Chicken Bonds (🥚, 🐔)

A novel bonding mechanism | Amplified Yield | Dynamic NFTs.
Built by: @LiquityProtocol.
Discord:

[Chicken Bonds (🥚, 🐔) @ChickenBonds]

What is Chicken Bonds?

https://t.co/MvVjg7IZMa

[Liquity @LiquityProtocol]

The LUSD ecosystem

Liquity's ecosystem is constantly growing, and you can find LUSD on multiple DEXes and chains.

Keen to know what the biggest liquidity venues are for LUSD?

Let's have a look 👇

🔹LUSD - 3CRV pool, $14.3m on @CurveFinance, Ethereum
🔹LUSD - USDC pool, $620k on @CamelotDEX, @arbitrum
🔹LUSD - WETH pool, $1.50m on @VelodromeFi, @Optimism

Which liquidity pools currently provide you with the highest yield?🤔

🔹LUSD - USDC pool, 39.60% APY, $1.03m on @CamelotDEX, @arbitrum
🔹LUSD - USDT pool, 19.61% APY, 244 K on @VelodromeFi, @Optimism
🔹LUSD - USDC pool, 23.06%, 279 K on @aerodromefi, @base

What are you doing with your LUSD?

Share your insights! 👇

[Bojan @bjnpck]

$bLUSD offers a 6.4% yield on a stablecoin.

The price increased 18% since launch in Oct '22.

If you disregard the launch-frenzy, and just look at last 90d, the yield is 6.4% annualized.

Just in case anyone still wants to hold a #stablecoin

[Liquity @LiquityProtocol]

Borrowing LUSD on Starknet

From now until the end of the year, users who borrow through @Nimbora_ on @starknet do not have to pay L1 gas fees!

Check it out 👇

[Bojan @bjnpck]

Yes... keep going.

[Liquity @LiquityProtocol]

Decentralizing DeFi frontends

Liked our recent content around running local apps?

Check out @edwardmulraney's piece on how local applications work👇

https://t.co/2R1ZnZ41Wx

[Chicken Bonds (🥚, 🐔) @ChickenBonds]

@uhr3al @bjnpck 😭

[Chicken Bonds (🥚, 🐔) @ChickenBonds]

The coop is healing.

[Bojan @bjnpck]

If you have @ChickenBonds to unload, here is your chance.

🐔 🚀

[Liquity @LiquityProtocol]

Liquity v2 workshop in Istanbul 🇹🇷

Our team met in the melting pot of cultures on the Bosporus, to melt some minds working on v2.

Over the 3 days, we went deep into the rabbit hole of what is possible in CDP based systems and beyond.

How can we improve on v1?
How do we align sustainable incentives?
How to ensure the system stays immutable?
How to optimize oracle and LST decentralization?

This was the toughest retreat so far.

But if your goal is to design a new primitive, there is no way around making difficult decisions and shifting what is possible.

Those who work hard also need to play hard!

Helped by the splendid Turkish cuisine and some good old persistence we made great progress.

So get ready for something bold in 2024!

We'd like to thank @PestoPoppa and @cediwaldburger for joining us and constantly pushing us onwards.

[Liquity @LiquityProtocol]

Q3 highlights and a recap 👇🔵

🔝A stellar Q3 for #Liquity as the protocol soared to new heights! A few highlights:

- Reached a record number of open troves
- The protocol's vibrant community has blossomed to over 50k followers on X!
- As imitation is the sincerest form of flattery, Q3 also marked Liquity coming in the top 3 of 'most forked protocols' by TVL

Despite market whirlwinds, the system's resilience shines, proving that Liquity Protocol and LUSD are built to last 🙌

In the next few days, we will share some of the highlights of Q3, starting with a Treasury update on various DAOs 👀

👇

#Q3Recap Treasury Update:
Q3 saw an influx of DAOs & protocols shifting towards LUSD, moving away from a reliance on centralized stablecoins. The most notable ones being:

✅@GearboxProtocol swapped 50% of their treasury into LUSD from USDC to cut centralization risks ($1.8m)

✅@Silofinance followed suit, and diversified their treasury with a $1M USDC to LUSD swap

✅@baofinance swapped their DAI and USDC for LUSD, further amplifying decentralization efforts

As DAOs continue to look for resilience, LUSD emerges as the de facto choice to turn to 🦾

As a reminder, LUSD is:
- Immutable
- Backed by ONLY trustless collateral (ETH)

Which DAO do you see as the next to diversify their treasury with LUSD? 🤔

[Liquity @LiquityProtocol]

The LUSD ecosystem: L2's

Although Liquity's contracts are immutable & on mainnet only, that doesn't stop the stablecoin to foray onto various L2's via bridges 🌉!

Did you know that LUSD is available on all of @optimismFND, @arbitrum, @zksync, @Starknet, and @0xPolygon?

And as of this week, the most decentralized stablecoin is also available on.... 🥁🥁

@BuildOnBase 🔵

LUSD on all these chains can be accessed and 'bridged' through the various official bridges that support them.

However, there is ONE chain where you can do more than just bridge 👀👇

With @Starknet, users can actually access Liquity to borrow, and benefit from:

• 3x-7x less gas cost
• No minimum loans
• Benefit from the various DeFi projects that exist within the @Starknet ecosystem

Check out this guide as to how to get started here:
https://t.co/9qZ9Afiy14

So what other DeFi stuff can you do across all these chains?

Join us tomorrow, and have notifications on 🔔

[Liquity @LiquityProtocol]

The Liquity Ecosystem 🌍

As LUSD & LQTY get adopted into various protocols and layer 2's, so do their use cases!

Explore our informative infographic, and stay tuned for an in-depth journey into the Liquity ecosystem in the weeks to come 👀

👇

[Liquity @LiquityProtocol]

ICYMI, LUSD has landed on @Starknet 👉 👈

Looking for liquidity provisioning opportunities?
@EkuboProtocol has you covered!

LUSD liquidity providers can get rewards from the LUSD-USDC pool 👀

Check it out 👇
https://t.co/tgTzYzR0UH

[Liquity @LiquityProtocol]

🪙Liquity becomes the Gold Standard on @DefiSafety 0.9, getting a score of 96!

Liquity is the first protocol to be assessed by the new rigorous and enhanced Defi Safety 0.9 protocol Process Quality Review (PRQ) report.

Through 0.9, @DefiSafety have found that Liquity's documentation and security practices are top-grade and give the protocol an impressive score of 96. 🔝

The work of the DeFi Safety team is pivotal in advancing transparency and enhancing best security practices in the DeFi landscape.🙏

📄Read the comprehensive report here: https://t.co/b3i1EHRed2

[Liquity @LiquityProtocol]

Did someone say double digit yield on LUSD? 👀 🔵

Liquidity providers on Maverick (@mavprotocol) can get double digit yield on the LUSD-USDC pool ✦

To the LUSD holders, & the Liquity community: you can supply LUSD liquidity to earn extra rewards at:

https://t.co/pROwii1xxW

[Liquity @LiquityProtocol]

📣 🚨

Interest-free borrowing is now live on @Starknet 🐺

@Nimbora_ now have an integration of Liquity on @Starknet

Users can now borrow on @starknet & get
- Cheaper gas fees ⛽
- No borrow minimums ✅
- Interest-free borrowing and LUSD on an L2 🔵

👇

https://t.co/fl9FYHEYSg

[Liquity @LiquityProtocol]

Another one⭐

LUSD and LQTY have found a new home on @MysoFinance’s freshly launched v2 on #Ethereum! 🏡

MYSO offers:
✅Zero-Liquidation P2P Loans
✅No interest rate risk
✅No counterparty risk

With MYSO, the Liquity community can now do things like borrow or lend LUSD against LQTY (or vice versa). Loan terms are set by each lender individually.

👉Explore the opportunities here: https://t.co/WgtfFNXd1h

[Liquity @LiquityProtocol]

Congrats to @DeFiCollective_ on the launch!

Their motivation to support innovative DeFi protocols, through expertise in governance, liquidity, & integrations resonates deeply with the values at Liquity

Here's to the chad builders across DeFi & 🐜 's forging ahead together

👇

[Liquity @LiquityProtocol]

Looking for a stablecoin that is

- RWA free
- Backed by trustless collateral
- & can be used as a collateral asset?

LUSD is both a borrowable AND a collateral asset on @AaveAave across

- Ethereum
- @arbitrum 💙 , 🧡
- & @optimismFND 🔴

What are some use cases you ask?

👻 👇

[Liquity @LiquityProtocol]

GM, @MessariCrypto and New York 🍎

👋 Come meet us! @YuliyanDeFi and @SamExotic3 from Liquity are at Messari Mainnet 2023.

If you're in the area, don't hesitate to send them a DM! #MessariMainnet2023

[Liquity @LiquityProtocol]

The (updated) oracle conundrum for v2 🔮✨

In our quest to shape the blueprint for oracles and v2, last month we made public some of our extensive research into the oracle landscape. 🔮

The feedback we received from our vibrant community and the different oracle providers was not only enlightening, but very helpful in refining our understanding of oracles. This iterative learning process has been invaluable, and we hope to have the same collaborative spirit for all future topics related to v2!

Thus, we have taken the initiative to re-articulate our learnings, ensuring that the insights we have learnt can help contribute to the understanding of oracles within DeFi in general.

Before we dive in, a couple of reminders: this is internal research that we’re making public, rather than a definitive oracle rating system - and our vision for v2 is to build a protocol that is as immutable as can be. 

Here's a recap of our collective insights on the infographic, and an updated look at things:

Admin control / Controlling entity

No changes here - @WeAreTellor and @Uniswap are the only two we looked at that truly have no ‘admin’ control. Admin control in this instance refers to a controlling entity that has the ability to modify or upgrade that particular oracle.

👇

Compatibility with immutable dApps

After speaking with different oracle teams on the matter, we came to a conclusion that fully immutable oracles are the only ones which can be determined as 'green', while oracles that follow a proxy architecture are not the same. Why, you ask? ⬇️

Proxy oracle contracts introduce potential risks due to their upgrade capacity. Most proxy oracle architectures have the ability to completely replace the oracle logic, and could (for example) block specific protocols from accessing vital price feeds based on the identity of the requesting protocol or the type of data request. The mere presence of such control is a concern - hence the change of the color code of any oracles with a proxy architecture to yellow.

👇

Attack costs and “cost to controlling entity”

One great example of a learning from the iterative process taken with the different oracle providers was to split the crypto economic guarantees into two components: a) attack costs, and b) what the controlling entity has at stake. “Attack costs” refers to the economic cost of compromising the oracle’s security, e.g. a malicious actor gaining control over the price feed.

The “cost to controlling entity” column refers to what a governing entity “has to lose” by manipulating, censoring or suddenly deleting the oracle.

For the IC exchange rate canister specifically, we learned that it is now in fact heavily integrated into the core IC ecosystem, and that 'messing' with the oracle would pretty much undermine the ICP network as a whole. On top of that, it is also the only oracle we looked at that has a legitimate decentralized governance mechanism (voting-based).

Despite this, our research still points to the notion that there isn’t any one oracle which combines complete trustlessness with reasonably low latency.

👇

Latency

The only change here is that we learned that the IC exchange rate canister has a worst-case latency of ~1 minute due to historical data granularity - although there is potential for sub-second latency if their outcall functionality were extended to allow for medianization of the latest spot price.

We would also like to clarify our stance on the track record tab of the infographic - our track record criteria specifically refers to the track record of the oracle provider on Mainnet

In closing, this exploration was enriched by the proactive participation and feedback of our community and the various oracle teams. Collectively, these learnings help set the stage for our v2 journey, ensuring that it's founded on a collaborative spirit.

Join our Discord for further discussions on all things oracles and v2: https://t.co/MoQS1ZgSvj