Till date, 3 protocols have expressed their intentions to build on top of @astroport_fi utilizing the Yield Boosting Strategy pioneered by @ConvexFinance. These are:
1. @ApolloDAO
2. @retrogrademoney
3. @reactor_money
Extremely bullish news for Astroport! Here's why:
๐งต(1/8)
1. @ApolloDAO
2. @retrogrademoney
3. @reactor_money
Extremely bullish news for Astroport! Here's why:
๐งต(1/8)
1. The Yield Boosting Strategy will involve the protocols to incentivize users to deposit $ASTRO with them in exchange for offering more yield from single-sided staking and providing liquidity.
2. When a user deposits $ASTRO into the protocols, they will get a wrapped version of $ASTRO in return, for e.g. $reASTRO, $retroASTRO. Users can swapped back their wrapped $ASTRO for $ASTRO anytime on DEXs
3. In the backend, the protocols takes the $ASTRO and LOCKS it up PERMANENTLY in Astroport's locking contract. This will essentially put immense deflationary pressure on $ASTRO as locking it up permanently decreases its circulating supply.
4. We all know how this goes next. Decreasing circulating supply of $ASTRO -> $ASTRO up only. If this sounds familiar to you, it's because this is what's happening to $LUNA with the increasing adoption of $UST!
5. At the end of the day, no matter which protocol acquires the largest share of $ASTRO, Astroport will be the one that benefits the most. They will be the Kingmakers of Astroport.
6. It will not be wise to fade on Astroport anymore. $ASTRO is about to become scarce and highly sought after!
7. Disclaimer: I hold $ASTRO in my portfolio
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