And that was because when you're depositing a single asset into our position, reason why we don't do a swap and we don't mandate a secondary asset be paired with that is because it goes straight into the limit position, which means, you know, we're deploying a low position with the single-sided asset one tick above the price, so that when the price drifts into that tick, it now is comprised of two assets in that, and when that hits the ratio of the base position, that limit order then get deposited into the base position. So, we've thought about this a lot in the terms we've had some of the fractionalized NFT projects come to us where you can deposit NFT, you can get minted fractional tokens in return, and of course that is meant to be paired with the floor price of the NFT. 1 0 obj XYK: So we started off, you know, wanting to create a discretionary asset management stack with Ethereum and that's pretty complicated because most of DeFi is, the way you get yield in DeFi, we see it as really two categories. One is through lending protocols where you have positive sum, you're lending out your assets, you're getting a return on that. The Visor Finance protocol is made up of a few modular components which allow active management of assets within DeFi protocols. And I think on Mainnet those will be, we won't be adding too many more other than a whole new category, which is the stable to stable, you know, that makes sense to have on Mainnet, but we are, we've deployed our contracts in Arbitrum and Optimism and going through an audit with Quantstamp. Browse and apply for open positions at Visor. A Visor 2.x vaults allow for management and permissioning of ERC20, ERC721 assets for use by external protocols for such purposes as active LP token management or directly by user for such purposes as for asset timelocks and NFT collection and LP position management. Thank you so much for having us. And that is the admin contract that allows for a manager to have restrictions on what they can do, but still have enough permissions to allow them to properly manage the Hypervisor, which is, you know, the position. Like who else is doing something similar to this? provide liquidity on Uniswap V3, optimize the position, and manage it to maximize returns. The scammer posted a fake, "A hacker scammed Fractal's Discord and stole $150,000", "Justin Kans NFT platform suffers rocky debut as scammer makes off with $150K in user funds", Traders hoping to get in on the "Monkey Kingdom" NFT collection are duped by a scam link in the project's official Discord, An NFT trader hoping to get in on the "Monkey Kingdom" NFT collection was duped by a scam link in the project's official Discord channel, and sent 650SOL (about $116,000) to a scammer. Who's idea was this? That's cool too! We deployed there yes but it's not open to the public. And is that just to maintain liquidity and reduce slippage through all price points? Yeah, totally agreed. Please, Index Coop's live recorded AMAs in the Index Coop Discord server. And I love, I just love so much like the true financial use of non fungible tokens, right? So we saw these two categories and said, you know, most of traditional finance is based upon discretionary asset management. 6 0 obj XYK: Yeah, I think Brian is better at answering this than I am. If youve decided to participate in the Hypervisor, the next step is to mint a Visor NFT by clicking Mint a Visor NFT on the main dashboard. And what that means is that you have to select a price range to provide liquidity within. endobj
There's a heavy data science component to this, there's a price predictive element to that. And so we do follow them where they go. This commit does not belong to any branch on this repository, and may belong to a fork outside of the repository. And I'm wondering if y'all could just shed some color on this - how does Index fit into this? XYK: All right, sounds good. And its not using any of the, it's not using NFTs, it's not using concentrated positions as they were invented by Uniswap, but instead using something different, which is very exciting. So I'm XYK, happy to be here. Something went wrong while submitting the form. So we are thinking about that and how to add that, but for the meantime, we're working with other market makers. Just, yeah, just very specific to the Index liquidity that, you know, proposal just got passed and I think sometime next week, we'll get the liquidity Index deployed to Uniswap, but something particular about the Index pool is that, you know, there's a lot of trading data available, like Uni V3 trading data and there's already about close to a million of TVL on the pool and the protocols and add another 1.4 million to the pool. So if it's ETH / USDC, you're choosing, you know, $3,000 to $5,000 dollars that you're providing liquidity for. Crypto Texan: So, I've interviewed one person, two people. So yeah, I mean a lot more to be seen with the NFT vaults, but they are a very interesting layer of our protocol. Impermanent loss on Uni V3.
XYK: Yeah so we've also discussed with Sushi about Trident, where those contracts are going to be very similar to Uniswap V3 contracts. Visor is a living Smart Vault platform and compatibility layer within the emerging DeFi ecosystem built on the UniversalVault standard developed by the Alchemist project. I feel like you're being very careful not to say the name of that AMM. So if the liquidity directors are choosing Uniswap V3, well you're going to need a manager for that, so that's how we're thinking about interfacing with them and building adapters. \_7YwJXq1t2)< ,HcEfyT>Zc. BC>LGy]gX}mT&M#D38=cA/;YK"=R`G)]zUyV And does having the LP position within the NFT, does that mitigate some of those gas costs or, how does that all that play in? Check out the Web1.0 version of the site to see more entries. And I know you touched on it a little bit, but now let's just dig right into Visor Finance. <> Marketing Image:@ChavisChance/@cafpunk, Conversations with the Coop - Core Team - Gamma Strategies (formerly Visor Finance). And I'm guessing they would just be the types of, I mean, is it permissionless or is it just the types of pairs that Gamma Strategies is comfortable managing? That's just looking at all fees returned in the pair, relative to the TVL that's in the pair. And so we do follow them where they go. 7 0 obj And then our next focus, or Gamma's next focus was to mitigate impermanent loss and, they're called Gamma 1.0 and Gamma 2.0 strategies. And then as volatility lessens, then the bands will snap back more narrow and take advantage of the higher multipliers. We typically run different types of strategies to handle that, and they're more heuristic in nature where we'll do a price stand of let's say plus or minus 50% around the current price tick and as the price moves up or down a 10 or 15%, you'll rebalance around the current price. Oh, okay. And then the Hypervisor is for each position. So that's sort of the trade-offs and how impermanent loss works on Uni V3. The DeFi protocol for Active Liquidity Management. This is where we source questions from the Index Co-op community to gain insights from today's leaders in crypto and DeFi. I do community management as well as business development and partnership outreach. So it's a Hypervisor smart contract that is the position manager contract. Crypto Texan: All right, appreciate those backgrounds and introductions everyone. That is the formula for Uniswap V2 - X times Y equals K. I can't believe I'm just now realizing. Current Value represents the value of your position and I recommend keeping track of the initial value since its the only way to track your gains. And that'll be next week when that goes live. And that was another reason why Gamma created the Dune dashboards that any, you know, these are public, you can see the APYs and, usually the one, like if you look at the past two days on Mainnet, you're going to find pairs that return more than 1000% APY. So, most of these other position managers swap unrebalanced, and that to me is just the biggest differentiator, because you're eliminating so much of what you could be making on behalf of your LPs, just by doing this rebalance, without being thoughtful about it. Or how was this partnership developing between our DAO and Visor Finance? 0x8dAed2Da38f4a4eB0c46F2E0e6811f63b7c7752C, 0xaE03233307865623Aaef76Da9ADe669b86e6F20A. Then we have another layer, which is the last layer, and that's called the Supervisor. Now, one last question or two more quick ones - do y'all look at any other AMMs like Sushi or Balancer or does that not really fit y'all's model? Oops! 2 will no longer have NFTs after fan outcry", used to target members of the Monkey Kingdom NFT collection Discord, used to target users of the Fractal project's Discord. Yeah, we're big Polygon fans over here too at the Index Co-op, got a lot of our assets deployed over there. It is to lower slippage on both buys and sells, and always stay within range so that there's liquidity around the current price of the token. And so the way that, you know, right now we do not add a trading component or volume component, meaning we're just deploying liquidity and making sure that that stays around a certain price and, you know, all the different functions that we do with position management, except for the swapping function, external to the position, right? I'm your host Crypto Texan. Is there overlap? And then do I have to put the assets in there? No yeah, that was great information. endobj Use Visor.sol 2.0.x as a base and submit your template proposals for admission at snapshot.org/#/visor.eth, Visor(base nft template) 0x8dAed2Da38f4a4eB0c46F2E0e6811f63b7c7752C, VisorFactory 0xaE03233307865623Aaef76Da9ADe669b86e6F20A. Thank you! And then further, if any person who's trying to buy or sell the token is using an aggregator like Matcha or 1inch, that will automatically route to that V3 position anyway, so as soon as you reach this critical point where all trades are being routed through the V3 position, then the liquidity in other places is almost useless because there's no trades being run through that. So that's the stack and the reason for it. And is that just to maintain liquidity and reduce slippage through all price points? Now that's entirely different with projects. And then I guess the third differentiator would be the fact that we focus on retail piece first and then once we got that down, we were able to focus on a different category and help, which are the projects that we help, actively manage liquidity on their behalf. And the first thing, when Uniswap V3 came out was, was to route the front end to V3 if there's less slippage. Crypto Texan: That's okay, that's okay. Crypto Texan: Yeah, absolutely. I've been in touch with many members of Index Coop, including, you know, JD regarding like Index liquidity and Matthew Graham regarding MVI and various other Index products like 2x FLI and, you know, all the 2x FLI products and also been in touch with people working on various projects within Index, like the JPEG group and GMI as well. Before we get started, heres some background information: On 11/2, the LQTY/ETH Hypervisor went live! But if you do have a sufficient amount of liquidity in there to begin with, then that is what makes this strategy pretty optimal. All right, sounds good. Crypto Texan: Wow, I feel like my mind is just now opening up to like all the different composability options of Uniswap and y'all are just taking advantage of these. At the moment, Visor is working to push out a UI update that will do this for you!
Y'all this has been fascinating, great information, really excited about the partnership between Visor and Index. And so those, you know, some of those constraints won't apply on L2, where they do apply on Mainnet. A decentralized token offering platform powered by Balancer V 2.0 that allows for fair and user-friendly token launches. You signed in with another tab or window. Sure so we're mainly on Discord, you know, our Telegram has an announcement channel, but we're on Discord - you can see our logos here, these are the or not logos but profile orbs, you know, find us on Discord, in our channel, visor.finance is the website. And then how does Visor tie into Uniswap and what role is it playing in the DeFi ecosystem? And it allowed for the liquidity providers to just provide a ratio of assets from the price of zero to the price of infinity. Impermanent loss on Uni V3. The easiest way to buy, sell and trade crypto, Dedicated to preserving humanity's most important information, A decentralized solution to secure PDF documents from fraud without intermediaries, Come work on a global project which is changing the gaming industry, A new kind of hedge fund built by a network of data scientists, Confidence and security in digital asset investing, The world's leading social investment network, Investing in the future of Ethereum Classic, The best new crypto jobs In the example below, Im opting for single-asset liquidity and depositing 1200 LQTY. So it allows for gasless subscription to a reward contract. And number two, you can attract talent that understands how to make a strategy, and then deploy that strategy. You know, to mint an NFT, it is more expensive than just making a deposit into a traditional vault. So a deposit or withdraw, but you never know if you're managing a position where anybody can withdraw, you may know that it's going to go the composition of assets in the position is going to be 90/10 for two hours. Wow, I could see how that would just be a huge benefit. So a protocol like Yearn that has strategies in order to capture returns from farming and other ways, but based upon the hyper-issuance of a new asset, like Curve for example. Another question I have is I saw today on Twitter that Uniswap at the front end now routes to the most price efficient with the less slippage, through V3 or V2.
Like how does Visor, and I think you said that you use Gamma Strategies to use this, but what determines when there is a need for a rebalance or an adjustment of those bands that have been deployed? Let me think, which one do I want to ask? To listen live on the next Conversations with the Coop - FollowIndex Coop on Twitterand join theIndex Coop Discordto get the real Owlpha. to receive our weekly email with the latest crypto jobs. I do community management as well as business development and partnership outreach. It was about two months after, when we realized that these strategies are complex. So I guess, yeah, those are my next two questions - who are your competitors and why do you feel like y'all have been so much more successful than those competitors? So, the entire vision of the vault is not totally built out, now we have a lot of projects that we're working with that want to do liquidity they want to reward for providing liquidity for their positions. You follow where Uniswap V3 goes. The first one, which is who we anticipated using the protocol at the very beginning, are the retail LPs or regular DeFi participants that want their main objective is to attain yield or returns on positions that are managed by Visor. And, you know, traditional vault and DeFi, where you're minting LP shares and how can we set up, then a layer that allows for a manager that is applying discretionary strategies with an element of price prediction, and an element of there being possible loss with impermanent loss, but more of a structure that allows for the management of assets and choosing where they go and things like that. And I help out with a lot of the financial stuff. So we want to be able to manage many more pairs on L2. And that way you'll have custody of those. Yeah, so the reason why, and this, it didn't start at the beginning. Okay. So I guess my next question is, what types of pairs are available? Brian: And I'm Brian or BP. So the structure before Uniswap came about was, at the base layer, you have an NFT - an NFT vault, or a Smart Vault. Then there was the secondary update to the Auto Router that was more of an auto router than just configuring the front end. And when you do that, you are depositing assets. Although the general information provided on the main UI is great, its always nice to get an in-depth review of each Hypervisor's performance. And does having the LP position within the NFT, does that mitigate some of those gas costs or, how does that all that play in? Visor Finance is a decentralized protocol that offers non-custodial active liquidity management for Uniswap V3 LPs. Follow updates on Twitter, Mastodon, or with RSSCreated by Molly White (Twitter, Website). And I know you touched on it a little bit, but now let's just dig right into Visor Finance. And because you have to be active, you know, that costs money to mint another NFT if you want to change your ranges. Original announcement here. So you would rather just not have exposure to the volatility in the upcoming time period and the way that is solved, which is a very creative way, that the people at Gamma and Saganaki specifically was able to identify and deploy, is by taking one of the bands and basically exploding it, you know, making it so that it goes almost to infinity or almost to zero. And it allowed for the liquidity providers to just provide a ratio of assets from the price of zero to the price of infinity. It can sort of be done by having the two simultaneous positions. Because of this, some speculated that it may have been a, "Bent Finance Exploit Originated From Deployer Address, Confirms Protocol", "Bent Finance confirms pool exploit, advises investors to withdraw funds", Dozens of users report money disappearing from their El Salvadoran Chivo Wallet accounts, One of the tweets reporting apparent theft, A Twitter thread showed dozens of people reporting amounts from hundreds to tens of thousands of dollars disappearing from their Chivo Wallets, the Bitcoin, "El Salvador Just Became The First Country To Accept Bitcoin As Legal Tender", Grim Finance is exploited for $30 million, Grim Finance, the "compounding yield optimizer", "Grim Finance Hacked for $30 Million in Fantom Tokens", Adidas learns the hard way that limiting the number of NFTs one person can buy is hard, Anticipating that buyers would try to hoard items from a big-name NFT, "Investor Purchases 330 Adidas NFTs Using Smart Contract - 328 More Than the Cap", Prominent comics artist says continuous theft of his work for use as NFTs may force him to close his DeviantArt gallery, DeviantArt Protect software detecting stolen artwork, Comics artist Liam Sharp wrote on Twitter that he would likely need to close his DeviantArt gallery, which he has maintained for fourteen years, because his artwork keeps being, "Comic Artist Liam Sharp's Work Is Being Stolen, Sold as NFTs", Multiple artists report OpenSea automatically closing their support tickets reporting stolen artwork; OpenSea removes ability to report, Artists going through the greuling process of reporting individual NFTs created without permission from their work reported tickets being automatically rejected. Well, it looks like we're up on time here. Uniswap is one of the largest decentralized exchanges (DEX) on Ethereum and youve likely used it to swap tokens or provide liquidity. So then you have, you know, you have this contract that basically routes your assets to and from your vault and goes to the protocol. So when I think about Visors L2 strategy, I think you said that you're on Arbitrum and Optimism and so. And so far Gamma has issued many of these grants, some to groups at universities, some to people that are in traditional finance right now, and others to groups that have built our latest one was one to a group that built a very robust Uniswap V3 simulator that we can use because, you know, using Uniswap on Testnet is difficult. So really the name of the game in Uni V3 is to limit impermanent loss as much as possible while also maximizing for fees earned. You also have the fee tiers that have changed, and so you can have a 1% fee tiers. Is that, I mean, that's your main focus, right? Artists were also required to provide personal information to OpenSea, who in some cases forwarded the personal information to the scammer behind the theft, opening the artist up to, "Read the S.T.A.L.K.E.R. Visor has three primary mechanisms: Now that you understand the key benefits of using Visor Finance and how it works, lets get into the tutorial . The Progressive Cap is also a protective measure for users, and its a restriction that prevents the user from depositing into a pool when it reaches a certain TVL in relation to Visor's overall TVL. Crypto Texan: I feel like you're being very careful not to say the name of that AMM. Crypto Texan: Yeah, and another thing that just pops out at me as a question I feel like I need to ask is, you know, gas fees on, especially like layer one Ethereum, because, you know, as it goes, the more complicated the contract, and NFTs are pretty gas sensitive too, how do gas fees play into that. And then how does Visor tie into Uniswap and what role is it playing in the DeFi ecosystem? Index Coop: http://www.indexcoop.com, Audio and transcript from the December 16th, 2021 installment of Conversations with the Coop with, To listen live on the next Conversations with the Coop - Follow. And then beyond that, we're building, we're working with Olympus Pro in order to allow other projects to use V3 positions in a bond at Visor, V3 positions and you know, our next one will be with Float and that'll be an Olympus bond that takes Visor LP tokens. Thank all of y'all for being here with us today. Let's say you have LP tokens that you're providing liquidity for. Note: If you try to go above the caps, youll encounter a transaction with a very large gas fee. And that's not even taking into consideration a concentrated position. And I love, I just love so much like the true financial use of non fungible tokens, right? Crypto Texan: Okay, and I think you may have touched on this a little bit earlier, but what strategies does Visor Finance employ? As a result, the protocol also had to replace liquidity pool (LP) tokens with NFTs in order to contain these new variables. Thank all of y'all for being here with us today. And you can visit our web app through there, but that has also all the relevant links. And so we have been in discussions with Polygon for a while and we're prepared for launching on Polygon when Uniswap deploys there. Hello everyone, welcome to conversations with the Co-op. And so the Hypervisor maintains, or deposits those into the position, and then those LP tokens will be stored in your vault, in your NFT vault, opposed to, you know, not your wallet, which is typical. And I help out with a lot of the financial stuff. So, anticipating that there's going to be a high period, a period of high volatility and not really knowing, you know, is it going to go up or down, but knowing there's going to be volatility and wanting to not participate in that volatile period, because you may go out of range. So if you're swapping a hundred thousand dollars, youre paying $1,000, if it's in a 1% fee tier. Its worth mentioning that this can be raised by the team or from the overall TVL increase. Well I mean, we started day one, so that gave us a big head start. So the way that we see it, as you know, there's a lot of liquidity that is either owned or owned by the community across multiple different decentralized exchanges. % But you will have that, you have that NFT, you don't have to mint another one. And this also allows us to change the composition of assets when we rebalance without having to do a swap. Is that a strategy that could be implemented possibly? So if someone's using 1inch or Matcha to make trades, and a V3 position is better than Sushi, meaning less slippage, then of course it's going to be routed to us. And so we used our stack that we had already created and deployed and just pointed it entirely towards Uniswap V3, because Uniswap V3 mandates that there's a manager. And I'm guessing they would just be the types of, I mean, is it permissionless or is it just the types of pairs that Gamma Strategies is comfortable managing? So, yeah, that's pretty much what I do - passing it along to Saganaki. It was about two months after, when we realized that these strategies are complex. Crypto Texan: Yeah, we're big Polygon fans over here too at the Index Co-op, got a lot of our assets deployed over there. Thanks to the core contributors of Visor Finance for being here. This is being recorded and we will get this out in about a week.
We view this and have seen it where a position is opened on V3, and a project gets involved and first moves their protocol, own liquidity there, and then others will naturally add their liquidity. And so Gamma 1.0 was the Bollinger band strategy, Gamma 2.0, really comes into effect when we want to entirely eliminate impermanent loss. So, the goal there with the first set of participants is obviously fee captured. And, you know, that's a big reason why we created Gamma and Gamma created the active position strategy framework, where you can see all of these variables and you can construct a strategy and simulate a strategy that can be applied to the contract itself. Visor is traded on exchanges. And so we don't like to touch exotic pairs, you know, we want a lot of volume, we also want in relation to the volume, a certain amount of TVL that makes it so that theres, that volume returns a high amount of fees. Crypto Texan: Oh, okay. And you also have to, it also costs, you know, it takes a lot of time to monitor your position. You're looking for an average between all of the intervals within a select time period, and then you're applying a standard deviation, which is setting how wide the range is. But somebody could be withdrawing at that time period, and you don't want them to suffer impermanent loss. And then today, Uniswap came out with an update to their Auto Router, which is more about providing liquidity and makes it so that the ratio of assets that normally would have to have been acquired independently and previously to adding liquidity, once you select your range, meaning you have to have both ETH and Index token and you have to have the exact amounts and you have to select a price range. And then beyond that, we're building, we're working with Olympus Pro in order to allow other projects to use V3 positions in a bond at Visor, V3 positions and you know, our next one will be with Float and that'll be an Olympus bond that takes Visor LP tokens. And in terms of the sequence of events, that can either be through our position because we can list that publicly on our front-end and allow for anybody to deposit their assets into the position. So Uniswap V3 represents sort of a hybrid between Uniswap V2 and a traditional exchange like NASDAQ, or New York Stock Exchange where you have or centralized exchanges in crypto where you have an order book and no liquidity providers. straight to your inbox. And some meme that I've been seeing go around a little bit is, we should all be striving for a TVL of zero, which means the protocol doesn't ever own those assets. So, and we've seen that, you know, we expected the APY or APR to go down soon after a V3 launch, but we have seen, and, you know, I think it makes sense because the fees have stayed relatively stable and high. Just more efficient, I guess. We follow Uniswap and that's because they're the, of course we're loyal to them because they were the inventors of this concentrated liquidity, and they're the only ones right now that exist. Yeah, thanks for that. So you're looking at the past seven days or the past seven minutes. You may suffer impermanent loss and that's important impermanent loss, it has to be measured between a start date and an end date. So I come to the platform or the app and I mint the vault NFT, and is it empty at this time? So I can just walk you through the structure. Wow, I feel like my mind is just now opening up to like all the different composability options of Uniswap and y'all are just taking advantage of these. XYK: Right. Whereas if the range was extremely wide, then it would mitigate impermanent loss in that you're more slowly selling the underperforming asset or the outperforming asset, for the underperforming one. Something went wrong while submitting the form. Afterwards, the UI wont change much but youll now be able to deposit assets. And so that was when the two ideas merged because being a manager on Uniswap V3 is discretionary. First I want to touch on Gamma Strategies, and what is that relationship between Visor and Gamma Strategies? No JavaScript? 2 developers deleted explanation for why youre getting NFTs", "S.T.A.L.K.E.R. We also, this is my view, but I think we're more thoughtful about the design of the position manager contract. I run operations at Visor and make sure that everything is running, with all of our pairs, you know making sure when we interface with different clients on Visor Phantom.
visor finance discord
