Zunami V2 is here!
Welcome to the new DeFi experience with Zunami Protocol V2 — secured, boosted and innovative.
- The protocol has successfully passed audits by top-tier agencies: Nomoi, Peckshield, and Oxorio.
- Full on-chain governance, which includes Liquidity Management, Adding Strategies, $ZUN Distribution and other.
- A new feature, Recapitalization, enables you to use Zunami Protocol as an insurance layer for your stablecoins.
- The Tokenomics involve a bi-weekly Gauge weight vote, $ZUN staking, and Revenue sharing.
What is Zunami?
- The Zunami Protocol creates omnipools and issues stablecoins on top of them. Each zunStable has its own omnipool as collateral.
- The Omnipool operates as a Yield Aggregator by providing liquidity to the multiple strategies and reinvesting profits.
- The DAO manages the addition of new strategies and the rebalancing of funds between strategies.
Zunami Protocol is backed by ecosystem players Michael Egorov, Mr Block, C2tp, Winthrope, Hubert, Machibigbrother, Cp0x and others.
The angel round was closed without the involvement of any VCs, focusing solely on ecosystem players dedicated to Zunami’s success and capable of contributing to the development of the DeFi & Curve ecosystem.
ZunStable Collateral
Using an Omnipool as collateral offers many advantages:
- Fully on-chain and transparent collateral.
- Effective collateral management through DAO voting.
- Sustainable yield by utilizing collateral in stable pools on Curve Finance.
The Omnipool layer helps optimize DeFi interactions for users by providing liquidity in the most effective manner. DAO governance manages pools for providing liquidity and allocating funds among them.
ZunStables are here to lead the market by aggregating top-notch stablecoins like crvUSD, USDC, and USDT and receive sustainable income from providing liquidity with them.
ZunStable Staking
Users can stake their stablecoins in APS. The Algorithmic Peg Stabilizer works as a classic omnipool managed by the DAO and provides liquidity into the pools or/and keeps it in the Vault to control the proportion inside the pools. For example, if there is more than enough $crvUSD in the pool, APS will withdraw $crvUSD, mint $zunUSD, and deposit it into the pool to maintain a normal proportion. Conversely, if there is more than enough $zunUSD in the pool, APS will withdraw it, redeem it, and deposit $crvUSD back into the pool.
In addition, APS works as a classic yield aggregator — it harvests all rewards and reinvests them back into the pool. So it’s the best place to park your stablecoins.
APS works with many pools that are approved by the DAO and rebalances between the pools by voting.
Audits
The primary objective of V2 is to ensure security; development has been focused on refactoring its architecture to achieve the highest level of security. Additionally, V2 has passed three security audits by leading companies:
- Peckshield
- Nomoi
- Oxorio
This is not the end. The next steps include launching bug bounty campaigns and undergoing further audits for the current version.
Tokenomics
With the introduction of the $ZUN token, the protocol is fully managed by on-chain governance.
The ZUN token has four main use cases:
- Governance Control — $ZUN stakers can vote and influence decisions on the development of the Zunami Protocol.
- Liquidity Control (LaaS) — $ZUN stakers manage strategy in Omni Pools or obtain zunUSD/zunETH liquidity from APS through DAO proposals.
- ZUN Distribution Control — $ZUN stakers can participate in a Gauge weight vote every two weeks to determine the distribution of $ZUN token emissions.
- Revenue Share — ZUN stakers receive 100% of the income generated by the Zunami protocol.
ZUN Staking
The ZUN staking contract provides an opportunity for ZUN holders to participate in the governance and revenue-sharing of the Zunami Protocol. It offers a way for holders to contribute to the protocol’s operations and receive rewards in return. The ZUN staking contract is a mechanism where ZUN holders lock their ZUN tokens and receive vlZUN.
vlZUN holders can actively participate in voting, thereby governing the protocol directly. Alternatively, they have the choice to delegate their voting rights to trusted representatives.
This contract receives rewards from all through controllers (the USD pool, the ETH pool, and others). vlZUN provides the ability to vote in the DAO and ZUN Distribution Contract, and holders receive 100% of the protocol’s revenue plus additional $ZUN emissions.
The received rewards ($ZUN, $CRV, $CVX, $SDT, $FXS) are distributed proportionally among the stakers, and there is the capability to add new rewards in the future.
Exiting early is possible with a 15% penalty on the stake. The penalty is distributed among $ZUN stakers.
Recapitalization
Using Zunami as a protocol for providing liquidity in stablecoins adds an extra layer of insurance with its brand-new recapitalization mechanism. Zunami utilizes only top-notch stablecoins in its omnipools, such as crvUSD, USDT, and USDC. However, in the event of a black swan occurrence, staked $ZUNs will cover the loss.
Every zunStable is backed with an added layer of collateral in the form of $ZUN tokens staked specifically for recapitalization purposes.
vlZUN holders choose strategies for allocating liquidity and take the risks for holding funds there. If some loss accrues, vlZUN holders, after DAO voting, start the recapitalization process — they transfer all the rewards and swap them for the collateral tokens, withdraw ZUN tokens from the staking contract, and exchange them.
The TGE will take place in April-May.
- App: https://app.zunami.io/
- Documentation: https://zunamilab.gitbook.io/zunami-docs/
- Twitter: https://twitter.com/zunamiprotocol
