Strategic Update for October: Project Quasar, Concentrated Liquidity & More

Albtober is coming soon, we’re ready to offer a few more sneak peeks of what’s coming next from our Mothership.

We’ve achieved a lot in less than 2 months since we launched on Base Chain. Attracted millions in TVL, incubated multiple projects and created one of the nicest and most user friendly platforms on Base (but still not even close to what Alien Base will become).

Most importantly, we’ve built one of the strongest communities in the ecosystem.

Our custom Sub-DEX launchpad, Area 51, has had a successful launch over the past few weeks, attracting several quality projects who have received support from the Aliens, including the community and the team. From here on, we’ll continue building on this success to spawn the next 100000x Alien-bred gem.

September has also been, sadly, a bit of a letdown in terms of activity. The entire Base ecosystem has cooled off, and that included Alien Base. But even if humans may have their bullish and bearish periods, we Aliens are here to stay.

With that out of the way, here’s a preview of what’s going to happen in October and beyond:

Alien Predictions

Predictions are coming next week in the first few days of October. They’re a way to do leveraged trading with a binary outcome: either you make it big, or you lose your entire deposit.

Soon enough you will be able to make long and short bets on ETH price on Area 51. Here’s how it works:

• Every 30 minutes, a new round of betting begins.
• Deposits are accepted in the 30 minutes prior to its start, while the previous round is still ongoing.
• After the deposit period is up, the round is locked, meaning that the current Oracle price is locked in as the starting point.
• After 30 minutes, the round is complete. If the price closes above the start price, bulls take all of the bears’ money. If it closes below, bears win and take the bulls’ deposits.

Alien Predictions are a Beta. The contracts were forked from Pancake with no changes, but with slightly different parameters to account for different Chainlink Price Feed settings on Base. There may be price imprecisions due to how oracle updates are submitted, so be aware of this risk. The interface will always show the current oracle price and the multipliers for entering either longs or shorts.

Over time, the product will evolve to have more assets, more lock timeframes and more interesting features to turn it into a proper Binary Options platform.

The revenue from Predictions (2% of volume) will be channeled into ALB staking, just like with the fees from the Area 51 DEX.

Lottery

One-two weeks after Predictions, the Lottery will launch. Here, you will be able to buy tickets and guess lucky numbers to receive a portion of the shared prize pool.

Tickets will be purchasable with ETH, with payouts in ETH as well. And just as before, revenue from the platform will be streamed to ALB stakers. Before launch, we’ll also be running a special promotion for the ALB community.

More information on Lottery will be released as we get closer to launch — stay tuned for updates on our Twitter and community channels.

Perpetuals and esALB

By the end of October, we’re expecting to release Alien Perpetuals based on GMX. This will enable users to trade futures on assets like ETH, Bitcoin, Optimism (OP) and others.

With Perpetuals, we will also begin the transition to an escrowed model for ALB. This will mean that part of the rewards will be given as partially locked tokens: esALB will be usable for compounding and receiving platform fees, but to sell it, it will need to be vested over a period of 1 month.

We chose to have a gentler release schedule compared to existing implementations to ensure that the token can be used for future growth. The tractor beam needs to be strong to pull in the future Aliens.

The transition from the current rewards and tokenomics will be smooth: first with Perpetuals only, and then we will begin migrating existing farms to a combined ALB + esALB reward scheme.

Concentrated Liquidity on Alien Base

While we work on the Nebula project, expected for 2024, an initial implementation of concentrated liquidity based on Uniswap V3 will go live in November.

This will help attract liquidity on blue chip assets, for which the basic V2 formula is extremely limiting. Pools with V3 will be incentivized through specialized wrappers, allowing Aliens to provide liquidity passively without worrying about the extra impermanent loss from concentrating liquidity.

Project Quasar

We’ve decided to bring another new technology from the Mothership that’s never been seen before. Project Quasar will allow users to trade and go long on impermanent loss, making money from the volatility of the market.

In parallel, LPs will be able to get leverage on their positions and earn extra yield from impermanent loss buyers. This should dramatically increase the “natural” yield of Alien Base pools, while creating a new interesting tool for Earthly degens.

Quasar is designed to be extremely simple, without oracles or complex interest rate models. Because of these guarantees, it can enable liquidation-free (but time-limited) leverage similar to options.

The timeline for release is yet TBA, but we expect it to be done faster than Nebula, late in 2023 or early 2024 (pending audits and deep review).