"lpETH" is a new DeFi primitive unifying liquidity for (re)staked ETH. It's a single-sided liquidity pool containing just ETH, and acts as a clearinghouse for LSTs. Any LST (or LRT) can utilize this on-chain ETH liquidity for instant unstaking. Liquidity providers earn fees from unstakers, bribes from various LST/LRT protocols, and lpETH’s native governance token, WAGYU.
The goal is to establish lpETH as the go-to liquidity venue for instantly unstaking and borrowing against LST/LRTs. To achieve this there is a pre-deposit campaign with generous incentives to build up initial liquidity.
Liquidity Partnership with Turtle.Club
For users interested in earning boosted yield during the pre-deposit phase, they can sign up for Turtle.Club at this link. By linking your wallet you can earn a 66% boost on points.
Turtle is designed to bring transparency and fairness to the Web3 financial ecosystem. By tracking the positions of LPs and using trustless APIs, Turtle empowers all DeFi participants to optimize their returns.
Our mission is to democratize access to liquidity deals by bringing traditionally exclusive, backroom yield boost arrangements on-chain. To reap the benefits of being a Turtle Club member you need to:
Go to turtle.club
Connect your wallet and agree with the Terms and conditions
Deposit on the lpETH Pool
1. Game Rules
Hard Cap: A maximum of 80,000 ETH will be accepted during the pre-launch phase.
Point Distribution: Based on your weighted deposit, 30,000,000 LP points will be allocated at the end of the deposit phase.
Deposit Period: The deposit phase lasts 4 weeks, during which participants can deposit, adjust their lockup duration, or withdraw ("chicken out").
Boosted Rewards: Deposits are weighted based on the lockup duration you choose. Longer lockups earn higher multipliers, boosting rewards if your lockup duration exceeds the average.
Claiming Deposits: At the end of the deposit phase, deposits will be claimable as "veLPETH," representing your share of the liquidity pool.
2. Strategic Tips
Deposit Early: With a hard cap of 80,000 ETH, early deposits are advantageous. You retain the flexibility to withdraw or modify your lockup duration before the phase ends.
Monitor Your Effective Multiplier: Keep an eye on your effective multiplier during the deposit phase. Adjust your lockup duration as necessary to ensure you maximize your potential rewards.
3. Points Distribution Explained
Points are distributed pro-rata at the end of the deposit phase, based on the weighted value of each user's deposit relative to the total weighted deposits.
Bribes and the Stake Wars
LpETH is bringing back the Curve wars! Liquidity providers can be bribed. LSTs protocols giving better bribes can receive lower fees or interest rates for their users versus their competitors. LSTs can tap into available liquidity without bootstrapping their own pools and bribe their way to success.
Links:
Website (http://www.lpeth.xyz/)
X/Twitter (http://www.x.com/lpethxyz)
Docs (http://docs.lpeth.xyz/)
Discord (https://discord.gg/d7aBgGvpCF)
About Turtle Club
Turtles’ mission is to bring backroom liquidity deals on-chain, making them fair, transparent, and accessible to all.
Turtle enables LPs and Traders to monetize their liquidity and trading volume by committing to our partner protocols. We operate without smart contracts, eliminating the risk of hacks or rug pulls. This ensures our users are never exposed to additional risks.
Turtle Chad
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