Weekly Update: Governance Proposals, Certik, P10

2 min readAug 3, 2021

Governance Proposals

Two governance proposals were passed over the past week:

-A proposal to reduce the ADDY boost weight from 100% of the emission rate to 50% of the emission rate passed. Read more HERE.

-A proposal to scale the ADDY boosting power based on each vault’s base APR passed. Read more HERE.

Certik Audit

The Certik audit was complete this past week. No critical issues were found. The audit results indicate there were five ‘Major’ findings with two resolved issues and three partially resolved issues. Six ‘Medium’ findings with five issues resolved were also found. We recommend reading the full PDF for more details. As well, see our breakdown of certain contract owner privileges here.

You can also read the Certik Audit medium article for more details HERE.

P10

Adamant was nominated to be part of Index’s P10 project — https://gov.indexcoop.com/t/creation-of-polygon-10-index-p10/2125

We have begun conversations with their team for co-marketing and other collaborations!

ADDY Buybacks

With the release of the Certik Audit, we also began our ADDY buyback system. A certain proportion of the performance fee dividends will be used to buy ADDY on the market and distribute it to lockers in our new boosted contract. Read more details HERE.

Business Development

You might have noticed Adamant ads on 0xtracker.app and tin.network as you tracked your funds. Starting today, you’ll also see our ads on apeboard.finance. These three sites have a large amount traffic of users familiar with yield farming and, more specifically, Polygon.

We also have announced a partnership with IDEX. Read more HERE.

Emission Reduction

The ADDY emission rate was decreased from 425 to 400 per the emission schedule. The next emission reduction will occur on September 1 where there emission will reduce from 400 to 380.

Users can view the emission schedule here: https://adamantfinance.gitbook.io/adamant-finance/emission-schedule