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PotionLabs, the developers of the new risk management layer Potion Protocol, have announced the launch of the Potion Unlock NFT auction. Those who purchase NFTs in the auction will be able to participate in the Potion Unlock game, working with other community members to release the Potion Protocol into the public domain. With this one-of-a-kind strategy based on “aggressive decentralization”, Potion Labs seeks to avoid the dangers of a traditional project launch and to maximize community involvement. 

The mechanics of the game are simple. The codebase of the entire project has been stored in IPFS and protected with a strong password. This password has then been split into segments of various lengths and will be distributed across 10,000 unique NFTs.

In order for the code to be finally decrypted and made public, participants will have to collaborate to bring enough of the pieces together. The game itself is totally open-ended: players will have to self-coordinate - without the input of Potion Labs - to find their own solution to the problem. 

Once the protocol's file is decrypted and released into the public domain, a community with ‘skin in the game' and web3 operational capabilities will have been formed. This community will then have power and stewardship over the future of the Potion Protocol as a public good.

How Can Players Participate in the Potion Unlock Game? 

The majority of Potion NFTs will be sold to the public via a Dutch-style auction starting 14^th March (whitelisting already live) where high profile DeFi and NFT participants are expected to take part. 

To strengthen the participating community, two Potion NFT rarities (Kelly Knights and Wise Wizards), have already been distributed through a $12M private sale last January. These were bought by prominent DeFi players such as Polychain, Placeholder, Maven 11, Pantera, The LAO, MetaCartel, Parafi, Spartan, Robert Leshner, Fernando Martinelli, Synthetix founders, Crypto Plaza, Roble VC, CULTUR3, Lemniscap, Zee and beToken Capital, among others.

Finally, Potion's early community members (OGs or Original Gangsters), also received a generous allocation of Potion OG NFTs at no cost, in recognition for their early community support and inspiration. A significant number of OG NFTs have also been made available in the form of airdrops to 1,000 leading members of prominent DAOs, with the goal of building a high-quality community around the project. 

What is the Symbolism of the Potion NFT Design? 

Potion Unlock NFTs commemorate the release of the Lab's Kelly Machine and its key technical breakthrough: the synthesis of the Kelly Criterion into a bonding curve. To celebrate this, each NFT symbolically and artistically represents a different insurance contract. Various characteristic artifacts are used in each NFT to represent the specific parameters of an insurance contract. 

The collection of NFTs is made up of 10,000 unique pieces, which together embody one of the first artistic renderings of a financial product as well as providing a dictionary of Kelly Criterion bonding curves. Importantly, Potion NFTs are digital collectibles, not financial instruments: only the original NFT minters can participate in the Potion Unlock game. 

What are Potion NFT Rarities?

There are 6 NFT types or “rarities” in the game, each with a different “decryption power”, giving the various players different capabilities and powers. Each NFT rarity will also have a different “redundancy” level, so no single holder can block the resolution of the game. 

What is the Motivation Behind the Project?

PotionLabs is seeking to accomplish several goals with this launch model. The developers are deep believers in decentralization and designed Potion Unlock to transfer control of the Potion Protocol to the community. In this way, the approach delivers “aggressive decentralization' and avoids power becoming concentrated in the hands of the few, ensuring that it is instead spread across the community.

This form of protocol release is also meant to create a commercially viable way for PotionLabs to continue to finance its research work while operating within clear regulatory guidelines. PotionLabs also hopes this novel release model can be of use for other Web3 projects.

What do the Team Have to Say?

“We are excited about the opportunity to introduce a new class of services built from the ground up by the community for the community. We believe in a community-first approach to creating radically new technology aimed at helping users in DeFi manage the risk of their assets in a simple and reliable way,” said Guillem Mosquera, PotionLabs Co-founder, and CTO.

"We are deeply grateful to the community around the project who decided to support our vision and team. We are experimenting with new approaches to open source development for web3 and are lucky to have a visionary community willing to fuel and support our exploration. We are excited for them to continue playing a key role in the project's community," said Jordi Muñoz, PotionLabs Co-founder and CEO.

"Extremely sophisticated on the backend, surprisingly simple on the frontend, Potion ushers in a new era of risk management for DeFi liquidity providers (LPs) and consumers. By using the Kelly Criterion, Potion allows LPs to optimally price options according to their desired risk and yield parameters. Then, by aggregating all individual LP curves, Potion offers the best-priced options to the consumer. When people say DeFi 2.0, Potion sits at the top of that list", said Chris Burniske, Partner at Placeholder.

About Potion Labs

PotionLabs is a web3-native research and software development company that has developed a robust risk management layer for crypto assets, the Potion Protocol. It pioneers a new risk pricing model based on the Kelly Criterion, which results in long-term survival mathematical expectations for LPs, and deeper, more reliable liquidity markets for users. The release of the Protocol's code is launching shortly through the Potion NFT Unlock game. More on PotionLabs here: https://potion.fi & https://potion.auction 

PotionLabs, the developers of the new risk management layer Potion Protocol, have announced the launch of the Potion UnlockNFT auction. Those who purchase NFTs in the auction will be able to participate in the Potion Unlock game, working with other community members to release the Potion Protocol into the public domain. With this one-of-a-kind strategy based on “aggressive decentralization”, Potion Labs seeks to avoid the dangers of a traditional project launch and to maximize community involvement. 

The mechanics of the game are simple. The codebase of the entire project has been stored in IPFS and protected with a strong password. This password has then been split into segments of various lengths and will be distributed across 10,000 unique NFTs.

In order for the code to be finally decrypted and made public, participants will have to collaborate to bring enough of the pieces together. The game itself is totally open-ended: players will have to self-coordinate - without the input of Potion Labs - to find their own solution to the problem. 

Once the protocol's file is decrypted and released into the public domain, a community with ‘skin in the game' and web3 operational capabilities will have been formed. This community will then have power and stewardship over the future of the Potion Protocol as a public good.

How Can Players Participate in the Potion Unlock Game? 

The majority of Potion NFTs will be sold to the public via a Dutch-style Potion NFT auction, from March 14 until March 24 starting February 28th, where high profile DeFi and NFT participants are expected to take part. Whitelisting is already live.

To strengthen the participating community, two Potion NFT rarities (Kelly Knights and Wise Wizards), have already been distributed through a $12M private sale last January. These were bought by prominent DeFi players such as Polychain, Placeholder, Maven 11, Pantera, The LAO, MetaCartel, Parafi, Spartan, Robert Leshner, Fernando Martinelli, Synthetix founders, Crypto Plaza, Roble VC, CULTUR3, Lemniscap, Zee, and beToken Capital, among others.

Finally, Potion's early community members (OGs or Original Gangsters), also received a generous allocation of Potion OG NFTs at no cost, in recognition for their early community support and inspiration. A significant number of OG NFTs have also been made available in the form of airdrops to 1,000 leading members of prominent DAOs, with the goal of building a high-quality community around the project. 

What is the Symbolism of the Potion NFT Design? 

Potion Unlock NFTs commemorate the release of the Lab's Kelly Machine and its key technical breakthrough: the synthesis of the Kelly Criterion into a bonding curve. To celebrate this, each NFT symbolically and artistically represents a different insurance contract. Various characteristic artifacts are used in each NFT to represent the specific parameters of an insurance contract. 

The collection of NFTs is made up of 10,000 unique pieces, which together embody one of the first artistic renderings of a financial product as well as providing a dictionary of Kelly Criterion bonding curves. Importantly, Potion NFTs are digital collectibles, not financial instruments: only the original NFT minters can participate in the Potion Unlock game. 

What are Potion NFT Rarities?

There are 6 NFT types or “rarities” in the game, each with a different “decryption power”, giving the various players different capabilities and powers. Each NFT rarity will also have a different “redundancy” level, so no single holder can block the resolution of the game. 

What is The Motivation Behind the Project?

PotionLabs is seeking to accomplish several goals with this launch model. The developers are deep believers in decentralization and designed Potion Unlock to transfer control of the Potion Protocol to the community. In this way, the approach delivers “aggressive decentralization' and avoids power becoming concentrated in the hands of the few, ensuring that it is instead spread across the community.

This form of protocol release is also meant to create a commercially viable way for PotionLabs to continue to finance its research work while operating within clear regulatory guidelines. PotionLabs also hopes this novel release model can be of use for other Web3 projects.

What Does the Team Have to Say?

“We are excited about the opportunity to introduce a new class of services built from the ground up by the community for the community. We believe in a community-first approach to creating radically new technology aimed at helping users in DeFi manage the risk of their assets in a simple and reliable way,” said Guillem Mosquera, PotionLabs Co-founder, and CTO.

"We are deeply grateful to the community around the project who decided to support our vision and team. We are experimenting with new approaches to open source development for web3 and are lucky to have a visionary community willing to fuel and support our exploration. We are excited for them to continue playing a key role in the project's community," said Jordi Muñoz, PotionLabs Co-founder and CEO.

"Extremely sophisticated on the backend, surprisingly simple on the frontend, Potion ushers in a new era of risk management for DeFi liquidity providers (LPs) and consumers. By using the Kelly Criterion, Potion allows LPs to optimally price options according to their desired risk and yield parameters. Then, by aggregating all individual LP curves, Potion offers the best-priced options to the consumer. When people say DeFi 2.0, Potion sits at the top of that list", said Chris Burniske, Partner at Placeholder.

###

About Potion Labs

PotionLabs is a web3-native research and software development company that has developed a robust risk management layer for crypto assets, the Potion Protocol. It pioneers a new risk pricing model based on the Kelly Criterion, that results in long-term survival mathematical expectations for LPs and deeper, more reliable liquidity markets for users. The release of the Protocol's code is launching shortly through the Potion NFT Unlock game. More on Potion.Finance here: https://potion.fi & https://potion.auction

PotionLabs Contact

[email protected]

Potion Unlock, a novel release model for decentralized Protocols registered sales of $12 million last January, from renowned DeFi firms and individuals. The Potion Labs team behind the project had previously raised $3.2M in August 2020 from top tier DeFi investment firms.

The project attracted interest from experienced DeFi parties such as Polychain, Placeholder, Pantera, Maven 11, The LAO, MetaCartelVentures, ParaFi, Spartan, Robert Leshner and Tarun Chitra, Fernando Martinelli, Synthetix founders, Crypto Plaza, Roble VC, CULTUR3, Lemniscap, Zee Prime, beToken Capital, among other reputed parties in DeFi.

The $12 million sale is part of a limited pre-release of an upcoming NFT collection that is about to launch as part of ‘Potion Unlock', a novel on-chain community consensus challenge that will take all the protocol code into the public domain. The game is aimed at accelerating decentralization while creating a well defined regulatory framework for dev teams and participants.

In addition to this initial sale, a broader public NFT sale will also take place, and be open to the wider community. Finally, a % of the collection is also being made available to project OG members, who will get an allocation of NFTs in recognition for their contributions to the community. 

The team plans to continue doing research and development in the Web3 space, and is committed to continue working on radically new and high quality public goods.

“We are excited about the opportunity to introduce a new class of services built from the ground up by the community for the community. We believe in a community-first approach to creating radically new technology aimed at helping users in DeFi manage the risk of their assets in a simple and reliable way,” said Guillem Mosquera, PotionLabs Co-founder, and CTO.

"We are deeply grateful to all the great ecosystem community members who decided to support our vision and team at this crucial step. We are experimenting with new approaches to sustainable web 3 public good funding, and are lucky to have innovative supporters in our community willing to enable our explorations. We are excited for them to continue playing a key role in this project's community and beyond," said Jordi Muñoz, PotionLabs Co-founder and CEO.

"Extremely sophisticated on the backend, surprisingly simple on the frontend, Potion ushers in a new era of risk management for DeFi liquidity providers (LPs) and consumers. By using the Kelly Criterion, Potion allows LPs to optimally price options according to their desired risk and yield parameters. Then, by aggregating all individual LP curves, Potion offers the best-priced options to the consumer. When people say DeFi 2.0, Potion sits at the top of that list," said Chris Burniske, Partner at Placeholder.

###

 

About PotionLabs

PotionLabs is a web3-native research and software development company that has developed a robust risk management layer for crypto assets, the Potion Protocol. It pioneers a new risk pricing model based on the Kelly Criterion, that results in long-term survival mathematical expectations for LPs and deeper, more reliable liquidity markets for users. The project is launching shortly through a release mechanism based on NFTs. More on Potion.Finance here: https://potion.fi

PotionLabs Contact

[email protected]

    

Seoul, Korea, Feb 11, 2022 - (ACN Newswire) - Recently, Tower Finance is proud to announce the Launch of its Algorithmic Stablecoin. Algorithm-based stablecoins are new variants of cryptocurrency tailored for offering improved price stability. In the current market today, more and more users have taken interest, as it can also help in balancing the supply and demand of the asset in circulation.

Algorithmic Stablecoin Protocol, developed by Tower Finance, looks to offer considerably improved capital efficiency in comparison to collateralized stablecoins.

What is Tower Finance?

The Tower Finance is a Fractional-Algorithmic Stablecoin, soft-pegged to the U.S. Dollar, built on the Polygon network. The protocol plans to maintain TWR price stability by storing sufficient collateral in the time locked-smart contracts. The USDC is deposited into the protocol when a user mints TWR token, while the CUBE token, which is used for minting, is burned. When the user redeems TWR tokens, the protocol pays back USDC and mints the required amount of CUBE tokens. This allows arbitrageurs to help maintain price stability.

Aiming to solve the 'Stablecoin trilemma'

Tower Finance aims to provide a solution for the so-called 'Stablecoin trilemma' of decentralization, capital efficiency, and price stability by introducing TWR, its fractional-collateralized algorithmic stablecoin. Tower Finance aims to build an ecosystem that incorporates both collateral and high capital efficiency, hence developing stability.

By implementing a floating collateralization ratio, TWR not only maintains its peg in the most efficient manner possible, but it also captures value for CUBE holders and produces yield for its community of holders.

Implementing DeFi 2.0 through Protocol Owned Liquidity and Protocol Rented Liquidity

Tower Finance is the first algorithmic stablecoin protocol to adopt the 'Protocol Owned Liquidity' model introduced by OlympusDAO. While the structure is different, the underlying idea is similar. The protocol charges a penalty to users who terminate the vesting terms for the farming rewards. When this happens, the protocol uses 2/3 of the collected penalty for providing liquidity. Half of it is converted to USDC and used to provide liquidity. The leftover, which amounts to 1/3 of the collected penalty, is sent to the Profit Manager.

When TWR is minted with USDC and CUBE, the protocol doesn't immediately burn CUBE. Instead, 50% of CUBE is sold to temporarily create a CUBE-USDC LP to provide additional liquidity. We call this 'Protocol Rented Liquidity', because the meant-to-be-burnt tokens are borrowed for a short period of time to add liquidity to Tower's ecosystem until it is removed via governance decisions, in which case, the USDC is converted into CUBE and burned.

With a commitment for long-term sustainability yet a market fit, ultra high-yield/yield enhancement go-to-market strategy, it is perfectly destined to pave the way for stablecoin protocols in the era of DeFi 2.0

Tower Finance officially launches on Valentine's Day: 14^th of Feb, 6:00am UTC.

https://medium.com/@tower_finance/calling-all-towerians-the-time-has-come-2fa7fe9a24fc

Social Links
Twitter: https://twitter.com/tower_finance
Discord: https://discord.com/invite/KVTe6hRZK8
Medium: https://medium.com/@tower_finance
Github: https://github.com/towerfinance

Media Contact
Brand: Tower Finance
Contact Jeremy Parker, Head of Marketing
E-mail: [email protected]
Website: https://towerfinance.io/

SOURCE: Tower Finance

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