics
The maximum supply of CVP is 100 million tokens. These tokens have been divided into different rounds for distribution purposes. There are three rounds - Alpha, Beta, and Gamma. Each of the rounds was allocated 5% of the available tokens, however, they came with an 18-month linear vesting period. Furthermore, 24% of the supply was allocated for liquidity mining rewards, while the remaining tokens were added to the community treasury.
