Congruent: Bringing Governance as a Service In Early February

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DTMikeD  │  Congruent.fi – January 26, 2022

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Governance tokens are becoming one of the most sought-after items in the DeFi space.  Governance tokens within a project are the main utility in distributing power and voting rights to its users.  Since the user’s voting weight is based on the amount of tokens held, users have the ability to utilize this weight to vote on changes and projects within the protocol.  This can come with great power not only for the users within the protocol but also for the protocol itself.

Congruent

Congruent is a project on the Ethereum network bringing over $20 Million in treasury assets and a protocol designed to bring Governance as a Service.  Congruent comes to the DeFi space utilizing its Gaas token to participate in the highly lucrative and much sought-after Curve (CRV) rewards.  With the initial focus on using the treasury funds to acquire Convex (CVX), Congruent will build a strong platform for expanding into other governance tokens.  By utilizing this strategy, Congruent will not only be able to gain voting rights within these other protocols, but also be able to build its portfolio with assets that can be used to further increase its rewards through yield farming and other revenue streams.

Convex (Curve) 

Investing in CVX allows Congruent to take part in staking and locking of its held CVX.  Vote locked CVX (vlCVX) brings in a whole new avenue for revenue.  When holding vlCVX, Congruent will be able to participate and have voting power in other projects’ liquidity pools.  These pools payout bribes for voting on their pool.  The more vlCVX Congruent holds, the more voting power that can be brought, resulting in more bribe rewards paid by the protocols.  

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With Congruent bringing more than $20 Million in funds to purchase CVX, it is likely to sit with over 500,000 CVX and hold one of the top holdings’ spots among all DAOs.  This comes with incredible voting power and rewards.  With the accumulation of rewards, bribe payouts and other protocols governance tokens, Congruent will utilize these in many ways. This includes but is not limited to profit sharing with its current Gaas holders as well as being the one-stop shop service for other protocols that have a need for governance power and voting rights.

The Base Rewards Model

With Decentralized Autonomous Organizations (DAOs) and governance tokens being around for some time now, the reward models have been lucrative for some investors but damaging to others.  Rebasing rewards with high APYs have disrupted the space, which for the most part have yielded damaging returns for its investors.  Congruent aims to change this.  A more transparent, realistic, and sustainable return on investment model is coming to its users.  A model with the potential to not only eliminate inflation and create buying pressure but one that could also create a form of payout that will help reduce any form of selling pressure.  Users will have the ability to stake their Gaas to sGaas, earn a much more stable return and also be able to wrap their sGaas to wsGaas and partake in Congruents profit via profit sharing.  Income that is generated from bribes is the passive income that will be paid out to those users who chose to lock their wsGaas.  Thirty to fifty percent of all bribe income will be distributed to wsGaas holders in the lock contract every 2 weeks.

Final Thoughts

This is just the beginning for Congruent.  With current investments already in CVX, NFTs and the soon to be released game, Meta-Ash, there are big plans for Congruent in the days ahead.  From being a Governance as a Service token, creating partnerships with other protocols and many more DOA developed projects, Congruent is on the launchpad ready to go.  So sit tight and buckle up as we ignite and accelerate its multi-staged boosters on our trip to Mars and beyond.

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