Trinity has been live now for almost a week and our team has been working hard behind the scenes on our vision of creating a fully decentralized liquidity web that creates value for liquidity providers and holders.
Here’s a recap of everything we accomplished this past week, as well as our plans for future development:
Contribute Partnership Results: Big Boost For TRIB’s Liquidity and Trade Volume
Our first partnership with Contribute (TRIB) was a huge success. Our initial goal with the partnership was to validate Trinity’s Proof of Liquidity protocol to see if it could help generate liquidity and trading volume for projects in need of a boost.
Since we set TRIB-TRI as the target pool, trade volume for that pool has increased significantly, as well as the liquidity (reaching a peak of $40k of liquidity in just 2 days from ~$10k starting).
This validates Trinity’s PoL mechanism, and creates a strong case study we can use to secure future partnerships with other DeFi projects.
Now, the target pool has been set back to the original TRI-ETH pair to start building liquidity on our home pool again.
This means all trades occurring on the TRI-TRIB pool will still continue to generate rewards and liquidity for Trinity holders and LPs.
Again, the ultimate vision of Trinity is to have 100+ of these partner pools all working together to create continual yield for TRI holders.
Value DeFi Partnership: Liquidity Mining Coming Soon
In the last week, we announced our second strategic partnership with Value DeFi. We are working with Value to create farming pools on their platform, where you’ll be able to farm TRI by providing liquidity for TRI-VALUE along with other TRI pairs.
This liquidity mining incentive will attract yield farmers on the Value platform and provide Trinity with volume and liquidity boosts.
When is this pool launching? We are waiting for Value to fully integrate our token pairing and migrate to their new platform. The process has already started, and as soon as it’s close to being finished, we will post another announcement on how to participate.
Marketing Updates — Quotidian Marketing
Last week, we signed on Quotidian Marketing, an agency that specializes in marketing for cryptocurrency projects. A few of their notable clients include Chainlink, VOX Finance and Aragon.
We launched a premium influencer campaign with Quotidian to bring more eyeballs on Trinity in the upcoming weeks and months.
Governance Updates — Voting And Proposals Are Now Live!
Our vision from the beginning was to give governance and control of the Trinity protocol to the community, rather than always be the key decision makers with regards to the protocol’s key parameters.
There are many parameters that can be tweaked such as:
- Auto liquidity fee (currently set at 1%)
- Passive rewards fee (currently set at 1%)
- Whitelisted pool (current TRI-ETH)
- Alchemize liquidity removal percentage (currently 2%)
- Autoswap and Alchemize rewards
- Blacklisted wallets for passive yields
- And so on..
We have not tweaked many of these parameters since launch so as to not break anything, but now that the protocol has been proven to be stable and the use cases have been validated, we want to start rolling out phase 1 of the governance plan.
- Phase 1: Decentralized voting where holders can propose new parameters but contract owner needs to change the parameters manually
- Phase 2: Decentralized voting and governance where votes will automatically change contract parameters. We plan to fork Compound’s Governor Alpha’s decentralized voting system during phase 2.
Right now, anyone can start creating and voting on proposals to change these parameters on our voting page: https://snapshot.page/#/trinityprotocol.eth
For now, anyone holding any amount of $TRI can create and vote on proposals in order to test the system and get the ball rolling. In the future, proposal creation permission will only be granted to those holding 1% or more of the total $TRI supply.
Inner Tribe Governance Group
In conjunction with our governance phase 1 roll out, we’ve created an exclusive Telegram group for holders of 25,000 $TRI or more called the “Inner Tribe”.
This is a tight knit group of $TRI holders who want to see the project succeed, and are willing to contribute their ideas, network and skill sets in order to help the protocol grow.
The Telegram group is managed by Collabland bot and will automatically check your $TRI holdings to make sure you hold the requirements.
Click here to join the Inner Tribe group: https://telegram.me/collablandbot?start=reclvL99AX9G7VWpM_-tpc
That’s all the updates we have for now. Stay tuned next week for more updates and announcements.
Trinity Website: https://www.trinityprotocol.io
Inner Tribe Telegram Group: https://telegram.me/collablandbot?start=reclvL99AX9G7VWpM_-tpc