lito Profile picture
Jan 27 16 tweets 11 min read
it's easy to miss all the amazing developments happening in the space with all the noise surrounding crypto twitter everyday

ignore the ponzis, embrace innovation, contribute to builders who are in for the long term

here's a couple of projects i'm bullish on👇
first off, i'm mostly focusing on L2's this year (#L22022 is not a meme😜)

Many new L2 native projects launching in the next couple of weeks, completely skipping mainnet

Once you get a taste of the cheap transaction fees there's no turning back..
one of the few use cases I am still willing to use Ethereum mainnet for are high-value NFT's, a sector which is on absolute fire
a trend to watch out for here is the on-going fragmentation of the NFT space with @LooksRareNFT @Coinbase_NFT etc. launching their own marketplaces

NFT aggregators like @gemxyz are likely to capitalize from this

think there will also be more niche, vertical specific marketplaces popping up as mainstream realizes that NFTs are not limited to PFP's

@soundxyz_ for music NFT's or @sloikaxyz for digital photography e.g
even in DeFi we have only scratched the surface of what can be achieved with NFTs

big fan of @NestedFinance e.g (launch soon) which is kind of a eToro for Web3

create token baskets (strategies), represented by a unique NFT, and earn royalties if others copy trade you
i also expect a significant uptake of NFT activity on L2

you can already see this with @Treasure_DAO on @arbitrum an NFT ecosystem hosting several metaverses (Bridgeworld, @SmolBrainsNFT, @LifeNFT_ ) all cleverly utilizing $MAGIC in their respective lore

very special project!
tokenization of real world collectibles like cards, watches, art, sneakers etc. is an equally interesting area within the NFT space

temporarily decoupling the physical object from the ownership token means - but guaranteeing redemption - makes it much easier to trade
moreover, there's a ton of momentum in Web3 social media

good place to get a taste of it is on @gmdotxyz where you can:

- sign-in with ethereum
- display your NFT's
- verify your ENS
- token-gate your inbox or community
to be clear the example above is still a hybrid Web 2.5

a full Web3 social media entails a decentralized social graph - your fully-composable web of connections and interests that you can import into any social media app and get a feature rich experience from day 1
one important building block for social media (and Web3 in general) is identity

super excited to see @Sismo_eth launch soon which will allow you to build up an online identity without leaking your wallet address(es)

things like:
- i own a punk
- i have > 100 $AAVE
- i voted 10x
in DeFi option markets are going to have their break-through in 2022

huge fan of @lyrafinance, @dopex_io, @PremiaFinance etc.

liquidity is still too thin though and fragmented - @PolynomialFi is building the @1inch for options to solve this

on @arbitrum 👀
obviously i'm most bullish of all on @HopProtocol which will stands to benefit significantly from the L2 uptake

it's already super seamless and inexpensive to hop between L2's with Hop - but in 2022 it will be even cheaper and better

i hope for $100b in volume (100x) 😅
for all this Web3 buidling we'll need efficient and scalable tools to run on-chain organizations

tools like @joincolony @koopxyz @SyndicateDAO and many many more are working on this 👀

cryptotesters.com/blog/how-to-la…
if you're building something reach out to me - the @cryptotesters community and I love testing new products and providing feedback
oh yeah expect DeFi 1.0 comeback 😜

protocols like @AaveAave @synthetix_io @Uniswap etc. have withstood the test of time, care about security and decentralization and have amazing 2022 roadmaps

if DeFi has any legitimacy in normieland it's thanks to their continued work

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More from @litocoen

Jan 11
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.
Read 7 tweets
Dec 10, 2021
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
Dec 1, 2021
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
Nov 30, 2021
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
Nov 8, 2021
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
Sep 15, 2021
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

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