1/ @pylon_protocol is launching in a few days to make @anchor_protocol yield programmable 🧡
2/ Recall that @anchor_protocol's goal is to create a stable reference yield across blockchains - we declared an ambitious goal of posing a decentralized challenge to the federal funds rate.
3/ Since then, we've seen an explosion of new projects leveraging this stable yield:

- @YottaSavings in TradFi
- @orion_money to bring Anchor to other blockchains
- @angelprotocol for lossless giving
- @alice_finance, @Saturn_Money @TiiikMoney for retail
4/ Anchor's developer ecosystem proves what we've been saying all along about DeFi: programmability is king.

mAssets in @mirror_protocol allow every asset under the moon to become programmable

Pylon's mission allow the already attractive Anchor rate to be easily programmable.
5/ @pylon_protocol's first use case is Gateway - a token launch platform in the Terra ecosystem.

It allows for lossless investments - buyers deposit $UST to farm tokens for new projects, and developers secure runway via the resultant Anchor yield.
6/ Gateway is just a start. Pylon can direct anchor cashflow in any way expressible by a smart contract.

On Terra, this means any way imaginable.
7/ It turns out Pylon's payments by cashflow is superior to one off payments by principal:

Users can:
- Directly influence direction of DAOs by voting with their cashflow
- Prove loyalty by a history of staking to creators
- Influence story direction in episodic content
8/ One of the most interesting problems in crypto is scaling incentives over time and number of participants in DAOs -

@pylon_protocol is to date the most expressive and novel attempts to solve that problem to date.

Countdown soon.

β€’ β€’ β€’

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More from @d0h0k1

23 May
1/ It’s interesting that cockroaches only come out when the night is darkest.

This thread should help you understand what’s been going on & how the protocol(s) have responded recently:
2/ The Terra economy continued to be put under extreme test, with both Terra and Luna undergoing sharp contractions. Remember that idiot in the tg rooms that used to ask β€œwell, what if everyone starts selling stablecoins and Luna at once?”

That scenario has indeed happened.
3/ First and most important: $UST stability - how did we do?

Recall that Terra’s stability mechanism allows arbs that manifest when price($UST) - $1 < swap_spread

$UST price has indeed been trading at _exactly_ the on chain swap_spread
Read 18 tweets
20 May
1/ It's been an interesting 24 hours:

TL;DR - vote on this: station.terra.money/proposal/82

Read the thread before you vote YES or NO
2/ All @terra_money systems were severely put to the test - $UST peg, @anchor_protocol solvency, core infrastructure ...
3/ Anchor probably had the worst bloodbath, as it is currently the only protocol that relies on leverage. Overview of the last 24 hours here:
Read 12 tweets
7 Apr
1/ Lots of newcomers in the @terra_money ecosystem, so this 🧡 is all about the πŸŒ•
2/ The most important function of cryptocurrency has been that of currency - a function best captured by the stablecoin.

If other assets play the role of equities of various disparate ecosystems, the stablecoin plays the role of money - forming liquidity, savings, and MoE.
3/ The stablecoin has found the strongest PMF in crypto by any metric - usership, ADV, and tx vol.

$USDT, $USDC, $DAI have been leading.

Yet no stablecoin before @terra_money has managed to form loyal communities - there's no asset succinctly capturing value.
Read 9 tweets
29 Mar
1/ Let's talk about ETFs🧡
2/ Earlier, I noted that the launches of @mirror_protocol and @anchor_protocol completes the MVP launch sequence of @terra_money stablecoins.

You can now pay, invest, and save using Terra stablecoins.

But we are far from done.
3/ In traditional finance, ETFs are huge. Passive investing via ETFs dwarf active investing in single stocks - trillions and trillions of dollars.

Single stocks are signals, ETFs are narratives.
Read 9 tweets
23 Mar
. @bytemaster7 I know you're job searching rn, so just letting you know we have internship positions open at Terraform Labs.

All jokes aside, happy to answer @terra_money's stability mechanism on this thread.

Long live the king of algo stablecoins πŸŒ•
Reposted to tag Dan's correct handle and for maximal antagonization
1/ For those of you looking in for the first time, here are some resources:

White paper: terra.money/Terra_White_pa…

Primer: medium.com/terra-money/in….
Read 12 tweets
17 Mar
1/ Dear Lunatics,

After much drama, @anchor_protocol is now live.

2/ This is a behind the scenes story of what happened behind the launch.
3/ At around 4:50 pm KST, we noticed a meaningful scale DDoS attacks against Terra Station's public nodes, while at the same time attempts to swap into the yet unfunded ANC-UST pools.
Read 9 tweets

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