Before we get started, DeFi Dad disclosed that his team 4RC does hold a position in EnterDAO. This is not a recommendation or endorsement to buy ENTR, but it is intended to disclose any bias he might have in talking about EnterDAO’s new liquidity mining program.
The concept of the Metaverse is becoming mainstream, partially due to the growth and evangelism of the DeFi and NFT communities. These early protocols are shaping the applications and tools necessary for a virtual world that resembles the rules, laws, incentive structures, and cooperation of our physical world. One particularly interesting and recognizable part of the blockchain-based virtual world is scarcity of virtual land.
In places like Decentraland, you’ll find communities that resemble the makeup of your own neighborhood, city, region, etc. People come together, form relationships, own stuff (NFTs), and make a home or at least choose to frequent particular places they can gather with friends. Just like our physical world, this creates a need and hence scarcity of land.
And so if we can imagine the virtual world (the Metaverse) mirroring our physical world, then it makes sense that many more parallels will arise in this virtual world such as a desire to own or rent land, which is where EnterDAO comes into play!
EnterDAO is the first DAO on Ethereum with the mission to build products enabling new markets within the Metaverse economy. Through a lineup of core products EnterDAO aims to empower users, Metaverse land owners, investors, brands and degens of all kinds by tackling pain points like access to Metaverse land, its capital efficiency, as well as UX and onboarding of Metaverse games. One particular product being built, LandWorks, can be likened to an Airbnb or Zillow for virtual land.
LandWorks is a Metaverse land renting marketplace based on Ethereum and is part of the portfolio of products developed and maintained by the EnterDAO community.
The marketplace enables period-based renting of land in Web3 Metaverse games. LandWorks will start off with Decentraland and then gradually expand to support other blockchain-based virtual worlds. It will enable landowners to earn passive income on their assets, while renters looking to leverage Metaverse games will be able to easily rent instead of buying virtual land properties. LandWorks is anticipated to launch in November/December 2021.
To read more about EnterDAO and the team and mission behind it, check out their whitepaper.
While EnterDAO prepares to launch, they’ve launched yield farms to begin distributing their native governance token ENTR to those interested in the future of EnterDAO as a protocol. The farms have attracted just over $48M in TVL. One can stake any of the following tokens to earn a share of ENTR distributions via weekly epochs for the next 19 weeks. One must remain in each staking pool through the end of the weekly epoch before claiming earned ENTR.
- ENTR
- SUSHI
- XYZ
- BOND
- ILV
- MANA
- AXS
- SAND
Today, I’ll focus on the USDC/ENTR LP in SushiSwap, which is earning an estimated 7,014% APR based on an ENTR market price of $5.27. Caution: These numbers and hence APR will fluctuate a lot in the coming weeks and continue to come down as more liquidity deposits.
How to Earn Up to 7000% APR Staking in Universe Protocol
Before we get started, please be aware of a few major…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
