iZUMi Finance Migrates to DAO with veiZi NFTs: Details

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Vladislav Sopov

iZU­Mi Finance’s decen­tral­ized autonomous orga­ni­za­tion will be gov­erned through an eccen­tric NFT-based mechanism

Con­tents

iZU­Mi Finance, a liq­uid­i­ty man­age­ment pro­to­col for the Uniswap v3 decen­tral­ized cryp­to exchange, migrates to the next phase of its decentralization.

iZUMi Finance announces the launch of iZUMi DAO with NFTs

Accord­ing to the offi­cial announce­ment shared by the team of iZU­Mi Finance, its hot­ly antic­i­pat­ed DAO is final­ly ready to change the game in the “yield fam­ing” segment.

iZUMi Finance becomes DAO
Image by iZU­Mi Finance

Unlike the major­i­ty of DAOs that are gov­erned by hold­ers of ERC-20 tokens, in iZU­Mi Finance, only own­ers of iZU­Mi DAO veN­FT (veiZi) ERC-721 non-fun­gi­ble tokens will be able to have a say in cru­cial gov­er­nance referendums.

Also, emis­sions of iZi, a core native util­i­ty token of the pro­to­col, will be con­trolled accord­ing to the out­come of veN­FT hold­er vot­ing. To sup­port stak­ing pro­grams, 50% of the plat­for­m’s rev­enue will be bought back and dis­trib­uted between veN­FT owners.

veiZi gov­er­nance NFTs can be cre­at­ed by any cryp­to wal­let by lock­ing iZi tokens for a pre­de­ter­mined peri­od of time. As such, veiZi is a unique mod­el of inter­est-bear­ing non-fun­gi­ble tokens.

Here’s how you can boost iZUMi Finance’s farming pool profitability for your deposits

Besides that, veiZi gov­er­nance NFTs will be avail­able for pur­chas­ing on major third-par­ty dig­i­tal col­lectibles’ mar­ket­places on Ethereum (ETH) blockchain.

With iZi tokens locked, iZU­Mi’s farm­ing mod­ule prof­itabil­i­ty can be increased by a fac­tor of 2.5x. Sim­ply put, it is accom­plished by peri­od­i­cal­ly reduc­ing the sup­ply of iZi tokens.

As cov­ered by U.Today pre­vi­ous­ly, iZU­Mi Finance secured $2,100,000 in a seed fund­ing round in mid-Novem­ber 2021.

The round was led by Mirana Ven­tures, with Ever­est Ven­tures Group, Youbi Cap­i­tal, Lucid­Blue Ven­tures, Puz­zle Ven­tures, WolfEdge, ICG, Adap­tive Lab, Noth­ing Research and Tess Ven­tures also back­ing iZU­Mi Finance in its fundrais­ing efforts.

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