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Home All Events - Ape O'Clock Extra Finance Beta Launch


May 09 2023


12:00 pm

Your Time

  • Timezone: America/New_York
  • Date: May 09 2023
  • Time: 8:00 am



Extra Finance Beta Launch

Lending & leveraged yield farming protocol on Optimism.

  • Mechanics & Features
    • Users can deposit in farming pools across Velodrome with up to 3x leverage
    • Users can deposit assets (e.g. ETH, USDC) into lending pools to earn interest on their deposited assets
    • Deposited assets can then borrowed by leveraged yield farmers
    • Interest rates is determined by the utilization rate of lending pools
    • No fees on deposits or withdrawals, and no default lockup period
    • Dual token system;
      • $EXTRA is the utility token
      • $veEXTRA is the escrowed governance token
    • $EXTRA can be locked (up to 1 year) to receive $veEXTRA
    • $EXTRA is used for rewarding liquidity providers through emissions
    • $veEXTRA holders receive access to lending pools with a high utilization rate, unlock higher leverage for yield farming pools, governance power, and a share of platform fees
  • Tokenomics
    • Token symbol: EXTRA
    • Total supply: 1,000,000,000
      • 60% — Community
      • 26% — Ecosystem growth and partnerships
      • 10% — Team
      • 3% — Airdrop
      • 1% — Initial liquidity
      • ❌ No information on the rest of the token allocation
Links & Resources
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