Grape Finance=Financial Freedom
Nice day my Crypto frenz, aching to find another Defi protocol that rewards you some juicy dividends to survive this bearish time. I am here to give you an alpha to ape in and I already ape in their protocol for the reward of their native LP tokens. The name of the protocol is Grape finance in Avalanche Chain.
What is Grape Finance
Grape Finance is an algorithmic stable coin protocol pegged 1:1 to MIM on Avalanche. Much like Basis Cash, our protocol uses three tokens (GRAPE, WINE, GBOND) to incentivize a stable 1:1 peg to MIM.
Why choose Grape Finance from other algorithmic protocols?
As the Grape team had said that they are big fans of Basis Cash when they came out last year. Many of the current forks are focusing their efforts on pegging to their respective L1 tokens, aiming to increase liquidity of the native token.
While an admirable and achievable goal, we want to return to the original intentions of the likes of Basis et al by pegging to a stable coin. With major increases in Defi TVLs, smart contract abilities and L1 chains over the last year we feel helping to increase the liquidity of stables is now important more than ever especially if we want to bring more of the regular world into crypto. MIM being the decentralized stable coin of choice on Avalanche seemed like the perfect match.
With our protocol we hope to bolster MIM's liquidity on Avalanche, offer a pegged MIM substitute for lending/collateralization and offer this cross chain as well, essentially becoming our own algorithmic stable coin. Pegging to MIM instead of AVAX makes cross chain activities and collateralization more flexible, easier to manage and has a wider potential audience than a L1 specific peg as we can effectively act like a stable coin. One major advantage of not being collateralized like MIM is that you don't have to lock up capital in order to create GRAPE, the downside of which is that the value of GRAPE will fluctuate much greater than if it were collateralized.
The Grape App
There are nine grape dapp in the Grape Finance ecosystem that would surely reward a user in any app he picks. The first dapp is Xgrape where you can mint Xgrape in a value of 1 xGrape = 1.086 Magik LP where the price is at $1.555 and immediately deposit it in the Soda Press. The Soda press is where the magic happens where your Xgrape is deposited in the LP to gain some LP rewards. Next dapp is the SEIGNIORAGE PROTOCOL where you can see and interact on all the liquidity pools available that are linked to other Defi protocols that hold those LPs. Grape Nodes is the third Dapp where a user can purchase a certain Node that could give him a 1.5% daily reward while also node holders receive additional monthly airdrops. Next Dapp Wine Press where a user locks Wine-MIM LP and earns up to ~1.25% daily + bonus and also a feature where you can Assassinate players for more returns. Fifth Dapp in the ecosystem is PEG HEALTH CAMPAIGN where a user can Bond Grape, MIM, or Grape-MIM LP, and receive discounted Wine over a vesting period of 72 hours. Next in line is Wine Maker (NFT Staking RPG) It’s an RPG game where a user Vinters NFT is Stake, and can also equip & train them to become a Master Winemaker. Earn $Vintage and get up to ~1.5% daily. The last three Dapp are Casino,Burn Games, NFTS and Rewards. The Casino is where a user buys tickets with Grape and play games with a chance to win BIG! Burn games is alos a gaming platform where a player buys tickets with Grape to play a variety of classic & new arcade games. Top players earn prizes! Finally NFTS and Rewards can provide the NFT holders bonuses for and grant premier access to Grape Finance.
How do the Grape finance calculate the APRs
Vineyard APRs
Everyday in the Vineyard there are 110.810592 WINE released in total across all the pools (Not including the HSHARE-WINE LP pool, WINE for this pool is sent directly from the DAO's vested WINE). The total amount of WINE released per day cannot change and is hardcoded in the smart contract. What does and can change is the amount of WINE out of this ~110 that are distributed to each individual pool, this is known as the pool weighting and can be adjusted by the dev team in order to adjust pool APRs.
Pool APRs are determined by a number of factors including the current market price of WINE, the TVL of that pool and the amount of WINE that gets sent to that pool each day (weighting). If the price of WINE declines the APR will drop and likewise if the price of WINE increases so to will the APR, this is also the case if the TVL of the pool drops or increases.
Final Thoughts
In this bearish time we are experiencing in the crypto market, some Defi protocol projects had already closed shop or abandoned ship to try again later but a shining Defi project in AVAX have come and shows that a properly managed project can beat the bear. The Grape ecosystem is mostly a finished product and still updating to have better UI experienced for its user in Q2 on their roadmap.
Q1
- Grape & Wine Airdrop for dedicated supporters ✅
- Renounce ownership of Grape contract ✅
- Start marketing blast & influencer partnerships ✅
- Grape staking for Wine rewards ✅
- More autocompounder providers ✅
- Implement Zap contract for LPs ✅
- Strategy guides implemented on site ✅
- User help guides in docs ✅
- Start weekly Grape burns from the DAO ✅
- Wine governance voting through snapshot ✅
- Integrate weekly Wine raffle on site ✅
- NFT drop for LPs & WINE hodlers providing exclusive access to new developments ✅
- Launchpad & partnerships with projects to give exclusive benefits for WINE holders ✅
- Grape & Wine nodes (bonus feature) ✅
Q2
- UI/UX website revamp (ongoing)✅
- Chainlink integrations ✅
- Implement bonding to secure protocol owned liquidity ✅
- LP nodes (bonus feature) ✅
- NFT based p2e game & staking ✅
Q3
- Implement cross chain Grape liquidity
- Lending & borrowing platform including Grape & Wine as collateral
- Auto repaying loans using yielding strategies
- Leveraged positions
- Partner with projects in the ecosystem to improve token utilization (ongoing)✅
Q4
- Dedicated mobile app for Grape Finance
- Partner with crypto payment gateways to accept Grape
- Partner with card provider
- Card payments using credit from collateral provided
- Payment rewards & cashback system
In the end it's all about the dividends rewards where a good fren of mine tweets his passive income of 690$ from the wine press liquidity pool a good thing or a very good strat in this bear time.
https://twitter.com/nelsoncryptoman