Difference between revisions of "Fluidity (FLUID)"
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*Code can be viewed [insert here]. | *Code can be viewed [insert here]. | ||
===How it works=== | ===How it works=== | ||
* [https://decrypt.co/120069/how-fluidity-wants-reward-actual-defi-users-over-profit-farming From] [[Decrypt (DCPT)|Decrypt]] (28-1-2023): | |||
''"Users first deposit a [[Stablecoins|stablecoin]] (i.e. [[Tether (USDT)|USDT]], [[US Dollar Coin (USDC)|USDC]], [[Maker DAO|DAI]], etc) into the Fluidity protocol and get a Fluidity-[[Wrapped Tokens|wrapped token]] (for the sake of this story, we'll call this asset an fToken, like fUSDT or fUSDC, for example). The original stablecoin is then deposited into a yield-earning protocol like [[Aave (AAVE)|Aave]] or [[Compound (COMP)|Compound]]. That becomes a sort of lottery jackpot in this arrangement. The payout you get varies "based on total value locked, daily active users, and [[gas]] fee of the specific [[Transaction (Tx)|transaction]],” Fluidity co-founder and CEO Shahmeer Chaudhry told Decrypt. “About half of transactions win something, whereas, on average, once every three months, someone will win a very large payout.”'' | |||
''But what about crafty [[Degen|degens]] who try to boost their odds by wash trading fTokens back and forth between their [[Wallet|wallets]]? Chaudhry explained that the gas fees to execute such spamming would “statistically” outweigh the potential payout. “There will be cases where if you win a large amount, you will get way more than input costs, but statistically an attacker will go bankrupt,” he said. He and the Fluidity team call this the “optimistic solution.” This is because, “the algorithm also rebalances the yield distribution accounting for this, so if transactions spike up, probability of payouts go down, like a difficulty function,” meaning those lottery odds drop as usage rises."'' | |||
===Fees=== | ===Fees=== | ||
===Upgrades=== | ===Upgrades=== | ||
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===Team=== | ===Team=== | ||
*Full team can be found [here]. | *Full team can be found [here]. | ||
*Shahmeer Chaudhry; co-founder & CEO | |||
*Has the following [https://docs.fluidity.money/docs/fundamentals/advisory-team advisors] (12-2022): | *Has the following [https://docs.fluidity.money/docs/fundamentals/advisory-team advisors] (12-2022): | ||
** [[ZachXBT]] | ** [[ZachXBT]] | ||
Revision as of 06:26, 2 February 2023
Basics
- Based in:
- Started in / Announced on:
- Testnet release:
- Mainnet release:
- Not to be confused with Fluidity the annual meeting.
History
Audits & Exploits
- Bug bounty program can be found here (12-2022) and goes up to $100,000.
- Fluidity has been audited twice (12-2022).
Bugs/Exploits
Governance
Admin Keys
- From their docs (12-2022):
"Fluidity is governed by a pair of multisigs:
- The community multisig (the operator) - a 4/6 multisig operated by members of the advisory team and well-respected members of the community at large
- The emergency multisig (the emergency council) - a 2/6 multisig operated by the same members of the advisory team"
One of these members is ZachXBT.
DAO
Treasury
Token
Launch
Token Allocation
Utility
- From the docs (9-2022):
"The $FLUID Governance token serves multiple purposes including:
- Utility Mining.
- Bootstrapping and Rewarding Protocols.
- Recieving Higher Expected Outcomes
- Utility as a Service.
- Changing Protocol Parameters."
Other Details
Coin Distribution
Technology
- Whitepaper or docs can be found here.
- Code can be viewed [insert here].
How it works
"Users first deposit a stablecoin (i.e. USDT, USDC, DAI, etc) into the Fluidity protocol and get a Fluidity-wrapped token (for the sake of this story, we'll call this asset an fToken, like fUSDT or fUSDC, for example). The original stablecoin is then deposited into a yield-earning protocol like Aave or Compound. That becomes a sort of lottery jackpot in this arrangement. The payout you get varies "based on total value locked, daily active users, and gas fee of the specific transaction,” Fluidity co-founder and CEO Shahmeer Chaudhry told Decrypt. “About half of transactions win something, whereas, on average, once every three months, someone will win a very large payout.”
But what about crafty degens who try to boost their odds by wash trading fTokens back and forth between their wallets? Chaudhry explained that the gas fees to execute such spamming would “statistically” outweigh the potential payout. “There will be cases where if you win a large amount, you will get way more than input costs, but statistically an attacker will go bankrupt,” he said. He and the Fluidity team call this the “optimistic solution.” This is because, “the algorithm also rebalances the yield distribution accounting for this, so if transactions spike up, probability of payouts go down, like a difficulty function,” meaning those lottery odds drop as usage rises."
Fees
Upgrades
Staking
Validator Stats
Liquidity Mining
Scaling
Interoperability
Other Details
Oracle Method
Their Other Projects
Roadmap
- Can be found here.
Usage
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
Team, Funding and Partners
Team
- Full team can be found [here].
- Shahmeer Chaudhry; co-founder & CEO
- Has the following advisors (12-2022):
- ZachXBT
- DCFGod
- MrBlock
- Eden (from The Block)
- Igor (from The Block)
- Big D Senpai
- Ivan (LobsterDAO & Gearbox)
Funding
Partners
(:
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