AIP-013: Vortex Launch

Abstract

This proposal is to decide whether to launch a new product on Akropolis - Vortex.
Vortex is an on-chain basis trading product that generates sustainable, lucrative and market-neutral yield across all projected market conditions.

Vortex will initially launch on Binance Smart Chain and Arbitrum mainnets and will be subject to a guarded launch.

Rationale

Why launch on mainnet?

Vortex launching on mainnet will mean it is available for users to generate yield. Vortex is currently live on testnet, but due to only being able to use test funds, it does not generate tangible returns.

Why do we need the governance vote?

Akropolis is a suite of DeFi products, with a focus on decentralization. It is important for this decentralization to be maintained, particularly as we move towards a full DAO structure, as all AKRO stakers will be entitled to vote for their preference. We encourage all AKRO stakers to vote on all proposals.

Why a guarded launch?

A guarded launch means that Vortex will be subject to restrictions post-mainnet release. These restrictions include user access, deposit limits and strategy parameters. We expect to scale beyond these limits quickly, but for security reasons and to ensure consistency in the expected performance, we believe a guarded launch approach is best.

The guarded launch would include individual deposit limits and an overall vault capacity limit - see our proposed overview below:

  • Total Vortex capacity for Guarded Launch (1st iteration): 250,000 USD
  • Individual user limits (per ETH address): 2,500 USD

As testing continues on mainnet, we will be posting additional proposals for increasing these limits post-launch.

What do AKRO stakers receive?

AKRO stakers will receive a share of all fees generated by Vortex. The current product fee is a 25% performance fee, with 75% directed to AKRO stakers.

We propose fees to be converted to AKRO & giving users the ability to claim them from the Summary page every 2 weeks.

Will there be extra incentives to use Vortex?

Following the guarded launch, liquidity mining rewards and incentives may be introduced to encourage deposits into Vortex to maximize fee revenue. Any additional incentives or rewards will depend on the outcome of the existing inflation governance proposal.

Specification

If this proposal passes, the following will happen:

  1. Vortex will launch on BSC and Arbitrum mainnets. It will be available for all to access via the Akropolis front-end.
  2. Vortex will follow a structured guarded launch - including user access limits and total vault deposits limits of $250k - $1m - which will be scaled out at a rate determined via future governance proposals.
  3. User access limits will be lifted at the end of the guarded launch, while overall vault deposit limits will remain.
  4. Additional incentive programs for using Vortex may be introduced.

Vote

FOR: Vortex will launch on BSC and Arbitrum mainnets, initially with a guarded launch that scales over time.

AGAINST: Vortex will not be launched on any mainnet and the product will remain unavailable on Akropolis.

Non-binding signalling:

  • FOR: Vortex will launch on BSC and Arbitrum mainnets, initially with a guarded launch that scales over time.
  • AGAINST: Vortex will not be launched on any mainnet and the product will remain unavailable on Akropolis.

0 voters

BINDING VOTE:
https://snapshot.org/#/akropolis.eth/proposal/0xd01586cb68269796cfaf69f9dde59079b992bbd89082ef26e8758fa9800dbac1

4 Likes

I would love to see Vortex live!

Great product, unique and giving people way to earn money no matter of market conditions. Great returns for AKRO stakers as well!

5 Likes

I love the fact that the team tested Vortex to the maximum. We have an ready product to go and the community was waiting for it. There is no reason to not get it running and start earning yield! I personally can’t wait for it so lets vote for Vortex! :slight_smile:

4 Likes

Can’t wait to see Vortex live!!! Let’s go!!

3 Likes

@Sidzuka,

Hello. I had a question in regards to the following proposal:

“We propose fees to be converted to AKRO & giving users the ability to claim them from the Summary page every 2 weeks.”

Will the claim option be available on Ethereum L1 exclusively or also on BCS mainnet and Arbitrum mainnet?

I also have similar question for potential future liquidity mining and incentives for using Vortex.

1 Like

Swap back to AKRO & claiming will be on Ethereum for the time being.

1 Like

SNAPSHOT BINDING VOTE:

https://snapshot.org/#/akropolis.eth/proposal/0xd01586cb68269796cfaf69f9dde59079b992bbd89082ef26e8758fa9800dbac1

1 Like