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Oh you’re into those #NFT things everyones going on about? So you’ve seen the litepaper update by @NFThub for $gNFT?

If you’re not paying attention to what we’re up to already… you’re doing it wrong. #NFTs #NFTartist #NFTCommunity #nftcollectors

https://medium.com/nfthub/gnft-litepaper-update-d81c23f31576

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1) I really like experiments. Especially the ones which can disrupt what we are currently used to. DeFi is the best example - an attempt to disrupt TradFi with a code. AMMs are already disrupting centralized exchanges and constantly evolve. What about the final form of AMM?
2) This is what @IntegralHQ tries to achieve - the final form of AMM, the one that eats other exchanges' liquidity. Sounds like a dream, doesn't it? So let's dive into it deeper. It's complex and I won't pretend I fully understand all the technical docs but I'll try to ELI5.
3) How will @IntegralHQ suck in all the liquidity? Technically it won't. But it will act as if it would have. This is due to its unique combination of AMM with orderbook (OB-AMM design). It allows them to mirror liquidity from other exchanges to become the cheapest one to trade.
4) Let's break down the term "liquidty" here. It combines 2 concepts: - Capital: the actual amount of money liquidity providers (LP) put in OB or AMM - Depth: the way how Capital is used for market making, which determines the slippage on the trades (OB depth, AMM shape)
5) After $UNI v3 announcement you should be familiar with the concept of concentrated liquidity. It means, that LPs can concentrate their capital for a given price range to create a bigger depth = low slippage even for big trades. Integral does a similar thing but automatically.
6) To achieve its first target, 3x Binance spot market liquidity, @IntegralHQ just needs to know what Binance's OB looks like (Depth). LPs supply the Capital to Integral which is allocated according to 3x Depth. This is the essence of automated concentrated liquidity at Integral.
7) The innovation here is to de-couple Depth and Capital in OB-AMM design. It allows Integral to achieve the same Depth with much less Capital. They can do it with any exchange. This is what they mean by "continuous vampire attack until all world liquidity is integrated by us".
8) Concentrated liquidity at Integral means very low slippage on large trades = lower total trading costs. Below table summarises total trading costs for $100k trade on Uniswap, Binance and Integral. Differences are substantial and very impressive, aren't they?
9) So whales should be happy with trading on Integral. What about average users? At the beginning, only large trades can beat other exchanges (>$30k) due to high gas costs on Ethereum. The Team claims to beat the world in small trades too when they move onto L2 later this year.
10) There are a couple of catches for traders though: - They have to wait an extra 5 minutes on top of the usual time to mine transaction on Ethereum. - The order is executed at the average Uniswap price over 5 minutes (TWAP).
11) From UX perspective it works this way: 1. You click "swap" button to send the order. 2. Order gets into a queue and waits 5 minutes for execution. 3. Order is executed at 5-minute TWAP + mining time. Why is this friction needed?
12) The trade delay mechanism is implemented to protect LPs from impermanent loss (IL). I explained IL in detail in one of my threads where I focused on mitigation strategies. But my definition is correct only for traditional AMMs which follow x*y=k curve.
korpi @korpi872) Let's start with a quick definition of IL. It's a difference in value between your current assets in liquidity pool (LP) and assets you would have if you hadn't added them to LP. In other words: IL = current assets at current prices - initial assets at current prices twitter.com
13) But @IntegralHQ is not a traditional AMM. Price is not the outcome of the ratio of two tokens in the pool. Instead it uses price oracle aka 5-min Uniswap TWAP. This AMM design doesn't have "paper hands" as I mocked at traditional AMMs earlier.
korpi @korpi875) This auto-rebalancing also means that AMM has paper hands - each price increase in ETH results in selling a bit of your ETH to DAI. That's why your initial assets at current prices would be worth more outside of LP - you would hodl ETH without selling on the way up. twitter.com
14) At Integral even if you (as LP) have less ETH when ETH price goes up, you have sold them at fairer price than in traditional AMM. But suprisingly, you could also have more ETH when ETH price goes up. Something unheard of in traditional AMM.
korpi @korpi874) So if price of token x (e.g. ETH) goes up and y (e.g. DAI) remains stable, your porfolio (LP) is rebalanced by selling ETH to DAI so that value of ETH equals value of DAI. As a result, you will have less ETH and more DAI in LP but value of both assets will be the same. twitter.com
15) How can this happen? It's called Cyclical Imbalance (CI) and means that pool ratio will not be fixed at 50:50 but fluctuate cyclically around it as LPs are incentivized to bound it between 40% and 60% at all times. CI is needed to achieve concentrated liquidity.
16) CI can affect LPs in a short term. Positively or negatively. For example, you deposit 50:50 into ETH-USD pool and ETH price goes up. - Positive CI: pool has > 50% ETH = profit - Negative CI: pool has < 50% ETH = loss Profit or loss are only realized at withdrawal.
17) If you stay longer in a pool, you will almost surely see the pool ratio revert to your initial ratio which means you will at least break-even as LP. At least because you will also earn fees, farming rewards and have ETH exposure (your benchmark return).
18) It's important to emphasise that CI is different from IL. With IL LPs are guaranteed to lose (if not actively mitigated). CI can cause short-term profits or losses but due its cyclical nature, profits/losses will be cancelled when CI eventually reverts to LP's initial ratio.
19) OK. Let's sum up the core elements of OB-AMM: 1. Price oracle aka 5-min Uniswap TWAP. 2. Trade delay. 3. Concentrated liquidity (LPs' Capital follows OB Depth modified by leverage factor) It results in extremely low slippage for traders and no IL for LPs.
20) Although OB-AMM design is technically complex, you don't really need to understand all the details. You can just try it now on testnet or when it goes live on 29.03. This will also be a great opportunity to farm $ITGR token by LPing or trading.
Professor J.E.Y. @ProfessorJEY1\ UPDATE: @IntegralHQ Farming launches Monday 11:30 AM ET, Mar 29th. The LP Program will award 30% ITGR over 12 weeks! In the 1st week, 5% of $ITGR supply will be distributed to farmers-- the highest amount of all 12 weeks! More info: #DeFi #AMM #DEX twitter.com
21) Is it safe? Well, nothing is safe in DeFi. This is still a highly experimental space. That's also why it's so rewarding if you take a risk. But it's definitely not a degen-risk play. The product has gone through 9 months of careful design & development and 3 completed audits.
22) The @IntegralHQ Team consists of exerts working earlier with top projects like ConsenSys, Compound or Maker. Advisors are top DeFi figures like @rleshner, @tarunchitra, Olaf Carlson-Wee from @polychaincap, @im_manderson and @pythianism. Sounds good, doesn't it?
23) If you want to learn more about @IntegralHQ dive into the below resources: - Webpage: http://resist.integral.link - Discord: http://discord.gg/GJYCF55Tb6
24) If you find this thread useful, like and retweet it to spread the word about potential last exchange! Thanks!

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korpi
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1/5 Two hours ago, someone sold a huge amount of social tokens issued on Roll platform. As a result, an attacker earned almost 3k ETH ($5.7M), of which 700 have already been sent to Tornado Cash. Most of social token prices dumped as a result.
2/5 Affected tokens include: - WHALE - MORK - JULIEN - CHERRY - FWB - KARMA - ALEX - KERMAN - SKULL - HUE - FIRST
3/5 The victim’s address belongs to Roll, as it not only received social tokens from Roll’ multisig but was also sponsored by Roll multisig owners.
4/5 The victim who lost all their social tokens gave approvals so that an exploiter could transferFrom() their tokens. This fact indicates a possible private key compromise or inside job.
5/5 Currently, the attacker has sold all the stolen tokens, but it remains unclear whether they have access to other elements of Roll’s infrastructure. In addition, there are still some little-known tokens on the victim’s address that can still be liquidated.

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Igor Igamberdiev

1/5

Two hours ago, someone sold a huge amount of social tokens issued on Roll platform.

As a result, an attacker earned almost 3k ETH ($5.7M), of which 700 have already been sent to Tornado Cash.

Most of social token prices dumped as a result.

My Notes:

Select to add to your #gallery:

1/5

Two hours ago, someone sold a huge amount of social tokens issued on Roll platform.

As a result, an attacker earned almost 3k ETH ($5.7M), of which 700 have already been sent to Tornado Cash.

Most of social token prices dumped as a result.

Read Thread
**TIME 2 SET THE RECORD STRAIGHT @BurntBanksy ** 1/13 I woke up to yet another article by the @guardian this time claiming that @BurntBanksy were the 1st to burn RL art 2 turn it into an NFT without crediting the OGs that did that more than a year ago! It´s becoming a trend...
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2/13 @svc_hb , @ajsmale , & I extensively explored that theme more than a year ago. Not for a cheap cash grab, but to demonstrate the power & validity of #NFT We actually believe in #cryptoart, helped build its foundations, & are not a bunch of opportunists.
3/13 @burntbanksy, the only thing u can take credit 4 is burning a Banksy, nothing more. Time 2 set the record straight or be forever known as a copycat & an imposter. I heavily document EVERYTHING I do; so here follows the series of posts about our Art burning experiments:
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4/13 The 1st NFT-ART, yeah that´s how it´s called, "Bird on Gold | Digital Phoenix" was minted on @SuperRare & bought by @WhaleShark_Pro . U can scan it with @ArtiviveApp to see its destruction in #AR https://superrare.co/artwork-v2/bird-on-gold-%7C-digital-phoenix-6257 @cent Article | https://beta.cent.co/skeenee/+d1gwq6
5/13 My partner in crime @svc_hb even built a @cryptovoxels virtual gallery "Gallery on fire" dedicated to the matter. You can visit it here | https://www.cryptovoxels.com/play?coords=SW@215E,401N
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6/13 After that, we pushed things further & came up with the concept of NFT +/- ART, leaving to the winner of the auction the decision to receive the physical painting or to have it burnt to render the NFT unique. @cent article | https://beta.cent.co/skeenee/+95mlcd
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7/13 The 1st NFT+/-ART, "Bird On Gold | Robin", was minted on @SuperRare & also bought by @WhaleShark_Pro who decided to save the bird & keep the original. https://superrare.co/artwork-v2/bird-on-gold-%7C-robin-7296 @cent article | https://beta.cent.co/skeenee/+vwpaq2
8/13 Two of the next 3 NFT+/-ART "Hummingbirds on death row" were not so fortunate. Minted on @SuperRare & bought by @svc_hb , @ModeratsArt , & @johanunger . See how easy it is 2 credit people @burntbanksy @cent article| https://beta.cent.co/skeenee/+5jrv7f NFTs| https://superrare.co/skeenee
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9/13 Then to push things even further, we sold 3 paintings ON FIRE linked to a short story written by my collaborator @ajsmale fully stored on-chain tx to @conlan #NFT scribe. They are also exhibited in @svc_hb Gallery on Fire. @cent article 4 info | https://beta.cent.co/skeenee/+6nq8wl
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10/13 First painting of the series "A Fiery Passion 1/3 | Desire" was minted on @SuperRare & bought by @WhaleShark_Pro https://superrare.co/artwork-v2/a-fiery-passion-1-3-%7C-desire-7129 @cent article & @ajsmale short | https://beta.cent.co/skeenee/+6nq8wl
11/13 Second painting of the Series "A Fiery Passion 2/3: Lust" was minted on @SuperRare & also bought by @WhaleShark_Pro https://superrare.co/artwork-v2/a-fiery-passion-2-3-%7C-lust-7389 @cent article & @ajsmale short | https://beta.cent.co/skeenee/+nv12mg
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12/13 Third & final painting of the Series "A Fiery Passion 3/3: Romance" was minted on @SuperRare & once again bought by @WhaleShark_Pro :) https://superrare.co/artwork-v2/a-fiery-passion-3-3-%7C-romance-7453 @cent article & @ajsmale short | https://beta.cent.co/skeenee/+bdjcee
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13/13 Sry for the wall of tweets! But this needed to be said, credit needs 2 be given when due! The advantage of the blockchain is that everything we do is PERMANENT & tracable So @guardian & @burntbanksy, contact me if you care 2 set the record straight, I won´t let this one go

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Skeenee.eth | $SKULL

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