Welcome to Astro(re)port #8… a look back at Astroport’s top announcements and developments from November 2023.
#1: Proposal aims to revamp $ASTRO tokenomics and introduce $vxASTRO
A new signaling proposal (ARC-102) is gauging community interest in revamping ASTRO’s tokenomics as follows:
- Users would have the ability to lock up their $ASTRO on a two-week rolling basis for $vxASTRO
- $vxASTRO holders would have the exclusive right to vote on future $ASTRO emissions
- Third-party protocols and individuals could reward $vxASTRO voters by depositing “tributes” to specific pools in a voting rewards marketplace. Those tributes would then go exclusively to any vxASTRO holder who votes for the pools that received tributes
This approach has several benefits over Astroport’s original $vxASTRO design, which was previously under development on what’s now Terra Classic. Specifically, it:
- Eliminates long token lockups
- Prevents centralization of emissions decisions (via boosted voting power)
- Synergizes with the tributes marketplace, and creates a new potential stream of rewards for $vxASTRO holders
- Offers additional utility for $ASTRO tokens
Learn more here or join the conversation in the forums. Then, look for a vote on the proposed tokenomics in the coming days/weeks. If approved, Astroport contributors would begin implementing necessary changes to upgrade ASTRO at a later date.
#2: TFL deploys ~$10 million on Astroport’s Terra outpost
On Earth Date November 14, Terraform Labs (TFL) announced it had deployed ~$10 million worth of liquidity in 3 Astroport pools on Terra. Specifically, they deployed:
- $4 million in the LUNA-USDC.axl pool
- $3 million in the LUNA-WBTC pool
- $3 million in the LUNA-WETH pool
The liquidity was deployed in Astroport’s new passive concentrated liquidity (PCL) pools, which offer 2x-3x better efficiency than standard XYK pools.
In fact, the pools where TFL deposited are offering the most efficient swap rates of any DEX in Cosmos for those assets, and the move positions Terra as the home of the deepest liquidity for blue chip assets like ETH and BTC in the Cosmos.
A new Flipside dashboard shows just how impactful the deployment has been with Astroport-based transactions on Terra spiking as much as 4x after the deployment (as shown in red below).
#3: AstroWars re-ignited
TFL isn’t merely deploying liquidity on Astroport, they’re acquiring ASTRO as well. On Nov. 16, the organization announced that it has purchased more 22 million ASTRO tokens in an OTC deal. TFL joins several other DAOs and protocols that have publicly announced they own or are planning to acquire ASTRO including Neutron, Eclipse Fi and ApolloDAO.
The AstroWars take on a new meaning in Astroport's new cross-chain design. Whereas previously it was Terra protocols fighting to incentivise their token, now it's also L1 blockchains themselves that will want to make sure their outpost has the most liquidity.
That means every chain where Astroport has an outpost could become a candidate to accumulate ASTRO by buying or farming the token. Then, those L1s could lock that ASTRO for vxASTRO and vote to incentive their native token pools or the pools of leading protocols on their chains – all while potentially collecting additional rewards in the form of tributes. Hear thoughts on the design from Astroport and Neutron contributors in a recent X Space or check out this article now: vxASTRO 2.0 Proposal: Return of the AstroWars.
#4: Astroport trading volumes surge
Alongside increased activity on Terra, volume on Astroport’s Neutron deployment has spiked significantly. It will be interesting to see if that trend continues as governance converts more and more of Astroport’s pools from XYK to PCL. The new pools typically offer as much as 2x-3x better trade efficiency – even when they hold less liquidity.
#5: Astroport.fi deploys a new “token navigator”
With the token navigator page, astronauts now have a single place to discover and explore all the tokens trading on any Astroport deployment including Neutron, Terra, Injective and Sei. At a glance, you can see each token's:
- Balance (in your wallet)
Then, you can click the dual arrows to swap those gems. Access the Token Navigator now and bookmark it for future access.
#6: $3.5 million in liquidity inbound on Astroport’s stkATOM/ATOM pool
On Earth Date November 23, a proposal went live on Cosmos Hub to provide 350k ATOM worth of liquidity on a new stkATOM/ATOM pool on Astroport Neutron. Voters approved the proposal on Tuesday, which means about $3.5 million in ATOM liquidity should soon make its way into Astroport pools!
#7: Astroport x Telegram
A new intergalactic hub for all things Astroport and Cosmos arrived on Telegram on November 17. Join it now to connect with traders, contributors and LPs in a group chat as we navigate the ever-changing Cosmos together.
#8: AstroBytes (Small, munchable updates from throughout the Cosmoverse)
1. Astronauts can now explore yields on Astroport directly on DeFiLlama. Navigate to Astroport’s DeFiLlama page, then scroll down and select the “Yield” tab to see it in action.
2. Coinhall has added support for Astroport’s new PCL pools! Now you can use their UI for a single place to swap between any token on Terra and/or bridge from other Cosmos chains. Learn more.
This concludes Astroport’s monthly recap transmission.
See you all on-chain!
Remember, Astroport, Injective, Neutron, Sei, and Terra 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.