Bao Community Launches Friendly Fork Under Zhenglong Fi
Bao Community Launches Friendly Fork Under Zhenglong Fi
🍜 Fork Gets Cozy
The Bao Community is proceeding with its friendly fork implementation under Zhenglong Fi, with audits scheduled to commence. This development follows the successful approval of the Friendly Fork Proposal between f(x) Protocol and Bao Finance by the f(x) Protocol community.
The proposal was previously put to vote on Snapshot, marking a significant step in the collaboration between these protocols.
- Audits begin tomorrow
- Community approval secured
- Implementation phase starting
For more details on the governance vote, visit Snapshot
Thanks for the shoutout :) @BaoCommunity is launching the friendly fork under @ZhenglongFi Audits begin tomorrow!
x.com/i/article/1939…
Tokenomics Design Debate: Buybacks vs Ve-tokenomics
A significant debate is emerging in the DeFi space regarding tokenomics design approaches. The discussion centers on two main mechanisms: - **Buybacks**: Traditional method of value accrual through token repurchasing - **Ve-tokenomics**: Vote-escrow model popularized by Curve Finance The debate highlights the evolving nature of DeFi token design and its impact on protocol sustainability. Recent analysis suggests ve-tokenomics may offer advantages for capital efficiency and long-term protocol alignment. *Key considerations include:* - Protocol revenue distribution - Token holder incentives - Long-term sustainability - Governance participation
Zhenglong Announces $STEAM Token Sale for Community Members
Zhenglong has launched a discounted $STEAM token sale running from June 18-23. The sale is exclusively available to specific token holders: - veBAO holders - veFXN holders - $cvxFXN (Convex Finance) holders - $sdFXN (StakeDAO) holders **veBAO holders benefits include:** - Access to discounted $STEAM sale - Ongoing $STEAM airdrops - Share of Zhenglong revenue **veFXN holders receive:** - Similar perks to veBAO - Access to Protocol FX features *Note: Protocol FX has been consistently breaking TVL ATHs*
veBAO Locking Metrics Show Significant Growth Post-Airdrop
The veBAO ecosystem has seen substantial growth following the recent airdrop campaign: - veBAO holdings increased from 102M to 243M (141M increase in one month) - Locked BAO jumped from 220M to 423M - Currently 64% of circulating BaoV2 (660M) is locked Key upcoming events: - Zhenglong IDO eligibility snapshot completed June 15 - Private Sale opening soon for veBAO holders - Public IDO scheduled later this month Benefits for veBAO holders: - Access to discounted $STEAM - Continuous $STEAM airdrops - Share of Zhenglong protocol revenue - Governance rights in both ecosystems
Zhenglong Community Sale Announcement - June 18-23
Zhenglong announces exclusive community sale running June 18-23. Eligibility requirements: - veBAO holders receive: • Access to discounted $STEAM sale • Ongoing $STEAM airdrops • Share of Zhenglong revenue - veFXN, cvxFXN, and sdFXN holders get equivalent benefits *Key Note*: Just $40 worth of BAO tokens (100k BAO) locked for 4 years can secure approximately $2k allocation. Protocol FX continues to break TVL ATHs daily. Eligibility checks update daily.