Thread by @SamuelXeus

The long-awaited #Shanghai upgrade is finally on.

#LSD narrative is expected to take off from here.

One of the innovative #LSD projects that should be in your bag is $ASX.

Why @asymetrix_eth?

Let’s dive in 🌊👇

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@asymetrix_eth is a decentralized, non-custodial protocol for asymmetric yield distribution generated from staking.

Its innovative approach makes staking more exciting, especially for average holders, by solving significant issues faced in regular ETH staking.

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🟢 Why stETH?

Asymetrix chose stETH as the main asset due to its transparency and product-market fit.

stETH is the most dominant token in liquid staking protocols, with a market cap of over $5 billion.

Ethereum is the focus since it generates native yield from staking.

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How #Asymetrix works in 5 simple steps👇

- Deposit stETH tokens into the pool

- The protocol accumulates $ETH staking rewards

- Yield is distributed to users periodically in a provably fair manner

- Winners receive rewards automatically

- Users can withdraw at any time.

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Think of Asymetrix as a lottery where everyone keeps their tickets!

All users hold on to their initial deposits, while some receive 0% staking rewards, and one lucky winner gets 500%.

This adds excitement and encourages more people to stake their ETH.

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#Asymetrix's inspiration came from UK's Premium Bonds, a financial instrument with over £100b in assets used by 22 million people.

By bringing this proven success story to crypto, #Asymetrix offers fair, auditable, decentralized, non-custodial, & community-driven rewards.

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#Asymetrix aims to create a crypto Premium Bond analog that provides average profitability without sacrificing the chance for super-large rewards.

If you ask me, It's a win-win situation.

Incentivize users to hold $ETH while securing the network by staking.

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🟢 GOVERNANCE MODEL

The #Asymetrix gov model is designed as a DAO, meaning the community owns, controls, and governs the protocol.

Users' value in the DAO, represented by $ASX tokens, gives them weight in the gov vote, empowering users to shape the protocol’s future.

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Participating in the DAO allows users to change protocol settings like the number of winners, reward distribution, treasury management, and more.

Users can also create topics, participate in debates, and vote on proposals in the forum and on Snapshot.

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$ASX TOKEN DISTRIBUTION

The total amount of $ASX - 100M
Type - ERC-20

- 50% = Community.

- 25% = Team and Founders with a 12-month cliff and 48-month vesting period.

- 25% = Investors with a 12-month cliff and 48-month vesting period.

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🟢 SECURITY

Security is a top priority for Asymetrix.

Hacken, an independent third-party security team, audited #Asymetrix.

The Lido asset (stETH) is used, and Asymetrix also partially utilizes the open-source code of the PoolTogether protocol for added security.

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However, there are potential risks involved.

- Smart contract risk: All Ethereum protocols risk hacks and exploits.

- Counterparty risks: Reliance on Lido and Chainlink introduce risks beyond #Asymetrix's control.

- User risk: Users may make errors, losing access to funds.

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But Asymetrix's code was audited to minimize risks & the protocol uses open-source code for transparency.

There's also a bug bounty program to encourage identifying and fixing security flaws.

Remember, Asymetrix is decentralized & you only participate at your own risk.

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🟢 REFERENCE

To learn more about #Asymetrix

- Website: asymetrix.io

- Docs: docs.asymetrix.io/what-is-asymet…

- Join Discord: discord.gg/asymetrix