April 14, 2022: All 4Pool and Pools For All 🤽🏻‍♂️🏊

Updates on $LUNA, $FRAX, $BTRFLY $INV $KP3R $EPS $BEAN $MAI $LFT $JPEG $STG

crv.mktcap.eth

Apr 14, 2022

Nowadays a “quick recap” of all the activity around the Curve ecosystem is becoming a magnum opus in and of itself. Here’s some cursory updates on the action over the past week. If we missed your favorite protocol, drop it in the comments.

$LUNA

Terra has become the largest DAO holder of $CVX, buying and locking an additional 560K CVX.

zon @ItsAlwaysZonny

Terra is now the largest dao owner of $CVX

DefiMoon 🦇🔊 @DefiMoon

Looks like Terra 🔒 another 567k $CVX ahead of Votium round #16: etherscan.io/tx/0x633ddd86e… 79% of $CVX circulating supply locked!! 👀🤩 If @stablekwon wants to really make 4pool acquire most $CRV emissions, he will have to bribe independent veCRV holders at some point....

zon @ItsAlwaysZonny

this additional CVX power will allow Terra to allocate vlCVX votes to any projects looking to standup pairs with the 4pool You help the 4pool, the 4pool helps u

0xChaos @0xCha0s

#curvewars need weapons $cvx is the best weapon by far for the DeFi liquidity center It was only a matter of time before @terra_money used its strength, as it’s largest export is money $ust Future of the moon is bright $luna 🌖 https://t.co/3v0kkdyZxy

zon @ItsAlwaysZonny

Terra is now the largest dao owner of $CVX

The supply of Convex up for grabs is now incredibly scarce. There’s only 100MM CVX out there. If you drained the DEX/CEX supply, you could get maybe a 5-6% stake.

DefiMoon 🦇🔊 @DefiMoon

Fun Fact: Terra purchased their $CVX on Binance. You can actually see their withdrawal on Etherscan👀 CVX supply on Binance shrunk by ~20% today Less than 5.5m CVX available for sale on all DEX and CEX combined....⌛️ etherscan.io/tx/0xef1661759… $LUNA $UST #DeFi

DefiMoon 🦇🔊 @DefiMoon

Looks like Terra 🔒 another 567k $CVX ahead of Votium round #16: https://t.co/Tz66JSL3Aq 79% of $CVX circulating supply locked!! 👀🤩 If @stablekwon wants to really make 4pool acquire most $CRV emissions, he will have to bribe independent veCRV holders at some point.... https://t.co/VeA74fdyjB https://t.co/R08ssX7aHV

Although Terra currently sits in first in the Convex Wars, this lead will likely not last though. FRAX will rapidly farm their way back into first.

zon @ItsAlwaysZonny

It will be quickly beat by the 1.7B frax has farming but it’s a good thing we’re frens 4pool shaping up to be quite spicy indeed

Whether FRAX or Terra are in first, the real winner is their partnership in 4pool.

zon @ItsAlwaysZonny

this ain't the 4pool I was looking for chief

Whoops, wrong 4pool. The 4pool has already started deploying onto sidechains.

0xZeno.eth 🇺🇦 @0x_zeno

Who's excited to vote for the @CurveFinance 4Pool gauge? Curve Ownership DAO Vote ID: 163 Add a gauge for the following pool: 4Pool FRAX-UST-USDC-USDT on Arbitrum Head over to vote.convexfinance.com and place your vote. Quorum: 8.31m CVX End Date: 16th Apr 2022 01:40

vote.convexfinance.comSnapshot

Alex Simpson 🌖 @AlexSimpson_96

The new 4pool is a game changer for stability of $UST peg. In xyk pools, a trade of $200k can depeg UST to $0.98. In 4pool, the same trade has a 300,000 times smaller effect, moving UST off peg by $0.00000006. 🧵/25 on mathematical design of 4pool and how this impacts UST peg:

Alchemix @AlchemixFi

We like the 4pool 👀

Terra continues to project strength, yet will forever be bedeviled by concerns about their business model.

YettyWapp 🦇🔊 @YettyWapp

Just an observation, the Anchor $UST reserves were refilled around Feb/March with 450,000,000 UST and is down to $305,000,000 already Around 30% of the refilled reserves were depleted in a ~1 month already. At the current rate, the reserves be fully depleted in ~2 months.

$FRAX

The decentralized driver behind 4pool is FRAX. Founder Sam Kazemian is getting a well deserved turn in the limelight. A pair of must-listen interviews by Bankless and AladdinDAO provided Kazemian the opportunity to expound in great detail on the various FRAX products.

DeFiDegen.ETH ⚔️🏴 2.6 Billy (¤, veFXS) @DegenFi

Just listened to the 1.5H interview of @samkazemian by @RyanSAdams and @TrustlessState on all things @fraxfinance. Like the $UST interview last week, this was another well-balanced & illuminating insight in the algo stablecoin space. Please find my intern notes below

Bankless 🏴 @BanklessHQ

🚨PREMEIRE🚨 @fraxfinance and the 4pool @CurveFinance Takeover! @samkazemian speed-runs us through the history of central banking! 👨‍🏫 and places FRAX in the story We pick his brain on the new Curve 4pool and the Stablecoin Wars -11am PST -2pm EST 📺👀 https://t.co/SlYgElwNif https://t.co/HeewiAhYqJ

AladdinDAO (🧠, 🧠) @aladdindao

Ask anyone who plays the best in Curve Wars. We bet you won't hear anything other than @fraxfinance The king is arriving upon us👑 @samkazemian @davesaidthat_ @DeFi_Dad @martinkrung @abearrug https://t.co/v4kSZzgnYx

It would be difficult to imagine a better macro context into which one could launch an inflation-resistant stablecoin. Soaring inflation rates would mean a stablecoin that kept pace with inflation would be yielding returns more like stocks than bonds.

Grills (¤,¤) ┻┳ 🦋 @CryptoGrills

Inflation is soaring, couldn't be a better timing for $FPI and $FPIS. If you're farming stablecoins anywhere where the yield is under 8,5% you are actually LOSING money. $FPI fixes this. Don't even need to stake or anything. Few... @fraxfinance $FRAX $FXS #CPI

Unsurprisingly, traders cannot get enough of the $FPIS/$FXS, the governance tokens underlying these stablecoins.

kamikaz ΞTH @kamikaz_ETH

1/ THREAD: 🆕 $FPIS kills inflation with Stablecoin 2.0🆕 Frax has launched FPI, a next-gen stablecoin immune to inflation that will disrupt crypto. $FPIS is the high-growth play in the Frax ecosystem, and a 60/40 FXS/FPIS allocation is optimal for conservative holders. 👇🧵

McKenna (¤, ¤) @Crypto_McKenna

$FXS is seriously my hardest hold. I've bet with conviction at $17 and the swings are just fucking insane. Teaching me a lesson with concentrated fundamentals bets stop watching the PnL.

$BTRFLY

Another key member of the 4pool coalition is Redacted Cartel. The Cartel is accumulating the assets needed to compete in all protocol wars.

Ethersole @ethersole

Holding $BTRFLY got me feeling like an arms dealer. Doesn’t matter if it’s… - $CRV wars. - $FRAX wars. - $TOKE wars. The Cartel™️ stays making money. 🦋

This past week they launched Hidden Hand, extending their influence through Ribbon, FRAX, and Balancer.

██████ @redactedcartel

rollout of v2 starts today 🦋 hidden hand is now live on mainnet for the following partners @ribbonfinance @fraxfinance @BalancerLabs over the coming week, keep an eye out as bribes and new markets begin to roll in hiddenhand.finance

TΞtranodΞ (💎, 💎) @Tetranode

hiddenhand.finance/frax Temple's $50k bribe got them $400k in emissions, a payout factor of 8x... @fraxfinance will have a very large market thanks to @redactedcartel's hidden hands

0xChaos @0xCha0s

#fraxwars has started and early bidders getting 8:1 ROI on $ emissions per bribe via @redactedcartel Hidden Hand @ConvexFinance is 25% holder of $veFXS, will be majority holder once LP boost solution live. $cvx vote locked earning bribes from both $crv $fxs economies? Yes 🧠 https://t.co/AqOCCaIvkT

TΞtranodΞ (💎, 💎) @Tetranode

https://t.co/KjYvyYpTke Temple's $50k bribe got them $400k in emissions, a payout factor of 8x... @fraxfinance will have a very large market thanks to @redactedcartel's hidden hands https://t.co/n04elXjU5j

The Redacted Cartel governance token, $BTRFLY, has one of the hottest Curve pools. The past 24 hours saw 11% base APY with nearly 29% boosted rewards.

$INV

Also joining the Curve Wars this past week is Inverse Finance.

Inverse+ @InverseFinance

Shots Officially Fired In the Curve Wars bit.ly/3JBnPb6 LGTM

Inverse+ @InverseFinance

The Curve Wars have started! The Treasury Team has provided $53k worth of INV bribes to CRV Voters. This will cause a significant increased DOLA-3Pool APY on Convex and Yearn. bribe.crv.finance 1 day of voting remains, This is only the beginning

nour+ @NourHaridy

https://t.co/FOPzxrVOi8

This is going to make a big splash for their $DOLA pool

CryptoBern+ (👾,👾) @CryptoBern

Welcome to the curve wars $dola $inv $crv @InverseFinance

$KP3R

Andre Cronje lives, focused solely on building out his Fixed Forex product. Several of these pools are up for gauge votes at the moment.

SeaSaltyFunk @SeaSaltyFunk

On the way to $90m now #FixedForex Should be good for vKP3R holders

SeaSaltyFunk @SeaSaltyFunk

ibCHF pool, recipient of DAO owned CVX vote & as a result offering boosted CRV rewards of 20%+ has attracted $76.6m in liquidity #KP3R https://t.co/UfJyFuTzGb https://t.co/3gj8ILPHHv

SeaSaltyFunk @SeaSaltyFunk

ibCHF pool, recipient of DAO owned CVX vote & as a result offering boosted CRV rewards of 20%+ has attracted $76.6m in liquidity #KP3R

SeaSaltyFunk @SeaSaltyFunk

@NiceCream12345 @0xSato ibCHF pool will have high amount of CRV rewards > that creates incentive for users to enter LP pool to accumulate/farm CRV > creates demand for ibCHF > demand generated fees > fees paid to KP3R holders that vest their tokens (vKP3R) on https://t.co/M3GC2447zV

$EPS

On BSC, the Ellipsis migration to v2 continues, as they push towards the veTokenomics and hope to spark an Ellipsis War of their own.

Ellipsis @Ellipsisfi

1/ The liquidity wars are coming to the BNB Chain. Introducing the latest version of Ellipsis to date, V2.0 features various updates to bring Ellipsis more in line with Curve's veToken mechanics. A deep dive into Ellipsis and its upgrade to V2.0🧵

$BEAN

Bean hits the Curve homepage.

publius @isthispublius

$BEAN is the newest addition to the @CurveFinance homepage.

The relatively new site is in print season at the moment, definitely worth more research.

bIc 🌱💵 @bIc_bean

gm CT $BEAN deposits yielding 134% vAPY and the ETH and 3CRV pools yielding 179% vAPY. These numbers will go up more as we enter this growth cycle in earnest. Mints are popping off. These stablecoin returns are fruitful. You’re still early

$MAI

The QiDAO team, subject of a great Crypto Risk assessment, recently pushed their way through governance.

DeoBrands | 🦇🔊 @amadeobrands

@QiDaoProtocol is applying for a gauge! We did a risk analysis and I met the team in person @EthereumDenver cryptorisks.substack.com/p/asset-risk-a… @CurveFinance #veCRV @ConvexFinance Vote now not much time left. dao.curve.fi/vote/ownership…

This amounted to split decision on governance for the team. One attempt missed quorum, while the other passed.

$LFT

Lendflare’s governance vote passed.

Crypto Puppy - I am not DMing @Crypto_Puppy_

It's official!!!! 👀 $LFT will be on $CRV 🚀🚀🚀 With a total of 8.4mil $CVX as YES 👍🏻 and 8.4k $CVX as NO 👎🏻 99.9% approval Next step, $FXS I know #BTC is scaring you, but I'm not wasting a low cap with 100x potential!

We’ve discussed the project a bit, if you’re searching for more here is another thread on their mechanics.

M @imnh99

A new breakthrough product, trending baseplate with an open economy, used together with @compoundfinance, @CurveFinance, @ConvexFinance. Bearing many similarities with @MIM_Spell and @AlchemixFi. Cool? Take a look at the ever first LP lend/borrow @LendFlareOffic a Thread 🧵

$JPEG

Also passing governance is the JPEG pool. JPEG self-describes as a good project built by a strong team, while offering insights into their roadmap.

JPEG'd @JPEGd_69

A good project and strong team in a predictable and transparent roadmap, planned and projected. I think in the near future we will see an unprecedented growth of this project.

The new Curve pool is a good addition to the ecosystem, which is already popular among yield farmers.

DeFi Surfer | (💎,💎) @808_Investor

Some thoughts on liquidity mining (aka farming) and why I've been adding to the @JPEGd_69 $JPEG / $ETH Pool 2. #weenis $jpeg

$STG

By trading volume, the Stargate pool has been a top performer even absent a rewards gauge. As one of the few pools denominated against the dollar, we suspect this added a bit extra for the fees. Most tokens are paired with ETH, and we see somewhat less volatility as the crypto markets pump and nuke together. Hence we hypothesize $STG stakers benefited from both $STG/$ETH fluctuations, as well as $ETH/$USD action.

At any rate, there was some debate about its recent gauge.