Angular Finance Leverages Composable Lab’s Incentive Program
Composable Labs — the incubation and testing arm of Composable Finance — is a hub for creating some of the most promising projects contributing to the interoperability of DeFi. Angular Finance, a joint venture between HydraDX and Composable Finance, is set to leverage our existing vault strategies to generate traction and distribute its native tokens — ANGL.
Built in the Kusama ecosystem, Angular Finance is an isolated lending pair pallet that allows users to pool any two assets. One of the assets serves as collateral to the other. Although similar to popular pool-based lending platforms such as Aave, Angular distinguishes itself with its risk isolation functionality, allowing users to risk the assets in the pool they are participating in instead of the entire platform. With Angular being a Substrate-based pallet, developers can leverage Angular in their dApps and protocols to utilise its advanced security and functionality and native cross-chain communication capabilities.
Composable’s Vault Strategies
As mentioned in our previous communications, due to the fact Composable has built an extended user base across multiple ecosystems, it has aligned with Composable Labs projects to be able to leverage our existing strategies to propel traction and create an initial token holder base, ahead of their own respective product launches.
After a successful program with the Instrumental Finance team, our latest incubation, Angular Finance is taking on this opportunity to distribute a portion of its token supply to stakers in the Composable vault strategies.
Angular’s incentivization program:
With support from Composable’s community, Angular Finance is excited to begin incentivising the vaults starting at 13.00pm CET on December 6, 2021.
Below are details of the incentivization program:
- Angular Finance’s total token supply is 100m tokens, with an initial FDV of $25m
- The program will run for eight weeks, during which time 5% of ANGL tokens will be distributed.
- During the first 7 days, 3,250,000 tokens will be distributed. The following week will see the distribution of 1,500,000 tokens, and the remaining duration of the program will see 250,000 tokes distributed.
- Although there are no existing plans to extend the program beyond this duration, the Angular team will relay necessary information if required.
How it works
While existing stakers will only need to maintain their stake in the vault to earn Angular’s ANGL token, new stakers will start earning rewards after 13.00 CET. All stakers will be able to view their APY transparently.
With Composable Finance fostering interoperability across DeFi, we will continue to devise strategies to help build the face of DeFi’s future. We look forward to seeing how Angular Finance is leveraged by developers and how revolutionary their dApps can become.
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