Strudel Update: All Governance Systems Go!

At last, the Strudel governance update has been activated, allowing gTRDL holders to automatically earn a fixed interest rate on their Strudel Token (TRDL) deposits. This is the culmination of weeks of development effort and proxy contract interactions that we have been grappling with. Now we have a solution for long-term TRDL holders to have a voice in governance while avoiding impermanent loss and earning interest on their investment.

How the Contract Works

Unlocking gTRDL after the period ends returns the deposited TRDL tokens back to the user and mints TRDL rewards. The reward received is NOT equal to the gTRDL balance, but depends on a formula that accounts for the length of the lockup and the size of the position. Smaller lockups and longer deposits get extra rewards. The reward distribution can be seen in the graphic below

The interest gained on TRDL deposits starts at 10% for a 100 TRDL deposit for 52 weeks and tapers down as the amount staked increases. This ensures we can guarantee a fixed rate to all users who wish to be more involved with the TRDL community.

Note: There was some miscommunication within the developer team in the early stages of development for this contract that led us to believe that the gTRDL balance was equal to the TRDL unlock reward. Since the front end is ambiguous on this fact, early users are expecting a much higher reward than what is actually implemented. In order to reward early users of the gTRDL contract we will honor the rate shown in gTRDL balance for deposits made before July 1st, 2021.

Governance Roadmap

We are currently in the initial stages of development for these products and welcome input from the community in ways that we could generate value from our protocol’s assets. Our goal is to turn TRDL into an even more productive asset by leveraging both Bitcoin and the interchain.

-Ataxia

Strudel Finance is the first and only one-way, trustless bridging protocol linking Bitcoin (BTC), Bitcoin Cash (BCH), and other centralized assets to DeFi.