Welcome to Issue #2 of Astro(re)port, a monthly lookback at the biggest news, metrics and events on Astroport.
Astroport Metrics
Daily trading volume on Astroport averaged $256,519,627 million in April. That’s up 6.75% over March, and Astroport’s total value locked (TVL) now exceeds $1.65 billion — an increase of 13%+ over March.
The rise of the ASTRO Wars
Across the Terra galaxy, third-party protocols are already stuffing their warchests with xASTRO as they vie to dominate metagovernance over the Astroport Protocol. In this epic article, Astrochad breaks down what the wars are and why they matter. Here’s the tl;dr:
Like glowing orbs of limitless energy, staked ASTRO tokens grant holders complete authority over Terra’s mightiest DEX, Astroport. Protocols and traders throughout the galaxy are hoarding ASTRO today so they can use their power to direct the emission of new ASTRO tokens (and their accompanying governance power) tomorrow.
Several of the protocols participating in the ASTRO Wars have already kicked off token launches and/or lockdrops designed to fill their coffers with xASTRO.
Check out The rise of the ASTRO Wars for more. And hear straight from the protocols themselves with this Twitter Space featuring all the leading warriors: ASTRO Wars Roundtable with Apollo, Orion, Reactor, Retrograde and Spec.
The Astral Assembly
The Astral Assembly officially launched on April 6 and Astroport’s first governance vote went live on April 11. Since then, the Astral Assembly has decided on 7 improvement proposals — 6 of which passed.
Here are more details on each proposal below:
- Transfer Astroport Contract Parameter Control to Assembly
Proposal to transfer control over the adjustable parameters of four core Astroport smart contracts from the Delphi Labs multisig to the Astral Assembly. This was a prerequisite to processing all other binding AIPs proposed to date. - Scale Amplification for the bLUNA-LUNA Pool
Proposal to scale the amplification for the bLUNA/LUNA stableswap from 10 to 30 over one week. - LunaX/Luna Pool Addition to Astroport with Dual Incentives
Add LunaX/Luna pool to Astroport and reward LPs with dual incentives (SD and ASTRO token emissions). This vote failed with nearly 1,200 participants and was resubmitted with more favorable terms for Astroport LPs. - ORNE/UST Pool Addition to Astroport with Dual Incentives
Add a ORNE/UST pool to Astroport and reward LPs with dual incentives (ORNE and ASTRO token emissions). - SAYVE/UST Pool Addition to Astroport with Dual Incentives
Add dual incentives to SAYVE/UST pool on Astroport (SAYVE and ASTRO token emissions). - 🔜 Add ASTRO Emissions for the MARS-UST pool
Add ASTRO emissions to the MARS-UST pool. - LunaX-Luna Pool Addition to Astroport with Dual Incentives
Add LunaX-Luna pool to Astroport and reward LPs with dual incentives (SD and ASTRO token emissions).
🚨 Ongoing vote: While the proposal to integrate dual rewards for the LUNAX-LUNA pool passed (№7 above), a second proposal must be accepted by the Astral Assembly before it can be implemented. That vote is going on now at https://app.astroport.fi/governance. Learn more here.
Astroport Features
Harnessing the full power of IBC, Astroport now supports three native cross-chain tokens:
✦ Cosmos Hub ($ATOM)
✦ Osmosis ($OSMO)
✦ Secret ($SCRT)
Pool and swap IBC assets now at http://astroport.fi or learn more: https://astroport.medium.com/astroport-adds-support-for-ibc-and-cosmos-based-tokens-4f210ef0d58a
Astroport Forum’s Most Active Posts
The Top 4 pending forum posts in April:
- ARC-14: Incentivise Prism Pools with ASTRO (9 posts)
- ARC-12: Astroport Separate UI for Limit Orders and Stop Losses (7 posts)
- ARC-13: gOHM-UST Pool Addition to Astroport with Dual Incentives (3 posts)
- ARC-15: Increase ASTRO-UST Incentives (NEW)
Creative Forum Post of the Month
A new pool type for pairs like stLuna-Luna?
Archkiwi proposes creating a new pool type for closely-pegged assets that diverge over time. From his post:
Currently pools such as stLuna-Luna use the stableswap pool. This is fine at the starting when they both are pegged close to 1:1. But as time goes on the value of assets such as stLuna increases when compared to the value of assets such as Luna and they depeg away from the 1:1 ratio.
Currently stLuna is worth 1.023652 Luna but it’s actually pegged to 1 Luna. What this means is that there is an automatic 2.37% arbitrage if the pool was balanced. But since there is a 2.37% arbitrage the pool is highly unbalanced as arbitragers are constantly buying stLuna from here.
The stLuna-Luna pool currently contains only 950K stLuna for 1.17M Luna. This pool is only going to get unbalanced as time goes on because the value of stLuna will always be increasing when compared to the value of Luna.
I suggest making a new type of pool for these types of assets. It will be using the standard XYK pool formula but with a lower fee. Currently I am suggesting a 0.1% fee out of which 0.05% goes to the LP and 0.05% to the Astro Assembly (the fee is subject to discussion). While this will provide worst swaps when compared to the stableswap pools (the liquidity is not as concentrated) the fees will still be lower than using the standard 0.3% XYK pool.
I think this is an overall positive change to the LP’s while also solving the current problem of using stableswap pools when one asset is increasing in value creating highly unbalanced pools.
Lido and Astroport contributor Larry0x chime in with some interesting solutions here: https://forum.astroport.fi/t/thoughts-on-a-new-type-of-pool-for-assets-such-has-stluna-luna/406/2
Astroport for Devs
Contributors have been hard at work improving the Astroport Docs and writing technical guides for advanced users. Here’s the latest:
Upgrades to the Mothership
Due to a shorter blocktime on Terra than projected upon protocol launch, the amount of $ASTRO tokens per block within the Generator was increased from 15 to 19.02 on April 6. More ASTRO for all! 🎁
Last month, Astroport also added new pools for several pairs:
- bATOM/UST
- KNTC/UST
- kUST/UST
- whSD/UST pairs.
And contributors deployed UI updates for:
- Proposal votes addresses
- Pagination for proposal votes
- xAstro:Astro ratios on Governance overview
- Exchange rate calculations on swap page
- Special Token Behaviour Section (STT Sales Tax)
- Astro Emissions in Rewards Center
Astroport Community
Through Astroport bounties and volunteer efforts, community members have been working hard to translate the web application at astroport.fi into foreign languages. Languages include:
- Arabic
- French
- Hindi
- Mandarin
- Portuguese
- Spanish
- Thai
- Turkish
- Vietnamese
After the translations are verified, they’ll be added to the main application at astroport.fi.
Quick hits
The future awaits!
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DISCLAIMER
This article does not constitute investment advice. Before interacting with Astroport, review the project disclaimers here.
