Ariah Klages-Mundt

@aklamun

25 Following

12 Followers

Ariah Klages-Mundt pfp

Ariah Klages-Mundt

The concentrated liquidity LP trade in key very-high-volume markets can generate a lot of fees. Gyroscope's E-CLP is very good at democratizing this, and has been showing that it can outperform Uniswap and Aerodrome for passive LPs. A flywheel for scaling Gyro

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Ariah Klages-Mundt

Few know that @gyroscope is a revenue machine. From one small (600k) volatile pair E-CLP alone, Gyro is already generating over 500k USD annualized in protocol revenue. Imagine when these pools 10x, 100x, 1000x. Soon Most midcurve thing you can do is phase Gyro

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Gyroscope pfp

You can now earn Ethena sats, Gyro SPIN, and @balancer rewards at the same time! LPs in the following Gyro pools now earn 30x sats from Ethena: - sUSDe/GYD on Ethereum - sUSDe/GYD on Arbitrum

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Gyroscope pfp

Arbitrum GYD/USD price feed now live on @chroniclelabs https://chroniclelabs.org/dashboard/oracle/GYD/USD

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Gyroscope pfp

Catch Gyroscope co-founder @aklamun speaking at Devcon. Learn about the state-of-the-art in decentralized stablecoin liquidity and catch an early peak at the next liquidity innovation coming in Gyroscope.

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Ariah Klages-Mundt

I'll be speaking at @devcon about superliquid stablecoin mechanisms. Will be sharing: - what has/hasn’t worked in decentralized stables liquidity - innovations that can help them compete with USDT/USDC liquidity - A new liquidity engine in @gyroscope v2 that ups the game 👀

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Ariah Klages-Mundt

.@gyroscope's liquidity utilization rates are among the highest across DeFi today: - USDC/GYD utilization = 401% - USDC/USDT Uniswap = 57% - Curve 3-pool = 50% Further, the highest stablecoin volumes on Balancer today, other than Ethena, are settling via GYD 👀

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Ariah Klages-Mundt

rETH/wstETH (or also rETH/WETH) is a difficult pair for most pools to handle due to rETH's tendency to trade in a wide range above peg. This E-CLP gets a strictly better liquidity profile at the most important prices compared to competing pools.

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Ariah Klages-Mundt

This is plotting "liquidity density", which = how much of the pool's liquidity is offered at each price (measured in bp deviation from rate-adjusted peg, so after adjusting for accrued yield). This E-CLP was calibrated to be better than Stableswap with A=500. Historical trading prices for rETH/wstETH are plotted in the background (composed from rETH/WETH and wstETH/WETH history).

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Ariah Klages-Mundt pfp

Ariah Klages-Mundt

E-CLPs give better *liquidity profiles* for trading pairs. Here's how the liquidity profiles compare for this rETH/wstETH pair.

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Catch up on stablecoins with Gyroscope co-founder @aklamun on the WuBlockchain podcast. In a space of evolving stablecoin risks, Gyroscope's GYD and sGYD help keep users safe with risk auto-pilot. Watch until the end for a hint at what's coming next in Gyroscope. https://youtu.be/fZ0wpRrqW-0

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Paydar.base.eth

Gm Gyronauts! 🐸 I've just set up the /gyroscope channel as a cozy space for all Gyronauts to share their content and thoughts about @gyroscope. Can't wait to see what everyone brings to the table!

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Gyroscope pfp

SPIN now enters its final phase. At the latest, SPIN will end when the hard cap of 500m SPIN is met or TVL reaches 100m. The end will align with the governance token distribution. Governance LP vaults now earn new highest SPIN rate, with other changes for sGYD and pools.

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Gyroscope pfp

Gyroscope's yield-bearing stablecoin - sGYD - is live. sGYD adds native yield to the decentralized all-weather stablecoin GYD. 12-15% APR expected at launch. With mitigated risks thanks to GYD's risk control innovations. sGYD also ushers in the final phase of SPIN points.

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Ariah Klages-Mundt pfp

Ariah Klages-Mundt

GYD superliquidity showcased in today's volatility - GYD swap velocity at 500% of circulating supply - GYD pools doing up to 20x utilization while most major stablecoin pools at 2-3x - Smooth and stable, within 2bp of peg @gyroscope was built to weather storms like today

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Ariah Klages-Mundt pfp

Ariah Klages-Mundt

LPs and DeFi projects can both agree: Rehype yields are good. More native yield for LPs 🤝 lower cost of capital to incentivize liquidity If you're not Rehyping on Arbitrum already, you should really consider it.

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Gyroscope pfp

Gyroscope is now deployed on @base Starting with the flagship pool for sDAI on L2s launched with @sparkdotfi. Holders of USDC or sDAI on Base can now Triple Dip on Rehype E-CLP yield: - BAL incentives live - Swap yield from concentrated liquidity - Yield from Aave and sDAI

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Ariah Klages-Mundt

Lastly, how GYD design connects with these ideas. GYD is primarily traded through reasonably tight pools for GYD/{USDC, USDT, DAI} and a somewhat wider pool for GHO. This works well b/c GYD can be atomically minted and redeemed = price support outside of these pools.

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Ariah Klages-Mundt

DAI gives a good example of this slow bridge friction. DAI tends to trade at a discount to USDC on chains with slow bridges because bridging DAI back to Ethereum can take 7 days whereas bridging USDC is fast. Even though on Ethereum DAI is (normally) convertible with USDC.

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Ariah Klages-Mundt

A related complication that affects which type you fit in is when assets go across chains. Slow bridges add significant frictions and increase the need for deep liquidity on multiple chains vs being able to arbitrage with deep liquidity that exists on other chains.

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