<aside> 🏝️ Instantly unstake for a tiny fee. Borrow against your stake without depegs. Bribe Liquidity Providers. All staked assets, one pool to support them all. DeFi summer 2.0 is right around the corner.

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🤝 For stakers, by stakers

We build liquidity protocols specifically designed for staked assets, solving key issues that exist for stake in DeFi today, creating better experiences for stakers and liquidity providers alike.

🌊 Unified Liquidity

We’re unifying liquidity for swapping and borrowing for all LSTs into a single pool, solving the fragmentation that exists today and creating better opportunities for liquidity providers and stakers.

⚔️ The Stake Wars

We’re bringing back the Curve wars! Liquidity providers can be bribed. LSTs protocols giving better bribes can receive lower fees or interest rates for their users versus their competitors. LSTs can tap into available liquidity without bootstrapping their own pools and bribe their way to success.

Why lpETH // lpSOL ?

<aside> 🚫 Fragmented Liquidity LSTs have isolated liquidity pools requiring individual incentives and bootstrapping. LPs find themselves split between various pools, despite all these LSTs representing the same asset.

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<aside> 🚫 Dead Capital Paired liquidity is redundant when the primary goal is to facilitate the exchange of LSTs back into its underlying.

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<aside> 🚫 Floating Market Price Triggering liquidations using a floating market price, ignoring the true backing of an LST, continues to lead to unnecessary capital loss.

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<aside> ✅

Unified Liquidity Unification of liquidity and volume creates a much more attractive opportunity for liquidity providers, but also removes the cold start problem for new LSTs coming to market.

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<aside> ✅ Capital Efficient Single-sided liquidity frees up the LST capital for liquidity providers to deploy elsewhere and provides a much simpler liquidity provision opportunity.

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<aside> ✅ Net Asset Value LSTs should be valued based on their backing of underlying, a premium could be charged based on an LST’s demand for liquidity.

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<aside> 💫

A DeFi unicorn is born: with “lpETH” and “lpSOL” we’re supporting the two largest crypto ecosystems.

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Products

Swap (Summer ‘24)

• Single-Sided Liquidity: The pool contains ETH or SOL provided by liquidity providers.
• Unstake Instantly: Swap your favorite LSTs instantly for the underlying. Staked assets received from swaps are unstaked by the pool, increasing their respective utilisation until the funds are available for withdrawal.
• Pricing: LSTs are priced based on their backing by the underlying. Trading fees are based on the relative utilisation of ETH or SOL in the pool by each derivative, and thus their current demand for instant exits.
• Fee Gauges & Bribes: Fee gauge is a ratio applied to the fees for a particular derivative that can be adjusted based on token bribes given to LPs.
• lpETH // lpSOL: The liquidity pool token, representing the user’s share of liquidity.

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Borrow (Fall ‘24)

• Single-Sided Liquidity: The pool contains the underlying asset provided by liquidity providers.