April 2024 Update

The Contrax Team
3 min readApr 11, 2024

Hey Contrax fam! We are still going full steam ahead. The headline of this month is the approval of our 39k (~60k USD) request from the LTIPP council, we just launched our first PeaPod Vault integrations, and ran our first major xTRAX distribution campaign, with TRAX holding 4,300 actively participating holders!

Contrax LTIPP Approval! 💰

As you can tell from our current Snapshot vote, Contrax is well on its way to pass and be approved for our 39k ARB request. These ARB will allow us to add ~50% APY for $1 million in TVL, and another ~15% in ARB rewards to all vaults! Not only that, but many of the protocols we are built on will also be emitting ARB rewards, which Contrax can auto-compound for them, leading to potential triple-digit APYs on most of our vaults! This is expected to start sometime in April. Get in on vaults now to be in place to claim these rewards!

Contrax X PeaPods Integration! 🤝

Contrax just concluded a space with PeaPods (with 3.5k tuning in!) and has integrated the first 3 vaults for ap assets, and will continue to integrate more vaults including auto-compounding LPs. PeaPods has made it clear that they think Contrax provides an unbeatable UX experience for using their pods, and we can’t help but agree! Listen to call here, and go to our beta to see the vaults and start earning now, here.

xTRAX Giveaway gets us to 4k Token Holders! 🔥

Contrax has just given away 1 million xTRAX tokens to active DAO contributors! Over the last 10 days, we had a giveaway for 1m TRAX to those that helped grow our socials and community, and the effect was immediate and amazing! Not only do we have huge social media boosts (15k on X and Telegram, 8k on Discord), but our community is more lively than ever. The giveaway was oversubscribed by 6x! We love the enthusiasm, and we will continue to have more opportunities to earn xTRAX in the future.

We used spam and sybil filters to ensure that all the distributed xTRAX goes to real community members. If you want to see if you won, check out the winners sheet, here.

Next Steps for Contrax 🎯

  • Integrations Continue: Contrax is expected to integrate Steer protocol within a week, and we will continue on with Origin and others shortly after. All projects looking for UX improvements are welcome!
  • DAO Seed Round Start: We are still finalizing details related to the seed round, but we are actively speaking with interested investors, and will start the actual seed round quite soon! We will likely have another proposal up
  • Token 2049 in Dubai! This is just around the corner, and Contrax will be attending! We expect to continue to make the connections needed for filling the Contrax seed round, while also meeting other projects that we can integrate, or they could help us grow.
  • LGE Exploration: Alongside the seed round, the tokenomics committee has begun exploring LGE options and launch pads. We are still early in the search, so definitely stay tuned for any updates in the near future.

Join Our Community 📢

Join our Discord and contribute your ideas.

Follow us on Twitter to hear updates right away.

Start earning APY and xTRAX tokens on your crypto here.

--

--

The Contrax Team

Contrax provides DeFi scaling tools to new and existing projects. Check it out at www.contrax.finance