RenCrv is currently running to be integrated into the Idle Perpetual Yield Tranches (PYT). Voting starts on Thursday the 20th!
Idle Leagues designed a listing tournament for $IDLE holders to select the next assets that will be integrated into Idle PYT, using Convex as the underlying yield source.
The 5 winners will be selected through playoff & final rounds! RenCrv is located in playoff #1.
Benefits for the Ren Community
The product provides an additional gateway to provide liquidity into Curve and Convex, reducing slippage and improving the resilience against asset fluctuation.
With Perpetual Yield Tranches, LPs can earn a higher share of yield by taking a higher percentage of risk (with Junior Tranche), or they can hedge the risk by depositing their assets into a built-in protected tranche (with Senior Tranche).
Furthermore, PYTs can be integrated by other applications like APWine, a protocol that allows users to speculate on the evolution of the generated yield.
How it works
The initial phase represents the playoff, where the top5 most voted assets for each snapshot will be elected to go to the grand final. At the end of the playoff season, token holders will select 15 assets. Then, the top5 most voted assets during the finals (out of 15 candidates) will win the contest and get their Perpetual Yield Tranches live and running.
Timeline
- January 20th: contest kickoff
- January 20th to January 27th: Playoffs
- January 27th to February 3rd: finals
In order to increase the chances to get your pool voted, join our Forum and connect with our community. DAO2DAO proposals are welcome too!
Further information can be found in the Idle Forum.
Best of luck! 