This week's Fremen Bi- Weekly format is different from the usual ones, since it is the first one in the new year, 2023.
We saw a crazy crypto market in 2022. In the land of Arrakis we saw some huge growth in TVL, largely due to the G-UNI USDC/DAI pool which was adopted and accepted by MakerDAO as collateral to mint DAI. At the peak, in July Arrakis had a TVL of $1.8b. As the market trended further down this TVL decreased yet still stands at a strong $500m.
In June of last year the journey for our V2 Infrastructure and PALM product started. The team gathered prior to ETHCC in Paris and had a brainstorming session around what the problems both DAOs as well as traders are facing in regard to DEX trading and liquidity.
From these problems Arrakis V2 and PALM were born.
Arrakis V2: Arrakis V2 is a layer on Uniswap V3 that enables everyone to run advanced central limit order book like market making strategies.
This enables a completely new way of trading and liquidity providing on Uniswap, that so far has not been possible. We are really excited to see various different funds, traders and protocols that are already experimenting with building on top of this permissionless infrastructure.
The first thing that Arrakis built on this infrastructure is Arrakis PALM- which offers protocols a capital efficient mechanism to acquire sustainable liquidity by cleverly utilizing the Uniswap V3 market. Challenging the existing liquidity bootstrapping mechanisms of liquidity mining and bonding.
So both Arrakis V2 and Arrakis PALM are now launched, what's next?
In Q1 of this year, we are focused on onboarding multiple protocols to PALM on a batch basis, with the first batch currently being onboarded. On the business development front, protocols are also in the pipeline for the next batches. Furthermore, we will be working on optimizing the current market-making strategy powering the PALM product, as well as offering a public vault infrastructure so that vaults can be deployed where anyone can deposit into.
If you are interested in utilizing PALM fill out the onboarding form here:
News of the Week
The second phase of the Optimism liquidity mining program started. As a recap, Optimism is providing OP tokens to the Uniswap Foundation, which in turn are providing the tokens to 4 different liquidity management platforms. This Phase 2 will last for 3 weeks, thereafter Phase 3 will start.
You can now start earning liquidity mining rewards in the following pools:
6,250 $OP - wstETH-ETH 0.05% https://beta.arrakis.finance/vaults/10/0x3Dc6a6Ef1836F02D9FF29212c22e71fA3B74D1a9
6,250 $OP - USDC-DAI 0.01% https://beta.arrakis.finance/vaults/10/0x632336474f5Bf11aEbECd63B84A0a2800B99a490
6,250 $OP - WETH-DAI 0.05% https://beta.arrakis.finance/vaults/10/0x96FecBDc4ff071779cd82DA7bA23DA76B0E37aCB
6,250 $OP - OP-USDC 0.3%
https://beta.arrakis.finance/vaults/10/0xa969a1BC401d27EcCD1cF60Bc53b78C27183E214
On the tech side we updated our routers on all networks, if you are using old routers please upgrade them. The router addresses are the following:
ethereum : 0xdD92062aDF9F6EDf528babe7F04804fe86424A74
goerli: 0xB0D04855B253A95cb871bC0F1A73AAb9805FB99c
optimism: 0x9ce88a56d120300061593eF7AD074A1B710094d5
polygon: 0xc73fb100a995b33f9fA181d420f4C8D74506dF66
arbitrum : 0x2845c6929d621e32B7596520C8a1E5a37e616F09
On another note, we have hired a new frontend developer, Ulltra8, and we will be posting a new research role relatively soon. We are extremely excited to have Ulltra8 onboard and expect the frontend game to change! If you think you may be a fit for the research role, feel free to DM Squirrel on Discord.
On the marketing side we have an exciting Twitter Spaces coming up that Uniswap is hosting, you’ll hear about the details early next week. Lastly, for the more creative community members of Arrakis, make sure to stay alert next week, a design challenge is coming!
This year is going to be a blast and we can’t wait to see the adoption of V2 and PALM as well as push out the other products that we have planned.
Arrakis is a protocol that builds trustless market making infrastructure & strategies on Uniswap V3.
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