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TapiocaDAO

TapiocaDAO

TapiocaDAO

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Incident SummaryAt 10:09AM UTC, October 18, 2024, Tapioca DAO suffered a security breach as a result of a social engineering attack targeted at a core contributor, which resulted in the loss of approximately 605 ETH and 3.1M USDC totaling $4.65M USD. These stolen funds are currently being held across several known addresses, with the primary address of the hacker being 0x69d91e56ca80f2a4d7b808b59053ea5c5505ffe2, where (as of time of writing) $3.915 million USD in cryptographic assets are bein...

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10/18/24 Incident Post Mortem

-1,+1 (twL)

R.I.P. Liquidity Mining: Epilogue

R.I.P. 'Decentralized' Stablecoins

Introducing TAP

birth of twAML

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R.I.P. Liquidity Mining: Abridged

After the two infamous installments of R.I.P. Liquidity Mining, the purpose of this final edition is to distill the data & information from both works down into the definitive scripture of the life and unforeseen demise of our dearly departed, Liquidity Mining, and to articulate the next chapter of economic models in the book of DeFi, brought to you by Tapioca.HistoryLiquidity Mining’s humble beginnings can be traced back to October 1st, 2017, with IDEX. IDEX rewarded IDEX tokens to users who...

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R.I.P. Liquidity Mining: Epilogue

Liquidity Mining $$October 1st, 2017 - October 19th, 2022$$ $$[Epilogue - October 19th, 2023]$$LIMBOBy the supreme edict of your el jefe, the Obituary of the Death of Liquidity Mining was expertly forged by the flourish of my pearl inlaid quill, and swiftly dispatched upon the blockchain. My loyal Pearl Labs interns, laboring tirelessly under my scrutinous gaze without luxury of recompense, accomplished this feat precisely one year ago. The solemn and somber Obituary was subsequently graced b...

Discover card cover image

R.I.P. Liquidity Mining: Abridged

After the two infamous installments of R.I.P. Liquidity Mining, the purpose of this final edition is to distill the data & information from both works down into the definitive scripture of the life and unforeseen demise of our dearly departed, Liquidity Mining, and to articulate the next chapter of economic models in the book of DeFi, brought to you by Tapioca.HistoryLiquidity Mining’s humble beginnings can be traced back to October 1st, 2017, with IDEX. IDEX rewarded IDEX tokens to users who...

Discover card cover image

R.I.P. Liquidity Mining: Epilogue

Liquidity Mining $$October 1st, 2017 - October 19th, 2022$$ $$[Epilogue - October 19th, 2023]$$LIMBOBy the supreme edict of your el jefe, the Obituary of the Death of Liquidity Mining was expertly forged by the flourish of my pearl inlaid quill, and swiftly dispatched upon the blockchain. My loyal Pearl Labs interns, laboring tirelessly under my scrutinous gaze without luxury of recompense, accomplished this feat precisely one year ago. The solemn and somber Obituary was subsequently graced b...

Discover card cover image

In 2022 we released two now pivotal pieces in Tapioca lore and DeFi itself- R.I.P. Liquidity Mining which described Tapioca’s evolution of the stagnant & broken DeFi economic model (fka “flywheels”) into a value capture maximized, aligned, and sustainable call option incentive model, and the twAML (time weighted average magnitude lock) whitepaper. twAML was designed to be a dynamic consensus based liquidity locking system. twAML supported both Time Weighted TAP or twTAP, and Call Option TAP o...

Discover card cover image

In 2022 we released two now pivotal pieces in Tapioca lore and DeFi itself- R.I.P. Liquidity Mining which described Tapioca’s evolution of the stagnant & broken DeFi economic model (fka “flywheels”) into a value capture maximized, aligned, and sustainable call option incentive model, and the twAML (time weighted average magnitude lock) whitepaper. twAML was designed to be a dynamic consensus based liquidity locking system. twAML supported both Time Weighted TAP or twTAP, and Call Option TAP o...

Discover card cover image

This article will serve as the defining scripture on Pearl Labs Time Weighted Escrowing, and Average Magnitude Lock, colloquially together known as twAML. As twAML is a novel and complex system, the goal of this article is to help convey the research, design, and implementation of twAML, and its use cases within the Tapioca protocol. The twAML whitepaper: For the twAML whitepaper, click here.Introduction:When Pearl Labs began the development of TapiocaDAO in early 2022, one of the largest goa...

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Introducing TAP

OverviewTAP is the heart of Tapioca DAO, an omnichain stablecoin ecosystem. It serves three roles within the Tapioca ecosystem- voting power within Tapioca DAO ecosystem governance, a claim on Tapioca ecosystem fees, and as an economic stimulus through Tapioca’s pioneering call option incentive model. The TAP token is a LayerZero OFTV2 (Omnichain Fungible Token), an omnichain extension of the ERC-20 token standard which supports both EVM’s & non-EVM’s. The TAP token will first be deployed on ...

Discover card cover image

This article will serve as the defining scripture on Pearl Labs Time Weighted Escrowing, and Average Magnitude Lock, colloquially together known as twAML. As twAML is a novel and complex system, the goal of this article is to help convey the research, design, and implementation of twAML, and its use cases within the Tapioca protocol. The twAML whitepaper: For the twAML whitepaper, click here.Introduction:When Pearl Labs began the development of TapiocaDAO in early 2022, one of the largest goa...

Discover card cover image

Introducing TAP

OverviewTAP is the heart of Tapioca DAO, an omnichain stablecoin ecosystem. It serves three roles within the Tapioca ecosystem- voting power within Tapioca DAO ecosystem governance, a claim on Tapioca ecosystem fees, and as an economic stimulus through Tapioca’s pioneering call option incentive model. The TAP token is a LayerZero OFTV2 (Omnichain Fungible Token), an omnichain extension of the ERC-20 token standard which supports both EVM’s & non-EVM’s. The TAP token will first be deployed on ...

Discover card cover image

R.I.P. 'Decentralized' Stablecoins

July 21st, 2014 - March 13th, 2023After the depeg of Circle’s USDC over this past weekend, every ‘decentralized’ stablecoin depegged due to a single bank failure. All of their funerals were held the same day of this tragic event, in USDC wrapped coffins. Is decentralized finance really decentralized finance if a few banks could destroy it all? Three questions: -Why did virtually every major ‘decentralized’ stablecoin have a major (10% or more) depeg from the U.S dollar due to a single bank fa...

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R.I.P. Bridging

Bridging Obituary??? - November 7th, 2022Yet another untimely death has come for us at TapiocaDAO to sadly announce the sudden passing of bridging. The following obituary provides context to what went wrong in bridging’s short but “eventful” life. Join us in remembrance and seeing what the future holds.Dude, where’s my scaling?In July 2015, the genesis block of the Ethereum network occurred. DeFi’s “Big Bang” event if you will. Rune Christensen launched eDollar onto the Ethereum testnet in 20...

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R.I.P. Liquidity Mining

Liquidity Mining ObituaryJune 16th, 2020 - October 19th, 2022Liquidity mining is the mechanism used to incentivize users to lend liquidity with a reward token. TapiocaDAO today officially announces the death of Liquidity Mining. We offer a novel and brand new monetary policy to DeFi featuring sustainability, permanent value capture, and financial alignment of invested participants. We consider this to be the liquidity incentive trilemma that TapiocaDAO has solved with DSO, or DAO Share Option...

Discover card cover image

R.I.P. 'Decentralized' Stablecoins

July 21st, 2014 - March 13th, 2023After the depeg of Circle’s USDC over this past weekend, every ‘decentralized’ stablecoin depegged due to a single bank failure. All of their funerals were held the same day of this tragic event, in USDC wrapped coffins. Is decentralized finance really decentralized finance if a few banks could destroy it all? Three questions: -Why did virtually every major ‘decentralized’ stablecoin have a major (10% or more) depeg from the U.S dollar due to a single bank fa...

Discover card cover image

R.I.P. Bridging

Bridging Obituary??? - November 7th, 2022Yet another untimely death has come for us at TapiocaDAO to sadly announce the sudden passing of bridging. The following obituary provides context to what went wrong in bridging’s short but “eventful” life. Join us in remembrance and seeing what the future holds.Dude, where’s my scaling?In July 2015, the genesis block of the Ethereum network occurred. DeFi’s “Big Bang” event if you will. Rune Christensen launched eDollar onto the Ethereum testnet in 20...

Discover card cover image

R.I.P. Liquidity Mining

Liquidity Mining ObituaryJune 16th, 2020 - October 19th, 2022Liquidity mining is the mechanism used to incentivize users to lend liquidity with a reward token. TapiocaDAO today officially announces the death of Liquidity Mining. We offer a novel and brand new monetary policy to DeFi featuring sustainability, permanent value capture, and financial alignment of invested participants. We consider this to be the liquidity incentive trilemma that TapiocaDAO has solved with DSO, or DAO Share Option...