liquidity mining on @arbitrum and @optimismPBC is coming very soon

stoked to announce we were able to get an audit by ABDK (@Khovr) which has started today and should be completed in 2-3 weeks.
for reference ABDK is one of the top audit firms (list by @lawmaster)
while we're waiting for the audit @dmihal is building the UI to adapt for the changes we made to the staking contracts

tldr; LP's need to provide a range of a min. width to avoid single-ticker whales raking in all of the $UNI rewards

benefits: fairness, retail friendly etc.
if you're a FE dev or designer and want to help us build a kick ass staking app, pls reach out

we're thinking of using the ribbon UI by @lewifree as a starting point

need to make some tweaks to it however as users need to stake a LP NFT that is in range AND satisfies min. width
user journey:

1) starts on staking app

2) user clicks "provide Liquidity'

3) Uniswap opens with pre-filled range around spot price that satisfies conditions

4) User confirms

5) Comes back to staking app to stake LP NFT

6) Claims $UNI

7) L2 adoption skyrockets 🚀
big thanks to @snxgrants for sponsoring the audit

and @HopProtocol for letting me work on this 💪

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More from @litocoen

10 Dec 21
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.
Read 7 tweets
1 Dec 21
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 21
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 21
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 21
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 21
$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

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