PARSIQ is excited to announce a strategic partnership with Hypersea!
Hypersea
Hypersea is a new-generation DEX with smart liquidity management. Their goal is to facilitate optimal trading between liquidity providers and traders. Hypersea Adaptive Automated Market Maker defines a new standard of rational consuming of external data from oracles and carefully combining it with internally measured traders’ behavior to find the best liquidity provisioning strategy.
What may be of interest to those that follow PARSIQ is that Hypersea is the brain-child of prolific blockchain engineer Anatoly Ressin (yes, him!) — the co-founder of PARSIQ and IQ Labs.
Anatoly and his team are very excited and eager to launch his latest Web3 project! And just so you know, he has $PRQ holders top of mind… more on that below.
But first, let’s find out what Anatoly has to say about launching a new DEX:
We accumulated a lot of knowledge while investigating different user behavior patterns in extremal conditions on DEXes (true PRQties should understand what I’m talking about), by combining this knowledge with modern techniques of liquidity provision (we generalized the approach invented by creators of UniswapV3), we were able to create an adaptive automated market maker, that has a lot of interesting (and profitable) properties:
- The automatic concentration of the provided liquidity in the most profitable price range, which maximizes the trading volume (it maximizes the absolute amount of collected trading fees), and ensures low slippage (our brand new concentration algorithm based on the log-rate moving variance)
- Purely fungible liquidity as in UniswapV2, no need to track/rebalance your position, just throw the liquidity into the pool and receive the LP-tokens that represent shares
- Automatic arbitrageur-less correction of the price that minimizes impermanent losses for LPs (when oracles are in sync with the mechanics described below)
- Novel arbitrageur-based differential correction of the price based on the simple differential equation that takes into account both existing pool reserves, and their changing speed. This technique allows Hypersea to spot differences between prices from oracles and actual user behavior, and adjust the price even if oracles are malfunctioning (of course it reduces the profitability of provided liquidity, yet on the other side it greatly protects the liquidity, especially in extreme cases). Anyway, we expect that most of the time oracles will work correctly, and if they won’t — our mechanics will protect the liquidity
- Active Protocol-owned treasury will be formed from the part of trading fees and will become LP and earn as DAO for itself. Hence, $HYPS will not be only a governance token but also be backed with an ever-growing basket of different cryptocurrencies that will be owned by Hypersea DAO, thus by $HYPS holders. This provides a solid floor for the $HYPS price!
One of the key differences between our approach and other AMMs — we are forming the price of the assets not only by measuring pool reserves (and oracle input on how to interpret the value of these reserves), we are measuring the speed of inflow and outflow of funds into pools that allow us to react even before oracles submit their data to the blockchain. Thousands of small trades in different directions performed over time (or big one-time trades) together treated as continuous flow, provide unprecedented hints for the price discovery mechanisms. Even if oracles are manipulated or are down, our mechanics function correctly, so oracles are just a part of the system, which increases the stability of the price-discovery process.
Our solution is blockchain agnostic, so theoretically it is implementable on any chain. Nevertheless, for us small trading fees, a big throughput of the network, and the presence of reliable oracles are key considerations when it comes to choosing the blockchain. Arbitrum is the first choice for us.
The Hypersea team has ambitious plans for a successful launch of their app in Q4. Take a look below at their roadmap to see what’s in the pipeline 👇
PARSIQ + Hypersea
Game-changing DEXs aren’t just built overnight. Getting it right requires several months of hard work, imagination, problem-solving, behavioral observation, a dedicated team, and of course, data! This is where PARSIQ comes in. PARSIQ provided valuable blockchain data crucial to the development of the precise mathematical models used to establish the basis for the Hypersea DEX. More details on the exact role PARSIQ played will be released over time. Stay tuned for this!
Oh yeah, and one more thing! Our friends at Hypersea consider the PARSIQ community family, and have been gracious enough to extend some tasty treats to the PRQties… say, whaaat?
That’s right, those who have met all three conditions will be receiving an airdrop of the Hypsersea token $HYPS at TGE (and will perhaps, more importantly, they will instantly become HYPSters)!
- Stake your $PRQ! Those who have been, currently are, or begin staking between now and the $HYPS TGE will qualify. (Roughly speaking, for each staked $PRQ during 1 block users get 1 point, points will be calculated starting from the creation of the PRQ renting pool until the date of airdrop for every user. We see every single movement in a blockchain. We are PARSIQ after all!)
- At the moment of Airdrop have a non-zero stake $PRQ in IQ Protocol
- Users must be registered in the Hypersea Airdrop program.
Note that airdropped tokens will be locked for a month to prevent an immediate sell-off.
How exactly will the airdrop work?
- It is important to apply to the program. You just go to the address [URL will be announced later in Hypersea media channels], and connect your wallet with the address that was used for $PRQ staking
- Once per day we will calculate how many token-blocks you’ve staked so far. This makes 100 PRQ staked for a year more valuable than 10,000 PRQ staked for one day (Actually, 100 PRQ staked during a year is equal to 36,525 PRQ staked during a day)
- At the date of TGE [To Be Announced in Hypersea media channels], the total amount of $HYPS (60 000 USD in value) will be distributed automatically between all applicable participants proportionally to their token-blocks metrics.
WARNING: always check that you are on the right address. Their official domain is hypersea.com
What’s the best way to keep up with the Hypersea channels? By following them of course! Show your love to Hypersea by joining their community 👇
About Hypersea
Hypersea — the new generation DEX with smart liquidity management. The goal is to facilitate optimal trading between liquidity providers and traders, by maximizing LPs yields, minimizing slippage for traders, and protecting the liquidity by applying automatic adaptive risk management procedures.
Website | Twitter | Discord | Telegram Community | Telegram Announcement Channel | Medium | Reddit
About PARSIQ
PARSIQ is a full-suite data network for building the backend of all Web3 dApps & protocols. The Tsunami API provides blockchain protocols and their clients (e.g. protocol-oriented dApps) with real-time data and historical data querying abilities.
Website | Blog | Twitter | Telegram | Discord | Reddit | YouTube | Link3.to
