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Decentralized network for guaranteed automatic transaction execution and off-chain computations.
PowerPool is a DAO running an automated smart-contract execution network, automated Defi products on top of it, and facilitating integrations of other protocols/DAOs with the network.
PowerAgent is a permissionless network for automating smart-contract executions allowing to launch and operate automated Defi products with complex strategies.
PowerPool was launched in 2020 without traditional VCs or investors, pioneering the concept of meta-governance for accumulating voting power in third-party protocols. Right from the beginning, our community guided us to update our vision to an ETF-like basket of tokens - ‘Power Indices’. In partnership with Yearn, PowerPool pioneered the introduction of automated vaults for the optimization of extrinsic yield with Yearn Lazy Ape ($YLA).
Around that time, we launched PowerAgent V1 to serve as the decentralized automation tool.
Thanks to PowerAgent, we were able to create a number of successful automated products - YETI, PIPT, ASSY, accumulating a total of $20M TVL by the end of 2020.
However, building specialized automation solutions for each product is not the way to go. The industry requires a generalized automation solution. A lot of protocols already use automation solutions “under the hood”. It performs such tasks as protecting users from liquidations, compounding LP yields, rearranging fund positions, issuing notifications, automating governance procedures, and more.
The automation market is rapidly growing. We believe that in 3 years, 40% of all transactions will be signed by automation providers.
Over the past few years, it has become very clear that using standalone bots is not the best option for DeFi in general. Not only because such a solution is usually more time-consuming and expensive, but also because it introduces a centralized element into the protocols. This sacrifices the security and robustness which are the core values and inherent to the blockchain.
A proven way to achieve reliable smart contract automation without sacrificing these core values is to use a large-scale, decentralized, and permissionless network of automation agents - Keepers. And that’s exactly what PowerPool did - we created the PowerAgent Keepers network.