CVP surged 120%, a detailed exploration of the PowerPool ecosystem.

avatar
MarsBit
07-26
This article is machine translated
Show original

ecosystem

PowerPool is a DePIN layer for executing transactions for Defi and AI protocols based on on-chain and off-chain triggers.

The main focus of PowerPool expansion is L2 with low gas fees, high TVL, and a wide user base. Recently, PowerPool DAO approved the L2 expansion and rollup-focused rewards proposal , which is the most needed by Defi users and capital owners.

Transactions automatically executed by PowerPool bring more value to users, AI agents, and the aggregation itself because it allows more transaction fees to be generated.

The PowerPool ecosystem is growing rapidly as more chains and integrations are added:

ecosystem

https://dune.com/powerpool/poweragent-multichain

In this article, we will give a brief overview of the PowerPool ecosystem on Ethereum, Gnosis, and Arbitrum. Statistics for all chains can be found in the Mulichain dashboard.

Ethereum

SupremeDAO is currently a major member of the PowerPool ecosystem on Ethereum. They received funding from PowerPool DAO to develop automated yield strategies focused on ETH yield generation. The first strategy launched on the mainnet was the Genesis strategy, which was initially released in test mode.

SupremeDAO provides a DeFi protocol that aims to provide transparent, community-driven, high-yield opportunities. They aim to simplify interaction with DeFi protocols and maximize returns through one-click access to automated multi-protocol strategies, resulting in secure and transparent high returns.

The complete version of the algorithm specification is shown below:

  • Initially, open a CDP on crvUSD.curve.fi , collateralize with wstETH, and borrow crvUSD.
  • Next, exchange crvUSD for USDC on Curve.
  • Then, liquidity is provided to the D2D/USDC pool on Balancer . The LP tokens received in the pool are staked on Aura.finance and generate income from exchange fees and AURA and BAL token rewards.
  • Part of the rewards are used to bribe mining pool rewards through the Paladin protocol.
  • All rewards are converted into wstETH and used to increase the collateral initially deposited, which is also the user’s capital, so the rewards are directly compounded.

ecosystem

SupremeDAO’s ETH yield generation strategy.

An important aspect of the algorithm is to protect positions from liquidation risk. It regularly checks the collateral health ratio of the CDP, keeping it above 30%. If the ratio falls below this threshold, the farmed CRV tokens are automatically sold to buy crvUSD and increase the health ratio.

Learn more about the SupremeDAO project from their grant application , interviews , and AMAs .

Gnosis

Powerpool’s statistics on Gnosis:

ecosystem

https://dune.com/powerpool/ppagent-gnosis

Gnosis is PowerPool’s first mainnet deployment. Since it is a low-fee chain, it is well suited for automation in various ways and has over 100 active jobs launched.

One of the ecosystem partners using PowerPool to automate Gnosis is Breadchain. Breadchain is a community of post-capitalist blockchain projects and protocols that aims to enable transparent public goods financing. PowerPool provides them with automated funding for their projects based on their governance decisions.

Breadchain, also a member of our Builder Grants program, has achieved this by incorporating decentralized and reliable automation into their project.

ecosystem

PowerPool’s Breadchain governance automation solution.

Learn more about the Breadchain project from their grant application , interview , and AMA .

When discussing other automated applications, it is important to highlight validator reward claiming jobs. These jobs effectively automate GNO reward claims and seamlessly redeem them for stablecoins or other assets.

Read more details and see working examples here .

Arbitrum

PowerPool stats on Arbitrum:

ecosystem

https://dune.com/powerpool/ppagent-arbitrum

On Arbitrum, PowerPool currently automates operations for two protocols: Gearbox and Partitura. These automated processes increase efficiency by managing complex tasks that would otherwise require significant manual intervention.

Partitura is a protocol that simplifies Web3 by providing account abstraction solutions, automated workflows, and intent-driven AI. It allows users to create custom flows - a series of automated and bundled transactions:

ecosystem

Partitura's automated process

Partitura created an integration of Safe Account Abstraction for PowerPool as well as the PowerPool DCA template . The project is focused on using PowerPool Automation as an ecosystem infrastructure service for future products.

  • DCA on Partitura is included in the PowerPool points program, which means DCA users can earn points. If you have questions about how to start a DCA strategy, check out the instructions here .
  • Learn more about Partitura from their grant applications , interviews , and AMAs .

Gearbox is a protocol that provides leverage farming services, including leveraged points farming on popular protocols. The PowerPool team found that the replenishment of Gauge rewards on Arbitrum could be automated, explored the design of Gearbox, and created a job that replenishes Gauge with rewards. Learn more about the job design here .

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments