New Fields on the Horizon
Portfolio Margin will unlock the Superchain, airdrops, flight school, and more collateral types 👀
“ Necessity is the mother of all inventions”
The Future of vePHAR
This week is a historical moment for the Pharaoh community. vePHAR has been a staple of 40acres for over 3 months now. We have facilitate over 1.5million in loans and processed over half a million rewards for vePHAR users. This partnership has been a huge success for both us and the Pharaoh ecosystem.
We thought this change would be the end of our partnership. After many discussions and too many all nighters to count we were able to build a viable and scalable solution to provide loans to ANY yield bearing asset. xPHAR will be the first to make the transition to Portfolio Accounts.
What are Portfolio Accounts
Portfolio accounts are owned by a user’s address, and any assets within a user’s portfolio can only be transferred by the portfolio owner. Portfolio accounts only allow a specific list of actions like claiming, repayment, and voting. The assets within the portfolios have no other approvals or allowances. This architecture allows 40Acres to expand its functionality to support a variety of use cases, including Superchain, airdrops, flight school, and more. Additionally, this opens up the use of ANY yield-bearing assets as collateral on 40Acres, such as veNFT, X33, ERC20, and ERC4626. 👀
This is a huge moment, and we will be migrating every market to this style of accounting. xPHAR will be the first and will begin migration early next week, prior to the Oct 15th epoch flip.
OP Incentives Update
40Acres received an OP Growth Grant for 200k OP to be distributed over a 12-week period. The current breakdown of distribution is as follows:
66,000 OP will be distributed per month
26,400 OP will be distributed to veAERO borrowers per month
26,400 OP will be distributed to veVELO borrowers per month
6,600 OP will be distributed to the USDC lending vault on Base
6,600 OP will be distributed to the USDC lending vault on Optimism
While we wait for final approvals and integrations, we know a few markets need a little help right now.
That is why we are excited to share that we will be directly incentivizing the USDC vault on OP with $1,000 of USDC per week for the next 4 weeks starting today.
The Wrap Up
In just eight months, 40Acres has grown from an idea into a platform that has underwritten over $16 million in loans, processed more than $5 million in repayments, for over 5,000 users. With Portfolio Accounts, we’re opening the door to the next chapter of 40Acres. One built for scale and expansion.
The harvest is strong, the fields are plenty, and the mule’s still got miles to go. 🌾🫏
~ChatGPT 5.0