Zhenglong Protocol Launches Landing Page, Announces IDO and Airdrop Plans

🎯 BAO's Next Evolution Revealed

By Wrapped Finance
May 5, 2025, 3:46 PM
twitter

Zhenglong Protocol has officially launched its landing page following BAO community approval.​ The protocol enables creation of tokens pegged to real-world data feeds.​

Key upcoming releases:

  • Documentation and litepaper
  • IDO details
  • $BAO token airdrop specifics for Panda and Polly holders

The protocol represents BAO's evolution into meta-governance:

  • veBAO holders will influence Zhenglong via locked veSTEAM
  • Protocol introduces Stability Pools with auto-rebalancing
  • STEAM token serves as governance mechanism

Visit: Zhenglong Protocol

Sources
Read more about Wrapped Finance

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

Bao Community Launches Friendly Fork Under Zhenglong Fi

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](https://snapshot.org/#/baovotes.eth/proposal/0x16badd39a20c29804821364d032f07d22c4e80533d9038380b260d239e6e0148)

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.

GovernanceDeFiLayer 2StakingYield