Today DeltaPrime turned2⃣ years!

And what a year this was. Where our first year was all about exploration, this past year has been all about growth.

External growth for the first six months
Internal growth for the second six months

Let's have a look 1/3🧵 Jan 10th - July 10th (2024): Number goes up

Where DeltaPrime initially gained stable footing on both Avalanche and Arbitrum, after its first birthday we saw a period of massive wins, where DeltaPrime:

✅collaborated with @GMX_IO and @avax to bootstrap @GMX_IO's first synthetic pools on @avax

✅became the first protocol to join @Colonylab's ESF, which was oversubscribed by $946k / $500k

✅was awarded a 750k LTIPP grant by @arbitrum; the same size as @aave & @LidoFinance

✅launched PRIME & sPRIME, most owners of which received a 50% $AVAX & $ETH airdrop in their wallets within its first month

✅saw its TVL increase from $28M to $72M in 6 months time...

and plenty more.

2/3🧵

Utilization Based Interest incoming

Today, at 4pm CET, we're unpausing one of DeltaPrime's most essential elements: the Utilization Based Interest rate (UBI). This will have a volatile effect on interest rates for the next few days.

UBI follows a list of granularly unpaused features, each thoroughly audited by @BlockSecTeam before unpausing:

✅ Trading
✅ Deposits / Withdrawals
✅ Borrowing / Repaying
✅ and more

Here's what this means 🧵1/9 Tweets:

Current Interest 🧵3/9
Current Utilization 🧵4/9
Utilization Based Interest rate 🧵5/9
So why hardcode 6/9
What is next: For Savings? 🧵8/9
What is next: For Prime Accounts? 🧵9/9

🧵2/9

Update thread

Earlier this month DeltaPrime's Savings pools were attacked for a total damage of $4.75M.

In this thread we'll dive into the updates made since then. Specifically:

- Where to find updates? 🧵2/8
- Damage per pool 🧵3/8
- Partial unpause Live 🧵4/8
- Restrictive security feature incoming 🧵5/8
- Unpause ETAs 🧵6/8
- Fund retrieval 🧵7/8
- Way forward 🧵8/8

1/8 Where to find updates?

This update is a follow up on our earlier update which can be found through our profile: .

Additionally, our first line of communication is on our Discord, which can be found on our profile or official website. Don't click any links in this thread.

https://x.com/DeltaPrimeDefi/status/1856343701381058677

🚨Convert rTKNs to $PRIME before Wednesday!🚨

(important note: there are no links for conversion. You can find conversion within your Prime Account)

After the September attack, affected users received rTKNs. These will be redeemable for their dollarvalue in assets through future revenue.

However, additionally, 33% of the team allocation will be sold and donated for faster reimbursements.

If you consider claiming $PRIME: continue reading🧵 (1/8) This thread is written to help those affected by the attack in their decision between the two assets. If you were affected, you hold rTKNs today.

We will dive into:

- The rTKN
- $PRIME & $sPRIME
- rTKN -> $PRIME conversion
- How to choose
- How to convert

(2/8)

DeltaPrime Pulse: Edition #1

This month:

✅ DP on Stage
✅ New: Video Community Call
✅ New: Burd Log
✅ Partner Spotlight (ft: @GMX_IO, @GoGoPool_ & @yieldyak_)

Read the full Pulse:

Or the TLDR mini-thread 🧵👇 1/8deltaprime.io/blogs/news/the… DeltaPrime at the Avalanche Summit...

Last month, the Avalanche Summit took over Buenos Aires, and the DeltaPrime team was there in full force!

Without a booth, we roamed freely, connecting with partners and building new relationships across the @Avalanche ecosystem🔺 (2/8)

Did you notice the new Burd Log?

Over the course of the next months, we will be publishing weekly articles, diving into Web3, DeFi and DeltaPrime specifically.

With today:

Cross-Margin: The Unsung Hero of Capital Efficiency:

Smol thread 🧵1/6deltaprime.io/blogs/academy/… 2/6: The Basics of Cross-Margin
Did you know that cross-margining can offset risk and boost portfolio resilience?

Unlike isolated accounts, where each position operates independently, cross-margin combines multiple positions within a single account.

This allows gains📈 in one position to offset potential losses📉 in another—creating a more resilient portfolio strategy.

DeltaPrime Blue (Arbitrum) unpaused

You can now rebalance, deposit, withdraw, repay and borrow on DeltaPrime Blue again. Massive thanks for everyone's patience and support throughout this period.

Video AMA + Post Mortem + Reimbursement Plan below👇 Earlier today we posted our Post Mortem + Reimbursement Plan.

In DP fashion it is an extensive document, however, we would highly recommend those affected and everyone interested in the future development of DeltaPrime to give it a read.

medium.com/@Delta_Prime/d…

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

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🧵

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

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%

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

Let's get liquid💧@BenqiFinance💧

Comparing 3 easy $sAVAX strategies, and how they impact your Prime Account.

Comparing:
- Health (leverage)
- Current APY
- Risks (all have sAVAX depeg+smart contract)
- Rewards
- Intuitiveness to set up
- Efforts to manage

🧵🧵🧵🧵🧵🧵🧵🧵 USDC ➡️ sAVAX

This is for the #AVAX Bulls amongst us. The ones that look at a $14,89 price and laugh. Who know it will never be this low again and put their money where their mouth is.

What's that strat?

1⃣Deposit $USDC
2⃣Borrow $USDC
3⃣Swap all to $sAVAX
4⃣Farm it all

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

Yesterday we posted an announcement in our Discord with a couple of important updates.

In this smol thread we share the same announcement, so everyone is up to date🫡

- Current borrowing rates
- This week's $GLP rate
- Platypus reimbursement
- What's coming

🧵1/11 gm! Couple of updates

1⃣ We just got a couple million extra in the pools from our DeltaPrime frens🙌This significantly lowers borrowing rates to:

#AVAX 12.32% -> (now 12.57%)
#USDC 13.68% -> (13.49%)
#USDT 8.45% -> (9.27%)
#BTC 7.43% -> (7.56%)
#ETH 7.89% -> (9.29%)

2/11

Happy Wednesday🎉

Sharing a couple of today's wins:

🏆TVL crossed $10M
🏆#4 monthly grower in DeFi
🏆Account APY on $GLP crossed 500% mark

Feeling bullish 🐂🐃

1/5🧵 🏆TVL crossed $10M🏆

DeltaPrime is growing. Moreover, we are setting the stage for #Avalanche to unlock its trapped liquidity.

Out of the $12,9M in TVL, $11,3M is actively flowing back into the Avalanche ecosystem. A record in efficient borrowing.

Let's Unlock #Avalanche

"17% interest to borrow USDC is crazy"

" 11% to borrow #AVAX ? Why do that?"

What if I told you that these three things are true:
✅Most of our users who borrow, are profiting
✅The interest rates will increase further this week
✅Not a single person borrowing will mind

Why?🧵 First a look at what makes people (yours truly included) borrow at these rates in the first place:

The price you pay

Yes, you can borrow USDC on AAVE for 2.42%, but what will you do with it?

After all, you just locked 120% of your USDC in #AVAX.

Now, that is stuck...

Updated strategy page: docs.deltaprime.io/prime-brokerag…

Example strats discussed:
♥️Health neutral
🧮Delta neutral
📈Balanced
👍Efficient Overcollateralization

🧵TLDR + current highest APYs per strat🧵: Note: strategies below are meant as examples of potential ways you can develop your own strategies. While all numbers are accurate at the time of writing (and include interest paid), they can change over time. NFA, always DYOR, you know the drill.

Legal gave the go, let's dive🧵

Whenever we talk about DeltaPrime, it goes something like this:

DP: "..so you can deposit 100K, borrow 400K and there are no credit checks. You can use the full 500K and we won't have a clue who you are."

Anon: "Sounds risky"

"It is not, here is why: " 🧵 1/8 Traditionally, whenever you deposit collateral, this gets locked up in the protocol where you deposit it.

You deposit $100K #AVAX as collateral and borrow 80K $USDC?

Your 100K is now trapped and ready for liquidation if $AVAX drops in price.

2/8