LSD series 4
Flash/Blockzero
Notes :
Protocol for upfront yield
think alchemix, but you don't take a loan - you get the yield upfront
can redeem principle if upfront yield is paid back
read for technical understanding:
https://twitter.com/DeFi_Made_Here/status/1659540032837787649
Comparison :
LPs only get yield if they stay the whole time
flash LPs are outside the protocol → only principle is shown in TVL
so TVL is rather low = 4.5 mio
Flash currently 6.3 mio MC / 22 mio FDV→ 4,5mio TVL
Pendle 52 mio MC / 126mio FDV →100mio TV
Pendle TVL growth was up-only these last months
ALCX 25 mio MC / 36 mio FDV → 64 mio TVL
V3 on the horizon, we will see how the protocol evolves
Good comparison of the tech:
https://twitter.com/Defi0xJeff/status/1645768492598312960
Tokenomics :
The protocol takes a 5% time fee on the principle
$Flash has to be used to pay that time-fee and are sent to the Flashstake treasury to reduce supply
Auctions from Flashlend are held in $Flash
around 5% inflation until 1.8.23 (around 30% p.a.)
nearly all emission are for the team and blockzero treasury, so sell pressure should be limited
after 1.8.23 only 2%p.a. inflation
XIO is the token of Blockzero→ the protocol behind flash.
they accelerate projects and get a part of their tokens
MC370k, FDV 1mio→ 3.5 mio treasury at $0.15 flash
They will release $XIO stacking and give their accelerators Tokens back to stakers with the Vortex upgrade
Updates :
Recently, FlashLend went live!
• You can now borrow against your time locked principle and loop your strategies
• I think this is a super powerful feature !
https://twitter.com/Flashstake/status/1668666878972051457
they have an uniswap proposal up to get a strategy of their own supported with ARB tokens from uni treasury
proposal aims to get uni on board and bring a flash strategy where you can get upfront yield on your LP positions
Thoughts:
• I like the @Flashstake as they are one of the few #LSDfi protocols that do something inovative.
• The field is rather competitiv
• $XIO seams like an interessting investment right now
• $Flash also might catch a bid if $BTC won't fall off a cliff
Twitter: https://twitter.com/Flashstake
Discord: https://discord.com/invite/flashstake/
DAPP: https://app.flashstake.io/stake
Docs: https://docs.flashstake.io/
Uni-gov-proposal: https://gov.uniswap.org/t/rfc-flashstake-enabling-upfront-yield-for-uniswap-liquidity-v2-v3/21410
Overview:
https://twitter.com/lou_markets/status/1665838886369783809
Technical details explained:
https://twitter.com/DeFi_Made_Here/status/1659540032837787649