https://xitter.cf/t.co/SAqn6paXG4 / https://xitter.cf/t.co/tMrGvxGOfA | Coming SOON
Safe Leverage Land
Joined June 2024
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DCL will be the protocol native token.
Multi-chain. Trustless. Deflationary.
LPs will have 2 options when withdrawing their DCL rewards:
1) Just withdraw them to their wallet
2) Wrap them in an NFT.
If the LP decides to wrap them in an NFT, they will always have the option to burn the NFT and recover their DCL.
This NFT art collection will only be mintable by providing liquidity to Decayless. This is a completely fresh mechanic.
Currently testing different ideas for the RobinHood collection. Help us decide. Here are 4 different styles for a collection called The Headrooms.
discord.com/channels/8666643…
Our oracle may not be the most glamourous part of the protocol but we put the utmost thought on it.
First, it is built on top of uniswap v3 TWAP. The most reliable and trustless oracle since their contracts have traded trillion of USD and live onchain (100% liveliness).
Against the theoretical multi-block price manipulations attacks we employ a 30 min TWAP + a price truncation defense to protect against abnormal sudden price increments on the TWAP only possible by extreme instant price changes.
Because Decayless allows trustless deployment of leveraged tokens, the oracle switches automatically to the most liquid pool, without any offchain keeper.
Because TWAPs are by design price-lagging, to avoid someone exploiting big divergences between the current price and the TWAP we always take the worst of the 2.
We will change our name for the v2 launch of our protocol. We have a few candidates.
We like how Exlex rolls out of the tongue but it means "outside the law" and it may not be the best message if we launch on RobinHood.
Decayless conveys our value proposition: leveraged tokens that do not decay in value.
Unfaded. Same idea than Decayless but it's shorter and sounds perhaps a bit better
Leveraged stocks without decay is the future
I was just listening this morning to a podcast with @cmsholdings. In case you don't know him, he's a crypto OG, the smart type.
He made a point that has also been forming in my head in the recent months. Tokenized equities are going to be bigger than stablecoins. Tokenized equities are essentially onchain tokens that are legal shares of companies, and by tokenizing them anyone in the world can finally invest on them. RobinHood is the chain leading the charge.
While for now it is mostly degens trading memecoins paired with tokenized equities, this could fly much further. I can envision a future where a vibrant Defi and Cefi ecosystem spawn around them, and eventually it becomes also a big magnet for normies, and the next buyer of crypto.
I could see "Leveraged tokens without decay" (our product), which also does not exist elsewhere, blow up if marketed right. If we sync this with the bull market, we could be part of a huge wealth effect.
Decayless retweeted
I closed my HYPE long on SIR after 244 days.
@Xatarrer is working on a new version of the protocol, so I'd rather close the trade now and reopen once the redeploy is live.
The trade returned around $400. It could have been a lot better, mostly because of liquidity.
> Opening the position cost 17% of its value in fees
> The same trade on Hyperliquid would have cost around 10% annualized in funding
> Low liquidity kept me from benefiting from the curve's convexity, where a rising price gives you more leverage
Less efficient, clearly. But I still like the platform.
That same convexity also makes you lose slower on the way down, which is what let me leave a leveraged position untouched for eight months.
Curious to see what they ship next. HYPE at this price looks fine to me too.
There is the word Hard DeFi making the rounds in contrast to Weak Defi.
Weak Defi is also faster. Easier to code, easier to deploy, often centralized, fast responsive UI.
Hard DeFi is trustless, innovative and freedom-seeking. We respect Weak Defi, but we love Hard Defi.
Xata is working his ass off to bring Sir Trading to the next level. We want to blow people's minds with the the evolution of its underlying primitive. We are striving for
🔸elite UI/UX,
🔸ground-breaking mechanics,
🔸better liquidity management,
🔸even more trustless AND
🔸a deflationary multi-chain protocol token.
Decayless retweeted
This is big.
SIR had a great start proving the underlying idea. Even suffering an exploit early on and successfully recovering with a new patched contract and launched on multiple chains. Ultimately one thing halted the growth of the protocol: dilution
This solves it (1/3)
What is the future of Sir Trading?
As creator and coder of the primitive underlying @leveragesir, I believe Sir's best days are still to come.
Why? Because unlike anything else out there, it is the only financial primitive that
✅ deleverages and releverages as price moves,
✅ without producing any type of decay,
because it charges no ongoing fees, while keeping the leverage precisely on the dot.
Was Sir perfectly designed?
No. Sir was my first attempt at coding this primitive into a DeFi protocol, and while I poured blood and sweat into it, it had flaws.
❌ As much as I like the tokenomics of Sir from an idealistic perspective, the constant issuance creates persistent sell pressure and can wear down long-term holders.
❌ In addition, we spawned too many tokens, one for each chain.
❌ UI/UX has improved over time but still remains unfriendly to those unfamiliar with the protocol.
❌ Having a pool of liquidity for each leverage tier for each different pair of tokens causes fragmentation.
Say hello to Exlex Finance
New name for a new and better protocol. Sir proved the primitive, Exlex is about building the protocol for adoption. We will overlay incremental improvements and top it up with some important innovations. Here are the changes that have me the most excited.
🧩 Less fragmentation. One single pool of liquidity will serve ALL the leverage tiers for a pair of tokens. I.e., 1.5xETH, 2xETH, 3xETH... will all be served from the same pool. Less liquidity fragmentation, smoother fees for LPs, better UX for traders/investors.
🔄 I have started conversations with @I____felix____I, exceptional digital author of CypherDudes. The protocol will ship with an NFT at the core of its design. Not an ad-hoc collection but we actually intend to fuse 2 seemingly very unrelated corners of crypto: NFT art and DeFi.
By feeding each other in a symbiotic relationship, the NFT collection will actually help improve liquidity in the protocol, and vice versa, the Defi protocol will bring more attention and demand to the NFT collection. A first of its kind.
🔥 The new token XLX at the center of the protocol will be deflationary, and it will be the same across all chains! It will live natively on Ethereum L1 and it will bridge using the canonical bridge to other L2s. The token will be distributed to LPs, investors, current holders of SIR, and through a potential airdrop. A portion of the fees generated by the protocol will be used to buy and burn the token.
🖥️ UI will be much easier to use, we will use standard financial terminology, fewer protocol-specific concepts, and a completely redesigned interface.
When do we plan to go live? Before the end of the year.
Stay tuned. 💜
Important read for our strong supporters. 👇
What is the future of Sir Trading?
As creator and coder of the primitive underlying @leveragesir, I believe Sir's best days are still to come.
Why? Because unlike anything else out there, it is the only financial primitive that
✅ deleverages and releverages as price moves,
while keeping the leverage precisely on the dot.
✅ without producing any type of decay,
because it charges no ongoing fees.
Was Sir perfectly designed?
No. Sir was my first attempt at coding this primitive into a DeFi protocol, and while I poured blood and sweat into it, it had flaws.
❌ As much as I like the tokenomics of Sir from an idealistic perspective, the constant issuance creates persistent sell pressure and can wear down long-term holders.
❌ In addition, we spawned too many tokens, one for each chain.
❌ UI/UX has improved over time but still remains unfriendly to those unfamiliar with the protocol.
❌ Having a pool of liquidity for each leverage tier for each different pair of tokens causes fragmentation.
Say hello to Exlex Finance
New name for a new and better protocol. Sir proved the primitive, Exlex is about building the protocol for adoption. We will overlay incremental improvements and top it up with some important innovations. Here are the changes that have me the most excited.
🧩 Less fragmentation. One single pool of liquidity will serve ALL the leverage tiers for a pair of tokens. I.e., 1.5xETH, 2xETH, 3xETH... will all be served from the same pool. Less liquidity fragmentation, smoother fees for LPs, better UX for traders/investors.
🔄 I have started conversations with @I____felix____I, exceptional digital author of CypherDudes. The protocol will ship with an NFT at the core of its design. Not an ad-hoc collection but we actually intend to fuse 2 seemingly very unrelated corners of crypto: NFT art and DeFi.
By feeding each other in a symbiotic relationship, the NFT collection will actually help improve liquidity in the protocol, and vice versa, the Defi protocol will bring more attention and demand to the NFT collection. A first of its kind.
🔥 The new token XLX at the center of the protocol will be deflationary, and it will be the same across all chains! It will natively on Ethereum L1 and it will bridge using the canonical bridge to other L2s. The token will be distributed to LPs, investors, current holders of SIR, and through a potential airdrop A portion of the fees generated by the protocol will be used to buy and burn the token.
🖥️ UI will be much easier to use, we will use standard financial terminology, fewer protocol-specific concepts, and a completely redesigned interface.
When do we plan to go live? Before the end of the year.
Stay tuned. 💜
There's a new version of this post
Decayless retweeted
Introducing MegaETH Skills
A repo of agent-ready workflows for protocols:
→ Lend, borrow, & manage collat on @aave
→ Swap & manage positions on @kumbaya_xyz, @PrismFi_
→ Trade leveraged positions w/ @leveragesir
→ Register .mega names w/ @dotmegadomains
→ Swap through @KyberNetwork
→ Deploy permanent onchain websites, files & NFT collections with @thewarren_app
Decayless retweeted
Definitively the best used case right now if you're bullish on crypto coin overall
LONG THE FCK YOUR COIN WITHOUT ANY RISK OF LIQUIDATION OR FUNDING FEES ANON
Sir Trading the underrated App