Thread by @juice9609

1/ Feel like people are throwing @ConicFinance 🍦under the radar🤦‍♂️

TLDR: @ConicFinance is the final fly wheel on top of $CRV & $CVX - diversified LP exposure across multiple Curve Pools through single-token deposits

Concise 🧵 summary on why we are still early

2/ What problem is it trying to solve?

#Curve has multiple pools and it’s inefficient searching for pools with optimal APR - $CRV emission change

Similar assets can earn higher yield when LPing in other pools - this is ultimately what @conicfinance is trying to solve

3/ What is #ConicFinance🍦?

- Diversified LP exposure across multiple @CurveFinance Pools
- Allows deposits of single token (ex. $USDC, $ETH)
- #Conic deposits into multiple approved Curve Pools
- Stakes LP tokens on @ConvexFinance
- Depositor earns $CRV + $CVX + $CNC 😮

4/ What are Omnipools?

First, users deposit a single assets (ex. $ETH) into the Omnipool

Then @ConicFinance automatically distributes $ETH across multiple supported pools with the most efficient strategy provided by $vlCNC governance

5/ LP Token Pricing
However, to prevent the price manipulation attacks forcing users to receive less LP tokens during liquidity provision, the team has worked on LP token pricing mechanism

https://twitter.com/0xWicket/status/1555259554467926019?s=20&t=GkYrPbZLqzEs2Ku3Y-lz7Q

6/ During this process, often times there are imbalances that occur during whithdrawals and deposits

This is balanced by rewarding participants to swap LP tokens with under/over-supplied liquidity relative to the target balance

7/ By balancing out the pool target ratio, these LP token swappers are rewarded by $CNC based on volume according to total number of $CNC distributed

This is a new complicated concept so check out the whitepaper: ipfs.conic.finance/whitepaper.pdf

8/ Value Accrual
If you are familiar with $veCRV and $vlCVX, you’ll get what @ConicFinance is trying to do - create another veTokenomics with even more rewards

🛞FlyWheel
$CNC → 🔒 $vlCNC → 🗳 which pools to white/blacklist → if fees are added = 💵 revenue for vlCNC holders

9/ 🪙Tokenomics

Total Supply: 10M
⭐️ 30% Community-led project - no VC participation
🪂 10% Airdropped to vlCVX holders
💵 44% Liquidity Providers (over time)
🔐 6% Treasury (1% unvested for AMM Pool | 5% 1Y Linear Vesting)
⚖️ 10% AMM Stakers (stakers in CNC/ETH in Curve)

10/ How to Earn $CNC

1. $CNC/$ETH Curve LP Token Staking (available)
2. #Curve LP Token swap rebalance (soon)
3. Liquidity providing for Curve LP supply (soon)

Governance Lockening
$vlCNC - locakable from 4~8months (longer than $vlCVX, shorter than $veCRV)

11/ Who thinks it works?

Curve #3 employee has scooped some up in the past 7 days and $CRV $CVX professional like @adamscochran has been supportive so far

https://twitter.com/adamscochran/status/1573068921397477376?s=20&t=NqWbheKmmQ-DzKz9_K9Zuw

12/ Voting is basically done in both @CurveFinance and @ConvexFinance for gauges for $CNC/$ETH pool

Additional rewards on top of the juicy 250%+ APR from staking LP tokens on #ConicFinance

https://twitter.com/napgener/status/1573074783960535040?s=20&t=Enkv0CTffoh1YDUBQuK1WA

13/ Conclusion

@ConicFinance model is built on top of a very robust ecosystem that has proven to be successful in the long run (feat. @CurveFinance , @ConvexFinance )

This thing in low $20M FDV is ridiculous 🤯

14/ The current market is in bad-need of a driving narrative for support. Once we see relief, small caps with strong fundamentals should be the first one to grow in the short-mid run

💪 Fundamentals + ⬇️ Low MC ($20 M) = 🤷

15/ Low Cap narrative driven protocols are the way to for this market

https://twitter.com/Crypto_McKenna/status/1573210745122308103?s=20&t=UypKcm-JWQ29CtEGFiWGnQ

16/ If you like what you read don't forget to retweet!

Lez go #coneheads 🍦

https://twitter.com/juice9609/status/1573293029993381889?s=20&t=UypKcm-JWQ29CtEGFiWGnQ