What You Should Know About Concentrator by Aladdin DAO
Concentrator is arguably the most innovative DeFi project on Ethereum. It expands the Curve/Convex ecosystem by helping Convex farmers earn UP TO 50% more with less hassle and gas fees.
A brief overview on Concentrator & why its a goldmine
In simple terms, Concentrator is an innovative auto-compounding vault system that enables farmers to concentrate yields from multiple Convex vaults into cvxCRV. It leverages auto-compounding to grow these returns.
Most auto-compounders in DeFi are based on the Farm and Dump Principle, where users immediately dump their rewards after earnings. However, Concentrator is leveraging Farm and Hold, by which users hold their rewards, and the system helps them get better returns.
Concentrator recently broke $100M in TVL growth, and its also ranked among the top protocols on #Ethereum.
Here’s how it works!
Farmers deposit their CRV LP tokens in Concentrator, and these tokens will be staked in Convex Pools. Then, yields are harvested & swapped into CRV and staked on behalf of the farmer in a suitable CRV vault where it’ll auto-compound.
Farmers can withdraw their rewards at will. Although, there are withdrawal fees attached. The withdrawal fees are dependent on the vaults. It is worth noting that these fees go to other pool depositors, not the platform.
Initial Farm Offerings (IFO)
IFO is a new way to decentralize ownership of Concentrator and raise funds for their treasury. They are raising 2.5m aCRV for 50% of the FDV token allocation. The returns will revert to regular once they hit the goal.
Users can participate by depositing Curve LP tokens into Concentrator’s IFO. Also, users can withdraw their cvxCRV, and zap it into the cvxCRV/CRV vault. Note that everybody gets 1CTR for 1 aCRV, despite the size of the deposit. It’s a fair opportunity for all.
Tokenomics TDLR
There’s a total supply of 5M CTR tokens,of which 50% is reserved for IFO Vaults and distributed to farmers. While 3% will be airdropped, and 3% will go to Balancer Liquidity Mining.
Get started with the IFO here
