Welcome to Astro(re)port #9… a look back at Astroport’s top announcements and developments from December 2023.
#1: Meme Season Strikes Astroport - New ATHs
Astroport experienced an unprecedented surge in trading volumes as meme coins took center stage in December. Just six months ago, the protocol processed around $1 million in daily volume. Fast forward to December, and Astroport witnessed a staggering 50x-60x increase, reaching as high as $60 million in daily trading volume. The Sei outpost alone saw an impressive 600x spike.
This surge stress-tested the entire Cosmos ecosystem, challenging various components from bridges to IBC relayers. The influx of traffic even led to temporary issues with RPC nodes, affecting users on Terra, Injective, Sei, and Neutron. However, swift action from contributors, including the deployment of new nodes, helped resolve the challenges. Check out the leading pools on Astroport’s outposts at app.astroport.fi/pools.
#2: ATOM Prop 853 Passes; stkATOM Lands on Astroport
Astroport's Neutron outpost welcomed ~$3.5M of protocol-owned liquidity from the Cosmos Hub to seed the stkATOM/ATOM pool, adding a new dimension to the trading options available on Astroport. Users can now trade or provide liquidity to the stkATOM Passive Concentrated Liquidity (PCL) pool here: neutron.astroport.fi/swap
Stay tuned for upcoming developments, including $PSTAKE incentives!
#3: Persistence Labs and Eclipse Join the Astro Wars
In last month's recap, we covered Neutron, Terra, and Apollo’s participation in the Astro Wars. Now, introducing two new players to the battleground.
On Dec. 22, Persistence Labs announced they’ve acquired a tranche of $ASTRO tokens through an OTC purchase as they formally enter the ASTRO Wars. The acquisition aims to establish deep liquidity for pStakeFinance-issued LSTs like stkATOM on Astroport's Neutron outpost.
Eclipse Fi also declared its participation in the Astro Wars with a tweet on December 12. We’re looking forward to whatever they have planned next.
#4: Eclipse Unveils ATOM/ECLIP Pool – Pioneering Fee Sharing Initiative under Proposal ARC-75
Eclipse Fi, an up and coming leader in modular launch and liquidity solutions, has launched the ATOM / ECLIP pool on Astroport's Neutron outpost, making it the first to implement Proposal ARC-75.
Under ARC-75, up to 10% of Astroport pool swap fees are shared with projects, emphasizing Astroport as the go-to hub for liquidity attraction and token launches. Eclipse Fi's innovative fee-sharing approach offers a new avenue for treasury growth and perpetual swap fee streams.
To learn more about ARC-75 and fee-sharing pools, visit here.
#5 Astroport Reaches 150k Followers on X
Celebrating a community milestone, Astroport hit150k followers on X, formerly known as Twitter. The growing support underscores Astroport's increasing influence and engagement within the Cosmos and broader crypto community.
#6 Astroport Activates Fee Sharing on Terra Outpost
Astroport takes a significant step forward by implementing fee sharing on its Terra outpost, extending benefits to xASTRO holders. In collaboration with @terra_money's FeeShare module, Astroport activates this feature through the approval of Proposal ARC-112.
With ARC-112, a portion of Terra transaction fees will flow back to the $xASTRO staking pool. The proposal carries an enticing bonus: TFL pledges to match 50% of the fees generated until January 2025, resulting in a remarkable 75% fee share on Astroport for over a year.
#7 Apollo Goes Live on Neutron Featuring Astroport Vaults
Apollo Vaults on Neutron officially went live, offering users the opportunity to explore new yield farming possibilities. With a primary Vault focusing on the 7-day locked wstETH/ETH LP, Apollo Vaults are set to contribute to the growth of Astroport's ecosystem. Check out their vault opportunities now at apollo.farm.
#8 New Astroport Bridge Powered by SkipAPI
Astroport takes a leap forward with its latest SkipAPI-powered bridge, providing users with expanded access to diverse assets and chains. With robust features like full Cosmos-to-Cosmos IBC bridge capabilities and a refined user interface, this integration signifies a significant enhancement in the Astroport user experience. Try the bridge at app.astroport.fi/bridge
#9 XYK Pools on Neutron and Injective Upgraded, Rewards Migrated to PCL Pools
The Astroport community endorsed proposals to upgrade XYK pools on Neutron and Injective to Passive Concentrated Liquidity (PCL) pools. This strategic move aims to leverage the benefits of PCL, providing users with enhanced capital efficiency and lower slippage.
The following pools have been upgraded on Neutron: AXL-NTRN, ASTRO-USDC.axl, MARS-USDC.axl, ASTRO-NTRN, wstETH-USDC.axl, axlWETH-USDC.axl, and NTRN-USDT.axl
The following pools have been upgraded on Injective: INJ-USDT, ASTRO-USDT and ATOM-USDT.
Looking ahead
After the successful passage of ARC-100, Astroport contributors are actively working on migrating Astroport’s governance to Neutron. After that, vxASTRO is expected to launch, and the first shots in the Astro Wars will begin. Learn more about what’s coming here.
This concludes Astroport’s monthly recap transmission.
See you all on-chain at app.astroport.fi!
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DISCLAIMER
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.
