Osmosis Updates from the Lab Recap, The Growing Osmosis Ecosystem, May 25, 2022
Osmosis Updates from the Lab occurs every Wednesday at 1 PM EST (5 PM UTC) on the Osmosis Zone Twitter Space. Replays are available on the Osmosis YouTube channel or the podcast.
**Breaking** Osmocon is happening June 9th in Austin, TX, right before Consensus (10–12). For more information and to purchase tickets, check out Osmocon.com. We’re going to have builders talking about Osmosis NFTs, DeFi applications, Bridges, UX, Tooling, Grants, and more. Plus, it’s almost the one-year anniversary of Osmosis, so put your party hats on! 🥳🥳
This week on Updates we checked in with Reverie about the Osmosis Grants Program, as well as two of the program’s grantees, Dexmos.app and Defiant Labs, makers of a Cosmos tax application with Osmosis support.
Osmosis Grants Program
Derek and Fede report that it has been a busy month of administering the Osmosis Grants Program, particularly in the wake of the Terra collapse, with many teams looking for a new home. These conversations are ongoing, and will likely bear fruit soon, much like the Mars Protocol announcement that they are re-launching their lending platform on Osmosis, which we will cover in depth next week.
In response to a question about automated strategies, Sunny also mentioned Osmosis ecosystem projects (not necessarily grant applicants) like Quasar and Apollo, who are working on automated liquidity provision. The White Whale team from Terra may help provide some help in the area of automated arbitrage.
Given the likely increased demand to launch on Osmosis and the large drop in the Grants Program budget, the team is requesting an emergency top-up from the DAO. See details below in Governance Corner.
Batch 3 of grants is live. Fede highlights the Phase App (from batch 2), which is a dollar-cost averaging (DCA) app that “will allow Osmosis users to automate investment strategies while generating yield on their investments. It will be built on top of Osmosis using CosmWasm smart contracts.” They are planning to launch a token and airdrop a portion of it to the Osmosis community. Fede also pointed to the All that Node node services grant, which will enable easier, more stable development for teams building in the Osmosis ecosystem. And finally, he highlighted the abundance of analytics tools that the OGP has funded, like the Multifarm.fi DAO treasury dashboard, and retroactive grants for HathorNodes (who has also been killing it on Twitter lately) and Dexmos.
Dexmos
Geo, the creator of Dexmos was one our guests today. The Dexmos app shows the historical returns on Osmosis liquidity pools, broken down by various time periods, and it also breaks down the amount of bonded and unbonding liquidity in each pool, separating out data for 1-, 7-, and 14-day locks. It is thus a crucial tool for assessing the past and likely future health of the various pools and the state of liquidity on Osmosis as a whole.
Geo is an incredible Osmosis community member and dev. He built Dexmos by hand with spreadsheets and calculators, and then when people in the community kept asking about mismatches between the listed APRs and what they were receiving, he wrote and published a front-end for it, with the help of Zetherin, Jeremelric, RoboMcGobo, and others. Well done, all!
Some things that are in the works are an ROI calculator, impermanent loss calculations (and the required APR to off-set it), adding superfluid staking data, and new ways of aggregating the data. Dexmos has also developed an autocompounder, Yieldmos.
Tax App
Kyle and Dan from Defiant Labs, Batch 1 grantees, came by to fill us in on their (U.S.) tax program. For next year, they are looking to support all Cosmos SDK chains, as well as past data from Koinly. Defiant Labs’ goal is to reduce costs for end-users by eventually adding Turbotax support, producing your IRS tax documents for you, or giving you documents to provide to your CPA.
Governance Corner
Last week’s votes: Votes to match external incentivizes on AKT/OSMO, remove superfluid from OSMO/UST and OSMO/LUNA, and enable it on OSMO/DAI (#674), OSMO/USDC (#678) and OSMO/ETH (#704) all passed easily, as did the first regular incentive adjustment under the Prop 233 “Category” incentives model. Prop 237 to incentivize OSMO/GLX failed.
Current votes: Prop 239 to enable superfluid on WBTC/OSMO (a no-brainer) is passing easily, as is Prop 240, adding incentives to OSMO/EVMOS. XPRT has three props: 241 to enable superfluid, 242 to match external incentives for XPRT/USDC, and 243 to enable superfluid for XPRT/OSMO. Prop 248 is the next regular incentive adjustment.
— Proposal 244 is a strategic change to OSMO/MAJOR liquidity mining emissions. Recall that under the new incentives model this category gets 45% of total liquidity mining rewards. In broad strokes, Prop 244 would cap ATOM/OSMO at 15% of total LM emissions (vs. 25% under the current model). This would allow the other OSMO/MAJORs to get more emissions: WETH, 4.91% →10%, WBTC, 5% →10%, and CRO 0.9% →3%. For more discussion, see Commonwealth.
— Proposal 245 is a request for Osmosis Support Lab Funding for next quarter (June — August). They are asking for 523,552 OSMO from the community pool. I am biased, but I think they have been well worth it, particularly through the recent difficulties with Terra, and they will continue to be worth it as we onboard new apps to the Osmosis ecosystem. Check out their full proposal for more info.
— Proposal 246 is a request for additional Osmosis Grants Program funding. In light of the market downturn, their budget has decreased from $12M to $2.3M, right at the time we are looking to onboard many new teams. They are therefore asking for 7.5M OSMO. Check out Commonwealth for more.
— The vote for Osmosis v9, featuring token factory, interchain accounts, etc. is imminent.
Finally, the front-end refactor is out, and it is fast and beautiful!
Huge thanks to the team, and especially Jon!
That’s it for this week! Next week, our guest is Larry0x, whom you’ll recognize as a prominent Cosmos ecosystem validator and thought leader. But he will be talking to us about Mars Protocol and its plans to re-launch on Osmosis and eventually its own chain. Expect an exciting show.
Enter the laboratory at Osmosis.zone, the first decentralized exchange powered by the Cosmos SDK and IBC. See our published lab reports at the Osmosis blog, our bench notes at GitHub and help plan future experiments in our Commonwealth
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