Thread by @CryptoKaduna

1/ Most projects/teams are one-trick ponies...

Did you know a team is responsible for some of your favorite protocols on #Fantom and other chains?

@ByteMasons is that team, let's see what they've built and the earning possibilities they have created 🧵

2/ In this thread, we will cover a handful of subjects

✅ @ByteMasons Projects
✅ Byte Mason Ecosystem
✅ $OATH flywheel

3/ Who are @ByteMasons?

Byte Masons is a team of experienced developers who have built an entire ecosystem including money markets, vaults, yield farms, and its own stablecoin.

@granaryfinance
@Reaper_Farm
@EthosReserve

4/ First let's look at @GranaryFinance

The Granary is a cross-chain leading market currently supporting:

ARB, FTM, OP, METIS, ETH, ONE, AVAX

The Granary works side by side w/ their other protocol @Reaper_Farm and is part of Bytemasons' insane flywheel I'll talk about very soon

5/ How, you might ask?

Revenue is generated for @GranaryFinance by funds being deposited into farms on @Reaper_Farm.

This may seem risky but by having both protocols developed by the same team they can understand and mitigate the risk.

6/ Inspired by the popular protocol Aave, The Granary offers a handful of features for users:

✅Deposit and earn interest
✅Borrow assets
✅Flash loans
✅Revenue sharing

7/ Now onto @Reaper_Farm

Reaper Farm is The Byte Masons' auto-compounding yield farm that utilizes compounding interest to maximize users' yields.

This is done through Reaper Farms vaults...

8/ @Reaper_Farm offers a wide range of vaults where you can deposit assets that would otherwise earn yield elsewhere

By depositing your assets into these vaults the assets are redirected to where the best yield is and the Reaper bots then automatically harvest and compound yield

9/ @EthosReserve

Ethos is the team's own decentralized stablecoin protocol powered by $OATH, adding to the $OATH flywheel that we will get into later in this thread.

10/ Recent stablecoin drama with USDC depeg has seen users flock into LUSD because it's an ETH-backed stablecoin.

One such stablecoin that is coming is ERN. ERN is to OATH what LUSD is to LQTY.

Remember, the need for LUSD has made good buy pressure on LQTY.

11/ Using $ETH users can borrow up to 90% of its value as Ethos Reserve Note $ERN which is an interested fee loan with users only being charged a one-time 0.5% fee.

One of the special things about @EthosReserve is that it deploys its underlying assets into DeFi yield strategies.

12/ Users' collateral is put to work in low-risk yield farming strategies with the generated yield going back to $ERN stakers.

This allows for @EthosReserve and its token $ERN to help create a complete #DeFi ecosystem.

13/ Investing in Stability Pools

Users can stake their $ERN into the stability pool and receive generated revenue through rewards and liquidation gains.

14/ Similar to how @GranaryFinance generates revenue through @Reaper_Farm Ethos uses customers' deposited collateral to farm low-risk farms on Reaper.

The revenue generated from this yield is paid out to $ERN stakers.

15/ Here's where $OATH comes in...

$OATH is the governance token of the Byte Masons ecosystem and is how users can earn a share of the revenue generated.

Across all protocols built by the team, all the revenue flows to $OATH.

16/ The $OATH flywheel

All of these different protocols work together to create a flywheel, generating yield for users and the $OATH token.

Holding $OATH makes you a participant in this flywheel earning you a share of the revenue from the above projects.

17/ Users' assets in any of the above protocols all work together across the projects with the profits eventually trickling down to the $OATH token.

18/ $OATH Staking and $bOATH

The @ByteMasons team has decided not to go with a single staking strategy with $OATH rather they have gone with a more efficient strategy.

An 80/20 pool consisting of $OATH and $ETH

19/ This not only grants users the flywheel rewards but also exposure to $ETH and helps the project maintain deeper liquidity than single-sided staking would.

20/ By entering this pool users are rewarded with $bOATH a bonded version of $OATH which then entitles them to all the rewards generated by the above protocols

As the @ByteMasons ecosystem is developed more it is my guess that $OATH and $bOATH will play an even more crucial part

21/ Bytemasons are very bullish on Optimism, that's why they have deployed all of their products on the famous L2. Another reason to be hyped for their work is the upcoming Base L2 launch. Chances we'll see Bytemasons's products on Base are thick.

22/ Audit

The audit by cod4rena clearly shows Bytemasons are aiming for top tier security. Not just that, there was also a $145k prize pool for Wardens who can find vulnerabilities in ERN's code.

https://twitter.com/code4rena/status/1626310722769637380

23/ Code4rena has audited ENS, OpenSea, BLUR, zkSync, AAVE and many other big names in crypto.

They also audited Chainlink. You have to be a gigabrain in order to audit them 🧠

24/ Who are talking about $OATH?

@Slappjakke @RvCrypto @crypto_linn @BillyBobBaghold @MiddleChildPabk @LouisCooper_ @RiddlerDeFi @ViktorDefi @SamuelXeus @EricCryptoman @ChadCaff @0xUnihax0r @TheDeFiSaint @OnChainWizard @LadyofCrypto1 @cryptocevo
@drakeondigital

25/ If you enjoyed the thread, you can support me by retweeting the first post below:

https://twitter.com/CryptoKaduna/status/1638142161739993091

Correction tweet 24 on the tags: *Who might be interested in $OATH* 🤣