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Winter Is Coming
It’s an exciting time to be in the Blizzard. We have so many updates and new features from our recent AMA with the team. We can’t wait to talk about the exciting implications of all this new stuff, so let’s jump right in!
TL;DR:
SnowBank Version 2 is coming in just a few weeks.
SnowBank Version 2 yield buys GALE and Tempest, a new GALE-like token that is backed by xBLZD-BUSD LP.
SnowBank Version 2 will put millions of dollars in buying pressure on xBLZD.
xBLZD emissions are being reduced to just 0.5 per block. This is under half of the starting emissions.
Non-native SnowBanks will not have xBLZD emissions.
SnowBank Version 2 will have exponentially more vaults than Version 1. New vaults will be added weekly chosen by community vote. 1000%+ APR degen SnowBanks anyone?
There will be a xBLZD-BUSD SnowBank at launch that yields 100% Tempest.
The xBLZD-BNB CAKE-LP farm is being retired. Emissions will stop on this as SnowBank Version 2 goes live. These emissions will be redirected to the xBLZD-BUSD SnowBank and xBLZD Single Staking farm. This will further stop negative price action on xBLZD.
Tempest may have a use-case in staking for tickets that enter you into raffles for NFTs. These NFTs may be used in a “play to earn” style game, or enter you into the loss-less lottery. More details to come.
The ongoing xBLZD dividend staking pool will launch once TUSK staking has completed. More SnowBanks means more dividend. Stake xBLZD, earn BUSD. Use-case delivered!
Polygon expansion put on the back-burner as outcomes have not been ideal for other BSC projects expanding to that network. We are focusing on delivering more innovative products on BSC first.
If you haven’t vibrated out of existence from your bullish Yeti excitement, keep reading for the full details about these exciting announcements!
The SnowBank Cometh (Again!)
When we first launched SnowBank, it sent waves through the BSC ecosystem. It was an innovative way to yield farm that provided real appreciating value in the form of ibBNB and our GALE token. We further innovated this by adding xBLZD emissions and offering options that compounded your LP. Farming in the SnowBank simply became a better way to yield.
We don’t stop with just one success. The Yetis have been working hard to bring you further innovation. We are improving upon what works, and ditching what doesn’t. Introducing SnowBank Version 2.
Further Innovation You Say?
One thing we learned with the original SnowBanks is that the community loves the power of GALE. It’s a token that has appreciated 8000% in price, provides a rising price floor, and generates interest for it’s holders. What more could you ask for?
Enter Tempest. Half of the SnowBanks yield will still be used to purchase GALE, but the other half will buy this new GALE-like token. Tempest is backed by xBLZD-BUSD LP instead of just BUSD. This means that some of the yield is not only sold to buy BUSD, but it also directly buys xBLZD.
Each SnowBank V2 will be selling yields and in part buying xBLZD. If that wasn’t enough to send your Yeti brain into a bullish overdrive, we’re also removing the xBLZD emissions from the SnowBanks, and reducing emissions overall to 0.5 per block.
After a lot of discussion with the community and team, we’ve also decided that the time has come to retire xBLZD-BNB LP emissions. We’ll be phasing this out by removing emissions from the pool with the release of SnowBanks Version 2. This is part of our ongoing commitment to take small steps to mitigate damage from negative arbitrage and other bad actors that are harming the price.
Note: The xBLZD-BNB JetSwap LP farm will remain.
The SnowBank Version 2 will also feature xBLZD-BUSD vault from day one. These vaults will pay out entirely in the new GALE-like token, Tempest.
Wait, My Brain Can’t Keep Up!
Don’t worry dear reader, we’re here to break this all down. One of the reasons that we didn’t expand SnowBanks to 100s of vaults is because of the xBLZD emissions. If we give each vault an emissions multiplier, it means some less-used low TVL vaults could provide way too much (or too little!) xBLZD. This would have been incredibly tough to get right and balance.
But now the gloves are off. We can start producing tons of SnowBanks for every blue-chip and degen-minded Yeti out there. But we don’t want to hog all the fun. We’ll be reaching out to the community and voting on new pools to add each week! If you enjoyed voting on Blizzard pools, now is your chance to get involved and help us pump out some really interesting vaults.
Blizzard Pools You Say…
One feature we have been excited to launch is our xBLZD dividend pool. Finally, the discussion of use-case can be put to rest. xBLZD will earn BUSD through the performance fees from SnowBanks, and future platform features. This will go live when TUSK staking is over.
This will be a persistent stake xBLZD earn BUSD pool. We expect the APR to start out around 20-30% but grow over time as more SnowBanks are released. This means more performance fees for the dividend, more xBLZD buying pressure, and more liquidity created.
But What Next? Feed Me Seymour!
As if a new GALE-like token and SnowBanks Version 2 would be enough to sate our Yeti appetites. We have been working behind the scenes and observing the market to establish whether NFT “Play To Earn” games are a fad, or here to stay. We are already hard at work figuring out what a Blizzard themed game would look like should the market and community agree.
We’ve been asked about use-case for GALE, so if we do decide to move forward with a game, the new GALE-like Tempest token will definitely be future-proofed to include some mechanisms to earn. Ideas such as staking to earn tickets, which enter you into a loss-less lotto, or perhaps a raffle for NFTs. The possibilities are truly endless here, and rest assured that we have our ears to the ground ready to strike when the time is right.
Polygon Update
Speaking of trends, we’ve been carefully observing other BSC projects and their outcomes from Polygon expansions. We’re not satisfied that this would be a good move for our project and community at this point. We’ve seen other projects tank after their expansion, and no real value has been added from this. Currently this is on the backburner as we build up the BSC side and make sure xBLZD has all the love and support it needs to thrive.
Should anything change, the community will be the first to know.
Wrapping Up
New SnowBanks Version 2 puts buying pressure on xBLZD. The removal of BNB LP means no more negative pressure from arbitrage. Emissions Reduction means less xBLZD can be sold. New GALE-like token builds LP, insulating us from price depreciation. xBLZD dividend pool is coming right after TUSK staking and provides a real use case. Are you feeling it yet? That’s the bullish sentiment we’ve been bottling up and so happy to finally share.
