Let's talk about @astroport_fi $ASTRO and $xASTRO! Why you probably don't have enough and how @retrogrademoney will fit in.
I will try to keep this simple and just gather the facts.
A thread🧵
Using the thread feature for the first time🤦 yes, I did this manually before.
I will try to keep this simple and just gather the facts.
A thread🧵
Using the thread feature for the first time🤦 yes, I did this manually before.
1. What is Astroport & ASTRO?
It's the biggest DEX on Terra with the biggest total value locked. That means it offers great prices (low spread due to deep liquidity in its pools).
ASTRO is the token used for Governance and can be staked as xASTRO to earn fees generated.
It's the biggest DEX on Terra with the biggest total value locked. That means it offers great prices (low spread due to deep liquidity in its pools).
ASTRO is the token used for Governance and can be staked as xASTRO to earn fees generated.
2. Staking
xASTRO just launched but Astroport has been running successfully for a while. That means, a lot of trading fees have been accumulated with no xASTRO stakers to pay them to.
Also ASTRO buybacks were not done until now (part of the reason for Astro's price action).
xASTRO just launched but Astroport has been running successfully for a while. That means, a lot of trading fees have been accumulated with no xASTRO stakers to pay them to.
Also ASTRO buybacks were not done until now (part of the reason for Astro's price action).
3. Why do we need ASTRO?
Two reasons:
- Earn fees from the biggest exchange in Terra (and #7 total in TVL)
- Control Governance of rewards for pools in the future
Two reasons:
- Earn fees from the biggest exchange in Terra (and #7 total in TVL)
- Control Governance of rewards for pools in the future
Governance of pool rewards means that in the future, the one that holds the most ASTRO can control which pools on Astroport get the most rewards.
Protocols will pay "bribes" to anyone voting for their pools. This is way cheaper than buying the tokens themselves 🤯
Protocols will pay "bribes" to anyone voting for their pools. This is way cheaper than buying the tokens themselves 🤯
4. Enter @retrogrademoney
After listening to this great space by @orbital_command terraspaces.org/2022/03/30/orb…
I see much more clearly where all this is heading. Still a lot of questions, but a bigger picture is visible.
After listening to this great space by @orbital_command terraspaces.org/2022/03/30/orb…
I see much more clearly where all this is heading. Still a lot of questions, but a bigger picture is visible.
On Ethereum Curve is the biggest DEX for stablecoins. Holding CRV you can vote for emissions for pools. Sounds familiar?
Retrograde want to become the @ConvexFinance of Terra.
In the Curve Wars, Convex collected a majority of Curve tokens to control emissions to Curve pools.
On Terra: Astroport is Curve and Retrograde is Convex.
In the Curve Wars, Convex collected a majority of Curve tokens to control emissions to Curve pools.
On Terra: Astroport is Curve and Retrograde is Convex.
5. Why is this good for everyone?
In the future, you can lock your xASTRO tokens to receive more rewards in your Astroport pools.
For smaller participants, this might not be very efficient, also DeFi changes a lot why would you lock your tokens.
In the future, you can lock your xASTRO tokens to receive more rewards in your Astroport pools.
For smaller participants, this might not be very efficient, also DeFi changes a lot why would you lock your tokens.
Retrograde will collect your ASTRO and give you retroASTRO which gives all the benefits of locked xASTRO and more (a good deal for you) while staying liquid.
Additionally, protocols can pay them bribes to direct liquidity to their pools (a good deal for protocols).
Additionally, protocols can pay them bribes to direct liquidity to their pools (a good deal for protocols).
Part of these bribes will also go to retroASTRO holders.
You can also participate in Retrograde governance, but I will leave this out for simplicity.
You can also participate in Retrograde governance, but I will leave this out for simplicity.
6. So what's the play now?
xASTRO staking looks amazing, so if you have ASTRO go stake them now. You can withdraw anytime.
No FA but I will accumulate ASTRO on dips (rather DCA as we a re up-only so far).
Waiting for Retrograde to launch.
xASTRO staking looks amazing, so if you have ASTRO go stake them now. You can withdraw anytime.
No FA but I will accumulate ASTRO on dips (rather DCA as we a re up-only so far).
Waiting for Retrograde to launch.
If you liked this thread, give the first tweet a like & retweet and follow @0xn1ce for more @terra_money and investment content. Reach out for any questions!
Check out my pinned post on #yieldnodes if you are looking to diversify some gains.
Have a great day!
Check out my pinned post on #yieldnodes if you are looking to diversify some gains.
Have a great day!
Longer form article out on @Medium with a little more details:
0xn1ce.medium.com/terra-luna-liq…
@retrogrademoney @astroport_fi
#astroport #terra #luna #DeFi
0xn1ce.medium.com/terra-luna-liq…
@retrogrademoney @astroport_fi
#astroport #terra #luna #DeFi
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