Thread by @0xRafi

1/ $SOME @MixsomeCash (mixsome.cash) is a promising project that will be coming out soon.

Mixsome will be a user friendly, low-fee solution to go from fiat onramp to deploying complex DeFi strategies in a few clicks, making DeFi more accessible to the general public.

2/ Mixsome will allow the execution of investment strategies (“DeFi flows”) by wrapping up multiple transactions into a joint transaction executed by a single smart contract. And where it gets very interesting is that Mixsome will use xDai to execute part of these transactions

3/ By using xDai, they will drastically reduce gas fees for users. A strategy that would usually involve 3 or 4 gas hungry txs on ETH L1, will now involve two simpler bridging txs (to get in and out of the xDAI sidechain) and all the remaining complex txs will happen on xDAI.

4/ An example of DeFi Flow would be: swap ETH for DAI -> deposit DAI into Curve to get yCRV -> deposit yCRV into yearn to get yUSD. Doing all this in a single, low-fee wrapped tx will not only save a lot of gas fees, but will also make the whole process a lot more user friendly.

5/ Imagine showing a no-coiner friend that they can go from fiat to USD stablecoins on curve/yearn earning 15%-20% APYs with a few clicks, and without ever needing to get exposure to more volatile crypto assets!?

Imo this is how we get the next wave of #DeFi adoption.

6/ In addition to the DeFi apps mentioned above, and other bluechips such as Aave, Compound, Uniswap, etc, Mixsome announced today they will also integrate with @BadgerDAO, opening up the whole world of DeFi lending/staking applications to Bitcoin holders.

7/ Mixsome’s WP mentions that over 200 DeFi tools will be available for creating strategies resulting in literally millions of possible combinations. Therefore users will have access both to standard strategies offered by Mixsome, and can also create their own custom ones.

8/ $SOME will be Mixsome’s governance and utility token (giving access to exclusive features to token holders) and will also be used for staking/liquidity mining. Max supply is 127.5M tokens, initial circ supply will be 8.6M, and initial circ mcap $990k excluding AMM liquidity.

9/ The $SOME token Allocation Mining Event (AME) will start on April 16th on @LaunchPoolXYZ. In this interesting new approach by LaunchPool, each participant’s allocation will depend not only on the amount of $LPOOL tokens they stake, but also on how long they stake.

10/ This AME (through which 6.5M tokens will be sold), will be followed by a smaller public sale for 1M tokens on a date still to be announced. A V1 Mixsome app will be released on testnet right after the IDO and token listing, including 3 pre-defined DeFi strategies.

11/ Last but not least, Mixsome is backed by some major funds including @cmsholdings, @capital_spark, @GenblockCapital, @Blocksync_VC and others. Very high caliber backers considering this is still a relatively under the radar project (for now!)

12/ A few links:
-Whitepaper: mixsome-cash.gitbook.io/mixsome-wp/
-Badger integration announcement: mixsome-cash.medium.com/mixsome-and-ba…
-Launchpool AME details: mixsome-cash.medium.com/mixsome-announ…
-Detailed Tokenomics: drive.google.com/file/d/1dpYQt1…