WELL Pool will Open the Sixth Phase of Reward Voting

Dear Users,

WELL Pool will open the sixth phase of reward voting, details are as follows:

  • Voting Projects: Olympus (OHM), Spell Token (SPELL), Gro DAO Token (GRO), FODL Finance (FODL). We will select the tokens that will be prioritized into the WELL Pool from your voting results.
  • Voting Time: 2021/10/19 16:00 – 2021/10/22 16:00 UTC time
  • Voting Rules: Projects with more than 2,000 voters will be given priority to go live on WELL Pool with an initial pool of 10,000 USDT equivalent project tokens. After 2,000 voters, the prize pool will increase by 10,000 USDT for each additional 2,000 voters, up to a maximum of 100,000 USDT equivalent tokens.
  • Voting Link: https://forms.gle/KwEthekaGZhrC3cc8

Invite to win rewards

This WELL Pool will have a new 10,000 USDT equivalent invitational prize pool. During the WELL Pool, all users who participate in deposits to pool invite their friends to register using their own invitation code and complete identity verification, both the inviter and the invitee will be able to participate in sharing the reward.

  • Inviter A’s reward = Total prize pool * 80% * Total number of A’s invitees / Total number of invitees
  • Invitee’s rewards = Total prize pool * 20% / Total number of invitees

To ensure the fairness of the activity, cheating behaviours such as swiping and mutual knocking are strictly prohibited. The platform will immediately disqualify any user who commits any irregularities that affect the normal operation of the activity, and will freeze the account in serious cases.

During the activity period, BitWell reserves the right to disqualify trades that are deemed to be wash trades or illegally bulk registered accounts, as well as trades that display attributes of self-dealing or market manipulation, and the account will be frozen in serious cases.

Voting Project Introduction

Olympus (OHM)

Zone:DeFi

Community heat: 62,000

Olympus is an algorithmic currency protocol with the goal of becoming a stable crypto-native currency. Though sometimes called an algorithmic stablecoin, Olympus is more akin to a central bank since it uses reserve assets like DAI to manage its price. The goal is to achieve price stability while maintaining a floating market-driven price.

The biggest difference between OHM and stablecoins like USDC is that OHM is backed but not pegged to a certain price. Technically, the price floor for OHM is 1 DAI, but practically a premium and the treasury value is added to the price. OHM differs from other algorithmic stablecoins like Ampleforth (AMPL) because it issues OHM to buy DAI and other assets and maintain a treasury. This mechanism is similar to FEI, the key difference is that FEI keeps a dollar peg, and Olympus allows its token to float.

Official website address: https://www.olympusdao.finance/

Contract address:
0x383518188c0c6d7730d91b2c03a03c837814a899 (ERC20)

Click to view: OlympusDAO (OHM) Project Analysis

Spell Token (SPELL)

Zone:DeFi

Community heat: 40,000

SPELL is the protocol incentive token for Abracadabra, a lending platform that uses interest-bearing tokens (ibTKN) as collateral to borrow USD-pegged stablecoins (Magic Internet Money – MIM) that can be used just like any other traditional stablecoin. Abracadabra offers the opportunity to use assets that are currently locked up in places like yVaults and thus cannot be used further.

Official website address: https://abracadabra.money/

Contract address:
0x090185f2135308bad17527004364ebcc2d37e5f6 (ERC20)

Click to view: Spell Token (SPELL) Project Analysis

Gro DAO Token (GRO)

Zone:DeFi

Community heat: 15,000

Gro is a yield optimizer that enables leverage and protection through risk tranching. Gro DAO token is the governance token that would empower users to vote on protocol improvement proposals and participate in our liquidity rewards program.

Official website address: https://www.gro.xyz/

Contract address:
0x3Ec8798B81485A254928B70CDA1cf0A2BB0B74D7 (ERC20)

Click to view: Gro DAO Token (GRO) Project Analysis

FODL Finance (FODL)

Zone:DeFi

Community heat: 6,000

Fodl Finance is the DeFi application from the team behind the DeFi whale 0xb1 address 「0xb1.484」, a protocol that will provide leveraged long/short services with no interest rates.

Fodl enables traders to utilize leverage for their trades without paying a funding rate. This leverage is derived from existing DeFi building blocks, such as Compound and Aave.

Official website address: https://fodl.finance/

Contract address:
0x4c2e59d098df7b6cbae0848d66de2f8a4889b9c3 (ERC20)

Click to view: Fodl Finance (FODL) Project Analysis

Risk Warning:

Cryptocurrency investment is innovative blockchain products, and subject to price fluctuation. Please judge your risk-taking ability rationally and make your investments with caution.

BitWell is not responsible for any direct, indirect or consequential losses as a result of the cryptocurrency trading and holding.

BitWell Team
2021/10/19



BitWell is committed to building a fair and transparent global digital asset trading platform, providing investors with secure, convenient and intelligent blockchain derivatives trading services.

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