The IPOR Protocol is witnessing spectacular growth

Since it was successfully launched on the Ethereum mainnet, the IPOR Protocol has witnessed enormous growth. This launch actually occurred on August 16, 2022. The protocol slowly but surely happens to be moving from its present caretaker phase to that of becoming a DAO-governed protocol. 

Since their very inception, IPOR-oriented interest rate swaps have successfully carried out activities related to trading an amount that now exceeds $1.5 billion in terms of notional value. Along with that, the associated community is said to have grown to 16,000 active and connected users on Discord. It also boasts of having a following of 10,000 on Twitter. 

To add to all of that, it has been closely connected with more than 550 liquidity providers (LPs). Three hundred  individualistic swap takers have also had interactions with the protocol. A protocol snapshot was taken regarding all mainnet activities that took place over the five months since its inception. This was based on the overall activities related to the users as well as the community’s participation.

It has been five months since its launch on the mainnet, and the IPOR protocol is slowly but surely moving away from its role and position as a caretaker and toward becoming a DAO-governed protocol. As per the very nature of DeFi, a preliminary disbursement of IPOR tokens will be made to all of the Protocol players who have earlier connected with it and participated in activities related to the community, along with standing by it. In this case, the DAO will make it possible for the token holders to make decisions related to matters of overall importance where the development of the protocol is concerned. This will include issues such as updates, proceeds, maintenance, finances, and others of this nature.

IPOR, for its part, happens to be boosted by various community members. They vary from being liquidity providers to being traders and scholars. There also happen to be builders and amplifiers. They all seem to have interactive sessions with both the protocol and the community daily. Those who manage to attain the title of “Citizens of IPOR” are the ones who have significantly contributed to all matters of community improvement.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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