The main questions from OKX host — Moonlight to the Vaultka team:
- Can you give a short introduction about Vaultka?
- Vaultka is positioned as the catalyst of Perp DEX and designed to optimize users' return of perp DEX LP.
- We are becoming the “Convex Finance” of perp DEX.
- We provide a convenient and secure LP farming experience to our users.
2. What are the reasons for building Vaultka on Arbitrum?
- We are Arbitrum Maxi and we want to support the ecosystem.
- Arbitrum has low latency and high throughput, an ideal network for DeFi teams to build on it.
- There are numerals of Perp DEXs built on Arbitrum with adequate trading volume.
3. How do you guys capture the opportunities of perp DEXs
- We are developing new strategies for various Perp DEX LPs for our users proactively.
- we offer a wide spectrum of strategies that suit our users with different risk preferences.
- We aim to become a one-stop platform for all perp DEXs LPs
4. Can you give us some “alpha” of Vaultka to our audience?
- Good news, we have completed our seed round of 400k USD. — Will launch new $gDAI (Gains Network — LP) and $VLP (Vela — LP) leveraged vaults soon.
- Will develop an LP index in the future.
- We aim to become the DeFi powerhouse of Perp DEXs on Arbitrum.
Full transcript of AMA — (est duration of 1 hour)
[00:00:00.680] — Host — Moonlight
GMX Communications contributor, would you like to open your mic to do a quick test? Thank you.
[00:00:07.140] — Jonezee
Testing, testing.
[00:00:08.360] — Host — Moonlight
Brilliant. We can hear you clearly. Next, we would like to invite our co-founder of Timeswap, Ameeth and Mimi. Hey, guys. Hi.
[00:00:20.840] — Ameeth
Hey, guys. Good to be here.
[00:00:23.090] — Host — Moonlight
Awesome. How many guest speakers are here today from Timeswap? Thank you.
[00:00:28.720] — Ameeth
It’s just two of us. It’s me, Amith, and then there is Mimi.
[00:00:33.240] — Host — Moonlight
Okay, so both of you are sharing this account, right?
[00:00:37.910] — Mimi
No, I’m in this account, in a different account.
[00:00:41.710] — Host — Moonlight
Oh, okay. Cool. Okay, cool. I see both of you right now. Okay, awesome. Thank you for letting me know that. Next, we’d like to invite the Product lead of Vaultka, Eric, to test your mic.
[00:00:55.620] — Eric
Thank you. Yeah, great to be here.
[00:00:58.600] — Host — Moonlight
Brilliant. We could hear you clearly. Following, we also have two guest speakers. They are Kurapika and Alex from FactorDAO. They are co-founder and BD Lead.
[00:01:11.820] — Kurapika
Hey, everyone. Thank you for having us.
[00:01:14.390] — Host — Moonlight
Hi. May I ask if we have two guest speakers from the Spectrum DAO account?
[00:01:22.190] — Alex
Yeah. Hi, I’m here. Nice to meet you. Thanks for Having me.
[00:01:25.040] — Host — Moonlight
Awesome. Great. So yeah, later for projects that have two representatives, you can decide who will answer the question first and who would share additional information. Yes, and add on, thank you so much. During today’s Twitter Space, the duration will be around 60 to 90 minutes and each of teams will be asked about three questions. First, we are going to starting from the guest introduction team background and then we are going to go to each of your question list and at the end, we’ll ask you about important milestones or recent events and roadmaps as a wrap up. And now we’re going to welcome everyone or our audience and guest speakers as well as house two today’s Web3 Twitter space. Our topic today is building better DeFi and exploring the Arbitrum ecosystem. And our guest speakers are from GMX, Vaultka, Timeswap, and FactorDAO. They are all amazing Web3 builders at the Arbitrum ecosystem. This is Moonlight, your host. And I would like to, starting from GMX, asking our GMX communications contributor, Jonezee, to introduce yourself and lead Project S. Thank you.
[00:03:00.810] — Jonezee
Thank you, Moonlight, and thanks everyone for joining us today on this Arbitrum Twitter space. My name is Jonezee. I am one of the communications contributors helping coordinate the business communications for the GMX Exchange in the backside. My presence has been involved for a little under a year now and GMX has been around for about a year and a half on Arbitrum. As some of you may be familiar. We are a decentralized perpetual exchange. Let me start at the very beginning. We are an on chain exchange offering perpetual swaps as well as spot swaps, but focused on perpetual futures. Live on Arbitrum, live on Avalanche as well. But today our focus will be on Arbitrum. And we’ve grown a lot over the last year and a half and have managed to attract a lot of users, volume, liquidity. I’m sur e we’ll be able to delve into that a bit more. But let me first give the microphone to my friends and colleagues who are here from the other leading Arbitrum protocols.
[00:04:21.460] — Host — Moonlight
Thank you so much, Jonezee, for sharing the introduction to us about GMX. And next, we are going to invite our guest speakers from Timeswap. Ameth and Mimi need to introduce yourself, your role at the project. So let us know more about the Timeswap Project. Thank you.
[00:04:44.270] — Ameeth
Hey, guys. Thank you for having us. This is Ameeth, one of the co founders of Timeswap. And very excited to be here alongside all the amazing builders from the Arbitrum ecosystem, Jonezee, and Vaultka, FactorDAO team. Great to be here and thank you for hosting us, the OKX team. So coming to my background, I’ve predominantly been in crypto since early 2017, mostly been through the previous cycle as an investor trader. And then during the DeFi summer, I essentially got involved into all the DeFi protocols and essentially gave me conviction that DeFi is probably one of the breakout applications for blockchains. And essentially I quit my fintech job and jumped full time into crypto with the launch of Timeshot in late 2020. So it’s been a couple of years that we’ve been building this product. And yeah, today we’re live across Arbitrum, Polygon, and Ethereum. And our version 2 just went live on Arbitrum a couple of months ago. So yeah, excited to be here. Just giving a background about Timeswap. So Timeswap is essentially a fully decentralized lending borrowing protocol. When we started Timeswap, our goal was that during the DeFi summer, we saw that Uniswap how it enabled the permissionless exchange of assets.
[00:06:05.820] — Ameeth
But we felt there wasn’t any fully decentralized lending borrowing protocols. I mean, there were protocols that were doing some parts of it permissionlessly, but it wasn’t fully decentralized. So our vision was that, okay, we want to build a Uniswap like lending borrowing protocol. And today, yeah, our protocol works on a three variable AMM. And it’s currently, it is a fully Oracleless design, which basically means we can list any assets in a completely permissionless manner. And it provides, let’s say, fixed income loans and lending opportunities for users. And the greatest example is that we work with the Plutus team in Arbitrum and launched PLS app pool for which there was no secondary liquidity. But essentially being a fully Oracleless platform, we’re able to provide, let’s say, safe lending and borrowing for that asset. So we are excited to speak more about tangent up and speak with other builders from the arbitrary ecosystem.
[00:07:06.800] — Host — Moonlight
Thank you so much, Meeth, for joining us today. And Mimi, would you like to add any additional information? And also, please introduce yourself as well. Thank you.
[00:07:16.450] — Mimi
Sure.
[00:07:17.130] — Mimi
I’m meet covered all ground. So I’ll just be talking more about myself. So I’m Mimi and.
[00:07:22.670] — Mimi
I’m part of the growth team here in Timeswap. Basically, I handle partnerships & Marketing, and any integrations with Timeswap as well and yeah. That’s pretty much it for my profile. Excited to the rest of this place.
[00:07:38.870] — Host — Moonlight
Glad to have you here as well. And we also wanted to ask our audience kindly helping us to share this Twitter space link through your profile and to other social media platforms so more audience can join us and learn more about these amazing Arbitrum projects. And next, we’re going to invite our guest speakers from Lead Factor DAO. They are Kurapika, co-founder of FactorDAO, and Alex BD Lead of FactorDAO. I would like to go first to introduce yourself and also introduce FactorDAO to us. Thank you.
[00:08:15.540] — Kurapika
Wonderful. Thank you, Moonlight, for having us. First of all, my name is Kurapika. I’m the co-founder and Lead Ops in Factor. I have been working in fintech for over a decade now and came into crypto in 2016 by creating and founding an analysis platform to really create another layer of risk management on top of the investment platforms and the ICOs that were back at the time, went into advice and contributed to several protocols since and been working on Factor for the past year now. And just to give a quick overview, Factor as the platform is the front end of DeFi and liquidity management layer. What it practically means is that we created a composable element for all the different DeFi protocols, or you can look at it as building blocks, and any strategist or protocol or individual can create a variety of complex strategies just without a no code platform and directly distributed to all the different chains and liquidity layers on top of all the integrations. And for the liquidity side, anyone that has capital can now go and get exposure to a variety of actively managed strategies, including ones that are built on top of GMX in a one-click element, including a layer of risk management on top.
[00:09:50.920] — Kurapika
Alex, do you want to add anything and also tell a bit about yourself?
[00:09:54.520] — Alex
Yeah. Now ell you.
[00:10:08.600] — Host — Moonlight
I’m not sure if it’s my connection or…
[00:10:10.830] — Ameeth
Yeah, I think you dropped. Yeah, so let’s continue.
[00:10:17.930] — Host — Moonlight
Sure thing. Thank you so much. And also, Alex, if you cannot, for some reasons you are disconnected, feel free to quickly leave this space and then join us pretty soon. And you will be connected again. Next, we are going to invite our product lead Eric from Vaultka to introduce yourself and also introduce Valker, the project to us.
[00:10:40.560] — Eric
Thank you. Sure. Hi, everyone. Thank you for Gala and Monica for making this happen. I’m happy to share about the DeFi landscape with other reputable DeFi projects on arbitrum . I’m Eric, I’m the product lead of Valker, and my background will be from trading, and I gradually shift to a PM role into a DeFi PM role. So let me talk about Vaultka. Vaultka is a new protocol that specializes in providing different perpetual decks LP strategies. And we are the catalyst of the perpetual decks such as GMX, Gains networks, Vela Exchange, and etc. And we aim to accelerate the usage of perpetual DEX. And how do we do so is to provide value added strategies to our users such as leverage strategies, market neutral strategies, and to provide more stable liquidity to decentralized perpetual market. Also, we want to provide a convenient, hassle free, and one click strategies for our users’ LP tokens. There are lots of many nuances such as withdrawal time and window, dynamic fee charge, ES token vesting, and all this will be handled by our teams. Moreover, we have our risk management towards V-score through Evaluate the liquidity, interest, and exposure of different perp DEXs and to visualize the risk to our users intuitively. So we aim to provide a better service and product to our users on our platform. Great to be here.
[00:12:16.440] — Host — Moonlight
Welcome, Eric, to today’s Twitter space. And everyone, those are our guest speakers’ introduction. Please follow them and follow their projects. So when there are additional information being shared through Twitter, you are going to receive the notifications firsthand. And next, we are going to go to our list of questions to each of our guest speakers and their project. First, we’d like to go to Jonezee, What is GMX Composability in the Arbitrum ecosystem? Thank you.
[00:12:53.470] — Jonezee
Thanks for that question because it’s an important question. Composability is a very important characteristic for GMX. The perpetual exchange has been constructed in such a way to make sure that all the modules are indeed composable and that many other projects are able to build on the foundation that GMX has laid. So that includes our trading module. It also includes our liquidity system, GLP, which some of the audience may be familiar with. Excuse my voice. I’m recovering from a week of COVID, so I haven’t had the best week. So occasionally, I may be a little bit different, difficult to hear, but I’m going to do my best to make myself completely understandable. So we have a lot of different teams building on GMX. I have to admit, the exact count is hard to keep up with because new ones introduce themselves every week. But I think we’re currently up to about between 80 and 100 integrations of GMX and about 70 projects building on GMX. Many of those are vault solutions such as Vaultka just mentioned. GLP offers a very interesting composable Lego brick to build on because GLP has a lot of liquidity available and offers excellent yield in terms of the fees that the GMX exchange generates.
[00:14:29.430] — Jonezee
So we’ve seen countless projects building on GLP. We’ve seen exchange aggregators integrate with our trading module. We’ve seen additional decentralized front end for GMX come up. So there have been countless ways in which teams of builders have integrated with GMX and tried to further expand the functionality we’re able to offer. When it comes to GMX itself, as I mentioned, we’re decentralized perpetual exchange, which basically means we attempt to offer the ideal on chain trading experience. Perpetuals are a great instrument in that regard and become quite famous in crypto as a form of futures that has an expiration date and is thereby quite straightforward and easy. An instrument for speculation, of course, but one that has become quite prominent in crypto popularized by BitMEX back in the days. Now, GMX has managed to become quite big in that field, offers more than 500 million in liquidity nowadays in just a few key assets that are tradeable on the exchange. BTC, ETH, and a few handful of other leading cryptos like Chainlink token, Uniswap token, and Avalanche token. With just a few assets available, the exchanges managed to grow quite big, offer a lot for traders, and offer very deep liquidity.
[00:16:19.190] — Jonezee
Now we’re in the process of launching our version 2 of GMX. And that’s something we’ve been working on for a long time now, a little under a year with the devs doing incredible work in realizing that version 2 will be able to offer a lot more assets for trading and come with some other essential improvements to the trading experience. We can talk about that a little bit more later. But to stick with the topic of the GMX ecosystem for now, as I mentioned, many projects integrated with us, and that’s also been a core focus of GMX from the moment we launched on Arbitrum, which was exactly on the same day when Arbitrum itself launched. So we managed to really broaden the liquidity that’s available on Arbitrum, build out the DeFi ecosystem that slowly, over the last year and a half, developed on Arbitrum. And it’s really our goal to also offer the deepest liquidity for native tokens on Arbitrum and see this DeFi ecosystem continue to expand. Because a lot of the DeFi promise that started on Ethereum with, let’s say, DeFi Summer in 2020, sparked a lot of hype, created tremendous expectations, and then ran into the natural limitations of gas usage on Ethereum and the difficulties that came with that.
[00:17:56.780] — Jonezee
To a large extent, I believe Arbitrum is the solution to that, and rollups in general are an important element of the solution. And we’re seeing that solution now slowly becoming a reality on Arbitrum. Seeing an ever expanding DeFi ecosystem, interesting Lego blocks that interconnect and build an impressive structure together. And that’s what GMX is going to be focused on, further building out that ecosystem together with our collaborators. I really look forward to seeing where we stand in a year or two. I expect Arbitrum will then be a DeFi powerhouse, even more than it already is currently. Thank you.
[00:18:49.140] — Host — Moonlight
Very much, Jonezee, for your time at introducing Composability of GMX in the Arbitrum ecosystem. And also take care of yourself. Thank you for joining us, even though you didn’t feel well. Next, we’re going to bring the question to Timeswap. Ameeth and Mimi, how is Timeswap different from your typical lending market? And also how can users benefit from such differences? Thank you so much.
[00:19:21.940] — Ameeth
Yeah, thank you. Great question. I think like I mentioned in the introduction, the key design principles of Timeswap is that we essentially provide fixed maturity, fixed income, let’s say, lending borrowing services. So some ways in which we are different, I’ll explain from a user perspective and also from a design perspective. I’ll start with design because I think one of the core issues that we wanted to, let’s say, fix was how do we permissionlessly scale, let’s say, lending borrowing in DeFi. If you look at most of the DeFi protocols and lending borrowing today, only few assets can be listed on these protocols, predominantly because a lending borrowing protocol needs a safe and secure Oracle that cannot be manipulated. So today, most of the lending borrowing protocols, you’ll see about 10 to 20 assets that can be listed as collateral. Now, obviously, many protocols have tried in the past to expand this list to long tail assets. And you’ve seen over the last couple of years, there have been countless Oracle manipulation hacks where Oracle is manipulated and protocols are manipulated and protocols are less fit, bad debt. So we wanted to fix this from a design perspective.
[00:20:33.220] — Ameeth
And that’s one of the key differences is that we don’t use an Oracle at Timeswap. So it’s a completely self sufficient protocol that works exactly like Uniswap. But instead of extending assets, you can do permissionless lending and borrowing for, let’s say, any asset out there. So that’s like fundamentally in a design perspective, how we are different from other lending borrowing protocols. From a user perspective, it’s predominantly the fixed maturity plus fixed income. Now, what I mean is that many of the current lending borrowing protocols, you’ll see that suddenly there is a spike in yield, let’s say 70 % APY. So typically what happens is immediately after that, let’s say people enter the pool, but then let’s say a whale enters the pool and pushes down the APR. So essentially your earnings or APY as a lender is not fixed. Similarly, for a borrower also, let’s say you enter the pool and the yield, so let’s say you’re paying five %, but let’s say there is suddenly a spike in demand and now you end up paying, let’s say, 70% APR on your borrow. So this obviously leads to lower predictability for long term loans.
[00:21:39.960] — Ameeth
At times of, essentially, your yields are locked. Whatever yield you lock in when you enter the pool, that stays locked in for the entire duration. So you don’t have to worry about, let’s say, your yields being, let’s say, taken over by somebody who comes after you, or let’s say you’re having to pay higher yield than what you entered into the pool. This is one of the key differences. Another is that the loans in times up are non liquidatable. Essentially, you can safely leverage up without worrying about your health factor or collateralization because we work on a non liquidatable model where the liquidation essentially happens on maturity when a borrower decides to default. So there is no interim, let’s say, impact of the token’s volatility on your position. So you can essentially borrow and forget and never have to worry about getting liquidated. So these are a couple of interesting design choices which essentially separates us from all the other money markets out there. And we do believe this enables a different, let’s say, additional utility for all the wonderful assets that are not possible today to be listed on the most common lending burning protocols, that’s some of the ways in which we are different from other lending burning protocols.
[00:22:54.060] — Host — Moonlight
Thank you so much Ameeth for sharing the information about Timeswap, how it is different from other lending market and how can users benefit from these differences. Next, we’re going to ask if Mimi would like to add any additional information?
[00:23:14.160] — Mimi
No, I think, what Ameethn mentioned regarding the differences of our design and the typical lending market, they’re all ground scan.
[00:23:23.820] — Host — Moonlight
Sure. Thank you so much. Next, we’re going to bring the question to Eric. He’s the Product Lead of Vaultka. We wanted to know why is Vaultka decide to build on the arbitrum chain? Thank you.
[00:23:39.320] — Eric
Sure. As you guys may know, Vaultka is an Arbitrum maxi. So Arbitrum is really indeed the performance chain of Ethereum. And as Jonezee has mentioned, it’s like the powerhouse of DeFi. It’s definitely a great place for DeFi projects. Low latency, higher throughput would be great for different projects. And there’s a sufficient amount of DeFi protocols that Vaultka can interact with each other. And we can therefore create much more strategies, such as we can create strategies with GMX, such as we can create strategies with FactorDAO, such as we can create strategies with Timeswap. There are lots of possibility and strategies that can benefit our users. And therefore, we can create a great ecosystem on Arbitrum Chain. So moreover, we also witnessed that there are lots, many perpetual DEXs are list on Arbitrum and deploy on Arbitrum. The trading volume is great here and we can enable our users to capture that growth and activities. And our team recognize there’s lots of demand for the LP management, and that’s why we are joining the Arbitrum family to capture the growth and provide a great product to our users on our show.
[00:25:04.180] — Host — Moonlight
Thank you so much, Eric, for sharing the reasons why Vaultka choose to build on the Arbitrum Chain. And next, we’re going to bring the questions to the FactorDAO’s guest speakers, Kurapika, Co-Fouders, and also Alex-BD lead. We wanted to know what problem is Factor trying to solve? Thank you.
[00:25:27.460] — Kurapika
Thank you for the question. Yes, and I want to touch about what Jonezee mentioned, firstly, about composability. I think what Factor is trying to solve here by being the front end for DeFi is that simplification or the accessibility for all the different strategies and the great yield DeFi knows how to generate. The problem right now, it’s really siloed or distributed among very much different and diverse amount of protocols doing different strategies from active management to passive management to building on top of different protocols. And I think you know what? We can actually talk about GLP for a minute because as Jonezee mentioned, many different protocols are now building on top of GMX and concluding all of their strategy upon the GLP asset. So what factor allows or solves is to create another layer or another building block by taking this GLP and connected with dozens and dozens of other integrations like Vaultka, like many other protocols, which Alex can elaborate in a second, and really allow the building blocks or creating complex strategies that were just not available before. So instead of going and creating a full protocol just to build on top of GLP, you can now create this composable asset and combine it with other features within Factor and just practically speaking, launch a protocol which has a vault in it, it has a token that bears the yield and of course distributed among the depositors according to the performance of the strategy.
[00:27:17.080] — Kurapika
And this is an overview and Alex, I’d be happy for you to first elaborate. And of course, if you have some view from your business side for the partners, that would be also great.
[00:27:30.480] — Alex
Yeah. No, I think you’ve covered that pretty well. I guess we’re going to get into the partner side of it in a bit, right? So yeah, nothing to add on that particular question.
[00:27:43.160] — Host — Moonlight
Brilliant. Thank you so much, everyone, for answering the round one question. We’re going to go to our next round. Over here, we also wanted to encourage all the audience helping us to share today’s Twitter Space link through your personal Twitter handle or to other social media platforms so more audience can join us today. Also, this Twitter space is being recorded, which means everyone can listen to the replay over and over again. So join us. And next, we are going to come back to Jonezee from GMX. He’s the communications contributor over there. So now we also wanted to learn about how does GMX plan to grow your project within the Arbitrum ecosystem. Thank you.
[00:28:32.090] — Jonezee
Thanks, Moonlight. We’ve touched on it a little bit already when I addressed the issue of composability a minute ago, but I think what’s important for GMX is that from the very get go, we’ve been looking to not just build our own on chain exchange that offers an excellent trading experience, but also to build out a network of projects integrating with the exchange. So this is taking place on Arbitrum. It has also taken place on Avalanche, where GMX has also deployed. But that’s really the goal to facilitate and help foster an ecosystem around the GMX exchange. So our approach has been collaborative from the very beginning. We’ve reached out to many good teams of builders that we’re looking to also deploy on Arbitrum. And from the start, I’ve been working together with them to figure out solutions for the problems that exist in DeFi and to figure out how together we can come up with attractive opportunities for users to help really expand the DeFi ecosystem on Arbitrum. And that long term vision is what still guides us. So it’s very much a collaborative approach. And when you ask the question, how do we plan to grow our project?
[00:29:59.360] — Jonezee
That has really been the approach that has helped us grow tremendously over the last year and a half. If you look at how volume has expanded on GMX steadily, how liquidity has deepened on GMX steadily. It has been a long term process of diligent, slow, secure growth. And in terms of TVL and in terms of the liquidity available in GLP, there’s been a steady, rising upward trend. And I think that building together with other great protocols and other good teams of builders helps facilitate that because the bonds get stronger, those protocols lock up parts of GLP or add on functionality to our GMX modules and thereby make it even stronger. In a sense, create a bigger moat, which makes GMX as an exchange even more robust, ensures that we are here for the long term. And that’s really our vision to help create Arbitrum as a DeFi powerhouse together for the long term. So we’ve also worked with off chain to help realize that vision. Offchain being the team behind Arbitrum for those of you who are in the world. And that’s why we work with so many different teams integrating us. And as we progress to the version 2 upgrade of GMX, which is in the works and coming in the next weeks, we expect to be on test net in a couple of weeks and then on main net probably just a few weeks after, after some additional testing and security checks.
[00:31:54.520] — Jonezee
That will become even more prominent theme once again, because when you start up an on-chain perpetual’s exchange, you’re always faced with the conundrum of how to bootstrap liquidity. To attract liquidity, you need traders. To attract traders, you need liquidity. That very quickly becomes a catch 22. And I think our GLP model did a great job in solving that dilemma to an extent and show that it was possible to bootstrap sufficient liquidity for an on chain exchange fairly quick, if you provide the right incentives, and if you provide the right emphasis on security, which is so important for liquidity providers, because if you give your funds and deploy them to a protocol, basically put them in the hands of a DeFi protocol, then you want to be sure that you’re in good hands and you want to be sure that your safety and security is being taken care of. I think that faith in GMX has grown over the months, over the last year and a half. And I think that further reinforces that sense of a moat and of a well established protocol where you can safely deploy your funds. Now with V2 coming up, V2 will offer isolated pools, so many more assets, pools that will need to bootstrap liquidity once again, but this time not through a simplistic, easily accessible GLP model, but through a slightly more complicated model with isolated pools, so isolated risk.
[00:33:44.280] — Jonezee
We again face that question of how do we track sufficient liquidity? Now, I think as a brand name, GMX has shown that it cares about its liquidity providers and takes their security incredibly seriously, prioritizes it. So I think that plays a big part in, let’s say, the message of GMX. And I hope that will help us also attract liquidity to the new pools. And on the other hand, it’s also about the protocols we work with and how they facilitate easy access to our pools, develop instruments on top of these pools to make it easy for people to contribute liquidity and generate good yields. So there are a lot of elements when it comes to the question of how do you properly and professionally grow a project. But I think that over the last year and a half, GMX has proven its worth in that regard. And we look forward to doing the same in the coming year as we roll out version 2 and further optimize the on chain trading experience for users.
[00:35:01.440] — Host — Moonlight
Thank you so much Jonezee and we’re also looking forward to seeing the GMX project keep growing in the Arbitrum ecosystem. And next, we are going to bring the question to timeswap Ameeth and Mimi. How is Timeswap playing the perp dex narratives? Thank you.
[00:35:21.980] — Ameeth
Yeah, thank you. I think great question. I think Jonezee just highlighted how we have to base assets in the GMX question that today has earned a lot of trust based on how it has performed over the last year and a half or so. I think the liquidity, the users, etc, are a testament to that. And I think overall, obviously, I think perpetual exchanges, I guess, today has the strongest product market rate of, let’s say, any product in DeFi. I mean, we just saw the announcement from Coinbase a couple of hours ago that they are launching a perpetual exchange. Obviously, I think it’s imperative that we have strong decentralized perpetuating exchanges on chain as well. And I think it’s great to see that the adoption that’s been happening. And for us, I think the way we look at this was like I mentioned a couple of… In the earlier question that fundamentally where we add values that we’re able to provide, let’s say, non liquidatable leverage or liquidity to, let’s say, existing token holders, or let’s say token holders wants to earn a yield, we can permissionally create pools for them. So for us, when we are looking at either GMX or GLP, we’re looking at, okay, today there is so many great teams building, let’s say, vaults to, let’s say, yield on, let’s say, GMX, or let’s say, abstracting the complexity for regular users, we see different Delta Neutral, let’s say, vaults being built.
[00:36:42.140] — Ameeth
We’re looking at, okay, where do we fit in? I think when we’re looking at, let’s say, GMX and GLP, we saw that, okay, there is a potential to provide, let’s say, liquidity for, let’s say, some long term GMX holders who probably need some liquidity but are not looking at the staking yield. So they can let’s say, probably utilize time stop for some yield or let’s say for some liquidity. Same triple, let’s say, GLP. So let’s say somebody has added liquidity in GLP vault and let’s say they want to leverage it so they can possibly use a leverage loop strategy. So looking at different ways in which we can help the overall, let’s say, on chain perpetual decks ecosystem very strongly bullish and looking to work with all the other teams as well. I’ll also pass on the mic to my colleague, Mimi, to share some thoughts on this.
[00:37:33.240] — Mimi
Yeah. So we’re being covered a lot in that short time, but just to reiterate what Timeswap is, basically, thanks to our Oracless design we’re able to list any ERC 20 tokens both. For lending and borrowing. And so we’ve been exploring the perp DEX space for quite some time, talking with several DEXs and Especially like what Jonezee said, there’s a lot of projects building on top of GMX GLP. So we’ve also been in touch with those, let’s say second layer products. And we’re utilizing the fact that due to our model where we don’t need deep liquidity in the DEXs For us to create a lending market for those tokens to be able to cater to those long tail assets for example, if there was a token that could represent the Delta Neutral Traders P&L of GMX and we were to create a lending market for it, then it’s essentially a prediction market where people could lend or borrow based on their prediction or conviction, whether the GMX traders will go up or down without any exposure to the underlying assets, which is Bitcoin, Ethereum, etc. So yeah, we’ve been in talks with all these projects and stay tuned for the coming weeks or even months because they’ll be heaty from our side. We’ll be dropping more and more pools, especially around the crypto tracks narrative.
[00:39:11.080] — Host — Moonlight
Thank you so much, Mimi and Ameeth. Both are growth and also co founder of Timeswap for sharing the answers with us. And next, we are going to bring the question to Eric, the product lead of Vaultka. We want to ask how will Vaultka capture the opportunities of perp DEXs? Thank you.
[00:39:32.500] — Mimi
Yes, thank you. I think the key word of what we are discussing would be composability. So I think Vaultka, as a yield protocol, well proceed to capture the value introduced by different perp DEXs. The perp DEXs introduce a lot of the liquidity, such as GMX, gains network. And Vaultka can capture the value from those perpetual DEXs for our users by providing different value added strategies. Also, Timeswap providing permissionless lending would be a great strategy for Vaultka as well. So Vaultka is well perceived to capture the opportunity of perpetual decks. And moreover, Vaultka is a proactive team that actively sourcing and developing different strategies from different perpetual DEXs such as GMX, Gains networks, Vela exchange, MUX, Cap Finance, and we are all in touch and having a lot of conversations with those Perp DEXs. And we aim to provide our users with such product in a very timely manner that they can capture the growth and the opportunity of such perpetual decks instead of just waiting for other new platforms to develop in the very long development life cycle. However, we also really pay attention to security. As Jonezee had mentioned, security is what we are paying lots of attention to, especially in this current time. We have to do a lots of auditing and we understand that auditing is a continuous process and we will do more and more internal, external risk management and assessment for ourselves as well. And moreover, we offer a spectrum of strategies that suits different appetite for our users. Currently, we only provide market neutral and leverage strategies, and yet the feedback is quite positive. Our vault strategies are almost fully subscribed in, and we will be gradually increasing the cap in order to protect our users from any incidents. Moreover, we provide a very low performance fee, which will be encouraging fee structures that is accessible to users compared to other yield projects. And eventually, we aim to become a one-stop platform for all Perp Dex LP and to become more user friendly by being a one stop platform. And lastly, we aim to extend Vaultka with different use case such as lending, trading, market neutral, and etc. With compatibility. So we do a lot of partnership to create use case for our users. And we just aim to capture all the growth and opportunity from different perpetual DEXs and to provide to our users.
[00:42:40.730] — Mimi
Thank you so much, Eric, for sharing how Vaultka captured the opportunities of prep DEXs and also covering the Compasibility. Also next, we are going to bring the question to FectorDAO’s Co-founder, Kurapika and BD lead Alex. What is the route to market and why have you partnered with so many different protocols? Thank you.
[00:43:08.170] — Alex
Yeah, so excuse me. Yeah, I can take that one. So yeah, I think like Kurapika originally described, we’re trying to create this middleware infrastructure so that there’s a no code modular platform that enables the creation of any strategy. So ultimately, we do want that to be permissionless so that anyone can use that, whether it’s an on chain fund, a protocol with DAO to manage their treasury, or just any individual that wants to set up and manage their own DeFi strategies and portfolio. But in order to do that and in order to give the flexibility, we obviously need to integrate with a number of protocols because we effectively would use their products as building blocks. Sorry. Yeah, we’d use their products as building blocks. So that could be GLP directly, or we’re partnered also with Vaultka to integrate their strategies. So from our perspective, the more protocols that we can integrate with, then the more options you have for strategy creation. So it’s good for us and good for generating totally unique structured products or strategies. It’s good for our users because they’re going to have a very diverse array of yield opportunities on the platform to choose from.
[00:44:30.070] — Alex
But it’s also good for all the protocols that we’re working with because it effectively creates an easy way for a new use case for their products or a new type of strategy that can be created using their products. It obviously creates, as we hopefully grow our user base and expand our user base, it creates a new route to market and a new set of users that will get exposure to their product. And then ultimately, it will drive TVL into their protocols as well, because once people deposit into our vault, the vault contracts are executing the strategy. And let’s say that’s using GMX, GLP, the contract will be driving TVL into GLP. So it’s like a win win situation. So our strategy or go to market strategy is first off, B2B or protocol to protocol. Gone round the whole of Arbitrum. I think we’ve got 35 to 40 partners that we’re working with. They all get the pitch. It’s something quite unique that we’re doing. They’re quite excited about what we’re doing. So the first thing that we’re going to do is then work on with a number of them to build, co create and collaborate to build some bolts with specific strategies using their products, which will be like our first rollouts, which is coming with our V2 that’s actually very close now in the coming month, maybe weeks.
[00:45:52.780] — Alex
And really showcasing the power of what we can do at Factor and the flexibility and potential of the products of a number of our partners. Once we’ve done that, then yeah, we open it up. We obviously look to create awareness for the public as the next phase of the go to market, yield marketplace, come and find the best yields that fit with your risk tolerance, build your own portfolio. And yeah, long, long term, we hope that means that we can onboard not only some big institutional level funds on chain, but also a whole load of new people that can come and use DeFi in an intuitive and easy manner that’s going to be productive and secure and profitable for them as well. Thank you.
[00:46:38.400] — Host — Moonlight
Very much, Alex, BD lead of FactorDAO for sharing more details about how to grow the market of FactorDAO and also telling us why partner with so many different protocols. I wonder if Kurapika would like to add any additional information?
[00:46:56.660] — Kurapika
No, we actually just super excited to come up with V2 later this Q and to really allow all these building blocks to come into place. And again, with things like the V2 from GMX and all the innovations that are available on Arbitrum and beyond to really be accessible to all the DeFi natives and you want to join every day.
[00:47:23.740] — Host — Moonlight
Brilliant. Thank you so much for sharing with us. And we are going to go to our round 4, which is to wrap up this session and also ask in each of our project teams recent events and future plans as well. Next, we are going to bring the microphone to Jonezee from GMX. Could you please share any upcoming GMX V2 upgrade with us? Thank you. I would be.
[00:47:51.840] — Jonezee
I would Happy to, Moonlight. Thanks for the opportunity. I briefly mentioned V2 before and version 2 of GMX will be a significant upgrade to the protocol, and it’s easiest to describe it in contrast to GLP, our current existing liquidity model. For example, with GLP, you have one single multi asset pool where all the assets used for trading on the GMX exchange are in. Instead, with V2, we will have isolated pools for many more different assets. So we’re looking at new untouched markets that we’re currently unable to offer via GMX that will now be available. Those isolated liquidity pools will also have price impact, contrary to the way GLP is currently structured. They will be balanced in terms of funding fees. Gmx currently works with borrow fees, so it doesn’t matter if you go long or go short, you pay a certain borrow fee based on the utilization of the asset you’re borrowing. Reversion too, that will change. You will no longer pay borrow fees, but you will pay funding fees. Now, funding fees is a fairly common mechanism that most people who trade perpetuals will be comfortable with. It’s how most centralized exchanges work as well. It helps balance the open interest and that’s one of the aims we have in mind with this new introduction.
[00:49:29.520] — Jonezee
Fees in general will come down on GMX version 2. We’re looking to offer lower fees both on our spot markets and on the perpetuals markets. For those who have kept up with our recent announcements, you may have seen our big partnership with Chainlink. We are integrating their new low latency Oracles as their launch partner. And very proud to be able to do that because an on chain perp exchange depends on Oracles to a large extent to offer reliable pricing. I think when it comes to the Oracle space, it’s fair to say that Chainlink has the most expertise and is the leading party there. And these new low latency Oracles really are an innovative step when it comes to on chain price oracles. And we’ll offer even more secure pricing and even more tick by tick based pricing. So that offers extra security, extra robustness to the protocol and extra security for traders, which I think is also definitely added value for users. Gmx version 2 will also be offer guaranteed orders. This is also a very important step. And when it comes to on chain trading on a decentralized exchange, you’re working with a blockchain. Blockchains can get crowded when moments of peak hype, peak activity.
[00:51:01.900] — Jonezee
Sometimes the chain gets congested and orders get backlogged a little bit. It can be very frustrating as a trader if your trade doesn’t go through because the blockchain is slightly congested. Now, GMX version 2 has been coded in such a way that we can guarantee order execution. So that should be a thing of the past. And I think particularly for traders who migrate from centralized exchanges to the deck space, it will be very attractive to know that you have the same guarantee of your order going through. It will offer limit orders, market orders similar to how the GLP model currently works, but alongside guaranteed order execution. There will be even lower risk for liquidity providers on GMX V2 because of isolated LP markets, which I think is an additional attractive point for LPs on GMX. So we have a range of big changes coming with V2, and overall we’re really confident that this raises the on chain trading experience to the next level and that it will offer great opportunities for not only our traders but also for the protocols that we work with and the builders that build on our LP pools. Big things coming and a lot of innovation taking place.
[00:52:38.990] — Jonezee
I think that we have our hands full in the rest of the year to fully figure out all the opportunities that GMX V2 offers and together with our partners make even more beautiful functionality for DeFi users on top of all that. I’m very excited about everything that’s coming.
[00:53:01.460] — Host — Moonlight
Thank you so much Jonezee, yes, we’re all very excited about the upcoming GMX V2 upgrades. Thank you for sharing. And next, we are going to bring the question to Timswap, Ameeth and Mimi, their co funders and growth lead over Timeswap. And we also want to learn more about next step for the Timeswap project. Thank you. Let’s see. I think I cannot hear any sound from our Timeswap guest speakers. Let me double check our backstage. Yes, I see that you are waving again, which means you can hear me, right? Yeah. Well, the thing is that right now we could see that both of you are on the stage, but we cannot hear you. So my suggestion is maybe close this app and then come back again and then we’ll bring you up to the stage. We’ll circle back to the tons of later. Okay, I see the account is connected now. Hey, can.
[00:54:12.680] — Ameeth
You hear me? Yes. Awesome. Thank you so much. I think it just got disconnected. So yeah, I think for time’s up, we are essentially looking at expanding to the wider Arbitrum ecosystem to help other projects, let’s say, list the assets in a safe money market either for, let’s say, leveraging, let’s say, for the community or even for, let’s say, earning some yield against assets that they already hold. So overall, pretty much excited to work with other teams. I think we are soon going to be launching some new interesting assets. And then separately, we are also in the functions for, let’s say, adding liquidity, creating pools permissionlessly. Plus, we also have an LN program coming up. So overall, quite excited to, over the next few months, things that are coming up. And yeah, I think on the side note, I’m a big fan of the OKX app. I think both the wallet plus the app is one of the smoothest and the best UX in DeFi. So yeah, kudos for that. And yeah, thank you for this opportunity. Thank you.
[00:55:27.750] — Host — Moonlight
And how about Mimi? Does he want to also add any information? That’s why I don’t see him.
[00:55:34.850] — Ameeth
Yeah, I think he’s got disconnected again. Twitter Space is dragging us again, unfortunately.
[00:55:40.090] — Host — Moonlight
Yeah. Twitter Space is really glitches too often.
[00:55:44.240] — Ameeth
Yeah, no worries. We are looking.
[00:55:47.370] — Host — Moonlight
Forward to Twitter Space upgrade this quarter. Yeah.
[00:55:53.740] — Host — Moonlight
Okay. And next. We’re going to bring my phone to Eric. He’s the Product Lead of Vaultka. Are there any future Development or plans that you’d like to share with the audience? Thank you. Sure.
[00:56:04.420] — Eric
There’s a lot of exciting news for Vaultka, and we have just completed our seed round fundraising of 400K US dollars by 2 VC, which is Meerkat Venture and Rexian in capital. We are very excited for the funding. And moreover, we have our two main products launching on mid May, which will be a gDai 3x leverage and a VLP 3x leverage strategies that will definitely provide a wider spectrum of products for our users. And better still, in mid June, we will be our token launck. Token launch will be a tremendous use of governance utility. So we are excited. And in the future, in the long run, we will develop all LP strategies, as we have mentioned, and to create an LP index with weighing re-balancing. So this would be great for our users to tailor for their risk appetite and different products for them. And subsequently, we want to become the convex of perpetual DEXs. So anytime people think of perpetual DEXs, we will be the one to support their liquidity and to provide value added strategies for them. And eventually, we will also accumulate perpetual DEXs tokens such as GMX tokens, Vela token, and etc.
[00:57:26.210] — Mimi
And ultimately, what Vaultka wants to be is to provide an all suite service such as structured products and index to capture the entire value of perpetual DEXs. So we are very excited and we believe there’s a lot of alpha that users can capture and to take advantage and use our products and look forward to our future development.
[00:57:54.470] — Host — Moonlight
Thank you very much for sharing the details with us. And we’re all looking forward to the future development of Vaultka. Next, we’re going to bring my phone to our guest speakers from FactorDAO — Kurapika and Alex, co founder and BD Lead at FactorDAO. What is the upcoming event and also roadmap for FactorDAO? Thank you.
[00:58:16.640] — Kurapika
Yeah, thank you for.The question. Yeah, because we’re actually super excited because what’s upcoming for Factor is really the full utilization of what Factor envisioned for its front end implementation and liquidity management layer. So Factor is about to launch V2, which composes of several facets. First of all and foremost is Factor Studio, which we elaborated a lot on in this AMA, which really allows the different strategies to be used as components in the structure so anyone can go in. Right now, we’re really working with the partners to optimize the strategy based on their needs. For example, let’s say, Vaultka right now, they have their own vault structure and they have their own implementation of strategies, but they can now go and use the same implementation and combine it together with other features from other DeFi protocols that were not accessible until now, only maybe with complex elements or access or development integrations. Right now, you can just go in, do it in Factor, and propose the strategy and by that diverse your offering. So any protocol, any fund, and any individual can now go and divers their offering by really create a strategy and offer it for active management.
[00:59:43.820] — Kurapika
This is this Factor Studio, which you’re really excited about. But we’re also enabling further features like an SDK that will allow to build on top of Factor and use those facets in order to integrate them directly to a protocol and access all these integrations. We have a lot more coming up and really about to release the testnet as well and the documents that will outline everything I just mentioned. But yeah, we don’t want to steal everyone’s time. Alex, do you have anything to add? No.
[01:00:19.520] — Alex
I think just to say, yeah, super excited about the V2 launch and we’ve got a pretty strategic plan for rolling that out in the coming days and weeks. Definitely keep an eye out for that for all the latest information in the run up to our launch. That is great.
[01:00:37.870] — Host — Moonlight
Thank you, everyone. The time is 1101 AM in East Coast America, New York City
