We keep shipping new instruments every week.

But we never lose sight of the long-term plan: V3 is on the horizon.

Likely Contango will become 𝘺𝘰𝘶𝘳 𝘰𝘯𝘭𝘺 𝘦𝘯𝘵𝘳𝘺 𝘱𝘰𝘪𝘯𝘵 𝘵𝘰 𝘋𝘦𝘍𝘪. 🧵👇 We've been building trading software for +15 years, and we know UXUI is the #1 priority.

That's why V3 plans now go beyond improving spot execution. V3 introduces new features to capture more verticals and streamline user flow across them.

The oTANGO redemption feature is now live (and audited).

Early users who accrued points can now claim 3x that amount in oTANGO, an option token that can be exercised to acquire TANGO 1:1 at a potential discount.
Check your balance 👉 app.contango.xyz/otango/claim The discount at which you can redeem TANGO depends on its ongoing market price.

The discount is above 0% when the TANGO price is above $0.045.

The discount is 0% when the TANGO price is at $0.045, i.e. with an FDV of the $45M seed valuation.

⚠️ If the TANGO price is under 0.045$, the redemption (or exercise) price remains at 0.045$.

Staking is live.

Protocol fees have been enabled.

Enjoy the ride. Staking involves 3 steps:

1️⃣ Providing liquidity on @Balancer
2️⃣ Staking your LP tokens on Contango
3️⃣ Earn fees

Short explainer below:

Today at 13:00 UTC all TANGO sold via @FjordFoundry will be claimable.

What next?

1️⃣ A TANGO/wstETH pool has been seeded on @Balancer. It will allow TANGO holders to deposit TANGO and lock their LP tokens on Contango to earn 100% of protocol fees. 🧵👇
balancer.fi/pools/arbitrum… @FjordFoundry @Balancer Please note: the staking screen and protocol fees will be enabled later today.

You can still provide liquidity on Balancer now, and lock your LP tokens a few hours later.

A question we’re getting a lot recently, regarding the upcoming $TANGO sale:

→ How is it possible to avoid sell pressure once the token goes live, given that 18% of the supply is allocated to an airdrop?

Some points to consider (obviously NFA).  🧵👇 1️⃣ First of all, the @Fjord sale is happening through a fixed-price mechanism, where anyone can buy in at a $45M FDV ($0.045 per token).

9 days to go until launch.

Time for a TANGOnomics deed dive:
1️⃣ TANGO utility
2️⃣ The role of stakers
3️⃣ The role of traders TANGOnomics aims at deepening TANGO liquidity and incentivizing both stakers and traders.

After the @FjordFoundry sale, an 80/20 @Balancer pool will be spun up on Arbitrum.

You just heard about the TANGO sale.

Cool.

But have you heard of Contango v3?

Lemme introduce you to the magic word of Double Dutch Auctions. 🧵👇 What’s Contango v3 all about?

v2 found a clear PMF reaching impressive growth in less than a year. 

A lot of this success is attributed to loops where price discovery occurs on-chain, such as ETH derivatives (e.g. stETH) and USD derivatives (e.g. sUSDe).

Aaaaan we're live.

Trade the first expirables in #DeFi on contango.xyz

Code is unaudited. So before apeing in, maybe read a few notes below. 
👇 Contango's expirables are derivative instruments to buy or sell assets at a specific price and date in the future.

Read how they differ from futures and forwards: bit.ly/3UThLR4

Also, remember @FTX_Official? If you are looking for a DeFi alternative, we got you fam.

In a few days we’ll launch a public beta version of Contango on @arbitrum.

For the first time in history you'll be able to trade expirable contracts fully on-chain. No order books. No liquidity pools. Pure #DeFi style. 💃

Here's a sneak peek into our interface.
👇 @arbitrum Opening a new position is as simple as setting the order size (the quantity) and your collateral (margin). Contango provides you with a detailed recap before submitting your trade.

Notice how fees are set to 0.

Why are we alone in this quadrant?

A short thread about how we came up with the current design for Contango and how it is set to become a DeFi primitive. First, why has no one built expirable futures on-chain before? A few reasons:

1) With an AMM design you take on unlimited risk on the protocol side - any perp instead settles on a regular basis via funding fees. Also, with an AMM model you need to attract liquidity to your pools

Yesterday we had an interesting discussion with the team at @element_fi about:

1. Fixed-rates
2. DeFi innovation
3. TradFi and DeFi
4. Composability
5. Structured products
6. Market efficiency
7. DeFi trends

Here are some hot takes (free alpha?) from the industry experts 👇 @element_fi On fixed-rates:

@KamelAouane: "The next wave of DeFi will see the growth of fixed-rate markets. It's a $130T economy in TradFi but it's still in its infancy in DeFi. If we're serious about eating TradFi, fixed rates are a building block that we must have."

Gm fam! We're happy to announce we raised $4M in a round led by @paraficapital + @TheSpartanGroup @coinbase @dlabvc @BlockchainAG @AngelDAOorg + trading firms @GSR_io @cmsholdings @ambergroup_io  @CumberlandSays (Angels below 👇) @paraficapital @TheSpartanGroup @coinbase @dlabvc @BlockchainAG @AngelDAOorg @GSR_io @cmsholdings @ambergroup_io @CumberlandSays A big thanks to our 👼:

@DeFi_Dad
@AlexSmirnov__
@bneiluj
@joshua_j_lim
@lawmaster 
@CryptoMHchn
@nremond
@WindraThio
@tempofeng
@0xbrainjar
@mhonkasalo
@wilbarnes 
+ Andrew, Brian, Dave, Dim, Eric, Fran, Juan, Loïc, Mirza, Nick.

Ok, time to dig deeper into how Contango works. 

We've written an easy-to-digest article 👉 bit.ly/3P0DpRm

Here's the TL;DR 👇 1/ How Contango works

Contango has no liquidity pool, no order book. It simply uses the liquidity of underlying fixed-rate protocols. Futures are priced by replicating their cash flows on spot and fixed-rate markets.

We basically created a derivative market out of thin air 😎

After 6 months of stealth mode, Contango is finally ready to bring expirable futures to DeFi! 💃 

We're happy to announce that we're an incubated project at @Alpha_Launchpad, @dlabvc & @BlockchainAG - amazing partners!

A sneak peek into Contango👇 @Alpha_Launchpad @dlabvc @BlockchainAG 1/ What is Contango?

Contango is a non-custodial DeFi exchange offering expirable futures without order books or liquidity pools. When a trader opens a position, the protocol borrows on the fixed-rate market, swaps on the spot market, then lends back on the fixed-rate market.