What Is PowerPool DAO?
PowerPool DAO is an asset management Decentralized Autonomous Organization (DAO) that specializes in creating and managing diversified pool investment tokens.
Background
Vasily Sumanov and Not Satoshi founded PowerPool in 2020.
How It Works
PowerPool DAO currently manages four Power Indexes – PIPT, YETI, ASSY, and YLA. These are based on Balancer’s Automated Market Maker (AMM) system to maintain pool weightage.
CVP is the native token of PowerPool DAO. Token holders can stake their CVP into xCVP. This staking allows holders to propose and vote on protocol changes. In addition, xCVP can be staked to earn a portion of the fees generated by the protocol. xCVP holders can also participate in pool management and join the PowerOracle network.
Key Takeaways
- PowerPool DAO is an asset management organization that operates on a decentralized, autonomous basis.
- It specializes in creating and managing diversified pool investment tokens.
- PowerPool DAO currently manages four Power Indexes: PIPT, YETI, ASSY, and YLA.
- CVP is the native token of PowerPool DAO, and holders can stake their CVP into xCVP.
- xCVP holders can propose and vote on protocol changes, earn a portion of the protocol’s fees, participate in pool management, and join the PowerOracle network.
