We just launched AladdinDAO Boule Plus and here is how it works
The idea to launch Boule Plus didn’t come out of a whim.
In fact, we didn’t plan to launch Boule Plus until we saw a flood of applicants to join the original Boule Council.
Then it struck us how important it is to involve as many community members as possible in our DeFi experiment, rather than dogmatically adhering to the original design.
That’s not to say that our original vision of “Farm with Big Brains” has changed. Instead, we added Boule Plus to invite more community members to contribute and share AladdinDAO’s success.
In Brief, AladdinDAO has:
- Boule Council who vote through ALDVOTE: the original Big Brains who have majority voting power in determining which assets to provide liquidity against
- Boule Plus who vote through ALDPLUS: Community members who have minority voting power and have priority pass to participate in the next Boule Council election
How to join Boule Plus?
1. complete application form with as much info as possible
2. 60+ Quiz score
3. verification of Twitter account
4. stake 5000 ALD
Now, what the heck is ALDPLUS?
The ALDPLUS token represents the voting and reward rights of Boule Plus members. In order to receive rewards, Boule Plus members need to hold the ALDPLUS token at the time of reward settlement for each epoch.
How does ALDPLUS interact in the AladdinDAO ecosystem?
Let’s go back to fixed income 101, any bond contains three basic elements, namely Face Value, Coupon Rate and Maturity.
- Stake 5,000 ALD to get ALDPLUS
- You can always unstake to get your ALD back ( *Please keep in mind that by unstaking, you may lose your future voting rewards)
- Cast your vote on Snapshot (Vote yes on pools that you think will outperform; Vote no on pools that you think will underperform)
- 4 votes per month
- Voters who upvote an outperforming pool could share 2% of DAO mining rewards
- Voters who downvote an underperforming pool could share 2% of DAO mining rewards
- There’s no loss associated with voting incorrectly
Or we can put it in a more classic way.
Boule Plus (ALDPLUS holders) voting is roughly the same as Boule, with the following differences
Boule Plus is AladdinDAO’s attempt to be as inclusive as possible. We believe that the essence of this experiment is to get the community involved, without impacting our original thesis.
In a nutshell, ALDPLUS is a token that generates floating bond yield to prove community member’s brain power. The higher the brain power, the higher APY can be achieved.