Chronos Has Come.
After months of development, our bootstrapping upgrade, Chronos, is live on mainnet.
Chronos is built on Uniswap v3 and allows for easier, more diverse usage of new strategies.
The first strategy to run on Chronos will be the stETH strategy — powered by Lido. Both Chronos and the stETH strategy will be used to power the upcoming Flido dApp.
So what does this mean for you, our users?
It means you’ve got options. Let’s explore the three classes Chronos introduces:
First up — Flashstakers:
The class of DeFi users that dream big and hear the ticking clock as opportunity zooms by. They have assets sitting around and no intention of waiting for their block… by… block rewards.
Time is of the essence for Flashstakers.
When interfacing with the protocol, they deposit their stETH and receive their instant yield immediately.
If we were to slow down time during this process, we would see under the hood that upon receiving stETH, the protocol minted fTokens (fstETH in this case). Thanks to our pal Chronos, the protocol swapped them for stETH via Uniswap v3 to pay the Flashstakers their upfront reward.
What if Flashstakers choose not to swap these fTokens, and instead hold onto them?
Yield Recon’s always ready.
Tactical, calculating, and born with a higher tolerance for risk.
Yield Recon utilizes the Advanced section of the dApp and chooses to holster their fTokens. By doing so, they forego their instant upfront yield and are instead rewarded with the potential for those fTokens to increase in value with the market.
How is this possible?
Let’s say Lido interest rates were at 5% when Yield Recon chose to hold onto their fTokens. Three months later, the market picks up again — interest rates are at 10%. The fTokens that have been safely living in the wallets of Yield Recon are now worth double vs. if they had chosen the path of the Flashstakers.
Conversely, if the tide turns against the speculations of Yield Recon and interest rates go down to 2.5%, they would lose half the value of their fstETH.
So what if you didn’t want to have as much exposure to interest rate volatility but still wanted to be rewarded for keeping the system running?
Enter Stasis Team:
Its members reinforce the backbone of the Flashstake ecosystem built on Chronos.
Stasis Team provides fToken liquidity and earns 1% of Uniswap v3 trading fees on the strategy’s pair. That means every time a Flashstaker interacts with that strategy, Stasis Team receives a piece of the rewards.
Additionally, they can take their LP tokens, stake them via xToken Terminal, and receive a daily share of FLASH tokens via Liquidity Mining.
There will be 105,000 FLASH tokens reserved for the first round of Liquidity Mining, lasting 21 days, with two additional planned rounds to follow.
5,000 FLASH will be split amongst all active Stasis Team members daily. Rewards are doled out block by block to all participating via xToken Terminal.
Stasis Team provides the foundation for each strategy to grow from, eventually achieving self-sufficiency through the flywheel effect.
The more active participants in the Stasis Team, the more instant upfront yield is available for new Flashstakers, the more TVL grows, and the promise of Flashstake reverberates throughout the DeFi world.
Welcome to the world of Chronos.
Flido is a Flashstake dApp curated for the Lido community set to launch in mid-February. Legend has it there will be double-digit interest rates available for a limited time.
Before then, come put your stETH to work on Flashstake! Stay on the lookout for exclusive alpha and bonus interest rate opportunities for the Flashstake community by joining our Discord and following our Twitter!
