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Accumulating Governance Power in Ethereum-based Protocols.
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PowerPool aims to allow token holders to lend, pool, and borrow Governance Tokens (GTs), which are tokens granting holders governance voting rights for their respective protocols. PowerPool's mission is to accumulate governance power in Ethereum-based protocols.
CVP is the native governance token of PowerPool and is used for the following:
Voting in platform governance (changes in supported liquidity pools, collateral types, liquidity mining rewards allocation, etc.).
Voting for how pooled GTs will vote for every governance decision amongst the supported protocols.
The PowerPool protocol consists of the following components working in conjunction:
Power Index: a community-governed Decentralized Finance (DeFi) index using pooled tokens for meta-governance and fund-management strategies. The Power Index Pool Token (PIPT) is a token representing a share of the index.
Power Oracle: a decentralized cross-chain price oracle, using Uniswap V2 as a primary data source of Time-Weighted Average Prices (TWAPs). The Power Oracle allows token holders to stake CVP, request and record data from the oracle, and earn CVP rewards in return.
The CVP token had no pre-mine or token sale and is distributed to users via liquidity mining. The token has a total supply of 100,000,000, with 15% mined before mainnet launch and the remaining 85% to be mined afterward.