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Warp V2: Additional Features Rollout Plan

As we rollout Warp V2 this month, we look forward to our community exploring the latest features that we are initially introducing as outlined in our launch post. These initial features are only the beginning of the Blacksmith update, as we are keen to continue integrating new functionalities to help our community unlock further capabilities. Phase II of our feature(s) rollout will include additional functionalities that are specifically enabled through the utility of Warp’s governance token, veWarp, and our liquidity vault, Chisel.

Rollout: veWarp

We have mapped out Phase 2 of our rollout plan to release veWARP and are looking forward to providing further utilization to our token holders through this introduction. veWarp enables us to further align with our community by unlocking governance and fee-sharing capabilities across our protocol. We accomplish this through the token design of veWarp, a non-transferrable receipt token that can be locked by depositing the base token into the voting escrow contract. The token that is received will then bequeath its holders with the right to deliver governance over decisions and participate in the generated fees of the protocol. The utility of veWarp is continuously expanding as governance and voting incentives are further being built out. Additionally, veWarp token holders will be able to utilize their tokens for locking and minting to generate additional utility including yield generation.

Rollout: Chisel

To ensure stability as we roll out these features, we have opted to release V2 in phases. Chisel is thus being rolled out towards the end of Phase 2. Chisel is a TVL vault that functions as a liquidity pool that supports lending pairs on Warp. The purpose is to incentivize users to provide liquidity thus helping Warp bootstrap itself as a stable and liquidity-rich ecosystem. By depositing tokens into Chisel, to provide liquidity and support the lending pairs, LPs will receive WARP tokens as an incentive and reward.

Our overarching goal is to create an ecosystem where liquidity is always available to support the functionalities and demand of our Isolated Lending Pairs and other protocol features. Additionally, Chisel unlocks liquidity provider potential on Warp, as users do not have to spend time individually depositing into each pool. Chisel not only helps manage and reduce exposure to risk but also allows for the maximization of yields as depositing into Chisel will result in the funds being provided to a group of isolated lending pairs to farm yield efficiently. Notably, while Chisel powers liquidity, the lending pair availability and the direction of the liquidity will be predetermined by veWarp governance votes.

Future Milestones

With the continuous innovation in the Warp Protocol, we have several plans to develop additional utilities that will enable our users to explore optimized lending options. With the launch of V2, the aim is to pioneer innovations aimed at facilitating an optimized crypto lending and borrowing infrastructure⁠ through our launched isolated lending pools.

Some targeted milestones post V2 include:

  • Further integration of Element Finance PTs
  • Bribing to direct liquidity
  • The creation of pool-based lending pairs
  • The ability for users to use L2 assets as collateral on L1

About Warp

Warp remains focused on facilitating an optimized crypto lending and borrowing hub for its community and the entire DeFi ecosystem. All our innovations are leading to a landscape of permissionless pool creation. ⁠We introduce Warp V2 with the initial features of Isolated Lending Pairs that are supplemented by Element Finance’s principal tokens, but more features will be introduced and rolled out throughout the Blacksmith Update. We, at Warp Finance, are dedicated to pioneering novel strategies in the lending space to deliver new yield optimization and DeFi possibilities to our community.

To follow the Warp Protocol as we carry out these new endeavours, check out our socials:

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