In the decentralized industry, many have suffered significant losses through immature investor drop-outs that harm a project’s value. Project start-ups are losing credibility as a result of wavering partners and investors. For this reason, POP created a brand to create meaningful and long-term partnerships for new and existing projects.
What is POP?
POP is among the latest innovations in the blockchain community. It seeks to solve the issues of partnerships among projects. Among the challenges that projects face are.
- Determining the impact of a partnership
- Determining the seriousness and dedication of partners within the partnership
Through its platform, POP aims to push its values, ensuring that all partners meet their obligations to mutually benefit each other in the partnership. POP plans to achieve this through Proof of Partnership (POP).
POP allows projects to prove their commitment by locking their respective tokens in a mutual liquidity pool (MLP) for their communities. Users of POP and these communities can then provide liquidity and earn from liquidity mining, with potential losses being averted through a rebalancing mechanism.
POP Values
POP has an intrinsic set of values necessary for the advancement and development of the decentralized market. The platform believes in the following:
1. Genuine partnership
Successful projects have enough support from stakeholders in the blockchain industry. One of the most crucial forms of support is through partnerships. Partnering with complementary projects leads to mutual benefits that help the entire industry to grow.
Through its platform, POP is aiming for mutual access between partnering projects. Their services are built in such a manner that partnering projects work together for their mutual success.
2. Fairness
POP believes in inequality. Every user of the POP platform will have an equal opportunity of earning from the platform and enjoying the benefits of the platform. POP’s fairness is exemplified in their token launch strategy. It has no plans for a token sale; however, it plans to distribute 80% of its token sales through farming and voting. This gives every user of the platform an equal chance of earning POP tokens.
The project is not oblivious to the fact that losses do occur in any business setup. There is a possibility that value may be lost especially for projects that are still in their infancy. POP may not be able to entirely protect you from all losses such as impermanent loss (IL), but it is working on significantly limiting loss for its users if it ever occurs.
3. Connecting communities
Unnecessary competition can result in the death of innovative projects. For this reason, POP is set up to enhance communication between projects on its platform. It champions the sharing of knowledge through its standard platform. Projects that are partnering can engage each other and learn from their success and challenges through POP.
4. True decentralization
The project believes in the goal of blockchain technology, true decentralization. Thus, with POP, all funds operating in its ecosystem will be purely smart contract-based and will never enter a centralized form of custody. Its governance system will initially involve a smart contract token holder, but the platform is preparing for the DAO as the long-term governance solution.
With its core values, you can already anticipate a project designed for true decentralization. POP’s values are user-centered to protect liquidity mining that is fast becoming a user favorite.
How POP works to remain true to its principles
The following is a step-by-step guide:
- Projects that want to show their commitment to their partnerships start by using the POP platform.
- Once approved, each project contributes its LP tokens to an MLP. The tokens are locked up for a set period.
- When the MLP goes live, farming partnerships by token holders of these projects can be initiated through the POP marketplace.
- Farmers exiting the LP will earn POP tokens based on their farming practices. In IL’s case, POP will run a rebalancing mechanism to partially shield the farmer from the loss.
POP has a vision and a clear path to achieving that vision to make the decentralized experience more satisfying for you. Visit their website today to learn more about POP and its upcoming plans.
