VenomDAO has been bringing liquidity to the Concord ecosystem since its launch. It has continued on this path with a lot of merchandise that permit customers of the community to make the most of its distinctive alternatives. It performed an vital function in ushering DeFi customers into the Concord ecosystem and its liquidity infrastructure is being utilized throughout a number of blockchains.
Because the one-year anniversary of the protocol attracts shut, VenomDAO has continued to offer a much-needed service to the Concord neighborhood. From the launch of ViperSwap, the primary AMM/DEX providing incentives and populating yield farming, to CobraSwap on BSC, its first multi-chain enlargement, VenomDAO has solidified its place as a thought chief on Concord. However what’s subsequent?
VenomDAO Launches Cozy Cash
Cozy Cash is the most recent in a protracted line of merchandise which were launched by VenomDAO. This new product options an algorithmic stablecoin that will likely be pegged to $ONE. It’s a multi-token protocol which implies that there’s multiple token working on the platform. Cozy Cash options three tokens together with $COMFY, $CSHARE, and $CBOND.
As for the underlying mechanisms, they are going to systemically regulate $COMFY’s provide to maneuver its worth in accordance with that of $ONE, making it a steady peg.
Cozy Cash will act as an incentive for Concord customers to stake extra of their $ONE tokens to behave as validators to keep up and safe the blockchain. $COMFY which is a 1:1 peg will then be used and traded throughout all DeFi protocols on the Concord community with out shedding out on the appreciation of the $ONE token over time.
Cozy Cash will assist VenomDAO in persevering with to construct liquidity infrastructure for a multi-chain world.
Constructing For The Future
VenomDAO’s suite of merchandise, consisting of previous, current, and future launches all construct into its mission to convey liquidity to Concord. The blockchain which is seeing DeFi exercise ramp up in latest instances has seen a lot of protocols launched. Every one in all these wants liquidity and VenomDAO presents a approach for initiatives to bootstrap and personal their liquidity proper from the very begin utilizing the Launchpad.
An upcoming cash market product from VenomDAO is aimed toward capturing extra TVL (Whole Worth Locked) for the Concord ecosystem. It’ll present deeper liquidity within the ecosystem and convey extra use instances to the VIPER and WAGMI tokens. It’ll additionally see the launch of a perpetual/leverage platform that may make the most of ViperSwap and Cash Market to convey leveraged buying and selling and leveraged yield farming to its customers.
Present merchandise may also get a facelift this 12 months with a brand new UI for ViperSwap, alongside a transfer to veVIPER and decentralized allocation through gauges, gamification, and NFTs that unlock distinctive performance. Moreover, VenomDAO will convey Protocol Owned Liquidity (PoL) with WAGMI getting new bonds to allow auto-staking/versatile vesting and WAGMI Professional with bonds as a service for present Concord initiatives looking for their very own liquidity.