The Future of Augury Finance!
We have been actively listening to the concerns expressed within our community both about the future of OMEN as well as the current trajectory that the OMEN token has taken.
I. Where do we go from here?
On August 17, 2021, Infusions will launch! Through our Infusion Drive, we are able to take a coin and infuse it with other coins! Once this functionality is live, a new “Infusions” tab on the Augury Finance website will appear. Let’s explore how this works: Given a coin (e.g. QUICK), you can deposit it in a pool that will infuse it with other coins without losing your original coin. For example, you might deposit a QUICK token into our mystic pool and receive 25% wMATIC / 25% wBTC / 25% wETH / 25% USDC as an output at a great rate. We are aiming to offer infusions on the largest projects and technologies on Polygon so that you’re always receiving something that you want with an attractive APR. The infusions will continuously run and provide you with rewards on a regular basis. For OMEN token holders, the benefit of our infusion program is that we believe this will continue to provide ongoing revenue opportunities, as part of the performance charges on the infusions will both go to the community wallet (to be distributed through dividends), and go towards buying back OMEN.
As added utility, infusions will have two performance tiers. Tier I is for people who have OMEN tokens while Tier II is for people that do not.
For people with OMEN, the Infusion system will have a small OMEN charge (0.1%) associated with a deposit. This performance charge will be deducted in OMEN. By burning some OMEN on your Infusion deposit, you will experience reduced performance fee charges.
For people without OMEN, the Infusion system will carry higher performance fees.
*At the time of this article, the performance fees have not been decided so they are not reflected above.
This will, once again, provide more utility for the OMEN token, as OMEN holders will have a mechanism where they can use OMEN to increase their overall performance on our platform.
Lastly, OMEN farming will come to a close on August 17, 2021. This is ahead of our originally scheduled closure (August 31, 2021). Effective August 4, 2021, we will begin reducing emissions on the OMEN token. Each day the emissions will be reduced by 1.27 OMEN per block, leading up to August 17, where OMEN farming will come to a close. By reducing the emissions on the OMEN token, we may experience a drawdown in APRs while we head towards the end of OMEN farming. We will also be increasing the OMEN pool, and single-staking allocation points while reducing the rewards in the non-OMEN pools. We are doing this to ensure that dedicated platform users will have the opportunity to earn more OMEN before Infusions launch (so that you receive the Tier 1 rates).
II. New Products?!
In September, we will be presenting a new product in our cauldron. This product interoperates with existing yield farms while helping you to maximize yields and minimize your risk. We are aiming to share many amazing details including our paper and Business Model Canvas regarding this product beginning the first week of September. We have seen the future, and it is Augury Finance.