Thread by @DefiVampire

Discover the dominant trend of 2023 #LSDs; boasting immense potential!

-Although its 5% yield lacks allure, @asymetrix_eth eliminates technical complexities, empowering small investors with transparent and lucrative staking rewards #Asymetrix

Like & RT🧵

𝙊𝙥𝙚𝙣 𝙏𝙝𝙧𝙚𝙖𝙙

🧌 In this thread; I will walk you through:

» Introduction to @asymetrix_eth
» 𝘞𝘩𝘢𝘵 are #LSDs
» 𝘞𝘩𝘺 @asymetrix_eth
» 𝘏𝘰𝘸 to get started
» 𝘏𝘰𝘸 #Asymetrix platform works
» Utilities
» Tokenomics
» Security
» Alpha
» Analytics & achievements
» Socials

𝘣𝘦𝘭𝘰𝘸

#Asymetrix is a decentralized system that 𝘢𝘭𝘭𝘰𝘸𝘴 for fair distribution of staking-generated yields without custodial control.

→ This protocol allows you to earn extra rewards by putting your stETH to work. Imagine a secure system where you earn equal reward with others!

But before we 𝘱𝘳𝘰𝘤𝘦𝘦𝘥 ; what is staked ETH (stETH)

→ Staked ETH, also known as stETH, is a crypto token representing Ethereum that is deposited or "staked" to support blockchain operations. It is built on @LidoFinance .

- With your staked ETH ; you earn rewards 🎉

The Asymetrix protocol 𝘳𝘦𝘷𝘰𝘭𝘶𝘵𝘪𝘰𝘯𝘪𝘻𝘦𝘴 the liquid staking market by offering users the chance to earn higher yield up to 500%.

- Instead of predictable returns, participants receive random profits from all staked ETH (asymmetric distribution).

#Asymetrix takes inspiration from UK's Premium Bonds, boasting €100 billion in assets with 22 million users.

→ This 𝘴𝘶𝘤𝘤𝘦𝘴𝘴𝘧𝘶𝘭 model aligns perfectly with crypto, providing transparency, fairness, decentralization, and community involvement.

#Asymetrix strives to 𝘳𝘦𝘱𝘭𝘪𝘤𝘢𝘵𝘦 the success of Premium Bonds in the crypto world, where many users can become winners.

- By 𝘥𝘦𝘱𝘰𝘴𝘪𝘵𝘪𝘯𝘨 stETH in the pool which helps in network security through staking, users have the chance to win life changing rewards!

LSDs:

#LSDs aka Liquid Staking Derivatives represent a user's staked assets and can be used in DeFi activities, enabling them to earn 𝘢𝘥𝘥𝘪𝘵𝘪𝘰𝘯𝘢𝘭 yield on top of their staking rewards.

More on LSDs:

👇🏻

coingecko.com/learn/what-is-…

🕵🏻 𝘞𝘩𝘺 @asymetrix_eth :

【1】Solves the technical complexities associated with individual staking & eliminates the tedious process.

【2】With your stETH; you earn higher yields better than the traditional low yields.

【3】Both Elites and normal investors have a fair share!

#Asymetrix selected stETH due to its transparency and perfect alignment with the market.

→ Ethereum, a premier asset, naturally generates 𝘴𝘵𝘢𝘬𝘪𝘯𝘨 rewards. Additionally, stETH reigns as the leading liquid staking token with a market cap surpassing $5 𝘣𝘪𝘭𝘭𝘪𝘰𝘯.

How to get started:

👇🏻

1/ Get your $ETH from any CEX or DEX like Binance if you don't have it.

2/ Follow this guide to convert it to stETH binance.com/en/how-to-buy/…

3/ Go to app.asymetrix.io

4/ Click on 𝘤𝘰𝘯𝘯𝘦𝘤𝘵 wallet. Make sure you are on the Ethereum chain.

Click on 𝘥𝘦𝘱𝘰𝘴𝘪𝘵 and type the amount of stETH you want to be deposited into the #Asymetrix pool.

- Minimum 𝘥𝘦𝘱𝘰𝘴𝘪𝘵 is 0.1 stETH . 1:1 equivalent to ETH value

🔐 Key factor is User’s odds which are based on the TWAB & PICKS parameters.

Follow me as we delve deep!

𝘛𝘞𝘈𝘉: aka Time-Weighted Average Balance - As an avid staker; what comes to my mind is my Liquidity.

- To ensure fairness, it's important to consider how long a user's stETH has been in the pool and the yield it has generated.

This prevents wealthy users from taking 𝘢𝘥𝘷𝘢𝘯𝘵𝘢𝘨𝘦 by making large deposits at the last moment and stealing yields from smaller users.

- Therefore, the first indicator that affects the odds is TWAB

𝘌𝘹𝘢𝘮𝘱𝘭𝘦:

- User 1 held 100 stETH resulting in a TWAB of 100.

- User 2 kept 1,000 stETH for only 1 day (14.285714285714% of the time) = TWAB of 142,8571428571.

» Total TWAB = 242,8571428571.
» User 1 = 41,1764705882%
» User 2 = 58,8235294118% of the total TWAB.

#Asymetrix seeks to address three challenges through its innovative approach of "adding excitement to the 𝘳𝘰𝘶𝘵𝘪𝘯𝘦 ETH staking" while empowering investors!

- Let's delve into the mechanism that will be employed to accomplish this.

👇🏻

How @asymetrix_eth platform works:

【1】Deposit your stETH tokens to the Asymetrix protocol:

- The smart contract generates the Pool share token which distinguishes your stake in the pool and reflects your share in the protocol.

- The PST token is essential for withdrawals.

2) ETH staking 𝘳𝘦𝘸𝘢𝘳𝘥𝘴 are accumulated: The staked ETH (stETH) balance in the protocol grows with the Lido APR and updates daily, every 24 hours

3) Yields are distributed: The draw takes place once in a week and determined by the ChainLink VRF

👇🏻

https://twitter.com/asymetrix_eth/status/1659509867973951489?s=46&t=7Qo4y0J1c8KU41G9j6q0xA

To ensure fairness, the Asymetrix protocol incorporated @chainlink VRF, enabling the generation of random numbers that users can verify on-chain, promoting transparency and fairness.

- User 𝘥𝘦𝘱𝘰𝘴𝘪𝘵𝘴 are automatically retained in the protocol for subsequent draws!

Irrespective of the result, users retain their deposits and reap their benefits during ETH price spikes.

- All users are 𝘳𝘦𝘸𝘢𝘳𝘥𝘦𝘥 with $ASX tokens based on their pool stake. Asymetrix ensures no losses.

4) At any time, users have the option to withdraw their deposits.

- Asymetrix Protocol 𝘤𝘰𝘯𝘷𝘦𝘳𝘵𝘴 existing users' PST tokens to stETH tokens at a 1:1 ratio through burning 🎉

Assuming @DefiIgnas , @DeFi_Dad , @Route2FI , @IvanOnTech , @rostyketh , and 95 others deposit 1 ETH each into the Asymetrix smart contract, totaling 100 ETH.

👇🏻

These 100 ETH 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘦 an additional 5 ETH over time as a staking reward.

👇🏻

#Asymetrix collects the 5 ETH and fairly distributes it to one user while all 100 users retain their initial deposits!

-Some users may receive no rewards, while the winner gets a 500% reward. Keep in mind that users keep their initial deposits & receive rewards in $ASX tokens.

Reward for stakers
» Buy backs and burns
» Fees for yields generated can be integrated depending on the DAO 𝘷𝘰𝘵𝘦𝘴.

🧌 Governance model: #Asymetrix governance model are rules and decision that guide the 𝘤𝘰𝘮𝘮𝘶𝘯𝘪𝘵𝘺.

- A user's value in the 𝘋𝘈𝘖 represented by an $ASX token, gives them weight in the governance vote!

🗳️ Through voting, users can change protocol settings like :

» Number of 𝘸𝘪𝘯𝘯𝘦𝘳𝘴 in each draw
» Distribution of rewards among the winners
» Management of the treasury

Tokenomics:

» Total 𝘴𝘶𝘱𝘱𝘭𝘺: 100,000,000.00 (100M) $ASX
» Network: ERC 20
» Community : 50%
» Team and Founders : 25%
» Investors: 25%

Security

#Asymetrix is 𝘢𝘶𝘥𝘪𝘵𝘦𝘥 by @hackenclub !

» Audit : hacken.io/audits/asymetr…

» Asymetrix incorporates the 𝘵𝘳𝘶𝘴𝘵𝘦𝘥 open-source code from the PoolTogether protocol (docs.pooltogether.com/security/audits) and the LIDO asset (stETH) used in the 𝘱𝘳𝘰𝘵𝘰𝘤𝘰𝘭.

However, potential risks include smart contract vulnerabilities and that’s why @asymetrix_eth is monumental on security!

- A bounty 𝘸𝘰𝘳𝘵𝘩 total prize of $110,000 as a reward for the best hackers to demonstrate the smart contract's vulnerabilities.

» hackenproof.com/asymetrix

Alpha:

With all 𝘪𝘯𝘵𝘦𝘳𝘦𝘴𝘵𝘪𝘯𝘨 features like:

» Secure and Decentralized Technology
» Fair Rewards Distribution
» Simplicity and User-friendly Interface that #Asymetrix integrates, The protocol is worth looking into. Defo going to capitalize on the current #LSDs run

Analytics & achievements

▫️ @DefiLlama : defillama.com/protocol/asyme…

▫️ @alphagrowth1 : alphagrowth.io/asymetrix-prot…

▫️ GitHub: github.com/Asymetrix-Prot…

𝘈𝘤𝘩𝘪𝘦𝘷𝘦𝘮𝘦𝘯𝘵𝘴: #WhalesDay //

https://twitter.com/asymetrix_eth/status/1659509867973951489?s=46&t=7Qo4y0J1c8KU41G9j6q0xA

𝘉𝘦𝘧𝘰𝘳𝘦 𝘐 𝘤𝘰𝘯𝘤𝘭𝘶𝘥𝘦;

Under the users odds: We have TWAB and PICKS.

About PICKS: Picks can be likened to the number of tickets you hold!

- The draw involves users with Picks, and every pick contributes to selecting the winner.

First, we need to calculate the Total Picks, which is determined by dividing Total TWAB by the Minimum Deposit.

In this case, it's 242,8571428571 / 0.1 stETH, resulting in 2,428 picks (rounding down decimals).

- Now, let's determine how many 𝘱𝘪𝘤𝘬𝘴 each user will receive.

The TWAB 𝘱𝘦𝘳𝘤𝘦𝘯𝘵𝘢𝘨𝘦 comes into play here.

User 1 will receive 2,428 x 41,1764705882% = 999 picks (rounding down decimals), while

User 2 will receive 2,428 x 58,8235294118% = 1,428 picks (rounding down decimals).

Read more: docs.asymetrix.io/asymetrix-prot…

𝘚𝘰𝘤𝘪𝘢𝘭𝘴:

» Twitter: @asymetrix_eth
» Website: asymetrix.io
» Discord:discord.gg/asymetrix
» Doc:docs.asymetrix.io
» GitHub: github.com/Asymetrix-Prot…

I spent hrs writing this thread. To show support help Like and Retweet 🫡

#𝘛𝘩𝘳𝘦𝘢𝘥 on @asymetrix_eth !

Tagging chads

@DefiIgnas
@rostyketh
@DeFi_Dad
@Route2FI
@IvanOnTech
@ViktorDefi
@0xBispo
@hc_trades
@0xBigzy
@coinesper
@CRyptOracl3
@SherifDefi
@defi_molly

https://twitter.com/DefiVampire/status/1659946293521793026