Prometheus Pool

[Prometheus Pool @PrometheusPool]

Wondering how you can make #Cardano better? Staying engaged and voting with your delegation is a huge first step!

[Aggelos Kiayias @sol3gga]

1/ This blog post gives some guidelines
regarding engaging with the rewards sharing
scheme used in Cardano. The objective is to help interested
people participate in the mechanism more
constructively for the betterment of the
ecosystem.
https://t.co/vqyy7Vmg4H

[Prometheus Pool @PrometheusPool]

@VitalikButerin If LP's are willing to accept significantly less capital efficiency as described here, do you even need to use options? If you instead enforce lower leverage then you can still use slow oracles and not pass the friction onto the holders, but keep it with the more engaged LP's

[Prometheus Pool @PrometheusPool]

@Plutus_Plumbus @KylixAfonso Importantly, this happens if either stable depegs to 95, if the chances of a depeg are roughly equal, you've doubled the chances of this happening

[Prometheus Pool @PrometheusPool]

@Plutus_Plumbus @KylixAfonso If you hold both stables and one depegs to 95, your portfolio is 97.5%.

If you LP those stables instead, you portfolio will be less than 97.5% because you now own more of the depegged stables than before, exactly how much less depends on the stableswap formula used

[Prometheus Pool @PrometheusPool]

@Plutus_Plumbus @KylixAfonso If a stablecoin you are LP'ing depegs, both that stablecoin and its pair are exposed to all of the downside risk. People will buy all the pegged stables you paired it with, so you'll end up with only the depegged stable.

[Prometheus Pool @PrometheusPool]

@Plutus_Plumbus @KylixAfonso If you were holding them instead of LP'ing that would be true. As an LP you have agreed to buy the depreciating asset, so if either stablecoin depegs the market will sell you their depegged stables for your pegged stables. You have taken on the depeg risk of both stables as an LP

[Prometheus Pool @PrometheusPool]

@Plutus_Plumbus @wolf__nomadic Sure it can, CPAMM's are copying orderbooks in the first place. Composing 2-way orders enables it

Grid strategies reward that liquidity, these strategies are built to earn profit from sideways markets, just like CPAMM is but without requiring an explicit fee.

[Prometheus Pool @PrometheusPool]

@Plutus_Plumbus @wolf__nomadic CPAMM is just mimicking a geometric grid strategy, modified to run efficiently in a global state system like ethereum, it can be replicated on an orderbook.

Orderbooks need to offer that simplicity, the ability to deploy a CPAMM/CLAMM strategy on an orderbook with one click

[Prometheus Pool @PrometheusPool]

If there is one thing we should have learned from catalyst, it's that decentralized funding doesn't work very well. We need a cohesive vision, and IO is the only one who can bring that to the table at the moment

[Charles Hoskinson @IOHK_Charles]

Happy Voting https://t.co/cjGTJuqbKk

[Prometheus Pool @PrometheusPool]

@mattpiz @phil_uplc @KylixAfonso It's possible the complexity is too high, but I think the capital efficiency may be worth it.

And cool, I think a multi-stable pool on Cardano would be a big hit, hope you get a chance to build this idea 😁

[Prometheus Pool @PrometheusPool]

@mattpiz @phil_uplc @KylixAfonso Read through the proposal, that's actually tragic, but not a surprising outcome with catalyst 🥲

Given your experience thinking about this sort of problem I'm curious if you have any thoughts about this discussion and an AMM like interface into orderbooks https://t.co/tdjJpXzDxB

[Prometheus Pool @PrometheusPool]

@__fallen_icarus I agree, and I think it's key to building bigger markets where one side isn't just gambling/speculating. I think the the focus on LP's here is from the perspective that for most defi protocols, LP's are the bootstrapping problem, you need to lure them in or you have nothing

[Prometheus Pool @PrometheusPool]

@pogun_io I would have said building the narrative/UX that gets BTC holders to actually give the product a chance, and being ready for the demand if they do give it a chance and it clicks

[Prometheus Pool @PrometheusPool]

@KpunToN00b @Cerkoryn @flubdubster @earncoinpool @rabbitholepools @Star_Forge_Pool @BBHMM_Stake @OystrPool @adamKDean @BalanceData22 It's a great metric and I think it has been well named in this paper

https://t.co/SUPtAYx2Ft

[Prometheus Pool @PrometheusPool]

@MicheleHarmonic @InputEndorsers AMM's are just forced adaptations of orderbook grid strategies due to the limitations of the substrate (ethereum/account based). The success though was the interface, we can build better underlying systems (order book over bonding curve) but keep the AMM interface that worked

[Charles Hoskinson @IOHK_Charles]

Should we host a Cardano Memecoin leadership summit at the IOG office?

[fallen-icarus @__fallen_icarus]

This absolutely must get funded! Without it, the DeFi Kernel’s credit market won’t launch!

#Cardano #DeFi

[Pogun @pogun_io]

1/5 Pogun’s treasury proposal is now live on the Cardano governance ballot!

We're requesting $2.95M (₳12.29M) to build the definitive home of Bitcoin DeFi on Cardano: a credit market, a yield platform, and a Bitcoin bridge delivered by the end of 2026.

https://t.co/snXrkqLC1g

[Prometheus Pool @PrometheusPool]

@__fallen_icarus @Cerkoryn @ESCOweb3 @MinswapDEX @DanoFinance We can also build virtual AMM's on top of the kernel using two-way swaps since AMM's are just geometric grid strategies modified to work on global state chains like ethereum. Virtual AMM's would get user defined concentrated liquidity for free since it is an orderbook underneath

[Zach Rynes | CLG @ChainLinkGod]

Look guys, it's actually really straightforward, a bunch of people staked their ETH on the Ethereum blockchain to earn yield, except they didn't want their capital to be locked up, so they actually staked with a liquid staking protocol called Lido who provided them a liquid staking receipt token called stETH, except they decided to juice their yield further by depositing their stETH receipt tokens into a restaking protocol called Eigenlayer, except they didn't want to lock up their capital, so they actually restaked with a liquid restaking protocol called KelpDAO who provided them with a liquid restaking receipt token called rsETH, except they decided to juice their yield further by depositing their rsETH tokens into a lending protocol called Aave so that they could open a leveraged looping position that borrows ETH against the rsETH collateral and restakes the ETH into rsETH which is then deposited as collateral, except it turns out rsETH used a cross-chain bridge called LayerZero that was hacked by north koreans causing rsETH to become undercollateralized and now these looping positions are stuck and unprofitable, and everyone is pointing fingers at each other, and also DeFi is a very serious industry