Thread by @josefabregab

If you like scalability & high yields, you have probably met $METIS already. Although, have you met $TETHYS yet?😏🥵

🧵Thread on what is @tethysfinance & How to earn +2000% APYs in $TETHYS

(1/22)

2/ In this thread, we'll cover:

• What is @tethysfinance
• $TETHYS
• Roadmap
• Governance
• xTETHYS
• Farms🚜
• Lending Pools (personal fav)
• The Liquidator
• $TETHYS x $HERMES

Vamos👇

3/ @tethysfinance is a native DEX on Metis Andromeda network, launched on December 17

Its mission is to empower @MetisDAO with a fast, secure, reliable, & advanced native dex platform to handle ALL kinds of trading needs

4/ $TETHYS

$TETHYS is the native currency and governance token of @tethysfinance

Its main uses are:

1. incentivize liquidity
2. stake
3. governance

Rewards for 1 & 2 are pretty juicy. We'll get to 'em in a minute, but first... road map👇

5/ Roadmap

As u can see in the img attached, @tethysfinance have been NON STOP DELIVERING. 100% of what they say they'll do, they do

If u zoom into 2022 Q1, u'll see an NFT COLLECTION box & a Deep Staking box, both missing their checkmark

If/when delivered, $TETHYS should fly

6/ Roadmap

Q2 will bring with it:

• Predictions
• LP Zapping
• Advance Trading Mode improvements

Q3:

• Bridge Aggregator
• Fully on-chain DAO

**It's boutta get real saucy for $TETHYS once the bridge aggregator is done imo

7/ Roadmap

Why do I think that could be a key implementation for $TETHYS ?

@tethysfinance is a hub for super attractive yields with & w/o IL risk, besides an outstanding UI.

If new users bridge in thru Tethys, they'll notice them yields & most likely love the UI

8/ Governance

In order to create a proposal, you only need to have 5,000 TETHYS tokens in any of the supported allocations😱

• Metamask wallet
• xTETHYS
• TETHYS-METIS LP
• TETHYS-METIS

9/ xTETHYS

xTETHYS: ERC-20 token u can get by lockin ur $TETHYS

xTETHYS benefits from swap fees (0.03%), which means the higher the volume of the DEX, the more tokens will be purchased & distributed to stakeholders (buyback mechanism)

Ps. With $HERMES, there WILL be volume

10/ FARMS🚜

If you think farming is cool... wait til you try Tethys' Progressive Farming (Quadratic Farming)

The more you stake your tokens on the farm, the more multipliers you get applied to your harvest amount, up to 30%

I'll attach an image of the best yielding farms atm

11/ Now, my favorite part: Lending Pools

How is this not the same as Farms? Well, this Lending Pools can be seen as Farms in steroids

• U can Deposit LPs, which will give you insane returns but will expose u 2 IL risk
• U can Lend to the protocol for +80% APY with no IL risk

12/ Lending Pools

All these Lending Pools are vaults, meaning that your retursn will be autocompounded into your Supplied/Deposited balance

Right now, supplying $TETHYS for the TETHYS-METIS pool is yielding 65% APY, and supplying $BTC to the WBTC-METIS: 95% APY

No IL risk

13/ Lending Pools

The returns for Lending a single asset are pretty good, and even more when taking in consideration there's no IL risk involved.

Although...

If you want 4-digit APYs, we must go the LP sections of said Lending pools😈

Let me guide you👇

14/ Lending Pools

Rn, Supplying LPs to the TETHYS-METIS pool or the STARS-METIS pool, is yielding 345% APY and 2430% APY, respectively

METIS-mUSDT & METIS-mUSDC are both yielding +100% APY

NETT-METIS, +100% APY

All rewards paid in $TETHYS, which just partnered in for $HERMES

15/ What if I told you that's not it?

What if I told you that the TETHYS-METIS pool & the STARS-METIS pool r currently paying me almost 2000% APY & 17000% APY, respectively?

Let's go over how you can get those yields as well, but remember: higher the yield, higher the risk

👇

16/ Lending Pools

If you click on any of the Lending Pools, it will take you to this dashboard, and once you Deposit your LPs in your preferred pool, you'll see the "Leverage" button turned on or acquire color. It's next to your LP Deposits

17/ Lending Pools

IF you decide to use leverage for the Lending Pools, bear in mind that Liquidation becomes a VERY real outcome, and if you're not comfortable risking them funds, you should stick to the regular APYs which are still pretty f*cking sweet

18/ Lending Pools

Personally, I do use leverage for these farms, but very conservative in relation to how much leverage it allows you to use

When I use it, I set the liquidation limits so far that I don't have to worry abt em

I love making bank, but I don't like greedy losses

19/ The Liquidator

@tethysfinance offers a liquidation incentive (currently 4%, & ranging from 1% to 5%) to liquidators in exchange for liquidating, or buying out, at-risk loans. Any1 can be liquidator as long as they provide the necessary tokens to repay the loan.

20/ The Liquidator

In return, they receive a percentage of the borrowed amount, deducted from the borrower's initial collateral.

That means 2 things:

1. Liquidators gon be everywhere bruh. Might as well be one and profit
2. Liquidated positions r not necessarily going to zero

21/ $TETHYS x $HERMES

If u've been following $HERMES, u know wassup

$TETHYS is the most recent protocol 2 partner in 4 the new $HERMES era

No distribution plans have been shared, since the news only came out this morning, but rewarding the xTETHYS stakers would def make sense

22/ Terminamos!

Feel free to add/point out anything I might've missed/been wrong about. Sharing quality & reliable information is the end goal of this thread.

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