Profile of _Max_plus in Optimism

Posts by _Max_plus

• [REVIEW] [GF: Phase 1 Proposal] Overnight.fi V2 by _Max_plus - No Role
  Posted on: Nov. 6, 2022, 11:59 a.m.
  Content: Thank you, Katie, for both votes! Afterwards, I will try to structure my feedback on the process. As with any process there are many ways to improve, but one thing I must stress: it has been way more transparent and predictable than anything we had experienced across many other chains so far
  Likes: 3 Replies: 0
  Likers: minimalgravitas, katie, lefterisjp
  No replies yet.
• [REVIEW] [GF: Phase 1 Proposal] Overnight.fi V2 by _Max_plus - No Role
  Posted on: Nov. 3, 2022, 2:28 p.m.
  Content: Thank you for the review and recommendation
  Likes: 1 Replies: 0
  Likers: opuser
  No replies yet.
• [REVIEW] [GF: Phase 1 Proposal] Overnight.fi V2 by _Max_plus - No Role
  Posted on: Nov. 2, 2022, 6:19 a.m.
  Content: @OPUser For the sake of record: The grant request is 300 K OP Co-incentives match - 300 K USD How will the OP tokens be distributed? 175 K for USD+ liquidity mining on Optimism (spread between Velodrome and Balancer). → This would grow USD+ liquidity on Optimism, but also increase liquidity for the protocols and pairs USD+ collateral is invested into ( 100 % is invested on the same chain). Additional stablecoin yield maximizers with low risk appetite will join Optimism chain 125 K for ETS liquidity mining on Optimism (via Velodrome) → This would grow ETS liquidity on Optimism, but also increase liquidity trading pairs underlying our ETS products, in particular, ETH/USDC and OP/USDC ( 100 % is invested on the same chain). Additional stablecoin yield maximizers with low risk appetite will join Optimism chain
  Likes: 1 Replies: 0
  Likers: opuser
  No replies yet.
• [REVIEW] [GF: Phase 1 Proposal] Overnight.fi V2 by _Max_plus - No Role
  Posted on: Nov. 2, 2022, 2:19 a.m.
  Content: @OPUser For the sake of record: The grant request is 300 K OP Co-incentives match - 300 K USD How will the OP tokens be distributed? 175 K for USD+ liquidity mining on Optimism (spread between Velodrome and Balancer). → This would grow USD+ liquidity on Optimism, but also increase liquidity for the protocols and pairs USD+ collateral is invested into ( 100 % is invested on the same chain). Additional stablecoin yield maximizers with low risk appetite will join Optimism chain 125 K for ETS liquidity mining on Optimism (via Velodrome) → This would grow ETS liquidity on Optimism, but also increase liquidity trading pairs underlying our ETS products, in particular, ETH/USDC and OP/USDC ( 100 % is invested on the same chain). Additional stablecoin yield maximizers with low risk appetite will join Optimism chain
  Likes: 1 Replies: 0
  Likers: OPUser
  No replies yet.
• [REVIEW] [GF: Phase 1 Proposal] Overnight.fi V2 by _Max_plus - No Role
  Posted on: Nov. 1, 2022, 8:34 p.m.
  Content: Against each other as well. There is certainly quite a bit of IL in that pair. It is correlated, but not closely enough.
  Likes: 1 Replies: 0
  Likers: gonna.eth
  No replies yet.
• [REVIEW] [GF: Phase 1 Proposal] Overnight.fi V2 by _Max_plus - No Role
  Posted on: Nov. 1, 2022, 8:08 p.m.
  Content: I think the committee has the power to integrate that in the decision. It would be horrible if we had to go to another voting cycle because of this modification Eth/OP is actually not a quasi-stable. It is a very volatile pair. Also OP’s liquidity (and consequently opportunity to hedge, cost of impermanent loss ) are not good, to put mildly. All this makes a delta-neutral product based on this pair uncompetitive. I honestly think some of the grants should be put forward to improve OP’s liquidity: how could aave have received the grant and not accept OP as collateral… Or Uni V 3 be incentivizing pools with ETH and not OP… This really escapes me. Once the prerequisites are in place we would love to do the ETSes based on OP pairs
  Likes: 1 Replies: 0
  Likers: gonna.eth
  No replies yet.
• [REVIEW] [GF: Phase 1 Proposal] Overnight.fi V2 by _Max_plus - No Role
  Posted on: Nov. 1, 2022, 7:19 p.m.
  Content: thank you for the question. we are just launching ETSes on OP and expect the # of users in the 100 s. The biggest constraints to growth so far, have been, actually, the performance of USD+ itself, which has outperformed ETS in yield (which is not normal and will change as OP ecosystem matures) and depth of liquidity for relevant attractive underlying pairs. we are solving both issues by launching today the ETS based on Uni V 3 (via Arrakis) - “Night over arrakis”. It is delta-neutral strategy aimed at providing liquidity to ETH/USDC 0 . 05 % pool with rewards by Arrakis/Uni/OP. It is quasi-stable strategy with target 15 - 20 % yield, which people are already queuing for. it is deep and long enough for the ETS to acquire 100 s of happy users. We have no doubt there will be major demand (enough to ask people in our discord). There is also a ‘waiting list’ of 40 + addresses. Next week, we will launch another Arrakis-based ETS for ETH/DAI liquidity provision. We can guarantee that everyone will have access to this product and rewards: we have established a stable pool on Velo: USD+/ETS that will ( 1 ) use the yield to self-bribe ( 2 ) will be the only channel used to distribute grant rewards. So everyone will be guaranteed access and it wont become an ínsider deal’. Responding to your questions more specifically: linking APY and # of users can be done, but incentives via pool on Velo would, imho, be more effective and natural way to balance supply and demand; Regarding metrics, we have put in the proposal ‘Second KPI - exceeding 2 M in TVL and 100 users for ETS products’. if we dont exceed 1 M TVL and 100 users within 2 months, we would be happy to stop the grant program and return the remaining part of the grant related to ETS. But i am certain that wont happen. Hope i have addressed your questions. if not, please let me know
  Likes: 0 Replies: 0
  No likes yet.
  No replies yet.
• [REVIEW] [GF: Phase 1 Proposal] Overnight.fi V2 by _Max_plus - No Role
  Posted on: Nov. 1, 2022, 4:34 p.m.
  Content: Against each other as well. There is certainly quite a bit of IL in that pair. It is correlated, but not closely enough.
  Likes: 1 Replies: 0
  Likers: Gonna.eth
  No replies yet.
• [REVIEW] [GF: Phase 1 Proposal] Overnight.fi V2 by _Max_plus - No Role
  Posted on: Nov. 1, 2022, 4:08 p.m.
  Content: I think the committee has the power to integrate that in the decision. It would be horrible if we had to go to another voting cycle because of this modification Eth/OP is actually not a quasi-stable. It is a very volatile pair. Also OP’s liquidity (and consequently opportunity to hedge, cost of impermanent loss ) are not good, to put mildly. All this makes a delta-neutral product based on this pair uncompetitive. I honestly think some of the grants should be put forward to improve OP’s liquidity: how could aave have received the grant and not accept OP as collateral… Or Uni V 3 be incentivizing pools with ETH and not OP… This really escapes me. Once the prerequisites are in place we would love to do the ETSes based on OP pairs
  Likes: 1 Replies: 0
  Likers: Gonna.eth
  No replies yet.
• [REVIEW] [GF: Phase 1 Proposal] Overnight.fi V2 by _Max_plus - No Role
  Posted on: Nov. 1, 2022, 3:19 p.m.
  Content: thank you for the question. we are just launching ETSes on OP and expect the # of users in the 100 s. The biggest constraints to growth so far, have been, actually, the performance of USD+ itself, which has outperformed ETS in yield (which is not normal and will change as OP ecosystem matures) and depth of liquidity for relevant attractive underlying pairs. we are solving both issues by launching today the ETS based on Uni V 3 (via Arrakis) - “Night over arrakis”. It is delta-neutral strategy aimed at providing liquidity to ETH/USDC 0 . 05 % pool with rewards by Arrakis/Uni/OP. It is quasi-stable strategy with target 15 - 20 % yield, which people are already queuing for. it is deep and long enough for the ETS to acquire 100 s of happy users. We have no doubt there will be major demand (enough to ask people in our discord). There is also a ‘waiting list’ of 40 + addresses. Next week, we will launch another Arrakis-based ETS for ETH/DAI liquidity provision. We can guarantee that everyone will have access to this product and rewards: we have established a stable pool on Velo: USD+/ETS that will ( 1 ) use the yield to self-bribe ( 2 ) will be the only channel used to distribute grant rewards. So everyone will be guaranteed access and it wont become an ínsider deal’. Responding to your questions more specifically: linking APY and # of users can be done, but incentives via pool on Velo would, imho, be more effective and natural way to balance supply and demand; Regarding metrics, we have put in the proposal ‘Second KPI - exceeding 2 M in TVL and 100 users for ETS products’. if we dont exceed 1 M TVL and 100 users within 2 months, we would be happy to stop the grant program and return the remaining part of the grant related to ETS. But i am certain that wont happen. Hope i have addressed your questions. if not, please let me know
  Likes: 0 Replies: 0
  No likes yet.
  No replies yet.