March Wrap-up

Ahoy Pirates

Another month spent aboard the ship with the fellas. In case you’ve been over captivated by the corgi contest, here is an opportunity to catch up on the recent developments.

Partnership with Revest Finance — xLQDR FNFT

We’ve started this month with an answer to a longstanding question from the community : How to make xLQDR positions liquid?

Revest Finance financial NFT (“FNFT”) is a cutting edge technology that offers a wide range of possibilities when it comes to illiquid positions. Through their “Smart Wallet” technology, users are now able to get several xLQDR positions with different principal amounts and different maturity of lock, all within a single wallet address. Users can freely extend the duration of the lock, as well as claiming its rewards like they used to do previously (minus 1% service fee applied by Revest). In addition, the ERC-721 standard allows users to sell their FNFTs on secondary markets like Paintswap, where Liquid Driver FNFTs can already be listed.

More use cases could be explored in the near future, such as FNFT collateralization, separating the yield form the principal, futures products like derivatives and bonding solutions.

Partnership with Growth DeFi — cLQDR

Because liquidity is our core business, we could not leave the community with only one liquid solution for xLQDR. cLQDR in collaboration with Growth DeFi now offers another dimension of flexibility.

cLQDR is an autocompounding version of xLQDR that can be freely traded on a secondary market. When users deposit LQDR in order to mint cLQDR on Growth DeFi, the LQDR is locked into xLQDR for the maximum amount of time. The rewards are claimed and compounded into xLQDR on a daily basis, appreciating the value of cLQDR over time versus LQDR. The secondary market is provided by the metastable pool “Pirate in C” available on Beethoven-x. This technology allows to keep an evolutive peg between two correlated assets.

Soon, cLQDR could be utilized as a collateralized debt position (“CDP”) to mint $MOR (the Growth DeFi stablecoin) at 0% interest rate. Get ready to leverage your yields!

New product featuring Hundred Finance — liHND Wrapper & Single Sided Farms

Hundred.Finance is a lending protocol that has recently adopted veTokenomics. The veHND token relies on the veCRV contract from Curve Finance. Therefore, veHND holders are able to vote on-chain bi-weekly to manage the distribution of $HND rewards over the Hundred markets; to vote on the protocol improvements (governance, new asset onboardings…); to earn the maximum boosted rates of $HND lending rewards. Accumulating governance tokens is our main strategy, so we had to seize this opportunity.

Thanks to our liHND wrapper, LiquidDriver quickly managed to become the #1 veHND holder, with 44% of the total supply locked on the Fantom Network. The liHND wrapper works the same way as the linSpirit and cvxCRV wrappers. Users forgo their voting power in exchange for a liquid position and boosted yield in the staking pool.

The next part of the plan was straightforward. We leveraged our holding position to open single sided farms that earn $HND at the maximum boosted rate.

Investments strategies

Liquid Driver’s Single Sided Farms offer some interesting investment opportunities where both retail and protocols can earn double digit sustainable yields on a wide range of stablecoins (USDC, FRAX, DAI and MIM).

Users/protocols deposit their tokens on Hundred.Finance to get the respective hTokens — a token that accrues the lending interest over time. Users/protocols then deposit the hTokens in our pools, earning $HND tokens at a boosted rate, with the possibility of autocompounding the proceeds. Hence the yield is derived from the interest bearing token and the emission of $HND.

Investment Policy & xLQDR APR

Two weeks ago, we decided to distribute the proceeds of the DAO-to-DAO token swap between LiquidDriver and DEUS. We are sharing $DEUS tokens with xLQDR holders by distributing them to the revenue sharing vault over 60 days. This is following a 20X return on our initial investment, and it acts as a symbol of commitment and gratitude to our community.

Other

• LQDR has been listed on Poloniex, a top tier centralised exchange. The inaugural twitter space can be accessed here.
• AMAs of the month with Pickle Finance, FantOHM and Revenant Finance can be replayed here.
• Liquid Driver TVL (denominated in FTM) is currently testing its all-time-high.