News and Editorials
Crypto's Bakumatsu: How the U.S. Strong-Armed DeFi
GHOST08 wrote about the strategic path DeFi and crypto at large must tread despite its technological edge, while navigating the high seas that the powers-that-be have mapped for centuries.
The team presented an AMM analysis that breaks down the profitability of liquidity deployments on Uniswap v2, Balancer 80/20, and Curve v2.
- The team found that the ideal strategy is to optimize for low volatility periods and reduce risk during high volatility periods in order to minimize loss and maximize return.
- Gas prices will impact these results, but Curve is working on optimizations, and L2s will reduce the effects of gas fees.
- Additional DEXs will be considered if they offer a competitive advantage over existing options. Some integrations with other DEXs have already been built; however, they will not be used if they are unprofitable for the system.
The Tokemak team prepped Pilots for the launch of accTOKE with this State of the Reactor call.
- Reward Logic Changes: The new logic will basically balance out the most efficient allocation of votes as determined by the underlying performance of the Reactor and what the LDs might actually vote for.
- accTOKE Caps: The caps for accTOKE will be increased gradually by one million per Cycle. Cycle 241 kicked things off with the initial cap of one million locked TOKE.
- accTOKE Rewards: Rewards in WETH can be claimed in each Cycle – not only at the end of the scheduled lock Cycle. The team has also provided an option to unwrap the WETH while claiming.
- Security Audit: A security audit from Halborn showed no cause for concerns.
Cycle Movements and Dev Updates
Nov 2: Cycle 236 -> 237 rollover complete. Details on front-end, design updates, back-end, comms, and strategy activity were shared.
Nov 9: Cycle 237 -> 238 rollover complete. No design update. Front-end, back-end, comms, and strategy updates were provided.
Nov 11: The team reduced liquidity deployments by 30% due to current market volatility (only out of an abundance of caution) and the ongoing FTX situation.
Nov 16: Cycle 238 -> 239 rollover complete. Front-end, back-end, comms, and strategy updates were provided on accTOKE refinements, as well as Tokemak V2.
Nov 23: Cycle 239 -> 240 rollover complete. No major front-end updates. Back-end updates focused on reward claiming and LP migration contracts.
General Updates for All Pilots
Nov 11: Pilots were warned of scammers impersonating Tokemak on Twitter and hosting a fake copy of the Tokemak app that attempted to trick users into interacting with malicious contracts.