Our second community call marks another milestone for Paladin Protocol. We are chasing the momentum and have many things to talk about! Let’s dive in:
24 hours and 48 hours after mainnet launch, Paladin Protocol reached a TVL (total value locked) $10.6 +million and $12.5+ million, respectively.
TVL 24 hours after launch (Courtesy: Defi Llama).
As of today, the lending application has a TVL amounting to 11.4M$ of deposits. This could be divided across different pools as so:
6.3M$ on UNI
2.7M$ on COMP
2.2M$ on Aave
The team has been very happy with these numbers and it shows our proof-of-work in the protocol. We are in a critical time of the life of the protocol and have been working extremely hard to surgically steamroll our other dapps and ideas in development.
The “Summoning Period” for Paladin Protocol began the day of the mainnet launch, September 30th. We are now near the tail end of that period. Quick refresher: To build liquidity in the protocol, the team decided to opt out of revealing APY for Lending Pools.
Until now: https://www.youtube.com/watchv=Oyge3HRM8p8&ab_channel=PaladinProtocol
Another snapshot will be taken in two weeks.
Shiny and gold.
We are also excited to reveal the inner workings of our “Contributor Framework”. The team believes in rewarding genuine interest and contributions, whether they be social or technical, to the protocol. Pre and post mainnet we have had very interesting, thought provoking discussions with our Squires in our Discord. This is why we want to give them the opportunity to level up!
The level up system is simple: Accomplish certain tasks, send in a monthly form verifying completion of those tasks, and Squires will receive perks and bragging rights. (Remember Knight of the Week? That’s still in play too and we already named our first winner….a winner that received 100 DAI). Current ranks include: Squire, Wanderer, Warrior, Knight, Paladin. The last two will be the most interesting for our most dedicated server members but are still in the planning stages since they involve a certain level of Paladin DAOification. More to come on that in the future.
Yup. To show our appreciation for our oldest and most active supporters, they just received a limited edition Paladin Gundam NFT. This NFT was designed by Camille Broutin and she will be earning royalties on trades. We have been holding this NFT in reserve for months for a special occasion, now available for a few to own and all to see.
Design by Camille Broutin
During our second community call, we revealed our plans to add $IDLE and $INDEX tokens to our pools. We plan to add more in the future as we continue to create and foster partnerships between other protocols and their respective DAOs.
Finally, we are very happy to announce our second round of POAPs that are currently being distributed to attendees of our second community call. The first one was such a hit that server members were demanding for one! POAPs are relatively new and coveted (I’ll admit I’m a big fan of them myself). We will continue to reward our community call attendees with POAPs. One day, when Paladin reaches a TVL of $100M, looking back at claiming those first POAPs will be a sweet, sweet memory.
Until next time, Squires!