Another week gone by, and with it a whole lot of improvements to Snowball, along with many exciting updates for our community. Let’s have a quick recap of what took place this week, and explore some opportunities that you can take advantage of right now.
New Auto-Compounding Strategies
Our smart contract developers have rolled out a lot of new strategies for snowballers to check out, including the new Joe Rush pairs that compound the extra WAVAX incentives now offered by Trader Joe. These new strategies are the following:
- BenQi AVAX folding strategy.
- Banker Joe MIM folding strategy.
- Joe Rush AVAX-JOE strategy.
- Joe Rush AVAX-SPELL strategy.
- Joe Rush AVAX-YAK strategy.
- Joe Rush AVAX-XAVA strategy.
- Trader Joe AVAX-ROCO strategy.
- Pangolin AVAX-FRAX strategy.
Website UI/UX Improvements
A lot of improvements were made to the stability and speed of many of our smart contract calls and page load times, and many RPC errors some users were experiencing are now resolved. Even more UI improvements are coming, be it design-wise or targeting the responsiveness of our main ‘Compound & Earn’ page.
Expect an even better user experience by next week because of the hard work from our front-end developers!
New Tipping Bots
Rewarding those that provide value and contribute to Snowball’s community is now easier than ever! We’ve rolled out the ‘Tip.cc’ bot on our Discord server in order to do just that. An Avalanche native tipping bot, ‘Tip Blue’ will also be added soon, in order to have as many avenues for contributors to receive their well-deserved SNOB as possible.
Once both of those are rolled out to all our channels, watch out for any tips coming your way! Let’s show some love to those around us by covering them in an avalanche of snowballs.
Community Ambassador Opportunities
We are looking for members of the community who wish to become community ambassadors — especially those who speak other languages fluently. This will help Snowball reach those in non-english-speaking countries, and grow our community with people from different nationalities, experiences and contributions to bring to the table. Does this sound like you? Reach out to us on Discord!
New Meme Contest
We are hosting our very own meme contest, with some handsome SNOB prizes to boot. Think you have a meme worthy of praise? You still have some time to submit your entry. Check out the #memes channel on Discord for more information regarding the rules and prizes available.
Our First Community Call
This week we’ve had our first community call on our Discord server, hosted by two council members: Big Wampa and Jomari. This was a great opportunity for the community to get together, have a chat and ask questions, as well as make suggestions for the future of Snowball. Even though it was only announced a day prior, over 30+ community members managed to make it, and the call was a great experience for all involved.
These calls will take place every Thursday, 17:00 UTC on our Discord’s ‘Community Call’ channel. Hope to see even more of you there next time!
Question Highlights
To highlight some of the questions answered during the latest community call, we’ve compiled them here in case you couldn’t make it! Check them out:
Is Snowball joining Avalanche Rush?
- As a more definite or time-specific answer cannot be given for now, we’ll stick with the legendary “Soon™”.
How does one contribute to the development of Snowball?
- We are constantly making efforts to make it as easy as possible for external contributors to pick up any task they feel capable of helping out with, and getting it done. Our Github repositories are public, and all our tasks will be moved to the ‘Issues’ section of each soon. If there is nothing there that interests you, reach out to any of our developers through Discord. They’ll be able to help you find exactly what you want to do to contribute.
What exactly is the council?
- Snowball’s council consists of 6 elected members of the community, and more details can be seen here. Any action regarding usage of treasury funds or any protocol-wide decisions require at least half of their signatures to approve it. The council is essentially a safeguard to ensure that the will of the community is always reflected on each and every one of Snowball’s actions.
Do we ensure platforms are safe before deploying strategies that use them?
- Snowball takes every strategy deployed very seriously, which is why we only have strategies that utilize a handful of projects on Avalanche. We always do our due diligence when investigating new platforms, and we have members in the community with experience in the auditing process that help us out when these situations arise.
What is the state of proposal 14?
- Proposal 14 introduced the conversion of assets collected through Snowball’s performance fees to SNOB tokens, increasing buy pressure for the SNOB token as well as facilitating fund management within Snowball’s treasury. This conversion has already been implemented in most auto-compounding strategies, with a few stragglers due to unforeseen complications. For all intents and purposes the proposal has been executed, with the small loose ends being tied up as soon as possible.
Will SNOB rewards continue after emissions are over?
- Once SNOB emissions end, rewards will continue to be rolled out through buyback functionalities similar to proposal 14’s. Of course, there can be any change to the systems behind SNOB rewards if the community deems it necessary, in which case a proposal will be put in place for us all to vote on together.
Snowball Stats
- Over $650,000+ of value harvested in our strategies this week.
- Over 40.3% of all SNOB tokens are being staked for xSNOB.
- Over 1030+ members of the community are staking SNOB.
- On average, SNOB is being staked for over 1.33 years!
Unsure why you should stake your SNOB? Check out our documentation here.
About Snowball
Snowball is an auto-compounder for liquidity rewards and an automated market maker (AMM) for stable assets. It was the first auto-compounder launched on Avalanche and it prides itself on being entirely community run. If you’d like to be a part of Snowball, join the conversation in Discord or Telegram. Stay up to date on our Twitter.
