PowerPool is a protocol that aims to accumulate governance power in Ethereum-based protocols. In this article, as Kriptokoin.com, “What is PowerPoint?” We will answer the question. In addition, we will touch on other questions about the project.
What is PowerPool? What Does It Do?
PowerPool aims to accumulate governance power in Ethereum-based protocols. It allows token holders to pool, lend and borrow management tokens, as well as generate revenue and accumulate governance power in protocols. Concentrated Voting Power (CVP) is the token used to manage and incentivize users on the PowerPool platform.
The protocol offers actively managed structured DeFi products such as vaults and diversified thematic indexes built on modular asset management strategies powered by the PowerAgent automation network. PowerPool DAO’s mission is to create capital-efficient configured DeFi products that are deployed across all EVM-compatible networks.
PowerPool and PowerAgent network run on Ethereum. With the automatic collection of internal yield for token holders, it has started to be deployed on the BNB Chain with BSCDEFI, a diversified basket/index of DeFi tokens running primarily on the BNB Chain.
However, the PowerPool protocol consists of two components:
- Power Index: A community-run Decentralized Finance (DeFi) index that uses aggregated tokens for meta-management and fund management strategies. The Power Index Pool Token (PIPT) is a token that represents a share of the index.
- Power Oracle: Time-Weighted Average Prices (TWAPs) uses Uniswap V2 as its primary data source. It is a decentralized cross-chain price prophecy. Also, Power Oracle allows token holders to stake CVP.
What is CVP Coin?
CVP is a local government token for PowerPool DAO and PowerAgent Network with multiple token usage scenarios. The token had no pre-mining or token sales. Distributed to users through liquidity mining.
- Allows you to bet as xCVP to share 100% of the fees earned by the protocol.
- Index products, DAO Treasury management, allocation of liquidity mining rewards, etc. Contributes to DAO governance votes to influence platform development on various topics such as
- It transfers CVP to PowerAgent Network Guards to sign transactions on time and earn fees.
What are the advantages?
- It creates a fairer decision-making mechanism due to the low gas fee.
- The amount of CVP in circulation increases by 15% each year.
- It can be obtained by holding passive income.
What are the disadvantages?
- The anonymity of the developers can create distrust of crypto investors at first glance.
- It can create hesitation at the point of purchase due to high price changes.
What is PowerPool? How to Get CVP Coins?
PowerPool is traded on many cryptocurrency exchanges. However, those who want to invest in the project should open an account in one of the exchanges where the project is traded. Exchanges where PowerPool is traded are listed as follows: Binance, OKX, MEXC, BingX. Users who want to invest in the project should open an account on one of these exchanges.
