There isn't enough talk about the upcoming #AstroWars so I decided to spread some light.
If you were bullish on the whole #CurveWars scenario then you may want to take a look at what's coming to Terra's ecosystem.
Recently, Do Kwon introduced the 4pool ($UST, $USDC, $FRAX, $USDT) which is a big move on Curve Finance. This unveils a huge partnership between Frax Finance, Terra, and Redacted Cartel…not to mention that they are currently the largest holders of $CRV & $CVX. This is a double-entendre possibly “killing” $DAI and also eliminating the "Curve Wars" as Do Kwon stated.
This is an interesting statement considering how important the Curve Wars are and how big of an impact it made in the crypto community. It seems like the goal for the 4pool is to starve the 3pool of liquidity while incentivizing protocols to pair their stables in the 4pool. This will increase the ongoing demand for decentralized stables while also giving $FRAX & $UST a big boost. This happened right in time for what’s coming to Terra.
Let The Wars Begin...
While Curve is the leading DEX in DeFi, Astroport is the leading DEX on Terra's ecosystem. There are 3 main protocols as of now that will be on the battlefield. These protocols are Retrograde, Reactor, and Apollo.
The main goal for these protocols is to accumulate as much $ASTRO as they can while becoming yield boosters for Terra’s ecosystem. Doing so, these protocols will stake their $ASTRO, and lock up $vxASTRO in their treasury, each having their own flywheel for users that choose their platform. I will go over a few basics so that a hodler on any level could understand what’s going on.
APOLLO DAO
Apollo has already had a headstart as their Warchest accounts for 4.74M $UST worth of $xASTRO. This puts them at an advantage as the other protocols are still yet to launch. This increases the value and demand of $ASTRO simultaneously.
Apollo has introduced a liquid staking mechanism that differs from the other two protocols but is unique in it's own way. They seem to have a different strategy for the war. $ASTRO that gets staked with Apollo becomes the yield bearing token $apASTRO. This token will be getting its yield from $vxAstro yield, Apollo rewards, $xAstro yield, and swap fees. There has also been talk of Apollo working on a lockdrop mechanism as well.
REACTOR
Reactor plans to frontrun the Retrograde by launching on April 28th. This launch will happen in phases.
Phase 0 will result in a $RCT airdrop for $xASTRO holders, $ASTRO-$UST LP holders, $ANC stakers and $bLUNA-$LUNA LP holders. There will be a total of 500,000 tokens distributed.
Phase 1 includes a $RCT-$UST LBP which will last for 7 days. This will be used to earn $RCT and also for Reactor to use $UST to build its strategic fund for the upcoming launch.
Phase 2 is the convertdrop which will let the $ASTRO, $xASTRO, and $ANC holders convert their tokens into $reANC, $reASTRO by staking and locking them. When Reactor launches, these tokens will be automatically staked to earn $ASTRO alongside $RCT.
$reASTRO tokens can be further staked in Reactor to earn $RCT on top of $vxASTRO rewards including Astroport trading fees and boosted rewards.
Phase 3 is when users can claim their airdrop rewards on Reactor’s website. Users can withdraw their unlocked $reASTRO and $reANC and claim $RCT rewards from Phase 2. The $vlRCT vault feature will also be launched in Phase3. $RCT holders can lock $RCT into the $vlRCT vault to accumulate $vlRCT early.
Reactor made it known that they’re dedicated to maximize $ASTRO for ASTRO LPs.
-Staking LPs will give you boosted $ASTRO rewards, trading fees, and farming rewards.
-Staking $ ASTRO will give you the 1:1 $reASTRO that can be staked for the same purpose as $vxASTRO on top of 10% of fees.
-Locked $RCT ($vlRCT) will receive a portion of platform fees in $reASTRO.
RETROGRADE
Last but not least, Retrograde considers themselves the "Convex of Terra". This anticipated protocol launches on May 2nd. They will also launch in phases.
Phase 1 consists of a bootstrapping event for $RETRO-$UST where users will deposit $UST to receive a fair amount of $RETRO tokens after 3 months.
Phase 2 entails the booted incursion event where $ASTRO and $xASTRO holders can deposit their assets for a return of $RETRO, $rexRETRO, and LP tokens after 3 months.
Upon launch, users who choose Retrograde will be able to partake in numerous ways described in the graphic below. This is what we like to call the “beauty of options.”
All in all, there are plenty ways to take advantage of the #AstroWars. I would recommend overviewing each protocol and doing your own due diligence to understand what suits your best interest. After personally reviewing these protocols, they all cater to different types of users so what you choose is entirely up to you. I believe that it would be the ultimate alliance for these protocols to actually team up in some sort of fashion to become interchangeable and help benefit the ecosystem as a whole. I’m pretty bullish overall and I’m hoping that this new frontier will help introduce more innovation and achievable gains to everyone in this landscape.
**Alpha**
There has also been talks of the Hidden Hand Marketplace being involved so stay tuned for more insight!