@fraxfinance @terra_money 4pool. Hot takes from each camp - curve wars over? dai dies? wen 4pool?
I have a unique pov as I'm the intersection of each camp - curve OG, #lunatic, #fraximalist
πΉ overview of 4pool
πΉ $crv wars season 2
πΉ $cvx math games
πΉ 4pool endgame
π§΅π
I have a unique pov as I'm the intersection of each camp - curve OG, #lunatic, #fraximalist
πΉ overview of 4pool
πΉ $crv wars season 2
πΉ $cvx math games
πΉ 4pool endgame
π§΅π
/ overview of 4pool
First, 4pool motivation from @samkazemian, @fraxfinance founder
πΉ $crv vision - 'savings account for defi'
πΉ $cvx role - prof money manager for @CurveFinance
πΉ 4pool role - postive sum, not zero sum ethos
First, 4pool motivation from @samkazemian, @fraxfinance founder
πΉ $crv vision - 'savings account for defi'
πΉ $cvx role - prof money manager for @CurveFinance
πΉ 4pool role - postive sum, not zero sum ethos
https://twitter.com/samkazemian/status/1510340791712944129?s=20&t=XZJbAGzf4ai1z4-f4BVslg
/ why 4pool
But it doesn't go into why 4pool?
That is actually a multi-billion dollar question. I foreshadowed $ust $frax partnership and the math behind it.
tldr - 3crv is inefficient to scale because of dai & removing will level playing field.
But it doesn't go into why 4pool?
That is actually a multi-billion dollar question. I foreshadowed $ust $frax partnership and the math behind it.
tldr - 3crv is inefficient to scale because of dai & removing will level playing field.
https://twitter.com/0xCha0s/status/1506444813838737408?s=20&t=XZJbAGzf4ai1z4-f4BVslg
/ 3crv scalability
This pov isn't just from the #lunatics #fraximalists camp. It's something that is understood and is actively being discussed on @CurveFinance
This pov isn't just from the #lunatics #fraximalists camp. It's something that is understood and is actively being discussed on @CurveFinance
https://twitter.com/CurveFinance/status/1510335188198469632?s=20&t=XZJbAGzf4ai1z4-f4BVslg
/ dai dies? - absolutely not
@korpi87 sums up well. Reality is $dai out of 3crv != death
It just means no more free lunch. $mkr has to participate in #curvewars just like everyone else to succeed. That's a good thing, but not a catchy 'dai must die' π€·ββοΈ
@korpi87 sums up well. Reality is $dai out of 3crv != death
It just means no more free lunch. $mkr has to participate in #curvewars just like everyone else to succeed. That's a good thing, but not a catchy 'dai must die' π€·ββοΈ
https://twitter.com/korpi87/status/1510390934709706753?s=20&t=XZJbAGzf4ai1z4-f4BVslg
/ narratives - $crv wars
Let's talk narratives #curvewars. What I am seeing is an end to season 1, and a start of season 2. What?!
πΉ season 1 - how to play the game - $cvx
πΉ season 2 - changing the game - 4pool
Think of szn 1 as establishing frameworks of gameplayπ§
Let's talk narratives #curvewars. What I am seeing is an end to season 1, and a start of season 2. What?!
πΉ season 1 - how to play the game - $cvx
πΉ season 2 - changing the game - 4pool
Think of szn 1 as establishing frameworks of gameplayπ§
/ #curvewars season 1
@samkazemian mentioned $cvx is the professional money management for $crv. It's actually more than that. It introduces several layers to $crv game play π§
1β£ money manager
2β£ rent votes
3β£ own votes
$cvx overview π
@samkazemian mentioned $cvx is the professional money management for $crv. It's actually more than that. It introduces several layers to $crv game play π§
1β£ money manager
2β£ rent votes
3β£ own votes
$cvx overview π
https://twitter.com/0xCha0s/status/1508907645658402824?s=20&t=XZJbAGzf4ai1z4-f4BVslg
/ #curvewars framework
Each layer mentioned is independent - money manager, renting, owning.
You can participate in none, 1, 2 or all 3. That is the beauty of $cvx. But if you do all three - roi π. It becomes a competitive advantage *by design*, show math pls?
Each layer mentioned is independent - money manager, renting, owning.
You can participate in none, 1, 2 or all 3. That is the beauty of $cvx. But if you do all three - roi π. It becomes a competitive advantage *by design*, show math pls?
/ $cvx as a money manager
From the lens of @fraxfinance @terra_money
πΉ Top 2 in TVL in all stables
πΉ $ust $frax π΅ use this service themself, earning 2x yield vs direct on curve
As LPs they get $crv + $cvx emissions, this matters later
From the lens of @fraxfinance @terra_money
πΉ Top 2 in TVL in all stables
πΉ $ust $frax π΅ use this service themself, earning 2x yield vs direct on curve
As LPs they get $crv + $cvx emissions, this matters later
/ $cvx to rent votes
@fraxfinance @terra_money are the top two renters of voting power. Combined bid - $11m of $16m total bribes (67% of votes)
For every $1 spent, they controlled $1.55 worth of $crv $cvx emissions or $17m for their LP - this process repeats every 2 wk
@fraxfinance @terra_money are the top two renters of voting power. Combined bid - $11m of $16m total bribes (67% of votes)
For every $1 spent, they controlled $1.55 worth of $crv $cvx emissions or $17m for their LP - this process repeats every 2 wk
/ $cvx to own votes
$fxs $luna realized you can own a piece too. As #1 and #3, they rep 8.1% of the pie.
Owning $cvx makes their bids more efficient. Ex. terra
πΉ$4m ust bribe rd 14
πΉ$.65 ust recyled rd 15
@terra_money bribes are 16% more efficient than if no $cvx
$fxs $luna realized you can own a piece too. As #1 and #3, they rep 8.1% of the pie.
Owning $cvx makes their bids more efficient. Ex. terra
πΉ$4m ust bribe rd 14
πΉ$.65 ust recyled rd 15
@terra_money bribes are 16% more efficient than if no $cvx
/ #curvewars playbook
@fraxfinance created the best practice playbook for protocols invested in $crv economy.
@terra_money quickly adapted. They both are invested in $crv long-term via $cvx because it's a cost of the business of stables.
@fraxfinance created the best practice playbook for protocols invested in $crv economy.
@terra_money quickly adapted. They both are invested in $crv long-term via $cvx because it's a cost of the business of stables.
https://twitter.com/samkazemian/status/1510169882364502017?s=20&t=XZJbAGzf4ai1z4-f4BVslg
/ #curvewars season 2
Now, it's about changing the $crv gameboard, and exerting influence. Remember, $luna and $fxs are long-term eco participants
πΉ LP - what is a more optimal way to LP
πΉ rent - maximize $ roi
πΉ own - leverage ownership %
Now, it's about changing the $crv gameboard, and exerting influence. Remember, $luna and $fxs are long-term eco participants
πΉ LP - what is a more optimal way to LP
πΉ rent - maximize $ roi
πΉ own - leverage ownership %
https://twitter.com/samkazemian/status/1510169882364502017?s=20&t=XZJbAGzf4ai1z4-f4BVslg
/ $cvx math games
4pool breaks the old framework.
What happens when 67% of bribes go to 1 pool?
rd 14 ex - $10.8 bribes => $16.8mπ emissions, liquidity black hole. POL of $frax $ust more lucrative $crv $cvx emissions.
$ust $frax scale $crv while maintaining peg together
4pool breaks the old framework.
What happens when 67% of bribes go to 1 pool?
rd 14 ex - $10.8 bribes => $16.8mπ emissions, liquidity black hole. POL of $frax $ust more lucrative $crv $cvx emissions.
$ust $frax scale $crv while maintaining peg together
/ 3crv effects - the math
If $dai removed, they'll just have to incentivize like everyone else - or risk losing ground to other stables protocols.
If $dai removed, they'll just have to incentivize like everyone else - or risk losing ground to other stables protocols.
https://twitter.com/crypto_condom/status/1510648576791261186?s=20&t=XZJbAGzf4ai1z4-f4BVslg
/ have we lost the plot
But in all this hoopla, @joey__santoro asked the right question. What about decentralization? Wasn't the point of $ust $frax to remove dependence on centralized stables like $usdc $usdt? Have we lost the plot?
But in all this hoopla, @joey__santoro asked the right question. What about decentralization? Wasn't the point of $ust $frax to remove dependence on centralized stables like $usdc $usdt? Have we lost the plot?
https://twitter.com/joey__santoro/status/1510338537291280386?s=20&t=XZJbAGzf4ai1z4-f4BVslg
/ 4pool is not the endgame
@stablekwon @samkazemian are just getting started. Growing centralized stables isnβt the goal, but necessary as they are off ramps (for now)
@stablekwon @samkazemian are just getting started. Growing centralized stables isnβt the goal, but necessary as they are off ramps (for now)
https://twitter.com/0xCha0s/status/1510464631810187268?s=20&t=XZJbAGzf4ai1z4-f4BVslg
/ 4pool roadmap
The roadmap will take timeβοΈ, not even step 1
πΉ Establish 4pool
πΉ 3crv pools => 4pool
πΉ $ust grows on on/off ramps, $frax $ust focus on defi utility
πΉ $ust $frax new defacto d2pool when less reliant on $usdc $usdt ramps
The roadmap will take timeβοΈ, not even step 1
πΉ Establish 4pool
πΉ 3crv pools => 4pool
πΉ $ust grows on on/off ramps, $frax $ust focus on defi utility
πΉ $ust $frax new defacto d2pool when less reliant on $usdc $usdt ramps
/ key takeaways
πΉ $crv wars not over, just evolved
πΉ $luna $frax don't need to own any $cvx, just the majority of the bribes
πΉ $cvx π ownership + POL makes π‘ stronger π₯
πΉ @terra_money @fraxfinance will grow $crv, and $cvx is the levered play π°
πΉ $crv wars not over, just evolved
πΉ $luna $frax don't need to own any $cvx, just the majority of the bribes
πΉ $cvx π ownership + POL makes π‘ stronger π₯
πΉ @terra_money @fraxfinance will grow $crv, and $cvx is the levered play π°
https://twitter.com/wagmiAlexander/status/1510722855138324482?s=20&t=XZJbAGzf4ai1z4-f4BVslg
/ thank you
This post was for #curvewars #lunatics #fraximalists
Pls share original post if helpful π
This post was for #curvewars #lunatics #fraximalists
Pls share original post if helpful π
https://twitter.com/0xCha0s/status/1510804760261283847?s=20&t=XZJbAGzf4ai1z4-f4BVslg
/ would love a share of this perspective
#CurveWars
@crypto_condom
@DefiMoon
@CurveCap
@CredibleCrypto
#Lunatics
@Cephii1
@danku_r
@CryptoHarry_
@lejimmy
@ItsAlwaysZonny
#fraximalists
@samkazemian
@kamikaz_ETH
@Rewkang
@knowerofmarkets
#CurveWars
@crypto_condom
@DefiMoon
@CurveCap
@CredibleCrypto
#Lunatics
@Cephii1
@danku_r
@CryptoHarry_
@lejimmy
@ItsAlwaysZonny
#fraximalists
@samkazemian
@kamikaz_ETH
@Rewkang
@knowerofmarkets
β’ β’ β’
Missing some Tweet in this thread? You can try to
force a refresh
γ
