Time for an update: as you can see the consensus check regarding whether to incentivize $UNI liquidity on L2 has PASSED.

I couldn’t be more excited. This is what makes the Ethereum community so special imo.

Together we can achieve literally *anything*.
It's also bullish for decentralized governance imo.

I haven’t spoken to the Uniswap team once about this proposal.

I am a normal user who had an idea and mobilized support to make it happen.

Ofc this vote has not passed yet. Far from it.
The final on-chain vote is where shit gets serious.

But we’ve made big progress and are receiving a lot of support from all sides to finalize the proposal.

@guil_lambert contributed good ideas to avoid single-ticker LP's raking all the rewards at the cost of smaller LP's.
The idea is to determine a reasonable min.width that the LP range needs to satisfy.

The width is calculated so that it's unlikely that a user will have to re-balance their position often.

And we would still get *much* better liquidity than in Uniswap V2.
@dmihal is hacking some changes to the Uni V3 staking contracts that will implement these changes 👑

big thx to @kaiynne & @snxambassadors for giving us a small grant to fund David's work and future deployment costs

github.com/dmihal/v3-stak…
also thx to @HopProtocol for supporting me and letting me work on this proposal during my work hours

if you want to help we need two things:

1) a designer that helps us build a kick-ass UI for the staking

2) an auditing firm that can look at David's code changes
If we get help on these two things i'm pretty sure we can get the vote on-chain mid January and kick-off liquidity mining shortly after if it passes 🚀

#L22022 lfg

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with lito.eth

lito.eth Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @litocoen

1 Dec
Did a list of projects on Optimism recently so doing same for Arbitrum now and will continue adding to the thread when I see new projects

@PremiaFinance just launched a really nice option trading platform

250% projected APR for LP'ing $ETH into the option pools + 30% $PREMIA 🔥 Image
also loving @GMX_IO a perpetual exchange that allows you to trade $BTC, $ETH, $UNI and $LINK with up to 30x leverage

Top UI/UX

They currently do around $4m in monthly revenue, 100% of which goes to $GMX and $GLP (the liquidity token) stakers 👀 Image
@Treasure_NFT is quickly becoming the de-facto NFT marketplace + metaverse on @arbitrum

they are building a whole game around @SmolBrainsNFT and other incubated NFT collections

community seems super vibrant, apparently it's catching the attention of some big VC's as well ImageImage
Read 14 tweets
30 Nov
I have re-submitted the proposal for @uniswap to incentivize liquidity on L2, this time for Stage II of the governance process.

As such, the proposal is much more concrete laying out all the details of the liquidity mining such as length, no. of assets and how to reward 👇
The proposal strives to achieve two goals:

I. Kickstart L2 adoption by incentivizing users to bridge and shift their DeFi activity to L2’s

II. Offering deep liquidity for key pairs on L2

Number I is super important to understand this proposal.
If the goal was *just* to achieve deep liquidity we could have chosen a standard Uni V3 liquidity mining program a la Ribbon

This would get us good liquidity on L2 but most normal LP's would only receive a tiny share of rewards

Read 12 tweets
8 Nov
Optimistic Rollups like @arbitrum and @optimismPBC have been been battle tested for months, it's time to accelerate, it's time for a mass migration to L2.

I have published a proposal for @Uniswap to start a liquidity mining program on Ethereum L2's to kickstart adoption 👇🧵
he's right why are there no megastar apps on ORUs yet?

in my opinion it comes to down to 3 things..

1) missing incentives

Networks like Avalanche, Celo and Near are spending hundreds of millions of dollars to attract developers and users.

ORU's can't do the same but DeFi protocols sit on *massive* treasuries and could do it instead.

coindesk.com/tech/2021/11/0…
Read 12 tweets
15 Sep
i see many people referring to @HopProtocol as the best option to *deposit* tokens from L1 to @optimismPBC

while it can happen (often) that Hop is cheaper for L1 -> L2 deposits, it's not it's strong point

it's main USP is direct L2 <> L2 transfers and fast exits from L2 -> L1
this being said it can often happen that even L1 -> L2 deposits are cheaper using Hop

for example, right now there is positive slippage if you send which on this $10,000 $USDC transfer gives you a $10 premium

the suggested gas fee on @MetaMask is $36

total cost: $26 Image
now on gateway.optimism.io there is no market maker fees whatsoever

the gas fees = total cost

total cost: $32.49

so in normal circumstances the optimism bridge is a tiny bit cheaper gas-wise because there is less computation involved Image
Read 8 tweets
9 Sep
$100 swaps > $5 swaps > $0.1 swaps

L1 > ORU > ZKRU

I do think Ethereum will get there but it will take time.

As Ethereum becomes cheaper, the use cases and user groups it can cater to will expand massively.
i encourage people to zoom out when they think ethereum is doomed because of gas fees

L2's still have their training wheels on but already have TVL's in the range of many ethereum killers

wait until the defi blue chips roll out liquidity mining on L2 and this chart will go nuts
people are worried about UX and liquidity fragmentation but have you seen the process of depositing to @dydxprotocol?

it's a simple deposit transfer from L1 similar to depositing to a centralized exchange

most people on dydx don't even realize they are on an ethereum L2
Read 10 tweets
8 Sep
i sincerely believe $NDX might be the most undervalued project in DeFi at this point

we're talking about a project with $33m AUM a market cap of $9m and a FDV of $26m

that's lower than the pre-seed valuations some projects without any product or traction raise at!!
but @ndxfi is far from not having any traction

it's consistently at the second spot of protocols in the index sector which, if you're bullish on DeFi, should grow a lot

some of it's competitors have valuations of over $200m with less assets under management..
@d1ll0nk is a genius builder that consistently ships products that differentiate indexed from it's competition

his latest product: Nirn, a yield aggregator that dynamically shifts assets to whichever lending protocol pays the best interest rate

Read 12 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(