Carbon Beta Release Community Update #1 (May 31, 2023)
In this update we’ll cover:
- Carbon Beta Stats
- DEX Aggregator Integrations
- Carbon Takers
- Incentivized Tasks
- Development Priorities
- Community & Content
Carbon Beta Network Stats
Carbon was released in beta on Mainnet on April 20th, along with the carbondefi.xyz app. As of this writing, we’ve seen over 135 strategies created and over $129,000 in total trade volume!
Strategies have been created on 50+ trading pairs, including ETH/USDC, WBTC/ETH, rETH/ETH, CRV/USDC and more! Carbon analytics can be monitored here: https://analytics.carbondefi.xyz/
DEX Aggregator Integration: OpenOcean
The first DEX aggregator integration with Carbon has gone live! OpenOcean boasts over 850,000 active users who can now use Carbon liquidity for their trades. Already the first trades from OpenOcean are flowing in.
Carbon Takers
The community’s current focus is on ensuring efficient and timely execution of live strategies when they move “into the money”, and significant progress has been made on this front.
As a refresher, Carbon strategies are composed of limit and range orders that exist as maker liquidity. They therefore require the involvement of “takers” (spot traders) to be executed. Takers can be users who trade directly on app.carbondefi.xyz/trade, via the SDK, through DEX aggregators, or as arbitrageurs.
Various initiatives are underway aimed at expanding Carbon’s taker ecosystem, including:
- Awareness of Carbon’s spot-trading offering — in some cases if a user’s strategy has moved into the money and is yet to be executed, it means Carbon is potentially offering the best rates for spot trading the paired assets.
- Carbon integrations — in addition to OpenOcean, various DEX aggregators are in the process of integrating Carbon, which will enable Carbon strategies to be used to fill spot trading requests that originate from DEX aggregators.
- Enhancement of Carbon’s arbitrage framework — allowing for more users to perform profitable arbitrage between Carbon and external onchain exchanges.
In recent weeks, Carbon’s arbitrage framework has achieved wider coverage of token pairs as well as more efficient and sophisticated arbitrage trades. The arbitrage framework is now covering over 97% of live token pairs, and recently enabled one of its first triangular arbitrage trades, executing a live HEX/ETH strategy and facilitating the largest single BNT burn to date (Etherscan transaction).
Incentivized Tasks
The first incentivized tasks on Carbon were released last week. Users can now win USDC prizes for creating Carbon strategies.
How it works:
- Complete any of the 5 incentivized tasks on carbondefi.xyz
- Go to: dappback.com/carbon
- Click the “claim” button next to any of the tasks you’ve completed
- The more tasks you complete, the more $USDC you can win!
This is the first competition designed to give users a warm welcome to the wonders of automated range trading with Carbon.
Development Priorities
The following development priorities are being worked on in parallel:
- Arbitrage framework development — continued enhancements to the open-source arbitrage framework to facilitate efficient strategy execution.
- Integrations tooling — developing various tools and frameworks to make integrating with Carbon as easy as possible, including continued development of the Carbon SDK and the Carbon Subgraph.
- ROI stats — expose historical data on user strategies, including ROI per position and an ROI leaderboard.
- Carbondefi.xyz app enhancements — continued improvements to the user flow and experience.
Community & Content
Keyrock Governance
Keyrock Trading, a leading digital asset market maker, has expressed their intent to participate in Bancor’s onchain governance and vote on proposals that dictate the future of Carbon.
Valiant Research Covers Carbon!
From the article:
We’ll start with Carbon, which is a new trading protocol from Bancor. The contributors behind both projects have a long history of massive innovation, with Bancor being the first AMM in DeFi, and pioneering major efficiencies like single-sided LPing. With Carbon, they’re bringing an equally disruptive protocol to DeFi by introducing an entirely new liquidity structure called Asymmetric Liquidity. If I’m being honest, the upside potential here is the biggest I’ve seen from a new DEX.
Read the full post Liquidity Management Projects: Part 2
Carbon Explainer Video:
Ultimate Guide to Carbon Strategies:
CryptoValley
Dr. Mark Richardson gave a keynote at this year’s Crypto Valley Conference on the changing liquidity landscape.
Twitter Spaces
- Check out the recording from this week’s Blockchain Banter Twitter Spaces with Mellow Protocol and DefiEdge.
- If you missed last week’s Blockchain Banter Twitter Spaces on Liquid Staking with industry leaders RocketPool and Swell Network you can listen to the recording here.
Other content:
- Step-by-step guide to creating a Carbon strategy (Inforalle)
- Automate your crypto trades on-chain (Crypto Mind)
- Carbon FAQs
Based Threads:
- Backtesting ETH/USDC on Carbon vs. Uni V2 and Uni V3
- The innovations behind Carbon
- Not an AMM, not an order book
- A look at Carbon’s next-gen liquidity
- Carbon technical deep-dive
- How Carbon’s Asymmetric Liquidity model works
Other resources:
To get involved and stay up to date:
- Join the Carbon community on Telegram or Discord
- Follow Carbon on Twitter
- Subscribe to our Youtube
- Subscribe to the Carbon blog
- Participate in BancorDAO governance
