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

Limbo Dev Update part 1 of 2: The Flan Genesis Event

Sustainable yield farming

  1. The Flan Genesis Event.
  2. How Flan retains its value: compound liquidity and the unlimited APY(numerical examples).
  3. Flan’s price targeting mechanism and new Limbo features (tokenomics).

Genesis Event

  1. Declare the value using Behodler
  2. Provide a support to the declaration using Uniswap and the SCX generated from step 1.
  3. Create a credible mechanism to support the declared price.

Sustainable Flan: APY targeting.

Price Impact

Migration Boost: Price tilting Flan back up to 1 Dai

Compounded Liquidity

Credibility

Choosing the perfect price target: creating a synthetic LP token

Implication of Flan depth: perpetual pools

Coming up

Summary of features added to Limbo since last update:

  1. Exogenous price targeting of Flan (Flan’s monetary policy)
  2. Protocol reward token buyback-and-burn: when a token that earns rewards such as Curve LP is staked, Limbo accumulates Curve rewards. A function exists now that automatically buys Flan with the accumulated Curve and burns the Flan. The person who calls this function receives 1% of the Flan bought. In this way, stakers gain value without requiring any gas intensive compounding strategies. This allows us to tokenize other yield farms and redirect their rewards into Flan. For instance, if we tokenize a staked token on Sushi’s Onsen and then list that token on Limbo, the Sushi rewards will accumulate on Limbo which can then be used to buy and burn Flan.
  3. APY targeting: unlike the ubiquitous Masterchef.sol which allocates a portion of new yield as a percentage of a fixed ongoing supply growth, Limbo allows us to now directly set the minimum APY on a migration pool.
  4. Genesis event preparation.
  5. Altered migration and hardcoded rectangle of fairness (bonus points if you know why the rectangle is hardcoded).
APY target logic

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