1/ 𧡠A Newbie Guide to @LiquidDriver
Fantom's first liquidity mining dApp providing liquidity-as-a-service
Earn high yield rewards paid out in $LQDR $LINSPIRIT $BOO $SPELL $BEETS
BONUS!! Get in early on the "Spirit Wars"
#LQDRv3 #FTM
Fantom's first liquidity mining dApp providing liquidity-as-a-service
Earn high yield rewards paid out in $LQDR $LINSPIRIT $BOO $SPELL $BEETS
BONUS!! Get in early on the "Spirit Wars"
#LQDRv3 #FTM
/2 If you're new here, welcome! I write threads to help fellow crypto newbs better understand the projects they invest in.
Threads are based on my own personal research because I'm not trying to get rekt out here and I don't want that for YOU either
Threads are based on my own personal research because I'm not trying to get rekt out here and I don't want that for YOU either
3/ In this Liquid Driver thread we will cover the following
π What is Liquid Driver?
π§ How does it work?
π€ Team
π Security
π» Spirit Wars
πΊ Roadmap / Upcoming Features
π Additional Resources
Ready? Let's go...
π What is Liquid Driver?
π§ How does it work?
π€ Team
π Security
π» Spirit Wars
πΊ Roadmap / Upcoming Features
π Additional Resources
Ready? Let's go...
4/ Concepts
Ok newbs, here are some concepts we should be familiar with / research before using Liquid Driver (these are not explained in this thread)
- DEXs (Decentralized Exchanges)
- Liquidity Pools / Farming
- DAOs & governance
- Impermanent loss
Ok newbs, here are some concepts we should be familiar with / research before using Liquid Driver (these are not explained in this thread)
- DEXs (Decentralized Exchanges)
- Liquidity Pools / Farming
- DAOs & governance
- Impermanent loss
5/ π What is Liquid Driver?
The simple answer is in the name:
Liquid Driver "drives liquidity" to DEXs in the Fantom ecosystem
The OG version provided liquidity to @SushiSwap but has since shifted to native Fantom DEXs
The simple answer is in the name:
Liquid Driver "drives liquidity" to DEXs in the Fantom ecosystem
The OG version provided liquidity to @SushiSwap but has since shifted to native Fantom DEXs
https://twitter.com/Dr_Liquid_/status/1481179991383711745
6/ Liquid Driver has a slight learning curve, so let's walk through it step by step, some of it might not make sense at first but we'll put it all together at the end.
The first part of LD, is the farms. You earn two different yields here
- Trading fees
- $LQDR rewards
The first part of LD, is the farms. You earn two different yields here
- Trading fees
- $LQDR rewards
7/ π§ How Does it Work?
You deposit LP tokens into the farms which are connected to liquidity pools on Spirit Swap, Spooky Swap, and Beethoven-x
LD incentivizes you to farm with them by offering higher rewards than the native pools in the form of $LQDR
You deposit LP tokens into the farms which are connected to liquidity pools on Spirit Swap, Spooky Swap, and Beethoven-x
LD incentivizes you to farm with them by offering higher rewards than the native pools in the form of $LQDR
8/ What can I do with my $LQDR?
LQDR is LD's native token. It's value comes from the ability to lock up the token in exchange for xLQDR, which takes it off the market.
95% of the rewards that LD farms in it's partner pools (w/ the LP tokens you deposited) go to xLQDR holders
LQDR is LD's native token. It's value comes from the ability to lock up the token in exchange for xLQDR, which takes it off the market.
95% of the rewards that LD farms in it's partner pools (w/ the LP tokens you deposited) go to xLQDR holders
9/ If this isn't making sense yet, keep following and we'll bring it full circle. I promise.
To recap:
1) Deposit LP tokens in Liquid Driver farm
2) Earn LQDR rewards
3) Lock LQDR in exchange for xLQDR
4) Earn rewards from LD's Revenue Sharing Vault
To recap:
1) Deposit LP tokens in Liquid Driver farm
2) Earn LQDR rewards
3) Lock LQDR in exchange for xLQDR
4) Earn rewards from LD's Revenue Sharing Vault
10/ This graphic from liquiddriver.finance puts it all together
Notice the user's interaction, after depositing LPs, is strictly in LQDR / xLQDR until you collect your daily rewards from the Revenue Sharing Vault
Let's talk about those rewards next...
Notice the user's interaction, after depositing LPs, is strictly in LQDR / xLQDR until you collect your daily rewards from the Revenue Sharing Vault
Let's talk about those rewards next...
11/ Revenue Sharing Vault
Rewards here come in the form of
$LQDR (newly minted)
$WFTM (via @FantomFDN incentive program)
$LINSPIRIT (SpiritSwap)
$BOO (SpookySwap)
$SPELL (Abracadabra)
$BEETS (Beethoven-x)
Rewards here come in the form of
$LQDR (newly minted)
$WFTM (via @FantomFDN incentive program)
$LINSPIRIT (SpiritSwap)
$BOO (SpookySwap)
$SPELL (Abracadabra)
$BEETS (Beethoven-x)
12/ Revenue Sharing Vault pt2
As you can see in the last graphic, APR for xLQDR holders is currently 103.84%
This is the sum of the APR from each token
Most rewards come from LD farming LP tokens you originally deposited, but gives you exposure to a much wider range of tokens
As you can see in the last graphic, APR for xLQDR holders is currently 103.84%
This is the sum of the APR from each token
Most rewards come from LD farming LP tokens you originally deposited, but gives you exposure to a much wider range of tokens
13/ π€ Team
Let's take a break from the technical stuff for a second to talk about the team
AFAIK the team is completely anon, so DYOR
On Twitter we have
@Dr_Liquid_ (Lead Dev)
@eth_carter (Community Manager)
Other team members are active on Discord discord.gg/liquiddriver
Let's take a break from the technical stuff for a second to talk about the team
AFAIK the team is completely anon, so DYOR
On Twitter we have
@Dr_Liquid_ (Lead Dev)
@eth_carter (Community Manager)
Other team members are active on Discord discord.gg/liquiddriver
15/ π Security
The LD team appears to take security seriously
- No migrator code (can be used for rug pulls)
- $120k bug bounty program powered by @immunefi
- Clean audit by @SolidityFinance - results linked here
solidity.finance/audits/LiquidDβ¦
The LD team appears to take security seriously
- No migrator code (can be used for rug pulls)
- $120k bug bounty program powered by @immunefi
- Clean audit by @SolidityFinance - results linked here
solidity.finance/audits/LiquidDβ¦
16/ π» Spirit Wars
Now for some fun stuff. Still a bit complicated, so strap in.
Briefly, the Spirit Wars are an attempt by protocols to own enough @Spirit_Swap governance tokens to control it's rewards
LD currently controls >30% and they're working towards full control
Now for some fun stuff. Still a bit complicated, so strap in.
Briefly, the Spirit Wars are an attempt by protocols to own enough @Spirit_Swap governance tokens to control it's rewards
LD currently controls >30% and they're working towards full control
17/ I won't go in-depth into the Spirit Wars here but I'll link some great resources at the end.
What you need to know is that LD accomplishes this via linSPIRIT - their version of wrapped inSPIRIT
What you need to know is that LD accomplishes this via linSPIRIT - their version of wrapped inSPIRIT
18/ When you swap your $SPIRIT for $linSPIRIT, LD swaps the SPIRIT on SpiritSwap for inSPIRIT (confusing, i know..)
At the end of the day, this all boosts rewards for xLQDR holders
At the end of the day, this all boosts rewards for xLQDR holders
19/ In fact, that is essentially what @LiquidDriver stands to gain from winning the Spirit Wars - more benefits for xLQDR holders
20/ πΊ Roadmap / Upcoming Features
LD has a lot on it's plate moving forward but the team has been delivering so far. Here's some major upcoming points
- extending collabs w/ other FTM protocols
- Shadow Farms (see below)
- Building a bribe tool to benefit xLQDR holders
LD has a lot on it's plate moving forward but the team has been delivering so far. Here's some major upcoming points
- extending collabs w/ other FTM protocols
- Shadow Farms (see below)
- Building a bribe tool to benefit xLQDR holders
21/ Shadow Farms
This is an interesting concept that seems to be right around the corner
These farms will AUTO-COMPOUND governance tokens from several DEXs making it more profitable to stake on LD than the OG farms
This is an interesting concept that seems to be right around the corner
These farms will AUTO-COMPOUND governance tokens from several DEXs making it more profitable to stake on LD than the OG farms
22/ π Additional Resources
Always start with the docs. The Liquid Driver docs go further in depth on the concepts we talked about here
docs.liquiddriver.finance
Always start with the docs. The Liquid Driver docs go further in depth on the concepts we talked about here
docs.liquiddriver.finance
23/ Liquid Driver explainer by @FTMAlerts
I'm a sucker for a good explainer and you can't get better than the folks at FTM Alerts
I'm a sucker for a good explainer and you can't get better than the folks at FTM Alerts
24/ I promised you Spirit Wars resources and it doesn't get better than these excellent threads by @crypto_klay
He starts with the origin story: Curve Wars...
He starts with the origin story: Curve Wars...
https://twitter.com/crypto_klay/status/1475995973151338497
25/ Part II gets into the nitty gritty of the developing Spirit Wars
https://twitter.com/crypto_klay/status/1477346893680185346
26/ and if you REALLY have some time on your hands get into Klay's thoughts on what could come next in the wars
https://twitter.com/crypto_klay/status/1480671518103277568
27/ if you prefer to research in article form this Medium post by @RichmoreCapital on @dd_invest gives a good overview
medium.datadriveninvestor.com/enter-the-spirβ¦
medium.datadriveninvestor.com/enter-the-spirβ¦
28/ Now that you're familiar with the Spirit Wars (and the Curve Wars before them) get a better understanding of what exactly "bribes" are by the one and only @AndreCronjeTech
andrecronje.medium.com/bribing-vecrv-β¦
andrecronje.medium.com/bribing-vecrv-β¦
29/ It was already linked above but the Liquid Driver Discord community is a great way to get information straight from the dev team on a regular basis
discord.gg/UaYMZ9vX
discord.gg/UaYMZ9vX
30/ Liquid Driver's own Medium page played a big role in this thread as well liquiddriver.medium.com
31/ and finally, if you like what you've seen here and are thinking about investing some funds into Liquid Driver, check out this video on staking strategies by @milesdeutscher (not financial advice)
32/ As always, if you've made it all the way to the end, thank you from the bottom of my heart for reading, but also for arming yourself with research.
The only way WAGMI is if we DYOR
The only way WAGMI is if we DYOR
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