S8 brings the debut of the much anticipated Gainify App. There will be many farms, multiple pools, and a variety of enticing rewards for G-App users to choose from. Let’s take a look at them all, and get ready to use Algorand’s next favorite application!
Season Seven Recap
When we published the S7 medium article, the market didn’t know Vertex would be a new token in Algorand. Rather, it was just our seasonal theme. But we surprised everyone when we setup the GAIN paired launch LP and made XVX tradeable.
The interest showed in Vertex took it to a quick, and dramatic, 21x off launch price of $1. At the time of writing XVX is sitting at a paltry $16.25 — representing a 16x weeks after its debut. Part of the reason Vertex sustained its momentum post-release, was due to the fact we cut its inflation in half.
We burned 1,800 XVX tokens, which are valued at ~$30,000.
It’s quite the feeling burning 30 grand, but an even better feeling is knowing we made Vertex’s emissions more sustainable while benefiting all its holders with a simple transaction. It will take over 6 months for Vertex farm/pool emissions to equal what we paired in the initial GAIN-XVX LP (980). Yet Vertex will be a critical component of our seasonal farms & pools for the next year.
Season Seven was also a winner for GAIN holders. The GAIN token price shot up through S7 while our farmers earned TINY, GAIN, ALGO, and LINK. We’ve continued to provide awesome rewards for our farmers while also improving the valuation of their principal asset. If doing something like that was easy, all projects would do it!
Finally, Season Seven brought us the newest version of our website, docs v2, two medium articles, one new discord ticker, and the rollout of our new mascot — farmer bots. S7 was a memorable one for the team, testers, and community alike. Thank you to everyone who took part in it!
Season Eight —Spark
As the price of Algorand starts to reflect its real value, the market is showing tangible interest in GAIN+XVX, and the G-App launching this season, we’re seeing sparks all around us. So it’s a fitting theme for our eighth month of existence.
We’re sparking up Algorand DeFi by rolling out a new permissionless farming site. The market’s interest will be sparked by the variety of farms & pools that get deployed on the G-App. We see sparks igniting the peak of Vertex. We’re lighting a spark on GitHub by open-sourcing the G-App contract. We’re setting sparks in our wallets by doing a bug bounty program. Sparks are everywhere, and we’re the kindle behind much of this fire!
Season Eight, It’s Electric
Season Eight Farms & Pools
S8 brings a ton of hosted options for farmers & stakers looking to rake in huge APRs. We know what we will be launching on the G-App, but we don’t know who else will join the party. Our guess is that we’ll see a variety of projects launching their own farms & pools, as it cost 67–90% less to do it on Gainify than Cometa. (Flat $10 vs. 100 ALGO + 1% of the farm reward)
As there are so many different options that will come out this season, let’s break it down by farm or pool:
Pools:
- Stake ALGO earn XVX (runs from launch to mid-season)
- Stake XVX earn XVX (runs from launch to mid-season)
- Stake GAIN earn XVX (runs from mid-season to Dec. 31)
Farms:
Note — All are Tinyman LPs
- XVX — ALGO earn XVX (runs from launch to Dec. 31)
This LP will be eligible for TINY rewards as well as being the highest earning farm in the G-App for S8 - XVX — GAIN earn XVX (runs from launch to Dec. 31)
- GAIN — USDC earn XVX (runs from launch to Dec. 31)
- GAIN — SQUAD earn XVX (runs from near launch to mid-season)
We will rotate partnered LPs into the XVX award cycle each season - GAIN — IPT earn IPT + GAIN (dates TBA but through S8)
- GAIN-INUMOO earn MINIMOO+GAIN (runs from ~launch to Dec. 31)
All in all, we’re hosting nine farms & pools on the G-App through S8, and these are in addition to the three more running on Tinyman. But, it seems like a great idea to round that number up to 10 hosted farms/pools; so keep an eye out for a mid-season surprise.
G-App
The G-App is set to go live this weekend (Nov. 29 — Dec 1.). This comes after months of development, testing, and deployment to mainnet. It has been a interesting process for everyone involved — from the developers, GAIN team, and testers. But we’ve crossed the finish line together, ready to deploy Algorand’s next great app.
As eluded to above, we’ll be open-sourcing the G-App contract(s) and offering a bug bounty program. Once the structure of the bounty program is produced, we’ll be posting it on GitHub and making reference to it in social channels. On the note of open-source, lets put our cards on the table and recognize this monumental step for the Algorand ecosystem.
We took no VC money to make the G-App. Nor did we go to xGOV with our hands out. Nor did we liquidate our GAIN/XVX treasury to facilitate the development. A good size of the funding originates from our winnings in the Change The Game hackathon during summer. Another portion comes from the team’s personal wallets — just like many of our farm rewards have.
From a business perspective, it makes zero sense to open-source the G-App contract. We paid for its development, dedicated months of our time and attention to it, and passing it out for free for anyone to use, including those who have taken VC money or xGOV, is a ridiculous idea from a business-minded perspective. The G-App is our IP…but…we just believe in the thesis of crypto & DeFi.
Open source is safer than closed, it allows for continued development of the space, and gives coders an opportunity to hone their skills. Open source is the backbone of everything we stand on. Without going into a history lesson, open-source projects paved the way for everything — from Algorand itself, to DEXs, to yield farming, to lending, to DAOs, to NFTs, etc.
So we’re continuing the tradition that makes crypto & DeFi special, unique, and worthwhile.
There’s a lot of risk in making the G-App contract(s) open-source. Maybe a much larger Algorand project makes use of it and launches their own permissionless farming system. Maybe a new Algorand project forks the code and makes it entirely free for anyone to use. Maybe an existing Algorand project integrates it, and goes on a X tirade with attempts to slander and defame us. Maybe this, maybe that.
It’s all fine. We know that we will operate the G-App in a way that both projects and users won’t want to leave our ecosystem. We believe in ourselves, and our capabilities, the same we always have. We’re not worried about what-ifs when it comes to open-sourcing our G-App. We’re more worried about what it would say about us if we didn’t.
G-App Integration Plan
Our tech lead Joe will be submitting G-App listing documents & PRs to the following sites throughout Season Eight:
- DeFi Llama
- Pera Wallet
- dApp Radar
VERTEX
While Vertex was discussed extensively in the intro to this article, let’s talk a bit more about it.
Inflation
The original plan was to emit 300 XVX tokens per month at 6% inflation rate. As there was a gap between XVX & G-App launch, this allowed the market to acquire Vertex and create LPs for it. In the process, the market’s action drove the price up to beyond what was expected.
If we stuck to the 300 XVX/month plan, that would mean about $5,000 in farm rewards at current prices in the first month. This would inevitabely lead to a huge selloff of XVX and negatively impact both XVX & GAIN price. So the decision was made to roast 1,800 tokens, take the inflation rate from 6% to 3%, and drop the total supply by a third. We believe this action will lead to even more sustainability of Vertex.
$TINY
While GAIN-ALGO has been a mainstay in TINY farming cycles, this cycle we’ve allocated our voting power to XVX-ALGO. The thought process is to drive market provided liquidity to the pair as farmers seek to earn TINY, while simultaneously offering a Vertex farm reward for XVX-ALGO on the G-App. This should be a major boost for Vertex liquidity and offer farmers a variety of high APR options to choose from.
Building
As mentioned multiple times on medium and in socials, XVX will be a key component of the G-App. We will offer it as a primary staking/farming option, offer it as reward for XVX paired LPs, and also as a reward for GAIN & partner paired LPs. This might seem like a lot, but there will only be 150 XVX tokens emitted each month. 150 tokens is equal to 15% of initial LP funding, and works out to a 3% inflation rate.
We’re excited about the Vertex launch and look forward to utilizing it creatively within our ecosystem. As we buildout our TINY treasury, we hope to maintin both GAIN-ALGO & XVX-ALGO as TINY farming options, and welcome your votes for either of the pairs in future cycles.
Record
GAIN/GAINIFY (parentheses are from S7 launch)
- GAIN price = $.0014 (2.25x)
- ALGO trading volume = 1.75M (+90k)
- Swaps = 56,600 (+15k)
- 1 ALGO = 322 GAIN (+129)
- GAIN FDMC = $154,075 (+$81,918 / 2x)
- GAIN TVL = $94,543 (+60,618 / 2.75x)
- Holders = 499 (+43, this number doesn’t include LPs or farmers)
- GAIN Liquidity Pairings = 13 >$100 (+4)
- Segments Minted = 83 (+10)
- Twitter Followers = 1,084 (-84)
- Discord Members = 260 (+30)
Vertex (parentheses = launch values)
- XVX price = $16.25 (16x)
- ALGO trading volume = 44k (+44k)
- GAIN trading volume = 24M (+24M)
- Swaps = 1,500 (+1,500)
- XVX FDMC = $88,282 (+$83k)
- XVX TVL = $16,817 ($14k)
- Holders = 79 (+75)
- XVX Liquidity Pairings = 2 > $100
Conclusion
S7 was amazing for Gainify in so many ways. We busted our butts to deliver a new website, a new app, overhauled docs, QoL Discord features, XVX, a spaces interview, and two new Medium publications. While we worked on this, the larger crypto market ripped up and retail was rejuvenated in the space. The results speak for themselves in the record above, as only one metric is down while the others rose all the way up to 2.75x in a month.
We think, and hope, that the market is recognizing the value Gainify brings to the Algorand ecosystem. We also think they’re ready to deploy their own farms and pools on the G-App. It’s an exciting time with sparks flying everywhere!
As we move into S8 with a live G-App, two tokens, and utility driven NFDs, we are beyond thrilled with what we’ve built and where we’re going. Thanks again to all our supporters who have ridden with us through 2024. 2025 is going to be our best year yet; and without Gainers, we’d be nothing.
