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Waves DaoExecuted

Whirlpool Funding Proposal 1.1

Summary

Dear Waves DAO,

Following the successful launch of BURN-XTN, emphasizing token price growth and supporting the community, I launched a new project: Whirlpool. This project will feature distinct dynamics, centering on managed funds generating passive yield through DeFi protocols.

What is Whirlpool?

Whirlpool simplifies passive income by managing yield farming and investments, offering high yields on the Waves blockchain. Simply supply liquidity to the WHIRLPOOL AMM and start earning passive income.

Why Whirlpool?

Choose Whirlpool to make money effortlessly from yield farming and trading profits. No more need for reading complex documents and constant monitoring. Benefit from strong price support and increasing yields.

Tokenomics

Starting Supply and Issuance: The initial supply was zero, WHIRLPOOL tokens can be generated through a smart contract by paying WAVES. If the market price is below the issue price, the smart contract purchases WHIRLPOOL from the market instead of issuing new tokens.

Treasury: All WAVES received go to the treasury and are invested in various DeFi protocols.

Profit Distribution:

  • 20% are reinvested in other DeFi investments, growing the treasury.

  • 80% is distributed in WAVES: -- 80% to WHIRLPOOL liquidity providers. -- 20% for operational expenses.

    When profit yield is below WAVES staking yield, then 80% distributed in WAVES: -- 100% to WHIRLPOOL liquidity providers. -- 0% for operational expenses.

Buyback Mechanism: If WHIRLPOOL market price is 50% below the total treasury value, buybacks will be done by investing in Whirlpool AMM.

Project Stats

Launched at 15th September 2023, stats from 29th November: Total 5641 WAVES received for issuing 5637 WHIRLPOOL tokens, including 3000 WAVES invested by myself. Total treasury value in WAVES: 5778 Total profit distributed in WAVES: 99 ROI distributions: 1.75%

Starting issue price: 1 WAVES Current issue price: 1.0259 WAVES NAV increase: 2.59% Current market price: 1.0779 WAVES

Total ROI = ROI distributions + NAV: 4.34% in 2,5 months. Yearly ROI: 20.83%

Project Owner Personal Funding Stats

Total 4600 WAVES and $1000 in other crypto assets. Personal profit taken from BURN-XTN and WHIRLPOOL: 0

Lean Project

No running costs (Not counting blockchain fees). No need to withdraw funds.

Crypto Mission

Dedicated to spearheading projects with superior tokenomics, where the primary objective is the consistent enhancement of token value.

Roadmap

  • List on Wavescap.
  • Expand availability of WHIRLPOOL in other liquidity pools.
  • Part of treasury fund for NFT series project.
  • Extra utility for holding WHIRLPOOL tokens, for BURN-XTN lottery.

For more details check the litepaper: https://www.burnxtn.tech/whirlpool/litepaper Source code smart contract: https://github.com/Blahdieblah/WHIRLPOOL/tree/main

Funding Proposal

5000 WAVES lump sum, converted to Whirlpool LP tokens consisting of 90% WHIRLPOOL and 10% WAVES. Funds returned to Waves DAO within a day. Expected performance 20% yearly ROI in WAVES (4-5 times WAVES staking yield). Whirlpool will invests all WAVES in DeFi protocols on Waves blockchain, benefitting those protocols.

There were 3 main concerns with the first proposal:

  • Uncapped funding proposal: addressed by single lump sum investment.
  • Not 'bus proof':
    • First in line is my wife.
    • 2nd backup: dApp verifier function allows access to wallet after 30 days of inactivity, public key is my son's.
    • 3rd backup: after 90 days of inactivity, public key of Puzzlemaster gets access, controlled by Vladimir and Ania from Puzzleswap.
  • Project was not clear enough: rewritten all texts of proposal and website, improved and simpler.

Appreciate your support, Ivan

Transfer transaction preview
Transaction ID
A5jXmxu5LfkgHLTCdmCCq6oZEKPzo7WAuNYY9MTqTSqK
Sender address
3PEwRcYNAUtoFvKpBhKoiwajnZfdoDR6h4hPublic key: GDPfYHA6NUZCmin3J7LWZhCvSjBcna8HebyvQyrw17v
Recipient address
3P6H24XKLyRX8RKwyA5ARsChE6WhjDcVBiZ
Amount
5 000 WAVES
Blockchain fee
0.09 WAVES
Execution time
6 Dec 2023 07:00Broadcast 06:00 - 08:00

Important Notice

When voting, you are approving the transaction below to be broadcast on-chain. Please verify that the transaction payload matches the proposal description. It is not possible to automatically validate the relationship between the proposal text and the transaction data. Always do your own research (DYOR) before voting.

Raw transaction data

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  "assetId": null,
  "recipient": "3P6H24XKLyRX8RKwyA5ARsChE6WhjDcVBiZ",
  "amount": 500000000000,
  "attachment": "",
  "fee": 9000000,
  "feeAssetId": null,
  "timestamp": 1701846000000,
  "proofs": [],
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