Post

@BenqiFinance

@vector_fi

More from @DeltaPrimeDefi

DeltaPrime

@DeltaPrimeDefi

Sep 25

Exploit aftermath: A thread leading up to the Post
Mortem and Reimbursement Plan.

10 days ago, we suffered a $5.98M exploit. The last
attack was resolved within 48 hours. This time it takes
longer.

That deserves an update thread.

Questions covered in tweet below👇

1/9🧵

This thread will cover a couple main questions:

1⃣ What's the status? ➡️ 3
2⃣Why the wait? ➡️ 5
3⃣What's the plan? ➡️ 7
4⃣Where's the info? ➡️ 9

2/9

1⃣What's the status... on the stolen funds?1⃣

They are being tracked. Our communication is
monitored by the attackers, so we can't go into detail.
What we can say is that we have the best in the space
on top of this.

Withdrawing is one. Getting away is something different.

3/9

Read 10 tweets

DeltaPrime

@DeltaPrimeDefi

Jun 28

Next up: Governance!

3 days until $PRIME, which begs the question:

Should $PRIME qualify you for governance?

We believe that, while the tokens are important, true decision making should come from DeltaPrime's users.

Here's the why, and the how 1/5🧵

Alignment

Holding the token exposes you to token price, but token price can change quickly. And therefore your allegiance as well.

Integrate a high-risk, high-narrative integration, hype it, and the token can moon over the course of an hour. You can sell your token, while lenders and borrowers are stuck with a broken protocol.

Redemption fees / periods mitigate these short-term mindsets like a band-aid on a never healing wound.

We believe DeltaPrime's users are better aligned with the long-term success of the platform. That's why, while you will still need $sPRIME, you will also need to use the protocol to gain voting power.

(we felt this deserved a bit more text, but don't worry. Next tweets are sized for degen-minds again)

2/5🧵

Voting power accrual

Voting power accrues over time, with a 3-year cap
Users can accrue in two ways ($sPRIME required)

1️⃣ Depositors: $10 deposited with $1 $sPRIME = 50 points per year

2️⃣ Borrowers: $10 borrowed with $1 $sPRIME = 10 points per year

3/5🧵

Read 5 tweets

DeltaPrime

@DeltaPrimeDefi

Jun 24

7 days until $PRIME launch🚀!

And here are the first things you need to know about $PRIME, $sPRIME and your Prime Account.

$sPRIME, the basics: 🧵 1/7

$PRIME or $sPRIME?

First up: in 7 days two tokens will be launched:

$PRIME - ERC20 || base token
$sPRIME - $PRIME - $AVAX / $ETH || main currency || unlocks features, Governance Power & liquidation fees

Or, in terms of food🧑‍🍳👇

2/7

🌊Deep liquidity🌊

Before we begin: While $sPRIME often takes the spotlight, $PRIME is essential.

Without $PRIME, there’s no $sPRIME!

$sPRIME is focused on deepening $PRIME liquidity, supporting our ecosystem, partners, and token stability.

3/7

Read 7 tweets

DeltaPrime

@DeltaPrimeDefi

Feb 2

With another airdrop coming up in the next days (and more in the works), it is time to remember why we exist:

To give away free money🤑

Or well, that's a means. We exist to:

📈 Help your favorite DEX grow
🏦 Improve lending as you know it
⚖️ Level the playing field

And make you become the whale

Here's how🧵

📈 Help your favorite DEX grow📈

You're a dedicated community member to your favorite DEX, but you know it can achieve more.

More TVL, more volume, more adoption. If only some whales would enter.

But whales can't enter because, even though your DEX's TVL is large, the many pools fragment this liquidity. This leads to decent-size deposits, crashing that pool's rate.

And if it doesn't crash the rate? It gets exposed to IL, needs to be managed, does not have straightforward APY. It's a hassle.

And so the whale stays away, depositing his WETH once again in another massive Aave pool. Providing nothing to the ecosystem, but deepening an already deep lending pool.

A pool that rewards equally to what it provides in ecosystem value.

1.23%

📈 Help your favorite project grow📈

You do have that expertise, you do have that time. You know that there is IL involved in LPing, but for your asset in this market, your generated fees far outweigh the IL.

If you only had that 500k yourself. You could turn that 1.23% into 20% easily. Pocket the difference, return the rest, contribute to your DEX. There is just one issue.

You're not a whale.

Read 8 tweets

DeltaPrime

@DeltaPrimeDefi

Jun 6, 2023

@yieldyak_

Imajin:

You just set up your Prime Account: 4x #AVAX long, 4x #BTC long, all gently farming with @yieldyak_ and @vector_fi.

You feel happy. Bullish...

And then the SEC decides everything was a security all along, crashing prices.

Time to restart it all?

No anon, watch this🧵

There are two ways to get back control over your health and exposure.

✅Direct deposits
✅Debt swaps

Let's dive in both

Direct deposits

While DeltaPrime might feel like a CEX at times, it is not. Everything is fully transparent, and your Prime Account is YOUR Prime Account.

Next to the added security this brings, this also lets you send funds from any wallet, straight into your account.

Read 8 tweets

DeltaPrime

@DeltaPrimeDefi

Apr 5, 2023

Guard!

We have been distributing insane yields for our depositors, ever since we launched in January.

But you are not only concerned with having high profits. There is one factor even more important.

Is it safe?

🧵1/15

Let's look at these 5 safety mechanisms in DeltaPrime, and their function in the protocol.

Safety mechanisms discussed:

- Escrow contract
- Solvency checks
- Oracle
- Withdrawal guard
- Audits

Escrow Contract

What is it?

On DeltaPrime we use an Escrow smart contract, the DSC (Dedicated Smart Contract), to send collateral and borrowed funds to.

This is your personal smart contract that, similarly to your wallet, holds your assets. It is controlled by you.

Read 15 tweets

Share this page!

Enter URL or ID to Unroll

DeltaPrime

Try unrolling a thread yourself!

More from @DeltaPrimeDefi

DeltaPrime

DeltaPrime

DeltaPrime

DeltaPrime

DeltaPrime

DeltaPrime

Did Thread Reader help you today?

Don't want to be a Premium member but still want to support us?

Send Email!