ApolloDAO is a yield optimizer built on Terra. The team's current focus is on auto-compounding, however over time the team will develop more advanced strategies. Additionally, ApolloDAO seeks to be fully cross-chain and will build upon other chains like Cosmos or Solana.
The global team of 12 consists of a mixture of full-time and part-time individuals that met at the Delphi hackathon earlier this year.
Read the full transcript below to get a sense of why ApolloDAO chose to develop on Terra first, how the team thinks about community, and how their war chest will make Apollo token holders participants of a decentralized asset management fund.
Adam Patel | DeFi Alliance: What's up ApolloDAO team! Super excited to have y'all here today. If you guys can do a quick intro and maybe one of you touch on how you came together as a team that'd be awesome
Guy | Apollo DAO: Hey Adam, thanks for having us here. Apollo DAO is initially building a Yield Optimizer on Terra, starting with auto-compounding and moving to more advanced strategies. We will also be looking to move beyond Terra and be fully cross chain.
There are 12 co-founders and we all came together during the Delphi hackathon only a few months ago, but have been following DeFi and Terra as a team for a while.
On here today, we have myself, AnonIntern, Mike and Pablo.
Will Robinson | DeFi Alliance: How the heck do you manage organizing 12 people?
Pablo | Apollo Dao: Degen farming.
Guy | Apollo DAO: I would say the main thing is just communicating what we are up to. We have a lot of people, but each covers different areas and has their own specialization, so works really well. Also as everyone is a co-founder, we have found everyone to be very aligned with the project.
Ryan l Apollo DAO: we have a worldwide team so theres always something happening 24/7 lmaoo.
Will Robinson | DeFi Alliance: What happens when someone slacks off? How do you police internally?
Guy | Apollo DAO: So not all founders are full time, we currently have 4 full time, with 3 more full time coming on over the next couple of months. There is definitely more expectation on the full time people to not slack off, and we have daily catch up meetings to make sure we are all aligned and then a larger team meeting once a week, where we discuss what we accomplished and plans/goals for the next week.
Jacob Franek | DeFi Alliance: What other chains are you looking at and how are you guiding those decisions? I'm sure it isn't easy! Similarly, why did you chose to build on Terra?
Guy | Apollo DAO: Yeah, great question. In terms of choosing chains one of the main considerations is being able to utilize our Dev's Rust programming skills, whether this is Cosmos or Solana (despite some difference, there is a lot of overlap).
In terms of why we chose Terra,
Really impressed by the development and the development community, especially the desire to build and collaborate with other projects to bring the most value to Terra.
I am a big fan of decentralised stablecoins as I believe without one, it is very difficult to have DeFi.
The vision of bringing DeFi to the masses, and it’s easy to use experience
Andrea Santichio | DeFi Alliance: If I had to explain to my grandma what is so unique about Apollo Dao, what do you think I should say?
Ryan l Apollo DAO: A bank built on money nobody can freeze.
Adam Patel | DeFi Alliance: To add to Andrea's Q: what differentiates you guys from other yield aggs/optimizers?
Guy | Apollo DAO: I think being built of Terra helps us to be able to do things that aren't possible on Ethereum, especially around gamification. I would also add that with Terra there are a number of product/tools that aren't available, so by building these we can both dive useage of Apollo products and help the ecosystem. We are looking to create a full treasury management platform that would integrate into our yield platform for example.
I think also the way we will allow our token holders to manage and deploy our "warchest", which is all the revenue made through our products can add a lot of user/community engagement and also generate great returns.
To begin with we will just have simple things like leader boards and NFT that boost yields.
Longer term, we will be looking more deeply into how we can continue to reward the community for building and getting involved. Such as having tokens that are non , but provide discounts or bonuses.
Ryan l Apollo DAO: Yes, and I think that partnerships and relationships are really important in the community so we have been active in the luna community and we talk to a lot of the other founders of the protocols and planning to sponsor some community events starting in NYC in collaboration with a few of them so the developer community on terra is pretty connected.
So building the community is half the battle as well as building a product.
Andrea Santichio | DeFi Alliance: Do you guys do it all on your Discord server?
Guy | Apollo DAO: At the moment it is all on the discord server, but as we release the token, we will be looking at more metrics we can track on-chain. Staking time, interactions, as well as the off-chain meti.
Adam Patel | DeFi Alliance: Can you tap into the wrapped savings products you guys touched on briefly? What does that look like?
Guy | Apollo DAO: Yeah, so this is definitely more of a long term idea, but basically it would allow a user to come to the Apollo platform, and in the simplest way, just deposit UST and specific a "risk level", and their money would be deposited into a number of different predetermined vaults, with the best yield matching that risk profile, and wrapping this savings product into one token (probably an NFT).
A more simple way would be something like combining a range of delta neutral strategies into one wrapped saving product. The rewards would then be compounded back into the position too.
Ultimately it would really be able making it simple for users, while potentially doing more complicated stuff behind the scenes to ensure we can keep providing great yields.
Adam Patel | DeFi Alliance: this all sounds great. Can you touch a little on the "Apollo DAO Warchest"? What is it? How does it grow (i.e. what % of revenue of protocol flows into it)? What will the Warchest be used for / consist of?
Guy | Apollo DAO: Great, thank you. Of course. So with the Warchest, nearly 100% (1% of profit goes to Angel protocol) of all revenue generated by Apollo DAO products will go to bootstrapping it for the first 3 years (or until token distribution ends).
To begin with it will be 80% Luna and 20% aUST, but this is really to give our token holders a blank canvas. Initially they will be able to vote on which would be the best farming opportunities to deploy the capital, deploy it on Apollo, change allocations to other tokens, enter private and public farming for token releases on Pylon etc. - so lots of opportunities on Terra for it atm.
It will also be used for Apollo token buybacks at certain price points. Long term token holders will have increasing ability to vote on how to deploy the capital, moving beyond farming on Terra to other chains and potentially even utilizing centralized methods of generating returns. We would also be looking at stuff like using to bootstrap validators on a variety of networks.
Adam Patel | DeFi Alliance: Wow so this makes Apollo token holders participants of a decentralized asset management fund (on Terra) right?
Guy | Apollo DAO: Yes that is correct. We will also be looking to take this fund and invest in other L1 chains and their assets as soon as possible as it would greatly reduce our reliance on just one network, and I think really help the long term prospects.
Adam Patel | DeFi Alliance: Amazing. The decentralized asset management narrative is becoming more and more popular for sure as treasury's begin to get larger and larger for various protocols.
Wanna switch gears to the community -- you guys have mentioned a few times how vibrant your community is on medium posts and whatnot -- can you touch a little bit on that? What helped cultivate the community you guys have?
Guy | Apollo DAO: Yeah, I think we have been quite lucky as the Terra community have been exceptionally welcoming as well as the Solana community too. I definitely have to hand the community building credit to Ryan though. As we have always aimed to build a DAO, we knew we would need a strong community. Initially that was built through a mix of Memes and more serious achievements like the Delphi Hackathon and getting into DeFi Alliance.
But I would say we have aimed to reward our community for getting involved and a number of people who started as community members then became the team, so definitely doing a few things right.
But very early days in regards to the community and we will be keen to reward them for engaging with us and generally driving the project forward.
Adam Patel | DeFi Alliance: shoutout Ryan l Apollo DAO for the community efforts.
Guy | Apollo DAO: We do have an ongoing community program too, which will be aligned with the Leader board mentioned* earlier, which will aline with rewarding the community as well as for specific achievements.
Adam Patel | DeFi Alliance: mmm can you touch on this further? How can people get involved with the community? what are the benefits in being part of the community early?
Ryan l Apollo DAO: Yeah we started building the discord community as soon as possible was one of the first things we did.
Adam Patel | DeFi Alliance: wen og ser?
Ryan l Apollo DAO: Soon TM.
Adam Patel | DeFi Alliance: Haha. Can you touch on what the OG role is perhaps, and why you guys are creating this unique structure?
Ryan l Apollo DAO: Originally it started from engaging in the discord during the hackathon.
Guy | Apollo DAO: So we have our "OG" program - although considering a new name. The idea is that is isn't just for new members and will have a number of metrics so it can be actively measured. These will range from helpfulness in Discord, interacting with our Twitter, joining our Alpha, entering some of the competitions we have coming up and more.
So at first it was making memes in the very start, then it was community managers, then people that wanted to get involved so its a good way to get, now we have a lot of members helping us with partnerships and other smaller stuff that we want to have some way to incentivize helping to build it.
We are looking to split this out further into 3 tiers, with increasing rewards as you increase up tiers, however you can go the other way too.
Adam Patel | DeFi Alliance: I love that it induces fomo to incentivize other community members in being more active. The most beautiful thing is having community proactively go and do work for you.
Andrea Santichio | DeFi Alliance: How do you guys track the engagement and the quality of engagement of your community members on Discord?
Guy | Apollo DAO: Most of it is through bots, such as "Statbot", but I did end up reading a lot of messages to make sure people weren't just spamming. You can click into each user and see how many messages they sent, how long they spend on voice chat, which channels they interacted in, how often they message etc.
Ryan l Apollo DAO: So there was no real way for the bot accounts to game it since it was initially much more random than just joining the discord.
Adam Patel | DeFi Alliance: The strongest moat arguably is having a strong & engaging community.
Guy | Apollo DAO: Completely agree.
Andrea Santichio | DeFi Alliance: What are the profiles of the types of people who engage the most?
Ryan l Apollo DAO: So we have the Apollo vaults which are the contracts but we also have plans to create multiple front ends for our different users which still connect to those same vaults, so on discord it really ranges but most of them are crypto native or work in the crypto world.
I would say its mostly users/individual farmers that are most active.
We also have a network of investors with lower risk appetite and would be more comfortable with a simpler interface that doesn't expose some of the riskier vaults for that community.
Adam Patel | DeFi Alliance: So you guys have a strong community and a pretty detailed roadmap of how you guys wanna execute things which is great. The big question here now is wen launch sers
Guy | Apollo DAO: Ha, very soon! We are currently going through audit, then will be Alpha release, which will lead up to our community farming event, which will last until full platform release.
Ryan l Apollo DAO: yes we started the audit about 2-3 days ago.
Adam Patel | DeFi Alliance: ooo got it so things are moving along. Thats great. So before we wrap things up -- you guys just wrapped up Cohort 4 of our accelerator program! What was the best thing about being part of the program?
Guy | Apollo DAO: For me it was definitely just being part of it. I learned so much from all the talks and office hours and found them all fascinating, whether they were directly relevant to Apollo or not. Also having the chance to meet all the projects and their teams was amazing as well. For Apollo, the contacts such as LPs and market makers that we got to meet was perfect too.
I think also the ability to ask questions was just such a great help early on too.
Adam Patel | DeFi Alliance: So glad to hear you guys enjoyed. It's been a pleasure to have you guys for this AMA. To finalize things -- where can people learn more about you guys? Where can they connect with you guys on twitter/medium/discord etc. If you can link those resources that would be awesome
Guy | Apollo DAO: Discord is probably best to start: https://discord.gg/BcdvhgKpTd
For more info we have our Medium:https://apollodao.medium.com/
Website: www.Apollo.farm - website is currently bring updated though.
Adam Patel | DeFi Alliance: Awesome. It was great having you guys and we are 100% looking forward to following along the journey!
Guy | Apollo DAO: Thanks so much, really appreciate you having us on. Thanks for all your help and for everything!
Pablo | Apollo Dao: Thank you Defi Alliance!
Ryan l Apollo DAO: Yeah was a ton of fun to be in the cohort I learned a lot! It was cool to meet everyone and get the chance to ask them questions!