[the story continues…] Leverage Ninja’s: must Look Up Again!
We must, like we always do, tell you that if you are here for bigbrain stuff, turn away. This was written by someone with 2 braincells, one named “disappointment” and one named “dismay”. Our journey’s been through a month of unveils, alpha and the glimpse of a new DeFi primitive. But it’s only a lore today… If you want to see product-related stuff, and just catch up with the latest DAO work: check the Notion board.
The past month..
In manners only Sensei could have predicted, the mystery of the box in the sky started to unveil — giving us clues to figure out where our Sensei had gone, and what Leverage Ninjas are. You can read the previous lore here.
Leverage Ninjas turned out to be the guiding light! The are the ones who lead the path for the protocol and the ones who take us to the island of V2 where our sensei and high yield on bluechip projects exist. In order to do so and to cross the cloud between the V1 and the V2 island, Leverage Ninjas received gifts from the box that made them stronger.
The first set of gifts enabled Lev Ninjas to power up and add features that will considerably improve the performance of the protocol once V2 is rolled out. The 3 gifts gave to the protocol:
- Multicall: Multicall is a new Gearbox innovation (improvement, quite different from the Maker’s geniuses creation) that batches up multiple steps and transactions and delivers them through just a single transaction, making strategy deployment easier & the user experience more fun.
- Gas Optimization: With V2, we will now have a protocol that has been worked thoroughly to reduce the gas inefficiencies. It shall make the cost to use the protocol the cheapest it’s been with significant savings!
- More Leverage: And of course, by more leverage, we mean more capital efficiency. The user metrics showed a clear desire for higher leverage… but at Gearbox, more leverage equates to being able to access higher APYs by helping improve efficiencies — and not as a method to get rekt.
- More improvements coming up! Stay tuned.
With these 3 in place to start with, our Ninjas have already made V2 an improved protocol, a Faster, Leaner, Stronger protocol. But what’s the point of performance if you are limited by your reach? Or are we…?
Time to Look Up Again
Our Leverage Ninjas have worked hard to truly unlock the gifts! And they have come far: with the improved performances and the added strength, they have been able to move beyond the cloud and finally have the dream island of V2 in sight. They see the advancements, they see the tech, they see the promises they talked about coming to life — but as we know…
history doesn’t always repeat but it often rhymes
The last time our Ninjas looked up, they saw the way forward. They saw the box that beamed them through the cloud to a journey that promised to give them the next primitive. This time, the sight wasn’t as positive. Our Ninjas look up and they see 3 comets headed towards the island.
Is this it? Does the V1 fall short when we are so close to V2?
The comets hit the island, the impact is significant, our Ninjas are shocked but not out for they have the strengths from the gifts of the box. Taken aback, they get together and assess the island.
As far as the eyes went, it was smoke and debris. In the aftermath of the comet impact, the destruction felt significant. Anxiety filled and with their breaths abated Leverage Ninjas waited for the it all to settle. After a little while of waiting and gaining their strength back, the Ninjas were befuddled…
What seemed like an apocalypse, might be a blessing indeed. The 3 comets left 3 craters that oddly seemed to have some similarity with familiar faces
Could it be? - they pondered… A gift again to help us move ahead in the journey of V2?
Are these the tools they were looking to apply the enhanced performance on? Are these the bits from the missing V2 puzzle? Or is it a ruse that halts the Ninja journey? The Ninjas now have a tougher task that what they have had before, they must now venture in to the craters and find out through the remains of the comet what their fate will be.
What’s next?
A task so significant, will require a collaboration just as big. While the Ninjas explore the findings of the crater, it’s only the community together that can enable the tools to come into place. How?
By voting over the next few weeks as we get closer to V2! There will be a few GIPs up about how to use the findings of the Ninjas and how to mould V2. If you are a GEAR holder, make sure you vote or you can delegate your GEAR to the delegates to make sure your voice is heard too.
If you would like to join — just get involved on Discord. Discuss, research, lead and share. Call contributors out on their bullshit and collaborate on making things better. Here is how you can follow developments:
- Website: https://gearbox.fi/
- dApp: https://app.gearbox.fi/
- User Docs: https://docs.gearbox.finance/
- Developer Docs: https://dev.gearbox.fi/
- Forum: https://gov.gearbox.fi/t/start-here-forum-rules/
- Blog: https://medium.com/@gearboxprotocol
- Github: https://github.com/Gearbox-protocol
- Twitter: https://twitter.com/GearboxProtocol
- Snapshot page: https://snapshot.org/#/gearbox.eth
- And, of course, the DAO working docs:
