The Pivot — PPNC x Bamboo Finance
“A pivot is a change in strategy without a change in vision.”
The ability to pivot is a crucial component of staying up to date with any rapidly growing industry, and DeFi is no exception. We believe that every great project will need to pivot along their pathway to success, which is why PPNC & Bamboo Finance will be implementing some big changes. This includes changes to PPNC, as well as the whole Bamboo Finance protocol.
What are the New Changes?
There are two main changes coming to the ecosystem:
1. PPNC total NFT supply will be reduced from 5,000 to 2,000
- After careful consideration, we have made the decision to reduce the supply of Passive Panda NFTs
- This minting round will be your final chance to mint an NFT (At the time of writing, there are only ~400 NFTs remaining to mint)
- This will increase the inherent value and rarity of all current NFTs in circulation
- This will also increase the direct ownership and return that each Panda will receive from the Bamboo Finance protocol
- Note that all Passive Panda NFTs will earn new rewards, airdrops, and giveaways with the launch of Bamboo Finance (See Bamboo Finance Whitepaper for Details)
2. Bamboo Finance is Becoming an Algorithmic Seignorage Protocol
- We will be building the first algorithmic stablecoin pegged 1:1 to UST on Avalanche
- This model will be similar to the likes of Tomb Finance, but instead pegging to a stablecoin in order to provide less volatility, especially in downward market cycles
- In addition, with Avalanche and TerraLuna recently announcing a partnership, we believe that UST will become the biggest decentralized stablecoin on the AVAX blockchain, and we are the first to peg to it
- The protocol will be eventually shifting towards a DAO system to bring true Web 3.0 theories to reality and provide true ownership for everyone involved
- Users will be able to purchase tokens, add to LPs, and earn yield
- We will also be introducing nodes (locked staking), where users can lock up their tokens for a portion of time
- Building a pegged stablecoin allows for our native token to become a stablecoin of its own one day, opening up a multitude of possibilities for expansion, which we already have planned
For more information on the change to the Bamboo Finance protocol:
Draft Last Updated: Saturday April 23, 2022
