2022-03-01 17:56:00
[
Bright Risk Index Progress Update]
Hi Bright Ones,
The Bright Risk Index TVL is now at $ 135k, meaning our next milestone of 150K is 90% completed! Read more here about the controlled launch of the index: https://brightunion.medium.com/the-bright-risk-index-is-open-for-early-access-32f196628308
The early access investors are earning an APY of 33% on stable coin investment. Every $BRIGHT token holder and $BRI investor is contributing to the success of the DeFi insurance ecosystem.
Thank you for those who've put trust in us and entered the early access phase of this new instrument.
The audit process for the BRI is ongoing and we are currently working to improve the liquidity of the BRI to allow users to interact more freely with the index. Next week we'll connect the entry and withdrawal pool, which allows users who wish to invest, the chance to swap with those who wish to withdraw in an efficient and instantaneous manner. Further opportunities for a better liquidity of BRI will be presented at a later stage.
When the last stage of the product release has been reached ( TVL 300K) we are planning buybacks of the $BRIGHT token with a portion of the earnings from the BRI. This will reduce the supply of $BRIGHT and boost the price for remaining holders. The Bright team would like to hear your opinion on this. DAO members can vote on the percentage of earnings to be utilised for this. Keep an eye out on our channel to cast your vote (or specify date of voting day).
The Marketing team is preparing a Product Hunt launch to bring the BRI under the attention of a wider audience. To make this launch successful, your help (upvotes) are needed! More information will follow soon
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