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Arbitrum <> Delta Prime
Recorded: Sept. 21, 2023 Duration: 0:57:19Space Recording
Full Transcription
be voted by the DAO when it's time.
So yeah, many exciting things happening in the Arbitrum ecosystem for sure.
And yeah, exciting to be talking today with Delta Prime, which is also building the Arbitrum
ecosystem.
So yeah, how are you?
Who's behind the Delta Prime account?
Hey, a very good evening.
I'm Gevin.
I'm Gevin, one of the founders of Delta Prime.
Thanks for inviting us.
Cool.
Fantastic.
Yeah, for sure.
Very exciting to have you here.
And yeah, well, I would like to hear a little bit more about you.
Like maybe you can share.
You already said that you are one of the co-founders, but maybe a little bit more about yourself.
What do you do?
Yeah, definitely.
Yeah, so indeed, like I'm one of the co-founders.
We have three founders in total.
I'll introduce all of us.
So to start with myself, my main role is CBDO.
So I go out in the DeFi ecosystem of Arbitrum, of Avalanche, where we launched initially.
And I play with protocols.
And I look for good strategies that we can integrate into Delta Prime.
What our users would benefit from, and what I get excited about, and what I see that the users get excited about.
Finding strategies, communicating that to everyone within Delta Prime, and also finding the strategies that are possible within Delta Prime.
Because quite frankly, that's a challenge, a fun challenge on its own.
So that's mainly my role.
Then we also have Camille, Camille Mucca.
He's mainly CTO of Delta Prime.
And he's very security-focused, right?
So where I can come with an idea, hey, let's integrate this protocol into Delta Prime, because it has huge yields.
It has an engaged community.
I see a huge opportunity here.
He might be someone who says, sounds amazing, but they are not doxxed.
There is no multisig in place.
Contracts are upgradable.
There's no time lock.
Things like that, right?
And then we just won't integrate that protocol.
So he also built the Delta Prime Foundation from the ground up.
So that's Camille.
And I have Piotrek, Piotrek Duda.
He is CEO of Delta Prime.
And he just knows everything that's going on wherever in the protocol.
So whether it's UI, back-end, investors.
He's on top of everything.
And together we are the three founders.
But we also have seven amazing contributors to Delta Prime.
Two moderators, one designer.
And the rest is devs, really.
We're very dev-focused, development-focused.
And because of that, we scale also really, really rapidly.
Nice.
Fantastic, Gavin.
It's always very cool to hear more about the people who are building the Arbitrum ecosystem.
So, yeah, very inspiring to get to know more about you.
So, cool.
Maybe we can start with the first question.
What is Delta Prime?
How is it different from other lending protocols out there?
Delta Prime is a, like you said, like a borrowing and investing ecosystem.
It's like a prime brokerage on chain, but which essentially means that we offer a lot of services.
I believe what makes us most distinct is that it's the only place on both Avalanche and Arbitrum
in which you can deposit $100,000, in which you can borrow liquidity in a higher volume than you put in initially.
So, usually when you, for example, take out a loan on an Aave or on another over-glaryalized protocol,
you deposit $100,000 and then you can borrow $80,000.
On Delta Prime, you end up with more liquidity.
So, you deposit $100,000, you can borrow $300,000, $400,000.
As a user, you want that because, as we all know, money makes money.
If you earn 10% yearly, but you do it on $100, then at the end of 25 years, you end up with $1,000.
But if you have a million dollars and you earn 10% on that, then you can live off of that, right?
Usually in most places in the world.
So, money makes money and we make it easier for the smaller player to play with bigger amounts.
One of our slogans is also become the will.
So, that's, I believe, the most important part.
We also have more sophisticated users who, instead of just leveraging their current position, right, increasing the positions that they have right now, they might hedge their positions.
One of our users is a big hedge fund who, for example, during the GLP rush, which was about February and March,
they used Delta Prime in order to borrow GLP, borrow the underlying assets of GLP in the same weights, and in doing so, reduced their market exposure.
While, at the same time, increasing the fees that they would receive from GLP.
So, you can reduce your market exposure as well.
There's a lot of ways that you can go into.
The under-caleralized lending part, that's the thing that makes us most distinct.
Nice, totally.
I see, I totally see why Delta Prime is defined as borrowing and investing ecosystem.
So, cool to know that.
And I'm wondering as well, how do you ensure loan repayment?
Yeah, so if you, let's take the previous example, right?
I think you said, I said, if you deposit 100 bucks, you can borrow, for example, 300 bucks.
If we would just send that to your wallet, then you could just run off.
You could go away.
You would never have to return your loan.
Because it's all completely trustless, right?
We don't do any credit checks.
So, the way that we make sure that loans get repaid, there are a bunch of security features that we have in place.
But the main one is that we make use of an escrow account.
So, if you put something in escrow, usually you give it to a trusted third party.
You give money to a trusted third party.
And then, as you do your transaction, as soon as you receive what you're supposed to receive, whether it's a service or something else, then a trusted third party will make sure that the money goes through and that neither party backstaps each other, so to say.
With Delta Prime, that trusted third party is a smart contract.
So, lines of code, which have been audited.
So, if you deposit your 100 bucks as collateral, that goes into that smart contract.
When you borrow $300, that also goes into that smart contract.
And that smart contract, you as a borrower, you're the sole owner of this smart contract.
You're the only one who can decide what to do with it.
You can use it to trade.
Right now, we have Yule Check and Paraswap integrated into Delta Prime.
So, it's been used a lot for trading.
But you can also say to that smart contract, hey, I want to swap half of it to ETH, half of it to USDC.
And I want to open up an ETH, USDC pool with Trader Joe, for example.
Now, that smart contract, it will do that.
And it will do everything you say as long as it stays within protocols that have been whitelisted by Delta Prime.
Those are partner protocols.
And as long as your LTV, your loan-to-value, is under 500%.
So, your leverage, so to say, is under 5X.
If you lose too much value, that smart contract will do automatic or liquidation bots.
They will liquidate your position partially, bring your health meter to a healthy point, to 25%.
And in doing so, it will make sure that the depositors don't run the risk of a borrower mismanaging funds.
Does that answer your question?
I need to zoom in on.
Yeah, for sure.
It really helped with your example there with the 100 bucks.
Yeah, very, very cool.
Thank you for that.
And I'm also wondering, where does the liquidity to lend assets come from?
That's the depositors.
Just like on Aave.
I take Aave as an example because it's one of the biggest lending protocols out there.
It's the biggest lending protocol out there.
So, on Aave, you first have to deposit any money before you can borrow funds.
It works in a similar fashion.
So, you have users that deposit funds and others can borrow from that.
The difference is that on a Delta Prime, you can choose to be either a lender or a borrower.
And that's also where the capital efficiency of Delta Prime comes in.
The whole reason that we are here in the first place is because over-clarialized lending is extremely capital inefficient
with borrowers who are forced to lend out their assets first.
If you want to borrow BTC, for example, and you want to borrow $100 because you want to short it,
you first have to deposit another token or the same token on another over-clarialized protocol.
Because of that, because a fair market price comes to be from supply and demand,
if you force everyone to be a supplier of capital, also the people who actually are there to demand capital,
you get a very low interest rate and you end up with an overall inefficient system.
So, that's where Delta Prime differs from over-clarialized protocols.
You can choose to either be a lender, meaning that you deposit your funds in Delta Prime and you can't borrow against it,
or you are a borrower, meaning that you can put your collateral in.
You won't immediately earn any interest on that, but you can borrow under-clarialized.
And then you can use your collateral in any way that you want anyway.
So, if you want to put it in a liquidity pool with Trader Joe, with Bfee, or with any of our other upcoming protocols,
then you can do so as well.
So, to answer your question in short, we have lenders.
And the benefit of being a lender, by the way, on Delta Prime over being a lender on any of these other protocols
is that you're not competing with people who don't want to lend.
You're only competing with other suppliers of capital.
So, with less competition, the interest rates are, in general, high.
If you take a look at our USDC, what we've done so far on Avalanche, for example,
you're looking at about 8% APY, which is, given that it's single-sided, that we've been audited seven times,
and that it's all pure real yield, that 8% that I'm talking about, all pure real yield,
all paid by borrowers, is a very high interest rate.
Cool, nice, I see.
Yeah, totally makes sense, the process that you're doing at Delta Prime.
And, yeah, a lot of protocols, I heard, the ones that I heard that you are also partnering with.
So, yeah, that's something very cool, because that's what I feel, that in the arbitrary ecosystem,
there's a lot of protocols helping each other.
So, yeah, that's very cool to see.
And, well, I was taking a look at the Delta Prime website, and it says that Delta Prime has a strong focus on partner protocols.
So, where does this partner focus come from?
Maybe from this, what you were mentioning before, like, that is a very important thing for you to, yeah,
to collab or collab with other projects, or why do you think it is?
Yeah, no, definitely.
Like, Delta Prime has, like, some sort of symbiotic relationship with these protocols.
We live by the grace of them, so to say.
If we wouldn't have any partners, if we wouldn't have any integrated protocols into Delta Prime,
there would be no use case to borrowing under-caderalized,
because we have a walled garden kind of system.
So, the funds that you borrow, you can use them for these partner protocols.
And when I'm saying partner protocols, just to name a few names,
I think I already mentioned Trader Joe, Yule Jack, and who else did I mention?
GMX.
But we've also partnered up with Level, with Camelot, with PenPy,
and those are all protocols that benefit from this relationship with Delta Prime,
in the sense that if, let's say you have a DEX, right?
And you have a volume, a daily volume of, or you have a liquidity pool
that right now has a million dollars in it.
And a single-sided AMA, let's say Wombex.
Wombex has a liquidity pool with a million dollars worth of DAI in it.
And their users, they want to have more allocated to that pool,
because that pool is yielding 9%, maybe, or 8%, it's yielding good.
But they don't have any more capital available.
As long as the interest rate on Delta Prime is lower for borrowing a stable,
and you believe that the stable that, and you believe in DAI in this case,
you can say, okay, I'm going to do a carry trade.
I'm going to migrate my position that I have on Wombex right now.
I'm going to migrate that to Delta Prime,
meaning that you don't have to unstake anything,
so Wombex doesn't lose anything.
But because it's now in hands of that smart contract,
which can liquidate it, that contract to personify it,
it feels safe enough to lend assets out to you.
So you can say, okay, I have $100 that I already had in Wombex.
That's all the money that I had available to it.
But now I can borrow $300 against that without having to remove it.
I'm going to swap that to DAI,
and I'm going to put that then back again into Wombex.
So why do these protocols want to partner with us?
They benefit from this because all of a sudden,
that tool that had a million dollars in it has $4 million in it.
As long as you're a protocol that provides value to the ecosystem,
you want to be integrated into Delta Prime.
So that's the benefit that we bring to these protocols.
And like I said, we also benefit from having these protocols integrated into us
because the more protocols that we can integrate into Delta Prime,
the more use case there is for Delta Prime as a protocol as well.
So it's a mutually beneficial relationship.
And then I'm not even talking about the chain as a whole
because liquidity that would otherwise be stuck in an over-clare-lized protocol
like a Radiant, like an Aave,
now gets unlocked right through under-clare-lization,
gets unlocked, higher capital efficiency,
and it flows into these protocols that actually provide value.
So to a Wombex, to a Camelot, to a GMX, a Trader Joe, et cetera.
It's interesting.
We have had one – it isn't an investor of us,
but you have Jump Crypto, a huge market maker, huge VC.
They've done actually a research report about a year ago,
research report on the lending ecosystem.
They took over-clare-lized protocols, like an Aave.
They took credit-based protocols, like a Goldfinch, for example,
and they took the Prime brokerage kind of protocol,
and they used Delta Prime as an example there.
And they signified something that we very much align ourselves with.
It signified with where for a –
where – that for a protocol like ours, a Prime brokerage,
we scale with the partnerships that we can achieve, right?
So we are one of the few,
but there are a couple of protocols
that are in some way similar to us out there.
This is why we focus so much on our partnerships
because that is how we scale.
That's how we improve Delta Prime as a whole, right?
You can create more complicated strategies.
You can create more diversified strategies,
hedging strategies, Delta neutral strategies,
Delta mitigating, or completely changing up your exposure
the more different protocols we have integrated into Delta Prime.
So that's why we focus this much on partnerships.
Nice. Yeah, I see it.
That's something very, very important, as you say,
as you mentioned.
I'm wondering what other kind of protocols can Delta Prime integrate?
You already mentioned some DEXs, decentralized exchanges,
like GMX, but what other protocols can be integrated?
For us, we can integrate essentially any protocol
as long as it's liquid and safe.
And when I say liquid,
I mean we have to be able to withdraw whenever.
It can't be locked for a certain amount of time
because we need to liquidate positions sometimes, right?
Which means a smart contract always needs access to that liquidity.
Then the protocols that we integrate,
they also go through a rigorous security process.
And because, so we look at a bunch of things,
like audits, time lock, multi-sig.
If the team is not DEXs to the public,
we ask them to DEXs to us,
especially if it's a smaller protocol.
And that's all confidential, obviously,
but adding all of this together
makes it more secure
to get integrated into Delta Prime as soon.
And like I said at the beginning,
Camille is very strong on this, right?
There are exploits happening all around the place.
So for us, security,
especially with the protocols that we integrate,
is top-notch.
So that's what's it mainly for us.
Oh, and there's one type of protocol
that we don't integrate
or that we haven't yet found a good way to solve that
is we don't do leverage on leverage, right?
We design the,
we call it the borrowing power in Delta Prime.
In general, there's a max borrowing power of 5x,
which means that if you deposit $100,
you can borrow up to $5
or you will be liquidated
if you have a total value of $500 borrowed.
So if you take a GMX, for example,
what we integrate from them,
the side that we partner on
is the liquidity providing side, right?
With a level finance, for example,
it's the same thing.
So we don't do leverage on leverage.
Maybe in the future,
we will be able to do this in a secure way.
And if we can,
then we will be the first to integrate that as well.
But that's in short,
how our thinking process with protocols go.
And lastly,
what we also obviously want
in order not to overclutter the Delta Prime as well
is that there are,
that it's actually yielding something
and that there is a community behind it.
So the more popular protocols,
like that we see there's demand for this protocol,
people want this to be integrated into Delta Prime.
That's something that we also take into account.
But first of all, security.
Nice, nice, nice, nice.
Thank you for sharing that.
Yeah, you, Alshur mentioned a lot of things
that are like coming from Delta Prime,
I guess, in the future.
So yeah, cool.
Very, very excited to see that soon.
And well, for people that are just joining the AMA,
I just want to share a quick recap.
We are with Delta Prime.
They are a decentralized borrowing
and investing ecosystem.
And yeah, so we are talking with them.
And right now they,
I would like to ask you,
how does Delta Prime benefit
the Arbitrum ecosystem in general?
Like, let's say for the community specifically,
like what happens if someone in the community
is like a sophisticated trader,
but also we have a lot of people in the community
that are beginner,
are just like beginner DeFi users.
So how is Delta Prime benefiting them?
You mean whether it's mainly for beginner users
or how beginner users like benefit differently
from more sophisticated users?
Like the way that we target that?
Is that what you mean?
Yeah.
Well, in general,
like how does Delta Prime benefit
the Arbitrum ecosystem?
And seeing this in the point of view
from a sophisticated trader
or also for someone that is just a beginner.
Right.
Yeah.
So yeah,
quite frankly,
Delta Prime is very much focused on freedom,
which is,
sounds quite ironic
given that there is a walled garden, right?
There is a certain selection of protocols
that you can use Delta Prime for.
But within that selection of protocols,
they're through the borrowing system,
the underclarealized borrowing,
you can create a whole set of strategies
that weren't able before.
So a sophisticated trader or investor,
they can benefit from Delta Prime.
For example,
I think I mentioned it before,
like through like one of the hedge funds
that's using Delta Prime,
they're using it in a more sophisticated way.
They are doing their own calculations to the side.
When to rebalance certain strategies
and they tailor that specifically
to this type of protocol
because quite frankly,
it wasn't here before, right?
So there's a lot of uncovered territory there.
So as a sophisticated trader or investor,
Delta Prime is like a haven of exploration,
so I'd say.
As a beginner user,
Delta Prime might at the start
be a little bit daunting
in the sense
that it does give you a bunch of freedom,
meaning that it also gives you freedom
to make mistakes.
The way that we tried to cover that,
there's a couple of ways.
One of which is we recently,
very recently,
started creating zaps.
And right now,
we only have a long zap and a short zap,
but these will also include certain,
for example,
Delta neutral strategies.
The idea is that
with the click of a button,
you're able to create a preset strategy.
So you don't have to design
your own strategy necessarily.
That's the main way that we're doing it.
And I would say like
our documentation is extremely exhaustive
in the sense
that there's a lot of information there.
If you want to read through all of it,
it will take you some time,
but you also learn a lot, right?
So as a beginning DeFi user,
that's also something
that we focus on a lot,
maybe because we are
quite unique
in our protocol.
Yeah, so those are the main ways
that you can either benefit
from Delta Prime
as a sophisticated user
or as a beginner.
It's good to see
that you are creating
a more inclusive atmosphere here
with different products
for different type of users
and with your guides
or your content
that is in Delta Prime website.
That's very cool.
Well, I want to highlight
that for sure Delta Prime
is on Arbitrum.
So I would like to know
why did you choose
to expand to Arbitrum?
Well, quite frankly,
Arbitrum has been rocking it
like the past year, right?
It's been going really well.
And as I mentioned before,
like for us,
it is when we look
at protocols to integrate
and to partner up with,
we look for liquid protocols.
So from a BD perspective,
Arbitrum is like
the perfect place.
There's a lot of liquidity
and a lot of,
especially also for like
newer types of protocols,
right?
Like yield trading protocols,
for example,
because you have
all these protocols
on Arbitrum,
which are also
very much focused on security.
We've done a couple of AMAs
with some of our partners.
And this is like
a question that we always ask,
what their security standards are
for everyone to know about that.
Given the high level of security
plus the liquidity that's there,
we are able to integrate
way more protocols
than we were able
to integrate so far.
And that's something
that will build Delta Prime
into a more valuable
protocol on its own.
Like I mentioned before,
Delta Prime exists
by the grace
of these other protocols.
The more partners we have,
the more different types
of strategies you can create.
So that for us
was a major,
a major reason
to expand
into the Arbitrum ecosystem.
At the end of the day,
we want to be
everywhere really.
We believe that
there's a lot of
trapped liquidity
across all chains.
On Arbitrum,
you have both Aave
and you have Radiant,
which trap a lot of liquidity,
keep it idle in these pools.
So that makes it for us
like a very natural
second choice,
yeah,
next choice to move to.
Eventually,
we want to be everywhere.
Cool.
Yeah.
Thank you for sharing this.
for sure.
We are very excited
to have Delta Prime
in our home
in building
the Arbitrum ecosystem
and you have to
be there
for the community
who wants
to try
some,
some,
yeah,
to start
to start
like doing
some
interactions
with DeFi,
for example,
or Delta Prime.
So cool.
Very cool.
And I'm wondering
as well,
how do you decide
which assets
and which protocols
to list?
So the protocol listing
is like,
like I just described,
is mainly focused
on security,
but there's also,
it's also based
on demand.
For assets,
it's,
yeah,
it's kind of the same.
Like it needs
to be liquid.
In a sense,
the most important thing
is that we need
to be safely,
to be able
to safely liquidate
positions.
So there needs
to be enough
liquidity in the market
to do that.
We look at
volatility of the asset,
we look at total liquidity
and if for whatever reason
this is restricted,
so let's say
there's not that much
liquidity in the market,
then we do have
the opportunity
to set a global cap
on a certain asset.
We've done it before
with some of the assets
that we have on,
we call it
Delta Prime Red
on Avalanche
and on Delta Prime Blue
we will have that
with all assets as well.
There will be
a global cap
on every asset
and that is to
make sure
that we can always
liquidate positions.
That being said,
we are,
we're not like
maxis
on any specific asset.
It's not like
or it's not like
we want USDC
more than USDT
so we will only
list USDC.
We will list
every single asset
that's liquid
that's safe
and the same
goes for protocols.
Yeah, cool.
I see, yeah,
at the end
what the community
would like to see,
right?
Like you're listening
a lot to the community
to see what they want
and you are
adding it
to Delta Prime
so yeah,
nice,
nice,
nice to hear
and when,
when I asked you
like why did you
choose to expand
to Arbitrum
you mentioned
because of high
level of security
so right now
security is
very important
it's super important
than ever
like in DeFi
and the WebTree
ecosystem
and like
in all the
ecosystems
in general
so what efforts
do you take
to prevent
exploits
anything
related
to this
we have
we have a lot
I would highly
recommend
like going to
our docs
docs.delta prime.io
to see the full list
you go to security
you see like
15 different measures
I think
like ones
that
I want to
highlight
withdrawal
let's start
with Oracle
let's start with Oracle
first of all
we use an Oracle
for price data
feeds
and for the pricing
of the Delta Prime
assets
in order when
to liquidate them
that Oracle
it takes
multiple different
price data sources
across
sexes
across
DEXes
and when I
mentioned earlier
like we look
at the
total liquidity
of an asset
we don't only
look at
hey how much
will the slippage
when we have
to liquidate
this asset
we also look
okay how much
liquidity
is there
on a
Binance
for example
on other
sexes
and how many
price data
sources
do we have
in doing so
you prevent
very
traditional
at this point
I can say
fleshloan attack
right
where you manipulate
the price
of an asset
or Oracle
attack
where you
manipulate
the price
of an asset
on a specific
and use
that to
borrow a bunch
of UC
or a bunch
of stables
and make
the protocol
think that
that's worth
nothing for
example
or that the
other token
that you put
as collateral
is worth
a billion dollars
so I think
that's a very
important part
of our security
we don't play
our own Oracle
like some
others do
but we have
like an Oracle
which does that
for us
another part
and this is
something that
makes us truly
unique because
there are no
other protocols
out there
which do that
we call it
the withdrawal
guard
and essentially
that means
that in order
to withdraw
any value
out of your
prime account
which is this
escrow smart
contract
you will need
to have the
assets that you
borrowed
in your prime
account as well
and I'm not
talking about
the value
of the asset
so it's not
that if you
have
if you have
one ETH
and you
have
if you have
one ETH
borrowed
but you swap
that to
USDC
that you can
now withdraw
the USDC
because
you still have
enough
other assets
available
not ETH
to cover that
it doesn't look
as is it able
to cover it
it just looks
okay you have
borrowed one ETH
in order to
withdraw anything
you need to have
in your prime
account
in a smart
contract
there needs
to be one ETH
the reason
that we do
that is that
even if
again there's
a whole list
of safety features
that we have
to prevent
price manipulation
but even if
somehow you
go around
all of that
you trick
our Oracle
into thinking
that one ETH
is actually
worth a million
dollars
or that it's
actually worth
zero dollars
it will not
allow you to
withdraw any
illicit funds
from the protocol
why because
you need to
always be able
to cover
the assets
one to one
if you have
borrowed one ETH
there needs to be
one ETH
in the smart
contract
after your
transaction
and that's
something that
a lot of
well again
we don't have
many competitors
but the ones
that we do
have
they don't
have that
and I think
it's absolutely
crucial
because even
though we have
a bunch of
safety features
you never know
right
they're like
exploiters
they become
smarter by the
this will
just ensure
that this
type of
price manipulation
that you won't
benefit from
price manipulation
in this way
so those are
the ones
that I want
to highlight
cool
thank you
Gavin
I see
there's
there's
many
many
many things
that you
are preventing
there
yeah
someone
wants to
take a look
the other
things
that Delta
Prime
is doing
to improve
security
you can
to their
website
Gavin
said
cool
cool
I also
saw that
there's
liquidity
mining
program
can you
share
more about
Gavin
please
yeah
definitely
right now
everything that
we've done
we've been
live now
like the
crosschains
seven months
and we've
done so
without any
liquidity
mining
this was
purely
real
yield
borrowers
paid
interest
interest
that
went
postures
right
both
pools
Delta
Prime
as well
Delta
Prime
Blue
we're
indeed
doing
liquidity
mining
event
and the
main
reason
that
because
want
bootstrap
enough
liquidity
liquidity
pools
mainly
Arbitrum
order
make
borrows
happen
without
significantly
changing
interest
rate
haven't
shared
a lot
about
tokenomics
that's
going
come
about
months
what
you'll
earning
Prime
give
indication
what
Prime
will
will
token
between
Prime
which
native
token
Delta
Prime
another
asset
which
stable
coin
stable
main
currency
within
Delta
Prime
ecosystem
imagine
Delta
Prime
because
it's
prime
brokerage
kind
system
there
ways
eventually
monetize
this
will
that
will
that
that
token
this
token
earn
right
even
though
there's
real
yield
Arbitrum
side
because
just
prime
token
right
been
super
successful
by the
right
have
about
million
dollars
liquidity
pools
that
borrowers
borrow
from
right
borrow
interest
rate
which
pretty
crazy
especially
given
that
again
if you
have
example
what
have
USDC
pool
Trader Joe
which
yields
should
check
let's
yields
right
and you
borrow
at 0%
and you
can use
that
that
pool
it's
that
that's
literally
free
money
of course
there's
risks
with
everything
so let
that
disclaimer
immediately
as well
from
a pure
financial
perspective
it kind
of makes
sense
from my
point
of view
yeah
and that
comes
from this
liquidity
mining
event
that we've
been doing
we've
been doing
right
a couple
days
and we're
going to
run it
until
further
notice
but like I
said it has
been very
successful
so far
yeah
so we're
really happy
with it
nice
those are
great numbers
and I just
saw that
you just
launched it
right
like 20
days ago
or so
it's
pretty
pretty
recent
yeah
yeah
so we
launched
initial
launch
was on
September
maybe
it's
good
mention
that
as well
so we
were
planning
to launch
prime
accounts
on the
September
now in
everything
that we
we put
sustainability
first
so that's
why we
didn't do a
liquidity
mining event
Avalanche
we didn't
need it
back then
we had
very high
ambitions
for this
so that's
why we
did it
right now
we didn't
do any
partnership
deals
like we
back then
so when
we started
our first
version of
this liquidity
mining event
it didn't
gain the
traction that
we initially
anticipated
so we
extended
actually the
launch of
the prime
accounts
which meant
that you
could already
put liquidity
into the
liquidity pools
of Delta
Prime but you
weren't able to
borrow yet and
to use it
that's only
possible since
yesterday so
that's very
very new
very very
fresh
so indeed
while the
liquidity pools
have been
open for a
while and
people have
been silently
farming in
the beginning
10% right
now it's
20% for
both USDC
and for
ARP sorry
for both
USDC and
for Red
Thief but
soon like
yeah as
soon as
like real
yields start
kicking and
like I said
like there
are already
a bunch of
strategies that
you can use
right now
with the
limited amount
of options
that we
offer and
that will be
greatly expanded
in the next
couple of
weeks so
that number
one will go
fantastic
great great
insights there
nice nice
and so
with this
with this
said as
well like
how do you
see Delta
Prime
expanding
in the
upcoming
weeks
yeah so
there are
a couple
of to
start with
we did
like two
major new
integrations
yesterday on
both Delta
Prime Red
and Delta
Prime Blue
one of
which was
trading
fuel
so we
just
integrated
trading
fuel
into Delta
Prime
which means
that you
can draw
lines
right now
they're not
persistent
they will
be persistent
very soon
unless
something
unless that's
not possible
I just
asked that
to who's
working on
that I
assume that
it's possible
so you have
like persistent
lines you can
draw your own
lines you can
do your
technical
analysis as a
trader on
Delta
Prime so
that's one
second
is we have
liquidity book
integrated from
Trader Joe
and Trader Joe
has been a
partner like
straight from
the beginning
and while we
were already
working with
them through
StakeCut which
is like a
money manager
of sorts
right now you
can create
your own
shape your own
liquidity book
shape directly
on Delta
Prime so
that's something
that's available
since yesterday
for margin
market making
things that
are coming
up something
I'm really
really excited
about and
I'm pretty
sure that
that will be
the first
integration as
well will
be level
finance it's
one of our
partners on
Arbitrum they
have a
trenching
mechanism which
essentially means
that they
work a little
bit like like
GMX right
like perpetual
derivatives
exchange where
GMX has
GLP but
level finance
they have
level and
they allow
you to
provide liquidity
but to
also choose
how much
exposure you
want to
the to
the pools
so for
example that
they have a
senior trench
and if you
provide liquidity
to that senior
trench not only
do you only
have exposure
on BTC
ETH UCC
and UCDT
but you also
have a little
bit like less
of your funds
are being used
on within
within level
finance but we
can also
integrate
the junior
trench so we
do look at
security like
that's the
main thing on
Delta Prime
and the junior
trench is secure
enough for us
to integrate as
well so we
will integrate the
junior trench on
Delta Prime
which allows you
to have an
LP token like
like again like
GLP but with
those four assets
that I just
mentioned plus
ARP and it
has yielded or
it's still yielding
like really really
well plus I
mentioned this
before but GLP
has been extremely
successful on
Delta Prime
because of its
hatching purposes
and you can do
the exact same
thing with
level ARP is
one of the
tokens that
will soon be
borrowable on
Delta Prime
BTC will soon
be borrowable on
Delta Prime
and if it's
borable that
means that you
can hatch it
as well
right so that's
something that I'm
really excited
about high yield
plus a hatching
opportunity so
very little
price risk is
something I get
excited about
but quite
frankly like
there's one of
our other
partners if I
look at I
think I mentioned
before like
Wombex they
allow you to
do single
sided liquidity
providing of
wrapped stake
ETH that's an
asset that we
have as well
and you can do
just carry
trades on that
right borrow
ETH swap
wrapped ETH swap
that for wrapped
stake ETH and
put that in
that's something I
get excited about
we're talking with
Pendle right now
we have Pempi
already that we're
also working on
on the integration
so there's a lot
that's coming up
yeah I think
those are the
most those are
the most exciting
things for me
and then we have
a couple of
partners which we
haven't announced
yet we actually
didn't announce
all our partners
yet contrary to
what we did last
year so the
biggest ones
they are still
to be announced
and that will
happen as we
get closer to
integration
a bunch of
exciting stuff
coming up
wow Gavin
you gave us a
lot of
alpha here
and yay
a lot of
things to
to be aware
of to
to keep posted
on Delta
Prime
X account
so cool
it's very
exciting to
see that
congratulations
on your
growth and
that you are
I see that
you are
putting a lot
of effort
here to
make a lot
of partnerships
give better
products for
for the
community
so yeah
very very
cool to
see this
and yeah
we are
about to
finish this
AMA but
wondering if
there's something
else that you
would like to
share to the
community
maybe I'm
wondering as
well like
how can the
community be
part of
Delta Prime
community like
it's only
by joining
the X
account and
also joining
your website
or wondering
if there's
a discord
account or
something
yeah we
have we
have any
discord
we have a
bunch of
different like
channels
we have our
medium in
which we share
articles mainly
when something
new is going
to come out
we have our
discord in
which we do
announcements of
everything that's
happening you
can find it all
if you go to
delta prime
dot io or
if you click
my logo right
here and you
click on my
logo again what
do we have
here we have
linktree linktree
slash delta
prime press
that and you
find everything
so that's how
you can join
the community
if you are
if you go to
delta prime and
you do launch
app and you
are a little bit
overwhelmed by
what's happening
but you don't
want to use
any of the
preset strategies
which again right
now is only
leverage long and
leverage short
you want to
create your own
strategy but
you don't know
how there are
I would I
would recommend
just jump into
our discord
it's a very
friendly very
friendly surroundings
thanks to
liver at
defi god like
our moderators
they're doing an
amazing job in
that they're
always available
and they they're
extremely helpful
so together with
the rest of our
community feel free
to just jump in
ask questions
and really there
are there are no
stupid questions I
know they say that
always and it's it's
a little bit of a
cliche but there
really are no
stupid questions
especially given
that Delta Prime
is a very new
protocol like we've
been around for
for a while now
we've been building
this for two years
so we've been
building this for a
while but for a
lot of users
they're not familiar
with the way that
this all works so
definitely just jump
in and ask your
questions absolutely
and and one more
thing that I want
to share before
you before you
close the AMA
is I think that
they're like so
right now like I
said Delta Prime
will expand
significantly in the
coming weeks right
I mentioned a bunch
of protocols already
that are confirmed
to be integrated
and there's a lot
that I didn't
that I didn't say
but with the
protocols that we
have right now
especially if you
look at concentrated
liquidity providing
that is some that's
like an opportunity
that wasn't
available before
and that can
already be good
as well right
if you let me
see if I have
some numbers
here on what
Trader Joe is
doing yeah so
if you take for
example like the
ECUSDC pool I
see so yeah so
the APR of the
past seven days
has been 40%
40% now a
thing with
concentrated
liquidity
providing with
liquidity providing
in general but
definitely concentrated
liquidity providing
and that's
something that's
good to mention
as well because
it's important to
know the risk is
that there is
impermanent loss
right that
impermanent loss
gets amplified
with concentrated
liquidity providing
because well you're
concentrating your
liquidity surrounding
the current price
that being said
as long as you
if you don't
rebalance your
position if you
don't know what
it is perfect
then you're not
doing it so if
you don't rebalance
your position and
you get out when
ETH has the same
price as when you
got in then you
have no impermanent
loss obviously
there's risk because
you don't know for
sure what ETH is
going to do in the
future
but if you take a
look at ETH over
the past seven
months it has
hit this price for
about seven times
again doesn't mean
that it will do
that in the future
but that that is a
way that you can
look at it and if
you do want to
collateralize your
positions on
delta prime while
having a leverage
concentrated liquidity
position as well
one way to do that
since it's all fully
cross margin is by
depositing a stable
coin or a couple
of or multiple
stable points stable
coins you can use it
in the exact same
way that you're
already using it so
for example with a
yield check or with
a trader joe already
with the USDC
die pool and in
doing so you can
increase your you
can decrease the
point at which
liquidation happens
I understand if
you're new to this
it is complicated it
is a lot again
please jump into our
discord ask any
question that you
have we're very
very happy to have
you thank you
cool thank you
many to be honest
many many features
you can do on
delta prime and
and cool that you
have a discord for
the people on the
community to ask
questions and get
um yeah get receive
help from from you
and from from the
users so so yeah
very very cool well
thank you so much
for joining us today
it was a pleasure to
be talking to you
and getting to
know more about
delta prime and
we are going to
keep posted on the
new things that
you're bringing to
the ecosystem and
to the arbinauts to
the community in
general so so yeah
very exciting to see
and and thank you
see you in our
next AMA and by
the way in seven
minutes we have an
AMA with the
arbitrum DAO about
the gitcoin round
that is happening
right now and about
grants in general the
ones that they are
organizing so if you
want to hear more
about it you can you
can you can join
again in seven
minutes for a new
AMA so cool thank
you so much and have
a cool Thursday
awesome thanks for
having me bye
Host
DeltaPrime🔺
from
DeltaPrime
