Back to Blog

Why everybody is shilling Concave?

post image

We are all henpai

Over the night, all people are talking about Concave.

Concave Fi posted the first twitter on November 24th; five days later, Concave received 21.4 followers and over 24.6 members in its discord.

When you join, you will be surprised by how cheerful people there are.

What do they mean by spoon?

So what is Concave? We can learn it from the angels below

Concave describes itself as a spoon that holds all the Liquidity of Defi 2.0. It allows for zapping of different ohm forks to staked ohm directly and earn yield across the chain.

It is a community-oriented protocol that bundles cross-chain ohm forks. The spoon can collect fragmented fork liquidity and return its value to OHM. It helps to feed Olympus treasury, helping OHM to become the internet’s reserve currency.

截屏2021-12-06 下午1.09.06.png

Some critical points summarized by the Concave community members:

  • Concave will be multi chain
  • Will create Liquidity with Ohm and Ohm forks.
  • Bonding for all OHM and OHM forks - users can deposit their OHM and OHM forks LPs and bond them(eg:$FEI, $FRAX, $DOLA, $MlM, $sOHM.)
  • Users can then use the Concave token as collateral to borrow DAI

The protocol would be earning fees from these users by providing Liquidity from those stablecoins. There would be a possibility of borrowing stablecoins from other EVM-supported chains by staking the concave token.

We can also take Concave as the combination of OHM and INV.

The most beautiful part of Concave is that actually, it’s not team members who give definitions and restrictions about Concave. The team provides an abstract idea, and it is up to the community who expand and explore the imagination.

Coexistence rather than a fork

To point out, Concave is not a fork of Olympus DAO. Quite the opposite, it aims to achieve coexistence with OHM and all the forks

Through the picture below, we can know Concave is more like a tool or middleware and helps maximize the Liquidity for OlympusDAO.Forks would seize and take away a percentage of profits and market share of OHM, but Concave would bring more profits and earnings to Olympus. The difference is quite clear.

截屏2021-12-06 下午1.51.15.png

Similar to RomeDAO who help to migrate OlympusDAO to Moonriver and has established an official relationship with OHM, Concave, a multi-chain solution provider, might also help migrate Liquidity to other blockchains such as Fantom, Avalanche, Harmony.

How to join early and get a role?

As Liquidity on OlympusDAO is growing exponentially and more and more followers of (3,3), Concave as an official cooperation project has gained lots of attention.

It seems many people are rushing in and trying to get a role in the Concave discord community.

You might join now and also try to get a role. It might be associated with a future bonus such as whitelist chances.

Here are some explanations of the roles and instructions on how to get them!

There are several roles in the discord community group, and you need to complete the following tasks to get the corresponding role.

For example, you can get the Genesis role by going to Research-Center and coming up with a solid theory or guess what you think Concave is or can be.

And you can probably get a Surveyor role by going to the meme channel and posting a great meme. But probably, you will need to post a few.

For more roles, please check the content below.

截屏2021-12-06 下午1.55.35.png

Good luck!