New Stage of Cyclone Protocol — Leaps in IoTeX！
With the vigorous development of IoTeX, the projects on the IoTeX chain are showing an explosive growth trend. Cyclone has achieved partnerships with many projects on IoTeX, ZoomSwap, Blade, etc. In the next phase, Cyclone will focus on cooperating with high-quality projects on IoTeX and Binance Smart Chain to create a more valuable DeFi ecosystem.
Since the launch of Cyclone, users have actively participated in our DAO governance. Up to now, 13 governance proposals have been issued and all passed. In the past ten months, IoTeX has been growing impulsively, gaining many more Cyclone users and a large number of high-quality ecosystem projects. According to the result of Proposal №13, we have migrated Cyclone governance from Binance Smart Chain to IoTeX to directly support IoTeX users.
Essentially, https://snapshot.org/#/realcycloneprotocol.eth will take a snapshot of the user’s CYC on the IoTeX network to vote on the proposal.
In the new stage, liquidity mining rewards for Ethereum and Polygon is reduced, and transferred to IoTeX and BSC to support more high-quality projects.
The reduction will be implemented after the expiration of Ethereum and Polygon pools. As Proposal No.13, the liquidity reward of Ethereum has been reduced from 20 CYC per day to 5 CYC per day.
After completing Proposal No.13, Cyclone plans to increase IoTeX Liquidity Pool reward according to Proposal No.14-from 20 CYC per day to 40 CYC per day, in order to attract more users to enter and focus on Cyclone ecosystem on IoTeX.
With FilDA launch on IoTeX, Cyclone has also developed an in-depth partnership with FilDA. Proposal No.14 plans to add a new Anonymity Pool after the expiration of this round of IoTeX Anonymity/Liquidity pool, the pool details are as follows:
IoTeX — Pool FilDA
Asset: 200 FILDA
Life Cycle: 90 days
Anonymity Mining v2: 0.05 CYC per day
Coin Denomination: 100 IOTX
Anonymity Fee: 0.02 CYC
Relayer Fee: 1 IOTX
Proposal No.13 — https://snapshot.org/#/realcycloneprotocol.eth/proposal/0xb3970b4156107a52e1ffa7bded71b4b55ce1cc9a6305ae10f73819d9446d9d15
Proposal No.14 — https://snapshot.org/#/realcycloneprotocol.eth/proposal/0x9c5be71f63471ab0297dccbcebae92abcf89f1a8c55eb9d1c24d900587859167
Cyclone Protocol is a cross-chain, non-custodial, universal privacy-preserving protocol for DeFi with decentralized governance which started in 2021. Cyclone applies zkSNARKs to enable transactional privacy for all DeFi components by breaking the on-chain link between depositor and recipient addresses. Cyclone Protocol is committed to creating the world’s first fully privacy-protected Money Market.
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