Welcome everyone. Here I prepared Community AMA #5 recap from 2023.05.31 for everyone who missed that call. Enjoy reading.

Evie Zhang - CEO

Sean - Marketing

Sean | Diamond Protocol: Today we obviously gonna go through Trading Competition results, also anything that our CEO (Evie Zhang) wants to share and…future implementations.

Evie Zhang | Diamond Protocol: Hello everyone. Market was pretty depressing for the past few weeks. At the current market condition, volatility and volume is really low. But we still have some happy news to share. Big thanks to everyone who joined our Trade Comp that started in the beginning of April and ended today (31 of May). Our winners are:

• USDC position - JoshuaH#7990

• ARB position - RZ#4383

Congratulations guys. 👏 I think one of the main thing that a lot of users were and are able to earn money during this extremely low volatility period. Trader on the 10th was able to earn 89$ in one single position, while the winner earned over 500$ in one single position.

For most popular pairs like (ETH/USDC) current fee APR is 11% for 15% range. Our pool, that users borrow assets from designed to have 12% interest rate when utilization is 80%. So basically what I see here, Uniswap’s APR isn’t gonna cover ETH pool when utilization is 80%. Because interest rate’s low. Today if you are borrowing ETH from the pool, it’ll be APY 5% per year. It’s nothing compare to APR you are earning on the Factory.

Let’s back to October 2022 for a while and dive into these numbers a bit deeper. When we first testing our product, this number, that stand for 11% right now on Uniswap it was triple digit. When we started our product last year it was over 100%. That stands not only for volume on the market, it also stands for the TVL. The higher TVL in the pair, the lower fee APR u see. So, when we first launched TVL was single digit. It slowly grew to 15 then 30 and now is 62$ million a few days back. It tells us few interesting aspect of the market right now.

Assume u are the regular LP user on Uniswap with Unibot’s help. Just imagine, you typically gonna earn about 11%, what means less than 1% per month. 11% it’s definitely not enough for potential income, and trader will even suffer more from the IL (impermanent loss). Which is why during these low APY/volatility period, someone like us is even more critical, because we aren’t only monitor the PnL and tracking the IL risk, but also giving to the traders all the tools they need to adjust to the market and at the same time increase trader’s capital efficiency so APR you see is much higher than 11%.

Recently, we published the article about low APR/Fees period and how it’s affecting the market. So you can check it out as well.

As well there’s no way for traditional trader could earn positive yield during this period of time due to IL + negative funding rate.

We also want to bring everyone’s attention to our Fee APR, so the green number you see on the screen, means u’ll get higher fee APR from Uniswap. So we can see how people flocking to the pairs that have higher APR, like for example ARB/USDC pair that has 42,2% and WETH/GMX pair is 89% right now. It’s good thing to note every time when u open the position.

By the way we are very to announce that we gonna launch new popular Chain and DEX soon. Reason not only about exotic pairs that it has, but also about token rewards on that DEX. Next AMA we probably gonna reveal the name of the chain/DEX once it’s ready for beta test. But first of all gonna share the access to our VIP traders, and then to all traders on our Discord.

That’s all from my side, maybe we can open the mics for our community and if someone has questions to ask.

Sean | Diamond Protocol We would also to hear your feedbacks about our competition we had. Your thoughts/ideas about futures, if you have. Don’t be shy to share with us your thoughts. And yeah, of course all of those events will ave rewards.

Evie Zhang | Diamond Protocol: Sean has an interesting idea, that we all VOTE for the position. For example users can vote for the position and we’ll able to open it assume on Monday morning. Like specific range, particular pair, leverage etc…

Sean | Diamond Protocol Basically our idea was to make a kinda Community Position. If u are a streamer at the same time, or maybe u heard about Twitch place, then you probably will find out where this idea comes from.

For example, the first VOTE can be about which pool (pair), the second about range, then leverage, and so on. And we will select the option that users VOTE most. So our entire community can be involved.

Evie Zhang | Diamond Protocol Yes, that’s a great idea Sean. Want to notice that we always trying to create/add/implement something new and interesting for all of you. I also remember that one user asked us to add mood-meter for us to measure the market. Like how many users used this or that leverage/range for the last 24 hours. So, We do want to let you know, that we are listening all your feedbacks and suggestions.

Sean | Diamond Protocol We have a question from VISION24#5138:

Are you guys deploying to ZkSync Era?

Evie Zhang | Diamond Protocol Why didn’t u ask last week, when Anderson was there. 😆 Anderson is very exited about this and Yeah, answer is - definitely yes.

When I was participating ETHTaipei month ago, there’re two tracks: one is ZK and another one is DeFi. When I thought like DeFi is hard to grab for most people, my friend came to me and saying like go to zkSync track where everyone do not understand the next person. That was funny. So I can fully understand why Anderson is exited about it.

Sean | Diamond Protocol We had another question from 0xBoru#0279:

Obviously we had a scam-coin launch in the past few weeks with the ticker $UNIBOT. For now, it doesnt look like that project is going away. With you mentioning Evie that you are looking to launch with a new Dex that isnt Uniswap then is this a time to reconsider the name of the product? sorry question was less about wen token lol. More so around branding of the product especially if we are not going to be solely Uniswap related..

Evie Zhang | Diamond Protocol We just want to remind you again, that token has nothing to do with us. Even if we launch our token we won’t name it as $Unibot. As to our token launch, part of the reason is we are working with the new DEX to do launchpad. We are planning to launch our token later this year, or might be early next year. BUT, If market won’t be as depressing as now we hope that we can launch it this year. We don’t have anything that we can share right now.

Sean | Diamond Protocol And our entire product’s name is Diamond Protocol. Unibot is one aspect of our product. And another thing, before the token launch there will be some marketing campaign or smth similar to it. So in case you see some strange links with claims etc, that somehow might be related to our token - that’s the scam. I mean, if you remember that our discord server was attacked (my previous account was hacked), gladly only for 10 minutes. So, we reacted very fast, and eliminated the danger.

Evie Zhang | Diamond Protocol That’s right. This is another reason why we aren’t encouraging people to share third party links on our Discord server. So, please remind to not to click on them in case you see it.

Actually, the new DEX that we are adding will be kinda an example, that we can add any DEX to our Unibot. Also we are constantly searching for better trading pairs and higher APRs.

Also, once we launch on the new chain and DEX, we will launch another trading competition for all of you.

UniBot is the first Leveraged Liquidity Provision (LLP) Platform for Uniswap V3, where users can create positions to provide liquidity in Uniswap V3 with leverage, hedging, and automation on Layer 2 blockchain. It is the latest product launched by Diamond, a DeFi protocol specializing in building on-chain structured products.

💎 Website: dmo.finance (including demo-trade page)

🐦 Twitter: twitter.com/diamondprotocol

🗃 Crew3: crew3.xyz/diamondprotocol

👾 Discord: https://discord.gg/diamond

✍ Blog: medium.com/@diamondprotocol

🔮 Galxe: galxe.com/diamondprotocol

AMA Recap made by Diamond Protocol’s Head Mod - 一川drive#4181

AMA Record 👉 Community AMA #5 - Trade Comp