Sunder Protocol Mainnet Release

Sunder Vaults have been successfully deployed, allowing for both On- and Off-chain governance tokens to be sundered. First incentivised implementations englobe gov. tokens like Compound, BoringDAO, and Sunder.

After a successful Testnet experience on Kovan, audit’s performed on our code and some last tweaks here and there, we are pleased to release our next step down the roadmap, Sunder protocol is now live on Ethereum Mainnet.
During the evening of October 28th, about 8pm SGT we will fully release interface connected to contracts, kickstarting Sunder’s launch on mainnet.

On-Chain Governance: Compound

As a glance example for full on-chain based governance, Compound is fully integrated with Sunder, and users can now sunder COMP tokens into isolated DAO & Earnings tokens, and benefit from our inclusive framework to earn yields while not giving up on governance rights.

Governance proposals run though Sunder’s Snapshot Hub, under which Compound’s proposals are mirrored real-time, and can broadcast your vote as dToken holder without need of transaction fees. In the background, Sunder Vaults take care of relocating COMP tokens within in order to execute broadcasted votes by COMP dToken holders.

To further understand about how our approach towards governance integrations work, we suggest to read up on our recently released article about it here

As for the Earnings isolated token, COMP eTokens are equally issued to COMP dTokens at a 1:1 ratio, and can be utilised in multiple ways. In order to benefit from yields sourced from strategies performed by the Sunder Vault, users can stake their COMP eTokens directly in within the Sunder Vault for eligibility. Alternatively, liquidity provision incentivised in Sunder is available for the designated pairs.

LP Incentivisation
Both liquidity pairs are now live on Sushiswap for trading and incentivised liquidity provision:

COMP dToken/DAI 0x68b5E431a1Df1Cb94d11218690b5780DE5C918bd // LP0
https://app.sushi.com/add/0xD7ff7290C83a4B82AcCDf68247e47cF8a1589e51/0x6B175474E89094C44Da98b954EedeAC495271d0F

COMP eToken/DAI 0x6db49B60B15b27d3e5C948DB3025bc522d5262C9 // LP1
https://app.sushi.com/add/0xC56e2a2455fFb19906ee6BA0CC7d4B9a4cE2c38C/0x6B175474E89094C44Da98b954EedeAC495271d0F

masterChef = “0x1D7D93e8C087195Ff17BD780925a2Cc3CB3961E4”

Token Addresses:
COMP dToken address: 0xD7ff7290C83a4B82AcCDf68247e47cF8a1589e51
COMP eToken Address: 0xC56e2a2455fFb19906ee6BA0CC7d4B9a4cE2c38C

Mining Reward Structure

Mining rewards given out for all SLP pools of isolated tokens are set at a 2,4m SUNDER/year, nearing to approximately 4SUNDER/block. These will be split between isolated token pools accordingly in order to incentivise liquidity provision.
To kickstart, COMP will be receiving the integrity of allocated rewards until subsequent pools are launched, e.g. BORING to have 10% of rewards allocated once live.
Other upcoming isolated gov. token pools will be subject to discussion/vote on demand in order to adjust distribution rates.

For Voting, Staking, and Liquidity Provision, as well as minting and redemption of sundered tokens, all can be accessed via Sunder’s App interface and interact directly.

Off-Chain Governance: BoringDAO

As for Snapshot-based governance protocols, the approach is slightly different. In this case, via a new Strategy on the main Snapshot dashboard, BORING dToken holders can broadcast votes directly on BoringDAO’s Snapshot page.
As you see from the strategy, it essentially includes for any Snapshot-based governance protocols to have it’s sundered dToken eligible for voting on any snapshot-based proposal directly launched by the protocol’s governance module. Given the 1:1 collateralization ratio between any governance token and minted dTokens, this would in no way inflate or jeopardize the voting participation.

Currently, the proposal is being processed on BoringDAO’s Snapshot page and is expected to conclude on September 30th.
Have a look!
https://snapshot.org/#/boringvote.eth/proposal/QmPkoTpKDN7DU7K9GGqDVeFqzinqRpw5mRUhPfD6ZokCEu

As for the Earnings Isolated token, BORING eTokens are equally issued to BORING dTokens at a 1:1 ratio, and can be utilised in multiple ways. In order to benefit from yields sourced from strategies performed by the Sunder Vault, users can stake their BORING eTokens directly in within the Sunder Vault for eligibility. Alternatively, liquidity provision incentivised in Sunder is available for the designated pairs.

LP Incentivisation
Both liquidity pairs will go live on Wednesday 3rd of November on Sushiswap for trading and incentivised liquidity provision at a 9:1 ratio between COMP and BORING:

Two pools will be set up adhered to liquidity incentivisation:
BORING dToken/BORING
BORING eToken/BORING

Token addresses and pool addresses for each isolated token will be shared and communicated via discord to community, or can alternatively be found on APP, under ‘Liquidity Rewards’ once launched.

Farming via SUNDER on BoringDAO

We’re also pleased to communicate that BoringDAO & community is expected to be supporting SUNDER Governance token for single sided staking rewards within their protocol farm, incentivised via rewards in BORING!
40,000BORING/day may be attributed to Sunder stakers.

All details in regards to the proposal can be found here:
https://forum.boringdao.com/t/boringdao-new-farm-proposal/180

Note: The way Sunder’s mint function has been set up is similar to Uniswap’s open framework for listing pools on any token, but with requirements on criteria for becoming whitelisted. On Sunder, anyone can mint d- & eTokens out of any governance token and through our own governance, strategies and proposals can be set up for adding functionalities to it, from interest bearing strategies to voting integration. This is a process that is completely open and encourages community participation on identifying nouvelle opportunities to be integrated.

About Sunder Protocol | Vision

The vision of Sunder Protocol is to allow any user to extract full value of governance tokens through Sunder Protocol. Participating in governance while earning yield to be simultaneously achievable, avoiding excessive overhead cost spent on fees.

Governance Participation should not be an excluding factor for alternative utilities, left available to fewer large holders.

Website | Github | Discord | Twitter

For inquiries, collaborations or direct outreach:
Find us on Discord (recommended) or send an email to: contact@sunder.finance