Thread by @bestLSD

A thread about bestLSD

bestLSD is a unique liquid staking protocol that utilizes both real-yield assets and high-yield staking assets to build a growth flywheel, to bring the best yield and liquidity for stakers. 👇 /1
#GLP #veCRV #gDAI #veVELO #veLIT

A. Why build this protocol?

We believe that there's a chance for using growth hacking strategies to become a major player in liquid staking. And build an ecology that benefits Ethereum eco, stakers, as well as token holders.

Growth! Go big or go home. /2

B. How to go big?
Maximize staking yield & liquidity for stakers /3

C. Where does the yield & liquidity come from?

Built on top of the entire ecosystem, all incentives are now our incentives, and all liquidity now our liquidity. From wstETH/ETH LP to stETH leverage staking, from rETH/ETH LP to sfrxETH. /4

D. Where does the boost yield come from?

Most of the governance tokens would be used for auction to buy real yield assets, or OTC swaps for partnership tokens to build a portfolio with the strongest real yield assets as part of the protocol's treasury, /5

providing stakers with sustained and robust boosts. From GMX to GLP, from veCRV to veVELO, all assets that can generate strong real yields are within our sights. /6

E. What about the object and priority？
1. Growth: Need to go big first to widen the moat and enhance the bargaining power with other participants, so we'd focus on growth in the short term

2. Security: To secure stakers and protocol assets, we'd keep investing in security /7

including audit, and bug bounty, and optimize contracts and mechanisms to reduce their fragility. Before we get audited and implement decent security, we'd control the size despite we urgent wanna growth. /8

3. Decentralization: As we reach a certain scale, we will gradually prioritize decentralization, including using DVT to enable trustless, permissionless validators. And we will also implement and optimize the DAO governance structure. /9

4. Future improvements:
4-1 Allow LSD protocols to bribe us in order to allocate more assets to them, only when security and risk control requirements are met. /10

4-2 Re-staking or corporate with re-staking protocols, we provide the best staking assets to help secure 3rd parties while improving capital efficiency. /11

4-3 Bond solutions such as chicken bonds are also in consideration, to match different liquidity&yield demands. /12

F. What's the endgame?

We believe that liquid staking is an economy of scale. After growing into the primary protocol through the above-mentioned means, we will have more use cases and a stronger brand to naturally stay competitive /13

, and receive external incentives such as re-staking. At that time, not only will we not need to use protocol assets for incentives, but we can also take a portion from staking rewards or re-staking extra rewards. /14

Join the waitlist for testnet👇 /
bestlsd.com