wasabi

Crypto Wasabi
Very introverted cat but can talk bout crypto

[wasabi @0xWasabi_]

It all started when i first learned crypto . .

#crypto #cryptotrading #NFTs

[The Figen @TheFigen_]

Is this correct according to the laws of physics?

[DMH 🦇🔊🌊 @DeFi_Made_Here]

First of all, oracle-based perp DEXes/lending are always a subject to market manipulations.

They need to use a number of risk parameters set by the DAO or risk management service providers to reduce the risks but most of the time "we live, we learn".

@dYdX decided to increase the initial margin for long-tail assets which is not the most optimal solution. There are a few other ways to mitigate similar issues to $YFI used by other perp DEXes.

The most obvious one is the Max OI per trading pair. This would have prevented the attacker from building a big short position on an illiquid coin.

Perps like @GMX_IO v2 @synthetix @perenniallabs @Aark_Digital and others are trying to keep LPs DN by incentivizing (funding fee, positive slippage, etc) the same long and short exposure for every token. This way LPs have exposure only to the imbalance between long and short OIs.

@gains_trade has the maximum profit on a trade set to 900% PnL. I would say it is less efficient but combined with Max OI it also protects the LPs.

To avoid insolvency risks and forced liquidations, @chromatic_perp decided to integrate predetermined TP/SL. It allows the protocol to remove an insurance fund and thereby save costs.

Trades on @symm_io are always matched against each other so there is no risk of the protocol going bankrupt. Risk parameters are set by each market maker individually.

Exchanges like @GearboxProtocol and @Contango_xyz are not exactly perp trading DEXes but margin trading. This means that there is no risk of insolvency since traders are using spot DEX liquidity. They can only open as big a position as there is on-chain liquidity available.

The above examples are not LOB perp DEXes so they have more flexibility in managing the risks but simple Max OI could have saved dYdX millions.

[trẽz @trezzz]

[1/]

$arb & $arkm airdropped free monies worth $2k - $50k to a lot of people

what do these drops have in common?
they all rewarded active community members!

there's an incoming drop with the same incentive - are you gonna miss $chrma ?

maybe start by following @chromatic_perp

[Chromatic | MAINNET LIVE @chromatic_perp]

🎨 Weekly updates ⭐️
2 weeks ago Chromatic Protocol was launched on the Arbitrum testnet, and Airdrop Program Season 1 has started.

We are very grateful to everyone who gathered on Discord, showed their support, participated in the airdrop, and provided valuable testnet feedback.

To engage with the community more, from this week, we will provide weekly updated of Chromatic Protocol.
Recently, Chromatic introduced new features:
1️⃣ CLP analytics has been added.
2️⃣Pool yield display has been added.

There are more significant features and programs updates planned for the future, with many preparations underway behind the scenes.

Once again, team Chromatic is grateful for the tremendous support from our community and is diligently preparing for the next steps ahead.

[Mars_DeFi @Mars_DeFi]

🧵Are you tired of trading on your regular everyday Perp futures trading protocol and looking for a protocol that offers more? Look no further than @chromatic_perp.

In this thread, we'll explore why it's the go-to protocol and there’s an airdrop so follow to stay tuned!!
❤️+ Rt

[hotnewcrypto.com @hotnewcrypto]

🔴 [Project Spotlight]🔴SEED OPPORTUNITY
TESTNET LIVE + AIRDROP

"Futures re-imagined"🤯

We interviewed a very early project (350 followers right now) that aims to redefine Perps trading.

👇 Let's explore it

PS: 99% of projects we choose to reach out to, perform.
Don't fade😈

[GMI @Ebubechi_GMI]

The rise of perp dexes is one highlight of this year.

These dexes allows you to trade assets with high leverage without an expiry date.

But after the success of Gmx, most perp dexes havent been able to replicate that.

But thats not the case for @chromatic_perp.

Find out why:

[THEDEFIPLUG @TheDeFiPlug]

The decentralized perpetual trading narrative has remained one of the competitive industries in the crypto space at the moment.

The shift to this new narrative is a result of the consequences of centralized exchange closure during this bear season among other reasons. To be on the safer side and get control of my assets, i decided to try @chromatic_perp out.

My experience on the platform was fun and here’s everything I found out👇

Chromatic Protocol is a decentralized perpetual futures protocol built 𝐨𝐧 𝐚𝐫𝐛𝐢𝐭𝐫𝐮𝐦.

It enables users to create and trade the futures market of a balanced two-sided market exposed to price feeds provided by an oracle, using different strategies to their own advantage.

Chromatic protocol testnet is now live, tap the link below to participate. https://t.co/BsbvpftJpq

What I found intriguing about Chromatic Protocol is that it uses the “partitioned LP with dynamic fees” concept, it the the first protocol to introduce this. concept.

Well, this is how it works; Chromatic Protocol provides a liquidity pool divided into multiple bins with different trading fee rates.

The fee rate at which trades are executed is determined based on the dynamics of taker’s trading demand and maker’s liquidity supply.

This dynamic fee system achieves a balanced maker-taker equilibrium, mitigating the inherent instability of closed systems like futures markets and significantly enhancing the sustainability of the protocol.

I also found out that chromatic Protocol is censorship-resistant. The trusted intermediaries and rent extraction that are mandatory in traditional futures market are eliminated, this ensures a fair and capital-efficient trading by processing transactions based on smart contracts.

Also the chromatic platform is accessible for anyone to freely participate in the decentralized financial market.

@chromatic_perp aims to establish “Maximum Freedom”, a goal that the existing outdated code fails to accomplish. Chromatic has a user friendly interface that is easy to navigate for both newbies and seasoned traders What separates

@chromatic_perp from other futures DEX is because it posses features that benefits its users such as;

➟ Solution for Default Risk: Predefined TP/SL —chromatic leverages smart contract for automatic and secure execution of planned liquidation. The predefined TP/SL innovation allows traders to plan their own TP/SL levels.

➟ Each LP chooses Each Risk: Separating index and settlement token— Most Perpetual futures DEX don’t give liquidity providers the freedom to select their desired risk exposure.

However chromatic innovated separation of the underlying index and settlement token which enables market creators to devise innovative configurations.
This gives room for a broader futures market by combining a non-manipulatable index from external oracles as the index and leveraging stable coins or ERC-20 tokens as settlement tokens.

➟ Decomposition of Liquidity — This allows liquidity providers to provide liquidity to both long and short pools and also have the flexibility to offer a total of 36 different fee rates.

➟ Pool — The strategy of partitioning Liquidity Providers, and splitting liquidity across 72 distinct bins for each market might be discouraging for liquidity providers that are more risk-averse.

Sighting this issue, Chromatic innovated the “Pool”, which is designed to aid risk-averse liquidity providers. The pool allows them to optimize their liquidity strategies and seek stable, long-term returns.

➟ I also read @chromatic_perp articles and I was enlightened more, they gave a broader explanation on how Perpetual futures DEX should work, trust me the knowledge there is priceless.

You should check it out https://t.co/CUCpIBVLUT

➟ $CHRMA — this is the chromatic’s platform governance token. Holders of $CHRMA token will be able to partake in chromatic’s platform governance activities such as Voting on proposals.

➟ Airdrop — In the bid to reward their supportive community chromatic will be hosting a 2-season airdrop campaign.

• Season1 Allocation : 1M-3M rCHRMA (rewarded CHRMA).
• Season2 Allocation : This will be from the remaining allocation not distributed in Season 1 Airdrop budget.

How to qualify for the airdrop👇

• Airdrop Season 1 will be assessed based on community activities and contributions during the Testnet (Arbitrum Goerli) period and the initial phase of the Mainnet, from November 2023 to sometime in Q1 2024, spanning several months

• During the testnet period, Credits and Boosters will be distributed via Zealy based on community activities and contributions, they can be used to open the random Box and obtain rCHRMA.

- Zealy Quest Board —https://t.co/Ulcv0FmU95

- Can check every new zealy quest updated in Discord— https://t.co/7lkyOKdeKh

➟ Conclusion — Overall I was Impressed with my experience using @chromatic_perp.
It is a user-friendly and efficient platform that offers variety of features that are beneficial to traders and as the platform continues to grow and mature, we can expect to see even more innovative and exciting incentives and services emerge.

[wasabi @0xWasabi_]

Nice post
#defi #perpetual #futuresDex

[DMH 🦇🔊🌊 @DeFi_Made_Here]

First of all, oracle-based perp DEXes/lending are always a subject to market manipulations.

They need to use a number of risk parameters set by the DAO or risk management service providers to reduce the risks but most of the time "we live, we learn".

@dYdX decided to increase the initial margin for long-tail assets which is not the most optimal solution. There are a few other ways to mitigate similar issues to $YFI used by other perp DEXes.

The most obvious one is the Max OI per trading pair. This would have prevented the attacker from building a big short position on an illiquid coin.

Perps like @GMX_IO v2 @synthetix @perenniallabs @Aark_Digital and others are trying to keep LPs DN by incentivizing (funding fee, positive slippage, etc) the same long and short exposure for every token. This way LPs have exposure only to the imbalance between long and short OIs.

@gains_trade has the maximum profit on a trade set to 900% PnL. I would say it is less efficient but combined with Max OI it also protects the LPs.

To avoid insolvency risks and forced liquidations, @chromatic_perp decided to integrate predetermined TP/SL. It allows the protocol to remove an insurance fund and thereby save costs.

Trades on @symm_io are always matched against each other so there is no risk of the protocol going bankrupt. Risk parameters are set by each market maker individually.

Exchanges like @GearboxProtocol and @Contango_xyz are not exactly perp trading DEXes but margin trading. This means that there is no risk of insolvency since traders are using spot DEX liquidity. They can only open as big a position as there is on-chain liquidity available.

The above examples are not LOB perp DEXes so they have more flexibility in managing the risks but simple Max OI could have saved dYdX millions.

[wasabi @0xWasabi_]

@chromatic_perp so excited !!

[Chromatic | MAINNET LIVE @chromatic_perp]

⭐️Chromatic Protocol’s Airdrop Program Season 1 Announcement ⚡️

Chromatic is excited to unveil Airdrop Program season 1!
👉 Read https://t.co/clc0sYF4Zh

⭐️A highlight aspect of sustainable growth is to retain organic users and community members. To incentivize and reward early supporters, the community will get opportunities to get rCHRMA (reward CHRMA) through the Airdrop program.

Participants actively engaged in various activities supporting the Chromatic community will receive Credits and Boosters.
Use the acquired Credits and Boosters to unlock the Random Box and acquire rCHRMA(Rewarded CHRMA)!

⚡️Join us for the airdrop here https://t.co/TmV5aUBhRH
🎯Engage in activities via Zealy: https://t.co/eguPkt60oD & Discord: https://t.co/88tTfEugTf
📅Duration: Season 1 will run from the current Testnet launch through the initial phase of the Mainnet, from November 2023 to sometime in 1Q 2024.

[Chromatic | MAINNET LIVE @chromatic_perp]

Introducing Chromatic Protocol, the ultimate Perpetual DEX.

Join us on this exciting journey and experience the power of trading like never before.

Get ready for a new era of limitless possibilities. Coming soon to Arbitrum. https://t.co/R59mxs8j49

#Perp #DEX #Arbitrum #DeFi

[wasabi @0xWasabi_]

@chromatic_perp #ChromaticProtocol #DeFi #Futures #Arbitrum #bullish
UX is so cool

[wasabi @0xWasabi_]

@chromatic_perp lets gooooooo

[Chromatic | MAINNET LIVE @chromatic_perp]

🚨 Chromatic Protocol Testnet Now Live 🚨

Experience the future of decentralized futures trading: https://t.co/6ZMwVq1ozA

Chromatic is pioneering true futures trading in the web3 financial landscape, aiming to redefine and play a cornerstone role in the space. 🌐✨

👂This is a testnet! It's a crucial arena for testing smart contracts and gathering user input. Feel free to provide feedback on the Discord channel!

Discord 👾: https://t.co/hxJO0nwaZ1

#ChromaticProtocol #TestnetLaunch #DecentralizedFutures #DeFi

[Chromatic | MAINNET LIVE @chromatic_perp]

Long-awaited, isn't it? How about we start celebrating Chromvember?

🚨Chromatic Protocol's Official Discord Server Now Open. 🚨

👉Join us! https://t.co/nATfmQB3t7
Let's have some great conversations here! 👥

Embark on a journey with us, unlocking the new era for decentralized futures right here.

[Chromatic | MAINNET LIVE @chromatic_perp]

🔊New Medium article out!
Why and How did we create the Chromatic protocol?
: https://t.co/NeSInCac2e

Following GMX’s success, there has been a proliferation of futures DEXs. However, the majority of them have merely added supplementary features to services that we’ve already seen before. As a result, public expectations for futures DEXs have been dwindling. The fact that DEXs still occupy a minor share in the crypto futures market underscores the inability of GMX and its replicated services to bring forth genuine innovation in the decentralized futures market.

The traditional futures markets have evolved over more than two centuries. Chromatic seeks to combine the wealth of experience accumulated in traditional financial markets with the decentralized principles enabled by blockchain technology to create real innovation in modern financial markets.

This article is about why and how the Chromatic protocol was created.
Read 👉 https://t.co/NeSInCac2e

[Chromatic | MAINNET LIVE @chromatic_perp]

🔥New Feature ARRIVED🔥

We added a new feature called Pool before testnet launch and updated the docs

More about: https://t.co/GdMuukKJ1X

Background :
Chromatic's unique approach involves partitioned Liquidity Providers, which split liquidity across 72 distinct bins for each market. While this system provides opportunities for risk-takers to strategically invest in specific bins at precise moments, it may seem daunting for those more risk-averse. Recognizing this, Chromatic has introduced the Pool. The Pool is designed to aid risk-averse liquidity providers, allowing them to optimize their liquidity strategies and seek stable, long-term returns.

[INVESTOR CD @GEkaeze]

Every soul in the Defi ecosystem needs balanced two-sided markets to enable them trade efficiently and exposed them to oracle price feeds giving them the edge to trade different strategies..

This is what @chromatic_perp does..

A thread 🧵 about @chromatic_perp

[wasabi @0xWasabi_]

@chromatic_perp Boo! 🎃👻