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GYSR Integrates UMA KPI Options
GYSR makes it even easier to distribute KPI options with native support on their platform.
What is GYSR?
GYSR is an incentive platform that allows developers, DAOs, and teams to launch reward programs. They are designed for easy deployment and customizable rewards programs to fit community needs. From their website:
GYSR provides infrastructure for investors to earn tokens in return for staking in its contracts. Every Pool offers different rewards and requires a different staking token. Find a Pool offering a reward token you’re interested in, then stake the required token and earn rewards over time.
How does GYSR leverage KPI options?
KPI options are incentive tokens that pay out depending on if a target metric is hit (the key performance indicator.) They are fully collateralized ERC20 tokens, trustlessly enforced by UMA’s optimistic oracle.
KPI options are gaining momentum as a protocol rewards mechanism, and the GYSR pool effortlessly allows the distribution of rewards. This is an ideal delivery system for a metric-based reward token, as it distributes tokens to users by their on-chain activity.
GYSR pools and KPI options are also independently customizable. This means that teams have the flexibility to create rewards programs tailored to their specific needs. Liquidity mining rewards, staking rewards, or airdrops can have more profound and community-aligned outcomes.
Furthermore, using KPI options rewards the community for promoting the project’s goals. Many new protocols suffer from token price dumps after an airdrop or mercenary capital, with members only showing up for the rewards and quickly exiting once they have made their returns. By using a GYSR KPI option, protocols can mitigate these effects dramatically by creating a rewards system that makes participants sticky and aligned with the goal of the community.
Example — Liquidity Mining 2.0
A DAO wants to incentivize liquidity for its native token against ETH in a Uniswap pool.
With regular farming, rewards can be harvested and sold. The results are usually token price dropping and the project worrying more about it or devoting undue attention to the token price.
Here is where GYSR-streamed KPI options come in. The KPI options can be tailored to pay out based on a second-order incentive other than pool liquidity. This could be TVL in the protocol, number of twitter followers, or daily active users. This will encourage farmers to engage for the success of the protocol.
How can you launch GYSR KPI options?
Launching KPI options requires no lines of code to deploy. All you need to do is think of the metric you want to target, an associated pay-out function, and a timeframe. After deploying and minting the KPI option tokens, you create a reward pool on GYSR’s UI. You can choose details of how your token is distributed by selecting the type of pool, the token for rewards, and any bonus parameters. The last step is to then fund the pool with the KPI option long tokens you minted previously.
Example of GYSR streamed KPI options.
Get started on the GYSR website. Make sure to follow @UMAprotocol on Twitter for further information and updates, and join discord with questions.
Learn about GYSR streamed KPI options was originally published in UMA Project on Medium, where people are continuing the conversation by highlighting and responding to this story.
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