Tokebase Dispatch: Edition 9 - March 31, 2023


State of the Reactor

State of the Reactor - March 10, 2023
In this State of the Reactor call, the team discussed the powerful utility of predictable rates for renting liquidity.

Key Takeaways:

  • Tokemak remains unexposed to Silicon Valley Bank, which recently experienced a bank run and has subsequently been taken over by the FDIC.
  • The team intends to refrain from placing excessive emphasis on marketing initiatives until the product's v2 is fully developed. They believe that the marketing budget will yield more significant results in attracting new users once the product encompasses a broader array of features.
  • Liquidity Management Pools will serve as a DAO-oriented product, enabling liquid staking derivative (LSD) protocols to lease liquidity at transparent rates. This functionality can be conceptualized as a "liquidity order book."
  • In contrast to Tokemak v1, which incorporated a health factor to safeguard both users and the protocol, v2 will possess the capability to scale without constraints.
  • A Twitter Space community call featuring Swell, a novel LSD provider specializing in Ethereum liquid staking and yield optimization, is scheduled for April.


Way of the Degen: Feel the Beat
As inflation and global events create volatility in traditional markets and crypto, investors may find opportunities by understanding rhythmic market cycles and staying tuned into key economic indicators.

In this topical write-up, GH0ST delves into the intricate connections between macroeconomics and crypto. This piece highlights how global events such as the pandemic, the war in Ukraine, and inflation concerns now impact the once seemingly independent crypto market. Read the full editorial to understand how the broader economy continues its dramatic shifts, and what motivates investors to re-evaluate risk tolerance and consider alternatives like Bitcoin to safeguard their portfolios.

Cycle Movements and Dev Updates

  • March 1: Cycle 253 -> 254 transition complete. Total rewards: $27,256.65.
  • March 8: Cycle 254 -> 255 transition complete. Total rewards: $24,564.95.
  • March 15: Cycle 255 -> 256 transition complete. Total rewards: $24,904.12.
  • March 22: Cycle 256 -> 257 transition complete. Total rewards: $29,148.84.
  • March 29: Cycle 257 -> 258 transition complete. Total rewards: $24,291.94.

The protocol executed an emissions update to optimize system incentives as the team approaches Tokemak GP.

Update Details:

  • Sushi LP: 18,750 TOKE
  • Token LD: 7,800 TOKE
  • Token LP: 1,950 TOKE
  • Pair LP: 10,112 TOKE
  • Savings per Cycle: 12.9k TOKE

Throughout March, front-end and back-end teams collaborated on the v2 user interface and contracts. They are currently developing a component library, a UI kit for v2, and associated contracts. The teams have also finalized pool definitions and are implementing pool management solutions for standard assets.

For strategy and communications, they have assembled information, prepared communication materials, drafted a v2 Gitbook, and enhanced security while making general improvements to Discord. Furthermore, they are working on tokenomics for Tokemak GP, a new marketing site, and a v2 whitepaper.

General Updates for All Pilots

On March 9, the team processed another treasury transfer for March payroll. Future payroll payments for the year will be drawn from the $3 million converted to fiat, as previously described in an official announcement.

March 2023 Expenses:

  • Total: $522,900
  • Strategy/Business Development: $82,310
  • Operations: $50,899
  • Developers and Designers: $210,300
  • Smart Contract Audits: $80,682
  • Professional Expenses (Legal and Taxes): $41,349
  • Marketing & Community: $35,298
  • Administrative and Other: $22,062

A variance of $25,069 was observed between actual expenses ($514,211) and projected expenses ($539,280).

Job Opening: Senior Solidity Software Engineer

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