What is Arbitrove? Arbitrove is a piece of the Nitro Cartel ecosystem with the goal of helping Passport holders earn profits on Arbitrum. Currently, Arbitrove is also being sold for Public Sales on the Camelot platform – the leading AMM on the Arbitrum ecosystem.
So what is interesting about this project and what role does it play in Nitro Cartel’s ecosystem? Let’s find out together in this article. Before reading the article, everyone can read the article What is Nitro Cartel (NITRO)? Overview of Nitro Cartel Cryptocurrency to better understand this article!
What is Arbitrove?
Arbitrove includes many different products and the first product of this platform is ALP (Arbitrum Index Token). The ALP token will represent a basket of blue-chip tokens on the Arbitrum ecosystem including Gmx – GMX, Treasure DAO – MAGIC, Camelot – GRAIL, Dopex – DPX, Jones DAO – JONES, Radiant Capital – RDNT and Gains Network – GNS.
The operating mechanism of the ALP index product is as follows:
Step 1: Users can deposit various assets including ETH and blue-chip Arbitrum tokens to mint ALP. The casting rule is to take the latest price of the newly deposited asset and convert it to the amount of ALP at the latest price.
Step 2: Users use ALP to stake on Arbitrove to earn esTROVE and sources of profits earned from Arbitrove strategies.
Step 3: Vaults will start operating with different strategies such as liquidity provision, staking, lending & borrowing,…
Step 4: Profits from Arbitrove strategies will be sent to ALP holders, not only that, a part of the profits will also be shared with TROVE stake participants.
Development Roadmap
ALP is just Arbitrove’s first product. In the future, besides building and developing use cases for ALP, this platform will launch more index funds such as GMX ecosystem index, GameFi index, index for Liquid Staking projects. ,…
Core Team
The Arbitrove development team is the development team of Nitro Cartel. Nitro Cartel’s development team is anonymous and they only share information about their experiences. Experience of Core Team and BD Team members includes:
- Former Machine Learning engineer from FAANG.
- Extremely system engineer at one of the largest financial institutions in the world.
- Former founder of an infrastructure project on NFT.
- Blockchain analyst and researcher at a prestigious university.
- Ecosystem investors have invested in GMX, Jones DAO, Plutus DAO,…
- Former banker in the United States.
- Former BD director of a quite famous DeFi project.
- Core member of a Research DAO team.
Tokenomics
Information about Arbitrove tokens
- Token name: Arbitrove
- Code: TROVE
- Blockchain: Arbitrum
- Token classification: ERC 20
- Contract: Update…
- Total supply: 1,000,000,000
Token Allocation
- xGRAIL Airdrop: 1%
- Tresury: 9%
- Team & Contributor: 15%
- Fair Launch: 20%
- Liquidity Mining :22%
- Passport Airdrop: 33%
Token Release
For the Liquidity Mining part, users will be encouraged to participate in using the product and participate in staking with a gradual release over the next 8 years.
33% for the Passport Airdrop cannot be transferred or sold but can be staking within 6 months. After a period of 6 months, Passport Holders can be converted from esTROVE to TROVE within 1 year.
Similar to Passport Holders, members and contributors with 15% will also be locked and can be staking within 6 months. They can then switch from esTROVE to TROVE for a period of 1 year.
Summary
This is a fairly new project on the Arbitrum ecosystem, but in terms of operation, the project is similar to a Yield Farming platform. Everyone can participate in early token ownership at the Public Sale round on Camelot or continue to follow the project.
