Thread: New Update On @Spirit_Swap And Their Insanely Cool V2 Release…
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So… many of my Twitter frens will remember that I did a big thread on @Spirit_Swap back in December…
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Well, in recent months the team has been diligently working behind the scenes on their new V2 release, which is- to say the least- very impressive.
This thread will highlight some of the new innovations.
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For V2 the team has apparently re-built the entire codebase from scratch, and in so doing also added a bunch of new functionalities.
The first is the new Protocol Fee/Voting Fee Model...
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These relate to the swap fees on the platform and how those fees are distributed.
The new setup is quite gigabrained, and their below graphic provides a thorough breakdown of it:
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It gives 'Protocol Fees' to protocols that list their LP's on Spiritswap, and 'Voting Fees' to inSPIRIT holders who voted for the gauge attached to the pool in question..
Thus creating a 'virtuous feedback loop' of more listings, more voting, more rewards, etc.
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Next: Real Yield/ Anti-Dilution for inSPIRIT holders:
This is an updated mechanism designed to both catalyze further adoption of inSPIRIT as well as protect inSPIRIT holders from dilution from farming rewards.
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Beyond the above, there's a bunch of other cool upgrades as well, most in V2 and a few in V2.1 which will be released shortly afterward.
One such development is the addition of new ‘weighted pools’ like one would see on Balancer or Beethoven.
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If by chance you don’t know what this means, it is essentially LP pools with more than two tokens, and/or LP pools with non-50/50 splits. This gives users way more flexibility in terms of provisioning liquidity.
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As an example, if you’re super bullish on $EXMPL token you could potentially farm something like a 80/10/10 $EXMPL/$USDC/$FTM pool, instead of a 50/50 $EXMPL/$FTM pool, which would give you more $EXMPL exposure and reduced impermanent loss.
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They're also incorporating some Solidly-style AMM dynamics and extremely efficient stable swaps, etc.
Basically they've just taken many of the best recent dex innovations and added them in, along with their own custom add-ons, to maximize protocol efficiency.
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There'll also be 'Ecosystem Farms' that are essentially permissionless pools where any other protocol/new protocol can create an LP pair.
This relates to the Protocol Fee sharing mentioned above, allowing these protocols to earn 25% of the fees their pools generate.
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There is also apparently going to be a much faster and smoother UI and UX, though I’ve never had any problems with the existing one.
V2 also improves capital efficiency via usage of dormant liquidity in the lending network (see below).
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They're also implementing a bridge aggregator connected to the AMM, so you can bridge AND swap at the same time.
(i.e. bridge $USDC from Polygon and receive $FTM on the Fantom side, or other such combinations.)
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Beyond this, briboors and bribe-receivoors can also rejoice, as there will be a built-in mechanism for bribes within the protocol itself :)
There's also some really cool additions to the UX, like the 'SpiritWars' page (see screenshot below).
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Overall the site looks fantastic, + frontend is fully functional without having to connect your wallet, which I like (this is important best practices design imo).
The analytics page is also excellent (see screenshot below).
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Also as already mentioned... Some of the above is coming in the V2 release and some will be a couple weeks later in V2.1, so the #FrenchChart at the start of the thread should be considered a picture of the full V2/V2.1 @Spirit_Swap.
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In conclusion, I'm very stoked to see the Spirit team bust out these updates, max-building in the bear, as it were :)
If you found this helpful/interesting plz follow and RT!
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Tagging some Fantom-Chads who may appreciate the thread:
Thread: 10 Reasons Stablecoins Will Eventually Hit A $10T Market Cap
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So… I am wildly bullish on stablecoins… and think they will grow massively in scope the next 5-10 years...
Here’s the economic/societal reasons + use cases behind my thesis:
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One: They Are A Vastly Superior Technology Vs Tradfi Banking Rails.
As someone who has run online businesses using both tradfi platforms and on-chain stablecoins, I can attest that the latter is unequivocally, without a doubt 100x better.
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If you want to transact internationally using Bank Of America or Wells Fargo or similar banks, you will get hit with utterly extortionate currency exchange charges.
If you want to use PayPal or Payoneer or Wise, you can *technically* avoid such fees/charges, HOWEVER…
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Thread: Navigating The Macro Craziness As A Crypto Degen (Update!)
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Alright my fellow frogs, this thread is my thoughts on the current market outlook.
..and a sequel to my March 7th thread on my thoughts/plans for navigating the max pain we were anticipating (and got!)
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That thread in March was precipitated by watching Powell’s super aggressive posturing in the below-linked video, where it seemed quite apparent we were about to do some very painful austerity-LARPing:
As I stated in it, while I think the US has no choice but to debase away its sovereign debt (and thus inflate markets way higher in nominal terms) over the next ten years, it looked like we were gonna have a plunge downward in the short term.
Thread: Cool New OmniChain Lending Protocol Launching On Arbitrum - Radiant Capital
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Alright my fellow frogs, an interesting new lending protocol called @RDNTCapital has launched on Arbitrum two days ago and is already near $200M TVL!
Here's some info on them!
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So... Radiant Capital is a lending protocol in the vein of Aave or Compound... but with the goal of being totally multichain, so that you can seamlessly deposit collateral on one chain and borrow against it on another...
Fantastic macro discussion + Jim made the exact same case for on-chain defi that I tend to articulate so was cool seeing him and Mike poring over that.
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Two: @noahseidman's Wed stream "The Story Of The Stablecoin And The Central Bank"
Imo there is no one that has a more thorough and nuanced take on importance/implications of on-chain stablecoins than Noah, absolutely cannot recommend him enough:
Nobody wants to sit under fluorescent lights in some windowless office all day... every really talented person under age 40 I know would require 2x+ the money to work in-office vs remote/self-employed.
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Two: Among smart, talented people under 40, there is an awareness- whether explicit or unconscious- that corporate employment is profoundly risky.
One nutjob coworker posting a TikTok accusing you of xyz thought-crimes/actions/etc can have a horrible impact on your life.
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Quote: "...it appears that the company had ceased to engage meaningfully with creditors since approximately mid-June 2022..."
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Quote: "DRB Panama checked various wallet addresses... able to see transfers... but were unable to identify to whom... Some of these... only served to compound the Company's creditors' concerns..."