Welcome to Issue #3 of Astro(re)port, a monthly lookback at the biggest news, metrics and events on Astroport.
Upcoming Neutron mainnet launch to nearly 2x Astroport TVL
With an active testnet deployment on Neutron, Astroport is ready to host liquidity on the Cosmos’ first smart contract platform secured by Cosmos Hub (ATOM).
As part of Neutron’s launch sequence, the protocol recently closed a liquid auction, which attracted more than $7.5 million in $ATOM & $USDC deposits. All deposits will be matched with $NTRN for ~$15m in liquidity that's destined for Astroport (see more on ARC-57 below). With Neutron's mainnet next week, that means Astroport's TVL will roughly 2x overnight.
Follow Astroport on Twitter and turn notifications on to be among the first to swap or LP on Neutron.
Astroport lands on Sei Testnet
Astroport deployed its contracts on Sei Testnet on May 2. Over the subsequent 2 weeks, more than 100,000 wallet addresses interacted with the dapp as astronauts completed testnet missions from Sei and Blocked Protocol. These missions are helping harden the network before the upcoming mainnet launch where Astroport will be among Sei’s first AMMs. Testnet missions from Blocked are still live for the next 40 hours (see Testnet Mission 8)!
Last call to claim your $ASTRO airdrop
Anyone who held ASTRO tokens on Terra Classic as of two pre-published snapshot dates qualifies for the ASTRO airdrop on Terra, which kicked off nearly 1 year ago. If you qualify but haven't claimed your $ASTRO airdrop yet, now's the time! Airdrop claims will end in approx. 6 days.
After the claiming period ends, governance could propose returning all unclaimed rewards to the Astroport treasury. Enter the claiming chamber to see if you’re eligible for ASTRO now: https://app.astroport.fi/airdrop
The Astral Assembly
The Astral Assembly took up 5 on-chain votes over the past month – 4 of which passed with one still pending.
Below, are more details on each proposal below.
ARC-56: Fund Bounty to Finalize Metastable Pool Type (link)
This follow-up proposal to ARC-47 funded a bounty to finalize the implementation of a metastable pool type on Astroport. Since it passed, devs everywhere are invited to implement metastable pools on Astroport by July 13 to claim a bounty worth 80,000 ASTRO.
Designed for LSDs, metastable pools would accommodate tokens like $stLUNA and $stINJ that increase their value against the base asset over time. That would help Astroport become THE place in the Cosmos to park your LSDs. This is not just an upgrade; it's a transformation of the platform. Get full details on the bounty here.
ARC-57: Astroport on Neutron (link)
This non-binding signaling proposal assessed support for deploying an instance of the Astroport smart contract system onto Neutron at or shortly after Neutron's genesis. It passed without a single no vote, and the proposal ensures ongoing synergies between Astroport and Neutron by sharing rewards across the protocols.
Specifically, the Astroport satellite on Neutron will donate in perpetuity 10% of accrued Maker fees to the Neutron DAO's on-chain Treasury, and the Neutron DAO would commit to:
- Incentivize select Astroport pools with NTRN rewards
- Grant governance power to Astroport NTRN LPs
- Lock the liquidity obtained during its Token Generation Event into Astroport's satellite on Neutron
That final point means Astroport’s TVL should nearly 2x with Neutron’s mainnet launch next week. And in the words of Delphi Labs Founder and CTO Luke Saunders, these synergies could help Astroport become a schelling point for projects launching on Neutron as they could bootstrap and incentivize liquidity for their own tokens. This could result in Neutron being an attractive place to launch a project as it features good UX and minimal liquidity fragmentation.
ARC-58: Connect the stINJ-INJ Dual Rewards Proxy to the Generator (link)
This proposal connected the INJ dual reward staking contracts for stINJ-INJ to the Generator contract on Injective mainnet. With its execution, stINJ-INJ stakers on the Injective Generator are eligible for applicable dual rewards.
ARC-60: Approve ROAR-LUNA Pool for Dual Incentives (link)
This proposal added Lion DAO’s leading pool by volume on Terra, ROAR-LUNA, to the list of Astroport pools that are eligible for ASTRO token emission incentives. Despite some controversy over allocating emissions to what some view as a “meme” coin, the vote passed with overwhelming support (77.31%).
🚨 Ongoing vote on ARC-61: Set Up the Second Year of ASTRO Emissions on Terra
ARC-61 would create an ASTRO vesting schedule for the second year of Generator emissions on Terra. As proposed in a tokenomics post from December 2021, each year, the total amount of ASTRO distributed through Generator emissions should be 20.408% lower than the previous year’s emissions.
Astroport contributor, Stefan, points out the Assembly can choose to change the amount of ASTRO that’s scheduled to be distributed on Terra further down the line. In fact, the 79,591,840 ASTRO is meant to be distributed between Terra, Injective and other satellite deployments.
The proposal doesn’t yet allocate ASTRO to Injective right away because the Astroport deployment on Injective has several months of emissions runaway and it’s unclear how much more ASTRO should be allocated for that satellite. Learn more now, then cast your vote in the Astral Assembly!
Mirrors deployed!
The cosmos can be unpredictable, and astronauts must be prepared for any eventuality. For example, the leading frontend for Astroport is currently hosted at Astroport.fi – a domain name controlled by the earth-bound country of Finland.
If Finland were to prohibit crypto trading/ownership, all .fi domains could be at risk. That's why Astroport contributors have taken proactive steps towards decentralizing even the protocol’s leading front-ends by launching mirrors for https://app.astroport.fi on two new domains:
If one domain is offline or running slow, try another! To ensure your safety, refer to the official Astroport documentation for a list of community-approved mirrors. Then, bookmark your favorite Astroport front-ends so you always have access to the mothership!
How to set up a Hermes IBC Relayer for Astroport
In a brand new technical guide, you can find step-by-step instructions on the Hermes IBC Relayer configuration process and see examples using Terra and Injective.
With full support for Hermes relayers, Astroport is well-equipped to navigate its multi-chain future with:
- The ability to support relaying between multiple chains
- Cross-chain governance, token transfers, and fee collection
- A seamlessly connected DeFi ecosystem
With Astroport expanding to Sei and Neutron, you can also learn how to extend your Hermes configuration and support multiple chains simultaneously. Get started now.
Leap Wallet prepped for Astroport on Sei
Already live on Cosmos and Near, Leap Wallet aims to make web3 interactions seamless. That includes supporting the upcoming mainnet deployment of Astroport on Sei on both desktop and mobile 🦾
Audit complete!
Crypto auditing firm, Oak Security, which has audited more than 100+ projects that have a combined market cap of over $15 billion, has just completed a new Astroport audit. This time, the firm looked at Astroport's LP token balance tracking feature. It uncovered no minor, major or critical issues. Four informational issues were uncovered and resolved, and the full audit is available on Github.
Skip-powered MEV protection live on Terra Testnet
Sandwiching & frontrunning extracts money from crypto traders everywhere. Now, Astrochad is fighting back with a testnet deployment of MEV protection on Terra.
Powered by Skip Protocol, MEV protection attempts to prevent sandwiching or front-running of your trades. Rest assured that your trading experience won’t be impacted. If Skip can’t save you money, you won’t pay a dime.
If, however, Skip CAN save you money you’ll pay more gas, which is automatically rebated with every applicable trade.
It’s a win-win: less money going to extractive MEV bots and more money going into your wallet. Want to help test the deployment before a mainnet launch? Simply visit app.astroport.fi and select the Terra testnet.
Find a bug? Report it in the Astroport Discord. Then, get ready for more MEV-destroying testnet (+ mainnet) deployments soon!
Did you know?
Astroport breaks out APYs by source? Simply voyage to the pools page, choose your desired network (Terra or Injective) and hover over any listed APY to see how those rewards are generated. Sources could include trading fees and dual rewards (i.e. INJ, ASTRO, ROAR, etc.).
Astroport’s first flippening: Trading volume on Injective flips Terra
As first reported by the pseudonymous on-chain sleuth John Galt, trading volume on Injective flipped Terra on May 15 for the first time since Astroport went cross-chain. The second-closest day came on April 17, when the Injective deployment did 84% of Terra's volume. With two more mainnet deployments underway on Neutron and Sei, volume battles are poised to get even more exciting.
The future awaits!
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DISCLAIMER
Remember, Terra, Injective and Astroport are experimental technologies. This article does not constitute investment advice and is subject to and limited by the Astroport disclaimers, which you should review before interacting with the protocol.
