Introduction
Retrograde is a yield and governance boosting protocol launching soon on Terra, building on top of the rapidly growing Astroport DEX. Astroport is the leading AMM in the ecosystem and will release a “vx” vote escrow tokenomics system inspired by Curve.
Retrograde serves to better align yield and governance incentives for Astroport token holders and LPs. By accumulating $ASTRO tokens and locking them up, the Retrograde protocol will offer LP token holders the max boost from the vxASTRO mechanism, without requiring them to hold and lock meaningful amounts. Retrograde gives $ASTRO holders all the yield upside of staking and locking ASTRO but with none of the illiquidity downside from locking. With Retrograde, users are able to supercharge the part of token utility most important to them, whether that be higher yield or greater governance power.
Terra is quickly turning into a DeFi powerhouse, and Astroport is vital to maintaining deep liquidity throughout the ecosystem. Retrograde will help to facilitate that liquidity by bringing in participants who may have otherwise been weary of long locking periods or at the mercy of larger whales. This is essentially what Convex has done for Curve, serving as a complementary protocol that supercharged the Curve ecosystem. Retrograde takes this role for Astroport and Terra.
The Retrograde core development team has extensive experience contributing to Terra infrastructure, with backgrounds in big tech and TradFi. They see unique value within Terra and look to contribute to its growth within the greater DeFi ecosystem. They have the ability to ship fast and reliably, giving Retrograde a unique edge when it comes time to grow and evolve with the ecosystem.
Proposal
Retrograde invites Frax Finance to participate in the private round as a protocol DAO, alongside other key strategic partners, including Redacted Cartel and many more. Vote locking RETRO will extend both a claim to protocol yield and governing rights, which promise to become influential in the forthcoming “Astro Wars”. Further, Frax will be able to align incentives between our communities, in keeping with continued collaboration between Frax and Terra.
Investment Terms
- $50k allocation for Frax Finance
- $0.05/RETRO
- 1 year cliff, 4 year vest
More Info
Actions
For: Invest in Retrograde and acquire the full $50k allocation
Against: Do nothing