How hot is the new AC project? Night of the Blast Phantom Vampire War.

Do you remember the long curve of war? The agreement severely opposes the right to speak. Now "Curve War" has been cloned for Phantom Chain. Ever since YFI creator Andrew Cronje's phone call, all eyes have been on the new war that has erupted in Fantom - Vampire War.

Earlier this month, AC announced a "new version of the Curve" ve(3.3) and announced that ve(3.3) tokens will be distributed to the top 20 Phantom processors under TVL lock. - Promoting.

Many regulators have been working hard to improve TVL over the past few weeks, but the ve(3.3) battle has not received enough attention. But yesterday, veDAO suddenly appeared and lifted the TVL rating to #2 in one day. AC's TVL snapshot will be available on January 23rd. Rising skepticism of veDAO immediately led to more stressful "non-rolling" contracts and the formation of partnerships to recover TVL through veDAO.

With that, the battle for TVL burned down the entire Phantom ecosystem overnight, and is now a vampire-heavy war.

Attack veDAO: Sniper TVL

veDAO is a DAO created with educational resources, its goal is to involve only as many ve (3.3) as possible in the shortest possible time.

veDAO has no seeds around and no private space. 10% of all token kits will be distributed to Data Token DAO to support further development of veDAO, and 5% will be distributed to veDAO teams experiencing more signatures for further development and growth and ongoing operating costs of the process .

veDAO's strategy for fast TVL growth is: people can get WeVE, veDAO's management symbol, more than 4 weeks of farming income and mining investment, and WeVE hosts, i.e. members of DAO, can jointly manage five (3.3) subdivisions. Go. In other words, veDAO uses WeVE Token in exchange for USDC, WFTM and ETH users to increase TVL. Clearly, this idea met with great success. In a single day, veDAO hit $1.5 billion on TVL and is now #2.

KOLs like Shenyu were also involved.

contract counterattack

The increase in veDAO has led to the dissatisfaction of many "Phantom OGs" and the underlying process. On Twitter, ghost fan MOTH believes that veDAO is the only venture capitalist in the "Ethereum Antique Chain" that seeks to snipe and poach TVL on traditional processes that are not appropriate for the ghost ecosystem.

What's interesting is that not only Phantom Maniacs, but many procedures were processed quickly. Five major FTM protocols, SpookySwap, Scream, Liquid Driver, Cash and RevenantFinance, immediately created 0xDAO for TVL recovery. Their reason is simple. The Phantom Native Project has long been dedicated to supporting TVL and is unlikely to fall for TVL's poachers in a day.

0xDAO adopts a similar concept as veDAO, but more like all OXD tokens are distributed to LP providers. 0xDAO hopes to attract revenue to veDAO this way. The decision power of 0xDAO is 100% available to the community and OXD holders can participate in the decision to sell 5 (3.3) airdrops or pay dividends to hold OXD.

However, 0xDAO does not want to be an organization. Its goal is to create a free market for the process developed by Fantom to increase revenue by providing total distribution that results in 0xDAO profitability, investment and voting rights. The team is optimistic that if the 0xDAO fund gets more voting rights, other procedures purposely use ve(3.3) to build capacity and bribe OXD holders.

fire fighters

The vampire war between veDAO and 0xDAO quickly gained more and more attention. And for some rules, it's a no-brainer. The following fighters added fuel to the fire:

grape bottoms

Inspired by Convex, Grapes Finance will be Fantom's new Convex aggregating five (3.3) NFTs by other companies.

Pre-closing ve(3.3) projects in the GRAPESEED process will become Grapes Finance's joint venture partner for up to 15% of the process. The pre-lock process (3.3) receives GRP tokens used to manage Grapes Finance, contract farming or provide feeds and other items to users. The process can be autonomous ve (3.3) by returning a GRP token.

Grapes Finance will also offer a 1% reward and a 3% reward to Convex for community programs participating in the GRAPSEED program to support more participants.

radial finance

Radial is also written as a convex type protocol. Auto-locking veTokens interrupts interest rates, allowing LPs to earn greater value without having to lock their own tokens. In addition to optimizing the oil and ve (3.3) delivery system, the process also seeks to store a variety of veTokens and a combination of LP and DAO.

Confuses

Verward is much interesting. It is a similar job as Vedao and 0xDao, but if the process is complete, the user can get to 3, 3, and we tokens in the shortest time.

The process believes that the problem with veDAO and 0xDAO is that the cycle provides insufficient tokens in the medium. Taking veDAO as an example, the release cycle is about 28 days, which means people need to participate for 28 days to get 100% of the ve(3.3) rate allocated to DAO. However, TVLs benefiting post-snapshot users are wasted by default because post-snapshot TVLs do not affect the ve(3,3) distribution.

VEREWARD release time begins when the process starts and ends after a snapshot by Brother AC. This means that users only need to participate for at least 2 days to fully experience their TVL benefits.

The reason why veRwards can set a short issue is that it is a temporary DAO only to help users earn as many ve (3,3) tokens as possible. When ve(3.3) obtained by DAO was distributed to all users, the organization was disbanded.

What is the next?

This time the war was in full swing. Many investments in TVL projects are supported by everyone from KOL to ordinary investors, from simple processes to new DAO organizations. Most of the procedures above were written by TVL before they even took the exam. In the Discord project, many participants don't even know what ve(3,3) is, and the procedure they're participating in is just one word: maj.

Now, no one seems to anticipate what will happen after the snapshot and the risks involved. This vampire night battle has supported the Phantom process and users from top to bottom. For a snapshot a few days later, the entire Phantom ecosystem went wild. Will the Dark Horse appear in the next few days? Will the contract be terminated once the research is completed? Let's wait.