Singapore, March 18, 2022 (GLOBE NEWSWIRE)-
Recently, DeFi 2.0’s flagship project, NodeDAO, is DAO-oriented to help fund investors profit and at the same time provide insurance support services to projects that are worth the profit of the project. Announced that it will concentrate on building the vault.
Vault is NodeDAO’s core, DeFi 2.0 repository, depositing a variety of assets such as LP tokens, mainstream assets, stablecoins, investing in agriculture and earning money by supporting valuable projects. .. Such revenues are distributed to NED holders by DAO governance.
Most of the more popular harvest farming projects previously rewarded owners by issuing additional passes. This inevitably led to large-scale sales, making it difficult to maintain stable prices and even leading to the premature collapse of the project. In contrast, NodeDAO has abandoned the traditional approach of incremental mining to encourage liquidity and has adopted an incentive to sell NEDs at a discounted price to earn liquidity LPs. If NED discount sales are enabled, users will be able to purchase Project Passes at a discounted price through Liquidity LP. User Liquidity LP tokens are deposited in the vault, increasing liquidity, avoiding discerning and profitable dumping, and ensuring protocol sustainability.
Increased liquidity can increase the confidence of users to continue to participate without having to worry about liquidity due to the outflow of large investors. This avoids the shortcomings of the early DeFi agricultural era.
In addition, NodeDAO is owned by the NED pass holder and managed in a fully decentralized manner. Pass holders, on the other hand, are responsible for providing insurance capital. The NED Pass is a community that allows users to purchase insurance, participate in claim assessments, participate in pledge risk assessments, and participate in community governance as an asset to maintain the system. Represents membership rights.
NED is the native path of the NodeDAO insurance protocol and can only be created or destroyed by the protocol. The owner has the right to vote for new developments and changes in the protocol. NED is supported by a basket of assets in the vault. , And all 1 NEDs are supported by 1 USDT without being hooked. Each NED in the vault is backed by at least 1 USDT, so if the price of the NED falls below 1 USDT, the protocol will buy back and discard the NED. NED can always trade at prices above 1 USDT, providing room for holders, but of course the price of NED is ultimately determined by market supply and demand. There is no approval, recommendation, or discussion here.
DeFi 2.0 needs to improve infrastructure layer and enhance “distributed” capabilities
At the core of DeFi 2.0 is transforming mobility into the infrastructure layer of DeFi, thereby making DeFi more sustainable. NodeDAO’s innovative incentive approach has brought new ideas to the sustainability of DeFi 2.0.
In addition, DeFi 2.0 needs to maintain and enhance its “distributed” nature. The project’s founding team should only provide the platform to its users and should not have the original intention of controlling the price of the platform and coins. The experience and lessons learned over the last few years prove that ICOs are the wrong incentive mechanism. DeFi 2.0 adopts a more rational token issuance mechanism, significantly reducing the control of the founding team, providing users with a high degree of autonomy, and taking full advantage of DAO’s governance mechanism to keep the project in order. is needed. The NodeDAO project is fully controlled by NED users and makes all decisions such as the percentage of fees charged and the determination of insurance pricing model parameters made by NED users who vote for DAO.
DeFi 2.0 itself represents the inevitable evolution of DeFi, and NodeDAO has both the innovative incentives and “distributed” features needed to develop DeFi 2.0, making mistakes in the next wave of DeFi 2.0. Will get a lot of attention.
Website: https: //nodedao.io/#/
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