Over 16k users, $44k fees and $88M trading volume - HIVE Perp DEX Leading the Way

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1 Feb 2024

Over 16k users, $44k fees and $88M trading volume
They are leading a new primitive: HIVE
The first Perp DEX where users can farm Eigen LRT + Intent-based architecture 🧵 👇
1/ If you enjoy the read, please BOOKMARK, RT and COMMENT on what you like to hear next. It will be super helpful!
2/ Perp DEX has been a favorite narrative of mine and it gets better when there is @eigenlayer restaking narrative along with a intent-based architecture.
@TradeVoodoo is the first fair launch Perp DEX on Base that have the following features:
3/
• Unique set of incentives to create flywheel effect
• up to 100x leverage on both long and short positions
• 0% slippage on all trades
4/ I particularly like how they differentiate themselves from existing Perp DEXes:
• Community-focused tokenomics, no private sale, no VCs
• Launching on Fjord
• Already audited by @peckshield
5/ @TradeVoodoo is pioneering a new primitive called HIVE.
HIVE = Hybrid Intent & Vault Engine
HIVE combines the best of
• Intent-based Order Matching
• Composable LP Vaults
• Eigenlayer Restaking
6/ LBP sale
They will be holding their LBP sale on @FjordFoundry and to add legitimacy to this sale supported/curated by @CryptoGrills and Fjord themselves.
Really low starting FDV at only 9.8M as compared to other perp DEX
NO VCs, FULL Community raise
7/ Pros and Cons of Intents
Intents provide gasless executions and faster trading speeds but at the expense of decentralization.
They benefit professional market makers at the expense of retail traders, limiting their ability to participate in LP and yield generation.
8/ V1 incorporated an intent-based approach for margin trading, relying on a keeper server.
It maintained an on-chain orderbook for transparency.
In their V2, they developed a HIVE model that aims to maximize decentralization while leveraging the benefits of intents.
9/ HIVE Features
Hybrid Model: Combines intents with composable LP vaults, allowing any liquidity provider (LP) to participate.
Gasless Transactions: Uses ERC-2612 for gasless approvals, aligning with intent-based systems for user experience.
10/ Frictionless Upgrade: Seamless migration from Voodoo V1 to V2 for existing VLP pool assets.
Enhanced Security and Listings: Retains a non-synthetic model for security while expanding tradeable asset offerings.
11/ Decentralized Infrastructure: Incorporates multi-party computation (MPC) and Eigenlayer for security and decentralization, introducing a Liquid Restaking Derivative Token (LRD) called Voodoo Restaked ETH (vrETH).
12/ Eigenlayer Integration: Voodoo V2 integrates with Eigenlayer to enhance security and decentralization, offering a mechanism for users to stake ETH or LSDs and earn from various sources, including protocol emissions and restaking points.
13/ Voodoo V2, with its HIVE engine, aims to advance DeFi on the Base network without sacrificing decentralization for UX improvements.
14/ Metrics
@TradeVoodoo is topping out as the best perp DEX on Base with the stats.
Though we’re seeing lots of activities on other chains, Base pump has yet to come and I think that it will be only a matter of time.
15/ Voodoo also moved up the ranks to #5 now in 2 months
16/ If you want to have an unparalleled edge to Defi alpha and macro views, then I’ve got it here for you.
Uncensored article and Free alpha for you here at Threading on the Edge: https://t.co/ERcs2NJVTv
17/ Appreciate a subscribe to my daily notes at ToE on telegram with a totally different kind of alpha packed content.
18/ $VMX = Eigen LRT + Intent
@Mars_DeFi
@Defi0xJeff
@0xVampyr
@FarmerTuHao
@matrixthesun
@0xAndrewMoh
@cchungccc
@Beacon_Early
@defiinfant
@izu_crypt
@CryptoNikyous
@eli5_defi
@CryptoShiro_
@Karamata22
@alphabatcher
@iambullsworth
@DeFiMann
@dontbuytops
@Foxi_xyz
@DegenRutw
19/ $VMX = Eigen LRT + Intent
@TheDeFiPlug
@0xAndrewMoh
@Defi__Finest
@defi_antcrypto
@twindoges
@DeRonin_
@splinter0n
@Defiblackjoker
@poopmandefi
@My_SexyLife
@MoneyCrptBunny
@TweetByGerald
@InspectorDefi
@definapkin
@leilanibabiez
@the_smart_ape
@0xDepressionn
@Prithvir12
20/ I hope you’ve found this thread helpful.