AERO Pool - Path to Defi

Published on
August 29, 2022
Written by
Max Fitzpatrick
Category
Aerovek Announcements

Aero Pool & $AERO Tokenomics Evolution

Launched at the beginning of February 2022, the AERO Pool, was one of the first off-DEX options to stake ESDT tokens, more specifically the AERO token. With the staking and reward mechanism developed  in-house from scratch, it was proof of our abilities and commitment to building on the Elrond blockchain. What started as a temporary solution until the AERO farm was activated on the Maiar DEX (which unfortunately never came to life because of factors out of our control) the AERO Pool became a constant and reliable part of our products. Delivering like a Swiss clock, rewards every 2 seconds with a constant APR of 50% for our community members. 

The AERO Pool staking service bootstrapped the token distribution aiming for increased adoption, rewarding the early adopters and subsequent token holders. The simple, smooth, and secure AERO Pool staking service (accessed through our in-house developed digital wallet) rewarded stakers with an APR of 50%, with withdrawal any time option after the initial 3-day locking period.

Enter ProteoDefi

During our time building on the Elrond Blockchain, we have witnessed the evolution of the Elrond ecosystem and the emergence of various promising projects. On our quest to add new flavors to AERO utility while boosting the opportunities for its holders, one project really stood out to us. A project that offered advanced decentralized finance services and was built by a team of experts in their fields.

This project was Proteo DeFi! From the start, we simply wouldn't have any other project design the next evolution of the $AERO tokenomics. With a tremendous level of DeFi knowledge displayed through their carefully planned tokenomics and services, we are confident that there is not a better offering for DeFi services in the Elrond Ecosystem.  PROTEO is an Exclusive Elrond Defi Suite and takes advantage of the robust Maiar DEX to carry out operations. Proteo not only expands the possibilities of the Maiar DEX but also aids in project stability.

How will it work?

Through our partnership with Proteo DeFi, an AERO/PROTEO dual reward farm will be available on Proteo dApp that can be accessed by using AERO/EGLD LP tokens. This will provide liquidity on the Maiar Dex as well as our newest partner’s dApp. The AERO/EGLD LP token will be created on Maiar DEX and then used on Proteo dApp AERO/PROTEO farm. 

The AERO/PROTEO farm will provide dual rewards in the form of AERO and Proteo tokens with a total of 2.5 Million AERO tokens and 1% of daily farm rewards from the Proteo Team are allocated for farming rewards over the next 12 months. More information on the daily Proteo token issuance can be found HERE.

The total reward pool will be split evenly between the two types of AERO/PROTEO farms available on Proteo dApp, Standard and Elite. For more information regarding the benefits and requirements of each to be found HERE and HERE.

How does this benefit the Aero Ecosystem?

The AERO/PROTEO farms will provide AERO holders additional options to stake their tokens beyond the single reward option of the AERO Pool. This will increase project adoption and stability of the project through exposure to the Proteo Community and increased DEX Liquidity.

Updates to the Aero Pool

Once the AERO/PROTEO farms are live, as of now planned for the 30th of August 2022, the APR of AERO Pool will be updated to 15% with no other changes to the staking process planned at this point in time. We chose to lower the APR to 15% to stay in line with Elrond's emission schedule for validator staking (transaction fee) rewards.

Aerovek Aviation x Proteo Additional Utilities 

Along with the availability of the AERO/PROTEO dual reward farm, this new partnership will facilitate the launch of several services and campaigns dedicated to the Aerovek Aviation community on the Proteo platform.

Proteo NFT Marathon competitions - Rounds dedicated to each of our NFT collections, Aerovek Eagles and Dope Eagles. Starting in October this year, participants will have a week to enroll for the 6 month marathon, with no penalty withdrawal and with a reward pool that can be as high as $100K, with rounds dedicated to each of our NFT collections, Aerovek Aviators Eagles and Dope Eagles. 

All you need is at least one Aerovek Aviator or Dope Eagle, some $AERO, some $Proteo & you're good to go. Along with the required tokens, participants can use up to 2 NFTs per wallet in order to maximize their scoring.

Raffles buy-in with AERO – Raffles will be held once every 2 weeks and participants will be able to buy lottery tickets using Aero. There will be two types of raffles, Elite Raffles and Community Raffles, with prizes over $60K split between 10 winners. More information about Proteo Raffles can be found HERE.

Proteo Dual Loans with AERO as collateral – Starting in November, AERO holders will be able to access loans, with low liquidation risk and AERO tokens can be used as collateral. More information about Proteo Dual Loans can be found HERE.

In Closing

In conclusion, there are a lot of new exciting initiatives coming to the Aerovek Community with the Proteo partnership. Dual Farming rewards, NFT Marathons, and loans using your Aero Tokens are all huge leaps for the Aero community. We’re excited about this new partnership and look forward to welcoming all the new members of the Proteo community.

ATTENTION: This announcement is for information purposes only for Aero Foundation users. This is not investment advice or an endorsement by Aero Foundation as to the intrinsic value of any digital asset or service.

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