sometimes a dev prev coinbase, cofounder frame (acquired), head of protocol abstract
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2 proposals i want to make
1. limit orders for branches. branches are selling out extremely fast and will add limit orders so ppl dont have to be terminally online to acquire a branch
it would be an open onchain orderbook where your order sits and would execute a branch buy once the dutch auction hits the specified price (keeper run, so it is fcfs best attempt)
2. begin charter auctions. so far, there have been 18 charters burned and an immense interest from people wanting to purchase a charter. we want to grow the standard reserve but do it in a deliberate way
to keep dilution manageable, we will begin with 1 charter per auction at the same cadence as the branch auctions. to offset dilution of the charter auctions, we will be decreasing total branches per auction to 40
we will monitor the data closely and make changes if necessary
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most staking ends the same way, constant yield where the protocol dilutes to infinity with newly minted tokens
what if staking apr was set by market demand and premiums were funded by economic growth of a protocol?
its about to be a reality soon, s-bills, a new form of staking
S-Bills, a new type of staking.
Every S-Bill is a non-dilutive, variable APR form of staking. Any holder can benefit from the economic growth of the Reserve.
Contracts are going into security audits this week.
Read about it here: standardreserve.xyz/app/stak…
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btw we added dark mode, so you can all stop asking for it now
Protocol v1.1 updates go live today. There are 3 specific changes:
1. There are 2 license auctions a day, 12H durations at 50 branches each. There is still a limit of 3 branches per 24H per charter.
2. Faster price curves, auction half life is now 2H.
3. Bid-side only POL. The POL vault used to pair both ETH and token side liquidity. It will now only pair bid side liquidity by buying tokens off the market and sending those tokens to a new protocol owned incentives vault.
All changes have gone through a security review.
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v1.1 protocol updates go live today
4 days in, we have a clear picture of whats working and where we can make the system stronger
there are 3 changes i want to make
- 12h branch auctions
- a more deliberate burn policy
- tuning POL such that we put incremental liquidity on the buy side only
more on each below:
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its the start of the cycle, lets swing for the fences
liquidity will route through the standard reserve
The first mandate was to issue and defend a sovereign asset with its own monetary policy.
The Standard Reserve introduces the second mandate, to drive and dictate flows of liquidity.
Powered by STANDARD.
standardreserve.xyz/manifest…
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4 days in, we have a clear picture of whats working and where we can make the system stronger
there are 3 changes i want to make
- 12h branch auctions
- a more deliberate burn policy
- tuning POL such that we put incremental liquidity on the buy side only
more on each below:
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tuning POL such that we put incremental liquidity on the buy side only
we did exceptionally well on protocol owned liquidity. the liquidity depth is substantial enough that the protocol can withstand large exits with very little impact
but depth works in both directions and currently the protocol adds liquidity on both the ETH and STANDARD side
today, the POL vault uses ETH to buy back STANDARD, then pairs those tokens with additional ETH to add more two sided liquidity
i propose a slight change
the additional ETH allocated to liquidity will still go toward ETH side bids but will not be paired with the acquired STANDARD. that acquired standard will simply stay in the POL vault
the goal is to keep deploying liquidity but rather than continuously making both sides deeper, incremental liquidity will be directed towards the buy side which will thin out the token side over time
to be clear, this is completely different than the buyback-burn vault which stays untouched
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the protocol pool still has the most liquidity on robinhood chain
we're reviewing the parameters governing future POL additions. this is about how new liquidity is added, not withdrawing existing liquidity (the protocol encodes in the contract that we cannot take out any existing liquidity)
the tweaks we make will be deliberate and make it more favorable for traders
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