Hover Labs

Creator of decentralized products, infrastructure and services.

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[Bittrex Global @BittrexGlobal]

The $KUSD wallet is now open and trading will begin shortly at https://t.co/WGrJdX2wvm

$tzBTC, $SIRS and $YOU markets are open. Start trading our latest @tezos tokens now!

@HoverEng

[Kolibri @KolibriDAO]

Over the past few months, the Kolibri #DAO purchased 82,494 $XTZ. It matched the amount with $kUSD and added it to the XTZ/kUSD @QuipuSwap liquidity pool

Total LP: 30,013
Stability Fund: 589,049 kUSD
Dev Fund: 52,082 kUSD
Total Value Controlled: 760,057 kUSD, 82268 $XTZ

#Tezos

[Hover Labs @HoverEng]

kUSD is now part of a stable swap pair on Tezos!

We've written KIP-022, which proposes incentivizing LPs with kDAO tokens:
https://t.co/wf1bXHjdVQ

[Hover Labs @HoverEng]

As promised, we've published a post mortem of the economic exploit leveraged against the Kolibri Protocol's Liquidity Pool last week.

This is the first in several articles diving into the specifics of the incident and can be found here:

https://t.co/SnPwrQBqyj

[Hover Labs @HoverEng]

Now that funds are not at risk, we'll publish a full post mortem shortly and continue to work with the community for next steps to restore functionality or migrate the liquidity pool.

We'll post that here when it is complete.

[Hover Labs @HoverEng]

Earlier today Hover Labs executed Kolibri DAO proposal 12, which disables the Liquidity Pool's ability to liquidate ovens and patches the economic exploit.

To the best of our knowledge, funds in the Liquidity Pool are safe. The QLkUSD farm will continue to emit kDAO.

[Hover Labs @HoverEng]

Earlier today Hover Labs executed Kolibri DAO proposal 12, which disables the Liquidity Pool's ability to liquidate ovens and patches the economic exploit.

To the best of our knowledge, funds in the Liquidity Pool are safe. The QLkUSD farm will continue to emit kDAO.

[Kolibri @KolibriDAO]

Great news!

💵💵The liquidator that received the proceeds from the #Kolibri Liquidity Pool has returned the funds to individual wallets. 💵💵

🧢A tip of our caps and a big thank you to them for doing this when they didn't have to.

#DeFi #Kolibri

[Kolibri @KolibriDAO]

👀 Buy a #NFT with $kUSD? 👀

[Kolibri @KolibriDAO]

We’re aware of a sophisticated arbitrage/economic exploit involving the Kolibri Liquidity Pool.

This has ONLY affected providers for the Kolibri Liquidation Pool. The #Kolibri protocol continues to function normally.

More information here: https://t.co/eRfFNB98SU

[Hover Labs @HoverEng]

The #Kolibri Community has put forth KIP-016, a proposal to set the interest rate for the Kolibri Savings Rate for 10.75%. The proposal is under vote for the next 3.5 days.

kDAO holders can vote at https://t.co/7MOY2AClfz!

#Tezos #Defi

[Hover Labs @HoverEng]

If you want more information there's a few places to go to:
- KIP https://t.co/6LjCVEr7DO
- Docs https://t.co/lA0QYyCwM1

We also have things deployed onto the Granada testnet if you want to go play with things and check them out! https://t.co/FXphIVkEj9

[Hover Labs @HoverEng]

We've been hard at work recently, testing and iterating on the Kolibri Savings Rate (KSR), which will be a new and powerful lever to help the @KolibriDAO control the price of $kUSD.

We've just submitted a proposal to the DAO to adopt this new component! https://t.co/f00Piuog26

[Hover Labs @HoverEng]

The metric that we're calling "peg depth" is how much $kUSD would need to be traded for (bought or sold) to deviate $kUSD's price by 1%.

We were unable to find a proper term for this idea, but if it already exists (or similar measurement of liquidity depth) please let us know!

[Hover Labs @HoverEng]

We've just updated the #Kolibri webapp with a new stat and metric for $kUSD.

Understanding how close $kUSD is to being perfectly stable (backed $1 = 1 kUSD) is really important for people who want to use it as a stable store of value!

[Hover Labs @HoverEng]

When thinking through how to visually represent the health of an algo stablecoin like $kUSD, there was a desire to not just show peg stability as it fluctuates around $1, but also a "peg depth" that gave an indication of how liquid a stable-coin is on a particular market.

[Hover Labs @HoverEng]

Wen lunch!?

[r&d @ mad.fish @madfishofficial]

QuipuSwap Stable DEX code is now open-source.
https://t.co/jP89Vjl6mT

Stable DEX is the upcoming QuipuSwap feature for price-efficient and low-risk stablecoin trading. It brings the @CurveFinance functionality to the Tezos ecosystem.

#xtz #tezos #quipuswap #stablecoin #dex

[Hover Labs @HoverEng]

As always, if you have thoughts or questions about this (or any) proposals, feel free to stop by the Kolibri Discord https://t.co/SDQA0H7zTA or visit the #Kolibri Forum https://t.co/LapRVA59lP!

[Hover Labs @HoverEng]

We've just submitted KIP-014 to the @KolibriDAO, which raises the stability fee +2% to 21.5%!

This change is super important to ensure that $kUSD remains a stable store of value, and should help compensate for the divergence of @QuipuSwap's $kUSD / $XTZ and Harbinger's price.

[Crypto Coin News @TodayCrypto]

Tezos connoisseur Lukas Zuegg speaks with “shadowy super coders” Ryan Sears and Keefer Taylor about their project, Kolibri Finance.

#DeFi @KolibriDAO @KeeferTaylor @hovereng @tezos

https://t.co/QKpz0hbm0R

[Kolibri @KolibriDAO]

🚨 🚨 PROPOSAL ALERT🚨 🚨
💪Kolibri community, assemble!💪

The 8th proposal has been submitted to the #DAO! This proposal increases the debt ceiling to 12m kUSD 📈
Check out the proposal and cast your vote at https://t.co/y9DiuX6TUW

Get involved at https://t.co/vz9qpFE0cM