TradFi feels so quaint with its “nights” and “weekends.” Even bankers working north of 100 hours a week could never compete with 168 hours of pure unfiltered deg-energy.
Here’s what Curve was up to while most of the world couldn’t deposit a check.
The activity in TriCrypto pools are particularly great omen for the rumored Curve v2 pool factory. If they serve as any indication, the Curve v2 volatile asset pools will function as whirlpools of activity. An additional $10MM in activity came from Polygon’s atricrypto pool, a notably strong showing for a sidechain. Even the TriCrypto v2 on Ethereum that’s not even earning rewards yet saw $5MM in activity. This ginned up a healthy 3.39% APY for users treading water while waiting for rewards to kick in.
TradFi has a direct pipeline to a money printing press on overdrive, yet they can only divert a measly 50 basis points manages into your bank account?
Meanwhile Curve’s algorithm is so good that it organically is generating over 7x this return just because users are drawn to its sexy math. Which one GMI?
Curve is only getting better too. Over the weekend an entertaining discussion emerged surrounding a new formula
Arthur B. 🌮 @ArthurBFound a neat curve for cfmms. Flatter than @CurveFinance's curve and super easy to work with integer arithmetic. https://t.co/IX1UGrMgau
Curve has a knack for converting advanced math into money, let’s see if beautiful new curves are forthcoming. We know at least some improvements to traditional transactions are already being architected.
Andre Cronje @AndreCronjeTechPublished a new SIP, signaling for support; this change will allow AMMs to support Synthetix swaps, this would allow for atomic, liquid, 0 slippage, real time trades. https://t.co/toHb4aorjZ https://t.co/vfTY4CHNzg
Unfortunately, one group of lizard people was also hard at work over the weekend.
Jerry Brito @jerrybrito1/ We didn't get the language we wanted in the final bill text. It's better than where it started, but still not good enough to clearly exclude miners and similarly situated persons. Here's how it started and the final with the changes we were able to get. https://t.co/Y0LSUf7UEY
In trying to track down the people responsible for these language changes, the DC process is far more shadowy than the transparency and accountability of DAO-based governance. One would assume if these legislators are in fact proud of these inserts they authored, they should be bragging about it in public.
Coindesk identifies Rob Portman as “the lawmaker who may have drafted the language.” This is unfortunate, because Portman is retiring, so he has no political accountability anymore.
Kudos to Senator Ron Wyden for pointing out the necessity for smart legislation while decrying the odious backroom affairs.
The community is building PACMAN to combine DAO transparency and crypto wealth and fix this broken system. Would it be a good use of our community’s time and money to arrange some nice gifts for Wyden?
We’re still gauging whether it’s better use of our time to reward good behavior or push back against harmful behavior. For instance, read this short thread on how Senator Warren is shivving her constituency and you may shed a tear.
If you have thoughts on how PACMAN should best operate, it’s a fully open discussion and protocol in development. Come join and share your thoughts.
For more info, check our live market data at https://curvemarketcap.com/ or our subscribe to our daily newsletter at https://curve.substack.com/. Nothing in our newsletter can be construed as financial advice, or even coding advice. Author is a $CRV maximalist and has small bags of TriCrypto2, SETH, and USDP.