How to Use Apollo DAO Dapp?
Step 1: Connecting to Apollo DAO Dapp
The first step involved in participating is connecting your wallet to the Dapp
Step 2: LP Vault Selection
The next step involves the selection of the vault you want to provide LP followed by the addition of LP tokens of the selected pair.
STEP 3: Deposit Confirmation
Once the selection has been made, the Dapp will produce a pop-up window requesting you to confirm the transaction. The Dapp requires you to confirm it and then sign the contract.
STEP 4: Portfolio
The Dapp provides you the ability to see the vaults you’re participating in, as well as the total APOLLO tokens you’re acquiring by simply accessing your portfolio (by clicking on the icon that is there on the portfolio menu bar). In addition to the Vaults, you can view the DPR and APY percentages of your earnings.
STEP 5: Community Farming
The Apollo DAO Dapp provides users the ability to participate in community farming. This essentially consists of using 10% of the rewards earned from LP tokens to purchase Apollo tokens at $0.25 per token. This token will be linear over a 1 year time period, with a 1-month cliff. The remaining 90% reward will be self-compensated.
The Apollo DAO team will be running different community events. Currently, they are in Phase 2 which is characterized by obtaining/buying APOLLO through the underlying agricultural assets of the Vaults, after depositing assets in these Apollo Vaults. This phase shall continue until all 6 million APOLLOs have been farmed, with all APOLLOs locked until the end of the event.
The money that is raised from the aforementioned event will be used to start the Warchest (explained in the next section of this post).
You can view the APOLLO tokens earned during the phase in the “Community Farming” section.
Note: After the genesis token event, participants in Phase 1 of the Community Farming Event will be able to claim 50% of their APOLLO, with the remaining 50% to be distributed during the first year. For Phase 2 of the Community Farming Event, participants will be able to claim their first allocation 1 month after the token genesis event, and the remainder will be distributed over the next year.
STEP 6 (coming soon): Warchest
The proceeds received by the Apollo DAO will be used to fund an equity pool that will be managed by Apollo token holders. Tools shall be provided to the community by the team members in order to enable the effective utilization of capital. The power will be vested in the token holders to decide which farming strategies are to be implemented using Warchest.
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