TL;DR to bootstrap Limbo, Flan will need to target the DAI price instead of a synthetic LP; Flan liquidity will be seeded on more than one external AMM.

The previous dev update was the first in a two part series on the upcoming economics of Limbo, starting with the Flan Genesis event. Since then, local simulations have yielded some interesting implications for the migration and pricing of Flan. Before getting to that, it’s worth highlighting the salient points for discussion from the previous update:


“I think everyone would feel better if we had some flan.” — Ross Geller

Limbo is the upcoming yield farming dapp created with the prime intention of raising liquidity for tokens to be traded on Behodler. A motivation for Limbo can be found here.

This is the third instalment in a series of dev updates surrounding Limbo. See part 1 and part 2.

Sustainable yield farming

Yield farming and reward staking in general can be implemented in one of two ways: the inflation model or the closed loop model. The inflation model involves an ongoing giveaway of protocol tokens as an incentive to stake another desired token such as a liquidity pool (LP) token. This can be…


Dear WeiDai community,

It is with deep regret and sadness that I must confirm an exploit has occurred on the WeiDai protocol and that I want to apologize with utmost sincerity to all those affected. My hope for this article is to bring clarity and explain the possible ways of recapitalizing WeiDai in the longer term. Since it’s launch in November 2019, through bull and bear markets, WeiDai has achieved a consistent APY of about 30% without reliance on inflationary incentives, credit or false hype but purely through the tokenomics of burning. …


Building Defi’s first sustainable, community configured farming dapp

A big thank you to Florian Pieper for being the mathematical genius we need.

Introduction

The primary purpose of Limbo will be to provide a way to liquidity mine new token listings onto Behodler. On a traditional token-pair AMM there is no minimum requirement for initial liquidity addition but the tokens must be added in correct proportions if the creator of the pair doesn’t wish to see a large and immediate impermanent loss. For instance, if the price of Eth is 2000 Dai then the pair should be seeded in that proportion. …


Proposal for a liquidity mining fund vote on Snapshot

Introduction

Behodler is currently in an exciting phase of building with feverish levels of work being done on both Limbo and the new UI.

In the lead up to this bright new era, we have an opportunity to invigorate the EYE market, raise liquidity, and create intrinsic marketing buzz by spreading out tentacles to a very popular DeFi platform, Pooltogether. This will bring new attention to Behodler at a very low cost, with no dev work required. This article provides the backdrop and then explains the proposal.

The Behodler Way


On April 29th, I released an article explaining the need for a token bonding curve preseeding event for tokens about to be listed on Behodler. The article ended with a high level explanation of a token listing liquidity mining dapp code named Morta. Since then, the Behodler community enthusiastically participated in a name vote and the upcoming dapp is now known as Limbo. This article is the first of a series of development updates on Limbo, exploring the challenges in building out such a novel dapp as they’re encountered and solved.

Limbo can be divided into three main components: the…


An exploration into all possible attack vectors of the novel AMM with a focus on whale clout.

Now that Behodler is about to launch a new form of perpetual liquidity mining code named Liquid Queue, it may be prudent to explore the nascent AMM for all possible vulnerabilities before large swathes of new holders arrive, eager to claim their rewards, only to find an AMM vulnerable to attack. To set up the exploration, it’s worth explaining the key mechanics under the hood so that our minds can foment criticisms in the form of attack vectors as our collective internal mental models of Behodler take shape.

This article lays groundwork upfront which may come across as unnecessarily verbose…


Lesser known fact: Benjamin Franklin is not smiling in this portrait because he does not approve of having his image associated with fiat currency.

If you hold Scarcity, read this

As per the recent DegenVC announcement, we’re planning to launch Behodler 2 on Friday 19th February. This launch can be considered the equivalent of Behodler coming out of beta: optimized gas consumption, support for exotic token types and flash loans to name a few improvements.

Instead of running Behodler 1 alongside Behodler 2, the choice has been taken to rather migrate all of Behodler 1’s liquidity to Behodler 2. …


Airdrop details at the end

When Behodler.io launched, the next step was to launch a liquidity mining module as a means of bringing in tradeable volumes of new tokens to the ecosystem, starting with DegenVC’s collection. Behodler runs itself without daily intervention but the addition (and possibly removal) of new tokens requires an element of governance. The major trade-off made for a single contract exchange is that it’s more vulnerable to sh*tcoins and rugpulls than Uniswap. Scarcity, as a representation of collective liquidity value also suffers if one of the tokens turns into a dud. Adding a governance layer to add tokens in a fair…


The necessary step before liquidity mining

TL;DR list of features at the end.

Those of you who’ve been following the public roll-out of Behodler closely will know that the November 30th soft deadline for the launch of a new form of Liquidity Mining is fast approaching.

Along the way I’ve had the chance to engage with the community and receive some invaluable feedback. The version of Behodler running on Mainnet is a beta experiment in using linear token bonding curves to create a single-contract automated market maker (AMM). Like the Bronze release of Balancer, Behodler was not primarily intended to be finely tuned or highly optimized…

Justin Goro

Creator of WeiDai and 92 times emperor of Tsuranuanni

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