Let’s start our Adscendo Weed Journey from stETH Genesis Pool.
We are super bullish on the narrative of LSD and the staking yield it brings.
So, Adscendo will launch stETH leveraged products (3x-6x leverage) and LSD-native stablecoin, aUSD, based on stETH as the cornerstone.
Our Initial Target Users
- lstETH: For those who are bullish on ETH, hope to hold for the long-term on-chain leveraged stETH derivative (3x-6x), avoid funding fees and forced liquidation risks
- aUSD: For those who are looking for leveraged ETH staking yield (1x-5x), while seeking to avoid ETH price volatility.
Where does the leverage come from?
Adscendo splits the price volatility and yield of stETH. aUSD gets all the stETH rebase yield, and lstETH gets all the price exposure of stETH.
In Adscendo, you can always
- Stake 1300 aUSD to get more than 1 stETH rebase yield
- Hold 1 lstETH to get the price exposure of 1 stETH
Genesis stETH Pool
You can enjoy,
- Getting 1 ETH staking yield with the cost of $1300
- Buying 1 stETH price increase with the cost of $500
Assuming the ETH price is $1800.
How does it work?
We will split stETH into aUSD and lstETH, where:
Assuming the ETH price is $1800.
- aUSD absorbs 0% of the price volatility of stETH and gets 100% ETH staking yield (aUSD holders use $1300 to enjoy the staking yield of $1800).
- l-stETH absorbs 100% of the price volatility of stETH and gets 0% staking yield (lstETH holders use $500 to enjoy the price increase part of $1800, 3.6x).
The value formula of l-stETH
What’s the stETH Genesis Pool’s role in our system?
We aim to have stETH Pool support the generation of more aUSD, serving as the cornerstone of the entire Adscendo system. It is difficult for the price of ETH to drop below $1300, aUSD and lstETH in stETH Genesis Pool can be “buy and forget”, without worrying about liquidation and expiration risks.
In the future, we will integrate more yield-bearing assets and split their yield and price volatility.
$ADO early incentive
Meanwhile, Adscendo will use $ADO to incentivize early liquidity contributors.
Adscendo will become the largest bullish protocol on stETHÐ and the light-speed engine for the price increase of ETH/stETH.
Adscendo is long stETH and ETH to be successful.
More info: https://docs.adscendo.xyz/
