Week 2 of Beluga’s weekly updates and Beluga’s latest news!
It has officially been a week since our first update! It is surprising how fast time can fly by!
Since our last update, we have been constantly building and are excited to deliver more of our pipeline! Here are some of the latest updates of Beluga from the past week, alongside what is coming this week!
Profitshare Launch
Last week we have launched our profitshare onto Fantom which allows you to stake your Coral Symphony LP tokens (80% BELUGA 20% wFTM) and earn wFTM rewards from our cashflow!
This is our first step towards establishing a usage for the BELUGA token, alongside establishing liquidity incentives for the token.
Protocol Owned Liquidity
Shortly after our Fantom profitshare launch, we held a community poll on the introduction of an early exit penalty for our profitshare with the goal to enhance profitability for profitshare stakers even further and establish protocol owned liquidity.
This proposal was met with relatively positive sentiment, and as of yesterday, we have enabled the exit penalty on the vault, meaning, any early withdrawals will now earn Coral Symphony LP tokens for existing stakers AND establish protocol liquidity!
MIM3pool Maximizer 🐸
Last week we unveiled a new vault that further enhances Beluga’s maximizer design to allow MIM LPs on Curve to earn the best yields on their MIM3pool LP tokens.
With this maximizer vault, you accumulate Magic Touch Maximizer vault tokens which is a maximizer within itself that rewards you with bBEETS-FTM-LP tokens!
That means that through our new MIM3pool maximizer vault, you are accumulating Magic Touch LPs (ICE, wMEMO, SPELL, MIM) which is earning you autocompounding BEETS-FTM LP tokens!
New Vaults
Our next vaults are currently in the works and we are excited to unveil them this week! Stay tuned for more! 😉
This has been our latest updates from Week 2, alongside our latest upcoming releases!
If you have any questions, or would like to tune in for more Beluga announcements, we recommend that you join our Discord server here: https://discord.gg/BNn6M2qR8u
Till next time Beluga Pod!
