Tokebase Dispatch: Edition 11 - May 31, 2023

tratium & Kadesh

State of the Reactor: Autopilot Presentation - May 12, 2023

State of the Reactor: Autopilot Presentation - May 12, 2023
This State of the Reactor call provided updates on v2 and an in-depth review of the upcoming Autopilot product, including a presentation by Parker from the research and analytics team.

Key Takeaways:

  • Significant progress has been made on the marketing campaign strategy, and the beta landing page was released. Following the refresh of the Discord channel, an NFT will be launched to commemorate this occasion.
  • Further details were shared about the Autopilot feature, which serves as the main user-facing product. Initially, the feature will concentrate on ETH liquid staking tokens (LSTs), allowing users to stake ETH while Tokemak optimizes yield, reduces gas fees, and simplifies complex processes.
  • Parker from the research and analytics team provided a comprehensive presentation, outlining crucial findings that will shape the functioning of Tokemak’s Autopilot feature.
  • Autopilot aims to simplify the decision-making process, creating a seamless user experience while helping the protocol generate liquidity for the broader DeFi ecosystem.

The Hitchhiker's Guide to the Principles and Models of Web3 Decentralization

The Hitchhiker’s Guide to the Principles and Models of Web3 Decentralization
Ouija takes a panoramic view on common principles and models of decentralization in web3 systems, including a basic framework, building blocks, and further design considerations.

Ouija’s new piece highlighted the potential of decentralization to transform our interactions with digital technologies, disrupting industries like finance and art. The “hitchhiker’s guide” to web3 decentralization provided more clarity on the regulatory frameworks that need to adapt to the unique challenges brought about by decentralized technologies.

The Next Yield Paradigm: LST Liquidity and LPing

The Next Yield Paradigm: LST Liquidity and LPing
In this community call, the Maverick, Swell, and Tokemak teams discuss the future of Liquid Staking Tokens and the advent of “LST-Finance,” including how it will change the DeFi landscape with more sustainable incentive structures.

Key Takeaways:

  • Swell, an emerging player in the liquid staking protocol space, is the first to integrate Chainlink’s Proof-of-Reserve, validating the exchange rate of each swETH with verifiable proof of the total value of ETH staked on the consensus layer.
  • Maverick diversified the DEX design space by launching its innovative AMM in early March. By building upon advancements from simple Uniswap v2 pools, range-bound v3 mechanics, and stableswap solutions like Curve, Maverick offers a solution to potential challenges for existing AMMs. Maverick's "Boosted Positions" allow protocols to incentivize specific distributions of liquidity, thereby enhancing liquidity within certain price ranges.
  • Tokemak is a meta-protocol acting as a liquidity layer for tokens like LSTs and DEXes. It operates on top of Maverick and Swell, managing liquidity dynamics. With Tokemak v2, LPs and DAOs can achieve predictable control over their liquidity through Autopilot and Liquidity Management Pools (LMPs) in the Liquidity Marketplace.
  • LSTs are anticipated to replace ETH as the primary base pair asset in DeFi, merging DeFi and LSTFi. This transition is likely to establish LSTs as the industry's standard unit of account.

Cycle Movements and Dev Updates:

  • May 3: Cycle 262 to 263 rollover completed. Total rewards: $17,904.47.
  • May 10: Cycle 263 to 264 rollover completed. Total rewards: $17,195.93.
  • May 17: Cycle 264 to 265 rollover completed. Total rewards: $16,878.36.
  • May 24: Cycle 265 to 266 rollover completed. Total rewards: $16,138.24.

In May, the team prioritized front-end activity for v2 UI development, building the marketing site with new animations and layout changes. Back-end activity included v2 contract plumbing, deployment scripting, and beginning audits for various segments of v2 smart contracts with Halborn as the primary auditing firm.

The team also published an official Medium article introducing Tokemak v2, the LMPs, Autopilot, and the DAO Liquidity Marketplace. The Tokemak x Zealy campaign, launched this month, has boosted awareness for Tokemak v2.

General Updates for All Pilots:

  • May 17: An official Medium article was published to introduce Tokemak v2, LMPs, Autopilot, and the DAO Liquidity Marketplace.
  • May 19: A beta version of the new landing webpage for v2 was announced on Discord. The full v2 dApp is still under development.
  • May 23: An article on the Tokemak x Zealy Campaign involving future quests was shared with all Tokemak Pilots. The top 40 Pilots and a lucky raffle winner will share the 4500 TOKE prize pool.
  • May 25: The Tokemak x Zealy sprint was launched, featuring several easy quests to get started. Connect here to begin.
  • May 26: The dev team confirmed that the first pieces of the v2 contracts would be sent to Halborn on May 29. Other segments will be submitted as they are completed. The public Asana board has been updated accordingly.
  • May 30: A job opening for a Senior Full-Stack Blockchain Engineer was announced.
  • May 31: The team hosted a Twitter Spaces event featuring @swellnetworkio and @mavprotocol on the topic of LSTFi and Tokemak’s role as a liquidity marketplace. Read the Tokebase recap.
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