Opal
@OpalDeFi
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LST/LRT & Stables Omnipools for your favorite veDEX - starting on @Balancer / @AuraFinance -
The Opal Cave
Joined March 2023
Don't wanna be here?
Send us removal request.
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Pinned Tweet
GEM prospectors have uncovered the entrance to a mysterious cave, the unfolding adventure awaits within !
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Opal Fair Launch 💎
$GEM token public offering is the next milestone toward the complete release of Opal ecosystem components.
The public sale will be conducted through a
@Balancer
Liquidity Bootstrapping Pool (LBP), running on
@FjordFoundry
from January 10th to 13th.
🧵
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The big dig is on fam’ ⛏️💎
Opal fair launch is now live on
@FjordFoundry
for a 72h duration !
$GEM lodes have never been so close 👀
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Opal Advent Calendar Event 🎄
Join us for a bountiful journey through Opal's Calendar Event, engaging the early community with fun activities and rewarding all participants with a very special Christmas gift !
Complete Zealy quests, take on distinctive roles, and engage in
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Public Sale update 💎
Thriving for LBP participants’ satisfaction, Opal has agreed with
@FjordFoundry
on a 25% swap fees rebate to be distributed after the sale end.
Moreover, as you might have noticed to their recent posts and along with Opal’s airdrop criteria, participating
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The $GEM Flywheel
To achieve and sustain the value proposition as the protocol scales up to thousands users, Opal will activate a unique tokenomic structure centered around the $GEM token.
Let's delve into the intricate details of its utilities and distribution:
A 🧵
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Opal Airdrop Program
The winter wind now blows in at the entrance to the cave, echoing to the ears of the diggers, accompanied by a gentle melody. The bells ring out on the last day of the Advent calendar, announcing Opal's airdrop program. 🎄
A thread 🧵
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Introducing Opal’s primary Omnipools for wstETH and rETH!
Opal is excited to support
@LidoFinance
and
@Rocket_Pool
and boost on-chain liquidity for their assets.
We've kicked off the journey by onboarding the two largest LSTs, facilitating their growth within the DEXs ecosystem.
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Security checkpoint
Users’ assets security is Opal’s top priority! Acting accordingly, part of the project’s seed raise was dedicated to fund a thorough audit of Opal’s smart contracts suite.
@HalbornSecurity
's proven track record with major web3 and web2 companies ensures that
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Bootstrapping Opal 📈
As an up and coming DeFi project, Opal is at a turning point where it requires to snowball its growth and reach the so-called “escape velocity”.
In preparation for it, a seed round was conducted strategically to bootstrap Opal’s network effect, engaging
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Introducing Opal DeFi 💎
Ancient murals tell the story of a crypto kingdom in great expansion, harvests were great and resources were flowing.
Today, as we can feel the underground rumblings announcing the return of the sacred springs, a new protocol is about to rise.
🧵
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To establish a strong product market fit with the on-chain hub for LST liquidity, and harness the efficiency of ve80/20 governance tokens; Opal is set to launch on
@Balancer
&
@AuraFinance
ecosystem.
Embarking on this journey marks the start of a long term chakra alignment in
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As the excavation continues, signs point to a captivating discovery.
The veil lifts, revealing the newly released landing page.
Link in bio 🔗
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Opal Governance Framework
Bringing together killer features of successful models, Opal achieves sustainability and capital efficiency by encouraging all stakeholders to coordinate and balance interests to reach an equilibrium.
Let’s dive into Opal's hybrid governance system
🧵
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Sneak peek alert!
Opal is giving you an exclusive glimpse into the upcoming Dapp.
The full reveal is just around the corner, let us know your feedback !
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Diggers, it's your time to shine and prove what side of the curve you’re on.
Introducting the CT Quant Contest!
Dive into Opal's metrics, showcase your data analysis skills, and project your insights in the fresh "Do the Maths" Discord channel or share it directly on Twitter!
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Opal’s Flywheel
Designed to deepen on-chain liquidity and simplify access to sophisticated farming opportunities, Opal introduces a set of synergistic and innovative features.
Let’s see how it will help the project to sustain a competitive value proposition over time
A thread🧵
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Opal launch countdown 🚀💎
After a year of dedicated efforts, we’re proud to announce the imminent launch of Opal v1. This inaugural version introduces a focus around LSTs and LRTs, starting with an initial set of four Omnipools, namely $wstETH $rETH $wETH and $weETH.
While
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Opal is LIVE! 💎🚀
dAPP available at:
Claim your $GEM from the LBP on the Redeem page
$GEM/$ETH official pools,
Balancer:
UniV3:
During the first farming epoch, withdrawals on Opal Omnipools will be
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The $GEM fair Launch has ended, a crucial milestone in our cave journey.
Important: To protect $GEM tokenomics, the official token won't deploy until the whole protocol is audited. Audits results expected by early Feb. You can wait for the 1:1 GEM token redemption at launch or
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Market may be down but revenue is up, 💎 collector
Opal has forged a strategic collaboration with
@MEVCapital
!
This will play a pivotal role in fueling Opal's TVL & Governance, deploying ≈2,000 ETH into the Omnipools 🚀
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Harness the efficiency of native restaking and deepen on-chain liquidity for $weETH through the ultimate Omnipool flywheel!
Opal is delighted to receive
@ether_fi
support to bootstrap the first farming strategy earning $BAL, $AURA, $GEM, LRT points and LSTs native yield 💎
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Opal's Strategic Allocation of LBP Funds Unveiled: A Vision for Growth and Security 💎
In a comprehensive breakdown, Opal is excited to elucidate how the funds garnered during the Liquidity Bootstrapping Pool (LBP) event will be strategically utilized. This thread aims to
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Get ready for a journey as long as the Great Wall itself, where ancient wisdom meets modern technology.
As you prepare for the Chinese New Year, Opal is filling up gems in the red envelopes, soon ready to send it ! 🐉
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Only 24h left to participate in the $GEM fair launch! 💎⛏️
Reasons to be early ? Well, too many to list them but one thing is for sure, it’s your last chance to be part of it 👀
1 million thank you fam’ !
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vlGEM vote market partnership 💎
Discover how Opal diversifies revenue sources for $GEM holders, while strengthening intrinsic value of Omnipools TVL, through voting incentives.
Embarking on a journey with
@Paladin_vote
, the most advanced platform on the market 🛡️
thread 🧵
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Opal was approved for a grant from
@BalancerGrants
to develop Omnipools for LSTs/LRTs and stablecoins of the DEX’s ecosystem!
Fashioned like a decentralized liquidity manager, Opal is bringing sophisticated farming strategies to a wider audience.
A thread 🧵
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Already over 1,300 tunnels explored in the Grand Underground game, that’s like 1 tunnel every FIFTEEN minutes wtf
Join Opal discord and become eligible to the $GEM Airdrop ! ⛏️🪂
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Cave's logbook: A Journey of Milestones! ⛏️
As we edge closer to Opal launch, let’s take a moment to review our achievements post-LBP:
Security First: Completed two successful audits - a testament to our commitment to safety, with complementary assessments from
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vlGEM Design & Benefits 💎
Following the launch of Opal Omnipools and $GEM token generation event, comes the time to remind how both are intrinsically linked.
Let’s highlight a few bullish metrics and detail Opal’s growth catalysts:
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Opal is thrilled to share an update on the partnership with
@HalbornSecurity
! Audits are underway and progressing smoothly. Anticipating a few weeks of thorough assessments before launching the omnipools.
Meanwhile, the LBP is still live and will run for the next 48 hours.
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Opal Governance Forum 💎⚖️
In anticipation for the upcoming protocol launch, a new room has opened in the cave to establish the command center.
This space will be dedicated to discussions, temperature check, and informational content around Opal development. 👇
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Quick 💎 maths:
6.5M circ supply at launch -> 22% already locked and earning 80% APR -> 5M current circ supply
278k vlGEM supply controlling $8M TVL + $15k GEM emissions every week -> each vlGEM controls annually $2.8 of emissions (8x $GEM value) and $28 of liquidity (80x
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"This simple mechanic is a game changer for Yield-Bearing token protocols and has led to Balancer becoming a dominant technology host of these tokens."
Read
@Balancer
latest article to understand why Opal chose the DEX as its primary ecosystem and will contribute to
#BuildBetter
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Gm collectors! 💎
Nothing better on a bull market Sunday than reading
@AlphaPackedHQ
latest article with a cup of hot choccy.
Opal will be sponsoring the newsletter for a few weeks, the name says it all anon, expect much alpha to be shared there. ⛏️
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It's Opal's mission to become a central place for optimizing LRT liquidity. That's why we're supporting
@RenzoProtocol
’s ezETH with wETH Omnipool to deepen its counterpart liquidity on Balancer and thus reinforce its stability and efficiency.
Next step is to open a dedicated
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Opal x
@Cantinaxyz
Security Review Competition 💎
Marking the last step before launch, Cantina will be hosting a one week audit competition offering independent security researchers $40,000 to review Opal smart contract suite one more time!
thread 🧵
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Gm Collectors! ⛏️
The successful completion of Opal's 2nd smart contract audit, prior to the protocol launch by
@cantinaxyz
, have been confirmed recently with the delivery of the final report.
This is a testament to the collaborative efforts between Opal and security
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Opal Smart Contract Audit
We are pleased to announce the successful completion of the audit of Opal’s smart contracts suite by
@HalbornSecurity
.
Opal is delighted to have collaborated with a foremost expert in Web3 security renowned for their proven track record.
📢 We are thrilled to announce that we have successfully completed our smart contract
#security
assessment for
@OpalDeFi
—an LST/LRT & Stables Omnipools launching on
@Balancer
&
@AuraFinance
🔒
🔗 Full report available:
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Submitted a request to update circulating supply metric for Opal $GEM through
@coingecko
! 🦎
🎫Request ID: 63484
🔗GeckoTerminal url:
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Come hang out in the cave :
And complete the zealy quests to climb up the leaderboard :
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Meant to bring equilibrium in the market, no wonder why it started on
@Balancer
⚫️
you can feel it in your guts, the energy is palpable, no wonder why it started on
@AuraFinance
🟣
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Treasury strategic allocation 💎
Opal is proud to announce its participation to
@usualmoney
new stable USD0 private bootstrap with a strategic deposit of $100,000
As part of the protocol owned liquidity distribution revamp introduced in OIP
#2
and further partially
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What's more bullish ? ⛏️
Retardio.
$8,000,000 TVL
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40% APR on LRTs
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$2.6M circ cap
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Omnipools Withdrawals Opening ⛏️
After monitoring the rebalancing module behavior for around a week, the Omnipools withdrawals are now enabled.
The ongoing liquidity bootstrapping phase rewarding early depositors with boosted GEM emissions will keep going during the upcoming
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Make $vlGEM earn 3 digits APR in $BAL & $AURA by supporting the Balancer GEM/ETH gauge creation.
$veBAL and $vlAURA holders, your vote will enable the Single recipient gauge to redirect the pool emissions toward vlGEM holders. ⛏️
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GM collectors,
We're excited to share that the fee rebate from the
@FjordFoundry
LBP has been distributed.
Opal has returned 25% of the trading fees from the LBP back to you to spare you from any claiming fees. 💎
Dig ⛏️
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vlGEM flywheel intensifies 💎
Thanks to the GEM/ETH single recipient gauge approval, vlGEM holders are now earning around 100% APR in native $BAL & $AURA emissions!
In addition, 60% more APR is projected in $ETH from protocol fees based on current vlGEM supply. ⛏️
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Left side of the curve hit again with the pasta. 🍝
Cannot control the hungry diggers ⛏️
Diggers, it's your time to shine and prove what side of the curve you’re on.
Introducting the CT Quant Contest!
Dive into Opal's metrics, showcase your data analysis skills, and project your insights in the fresh "Do the Maths" Discord channel or share it directly on Twitter!
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OIP
#1
Opening the first stablecoin omnipool for USDC
This proposal will explore Opal's entry into the stablecoin arena, featuring the first USDC omnipool for Balancer ecosystem, contributing to deepen liquidity on
@aave
's $GHO and
@InverseFinance
's $DOLA pairs.
We welcome your
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Epoch 0 rewards distribution completed 💎
To Omnipool LPs:
- 1,701 $BAL
- 4,920 $AURA
- 111,540 $GEM
- 180,300 $esGEM (Remember to mint it to start the claim cooldown)
Total worth: $50,835
To vlGEM holders:
- 42,069 $GEM (bootstrap bonus)
- 1.7 $ETH (GEM/ETH trading
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Cave's Logbook: Farming Epoch 0
Gauge migration and rewards:
We are pleased to announce the successful conclusion of Opal's farming epoch 0. To transition towards vote-managed gauges, a migration process for all liquidity providers (LPs) is required. This process involves two
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This is where Opal comes into play,
the protocol employs Omnipools to mutualize strategic single assets liquidity, such as stablecoins and liquid staking derivatives, and deploy it efficiently on veDEXs pools.
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USDC Omnipool LIVE 🧑🌾
Earn 200%+ APR and contribute to
@aave
’s $GHO and
@InverseFinance
's $DOLA on-chain depth 💎
Following the successful approval of OIP
#1
by Opal governors, the first stablecoin Omnipool is now open to deposits!
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vlGEM APR sitting above 200% since Opal launched, and the best part is vote incentives haven’t even started yet 💎
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@AuraFinance
Really enthusiastic to strengthen this already powerful DeFi stack, thanks for the s/o frens!
Purple coin gud 🟣
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How OIP
#3
introduces constant $GEM buy pressure ? ⛏️
By design, Opal TVL farms native DEX and lockers emissions (here $BAL & $AURA). But what happen when projects adds direct liquidity mining of their own token to their liquidity pools ?
It is simply swapped for $GEM before
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For Opal, using an LBP for the $GEM TGE meets various strategic needs
- Highlight the project’s alignment with its ecosystem
- Facilitates a flexible public sale with reasonable initial funding needs
- Offer fair chances to every users to participate in Opal decision making
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Just 24 hours left! ⏰
$veBAL and $vlAura holders remember to cast your vote to enable the Balancer GEM/ETH gauge.
Let's get some juicy yield for $vlGEM holders! 💎
Make $vlGEM earn 3 digits APR in $BAL & $AURA by supporting the Balancer GEM/ETH gauge creation.
$veBAL and $vlAURA holders, your vote will enable the Single recipient gauge to redirect the pool emissions toward vlGEM holders. ⛏️
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Stay tuned for the next article, releasing last details about audits results before Opal finally launches in production!
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Article:
Fjord Foundry Partnership
Opal will partner with
@FjordFoundry
to offer the smoothest experience.
Fjord Foundry's strong reputation led to an exclusive collaboration with Balancer, making it a trustful partner for Opal's public offering.
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What is a LBP
A Liquidity Bootstrapping Pool (LBP) is an innovative decentralized approach to facilitate fair and transparent token launches.
Participants have the opportunity to engage in community-driven price discovery, buying tokens at a price point they find equitable.
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OIP
#2
: Treasury Revamp and $GEM Buyback 💎
- Increase vlGEM APR to 150%
- Introduce a $100,000+ buyback budget from PoL yield
- Offset voting incentive costs for the treasury
Amidst the various operations going on to reinforce TVL inflows and bullish sentiment on Opal, the
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LBPs dynamically change the paired tokens weighting using math based on time-dependent weights. The starting and end weights and times are predefined.
Participants can buy in at any time during the LBP duration, pushing the token price up and deepening paired liquidity.
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Designed to enhance the value of liquidity distributed via Opal for governors, and benefits users with higher yield opportunities; bringing scalability with an Omnidex vision as well as coordination through a well thought governance system.
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This pricing model discourages the quick purchases typical of sniper bots and mercenary frontrunners in general LP launches.
Instead, it encourages participation from individuals interested in the project, ensuring a more equitable and intentional distribution of tokens.
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Flywheel in full swing!
The recent surge in $AURA has boosted the base yields of Opal significantly.
With the impending TGE of
@hyperlockfi
, it’s clear that people are starting to recognize the value of
@AuraFinance
’s ecosystem! 🟣💎
The new stats page is live on the Aura website. 👀
👉
You can even leave feedback and feature requests from the button on the UI.
For those wanting to go even deeper, be sure to check out the various Dune dashboards and Defilytica. 👇
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(12/13)
Opal takes a 9% fee on Omnipools farms, and 0.5% on withdrawals. Fees are held in the original currency ; 50% locked to increase protocol owned governance power and 50% distributed to $vlGEM holders.
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What’s In My Bag
#1
💎 ($wstETH)
Introducing the first tweet of a mini-series dedicated to spread awareness on Opal’s Omnipools and Underlying DEX pools assets, helping users to better understand their exposure to crypto markets through the protocol and the related benefits.
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Strategic and Fair Public Sale
Unlike batch auctions, where tokens are allocated based on set contributions, potentially allowing large investors to dominate, LBPs provide a more equitable landscape with a dynamic pricing.
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Gm Opal governors, there are a few hours left to cast your votes on the snapshot LAV, to define the distribution of Omnipools' TVL across underlying Balancer pools!
If you're unsure about the voting timelines, there's a dedicated governance category on Discord to gather all
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(8/9)
The boost mechanism will create a competitive environment between users, feeding Opal's flywheel by encouraging the compounding of rewards.
Users can decide to claim their rewards at the end of the 8-round cooldown period or to forfeit a part of their yield to claim early
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The 3 additional criteria will be related to:
- Omnipools TVL generated
- vlGEM governance participation
- Holder alignment after public sale
More details about weights, calculations and the duration of the airdrop program will be disclosed after launch in production.
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New esGEM tab appeared on the Opal dAPP 💎
But what is esGEM again?
esGEM is a reward token distributed to those who simultaneously provide liquidity in the omnipools and hold vlGEM in the same wallet.
Over two years, 18.8% of the supply, totalling 9,400,000 GEM, will be
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As long as the diggers keep digging, the growing interest in Opal will arouse the craze of the $GEM rush.
Stay tuned for the next thread disclosing Opal public offering parameters! 💎
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GM Opal governors!
Only a few hours left to vote on the allocation of the Omnipools' TVL across the Balancer pools, on snapshot.
For more details on how to vote or the voting schedule, visit the governance section on Opal's Discord.
See you soon in the cave! ⛏️
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The support from
@Balancer
is meaningful for Opal. It not only emphasizes the alignment between both projects but also streamlines the composability process.
Exciting times ahead as Opal continues to
#BuiltonBalancer
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Cave’s Logbook: First iterations
New oracle integrations:
In anticipation for future OIPs requesting the creation of new Omnipools or the whitelisting of new underlying pools, a bunch of new assets oracles - including $sUSDe , $rsETH , $ETHx , and more.. - are now integrated to
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LAV
#1
: Gauge Weights for week of 11th April 2024
During a 5 days period that started April 11th 00:00 UTC, vlGEM holders can exercise their governance power to define the liquidity allocation weights of every Omnipools' TVL toward underlying DEXs pools.
Hover the list of
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Looking forward to
@Balancer
v3 imminent launch !
Check out this very insightful post to better understand what will shape Opal’s future in Balancer ecosystem !
Very bullish on the return of boosted pools 💎
A new post by
@fcmartinelli
appeared on the
@Balancer
forum, sharing his thoughts on the protocol’s future.
Here’s a quick summary for those with diminished attention spans. 👇
Balancer v2 has already proven to be the place for developers to experiment with new and
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Article :
Advent Calendar - Cash prize
Today marks the end of the Advent Calendar Event and thus the race to the leaderboard top 10 ranks. $12,000 cash prize is to be shared by the winners:
1st: $2,000
2nd: $1,700
3rd: $1,300
4th-10th: $1,000
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Prioritizing security defines Opal's guidelines, aligning seamlessly with Balancer's vision.
Acting accordingly, the grant will help fund a second audit campaign, starting next week and lasting around 10 days, leveraging a community oriented competition model.
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The Advent Calendar Event will reward the early community with a total of 500,000 $GEM shared proportionally to users’ weight w defined by:
w = (UserZealyScore * SnowflakeMultiplier)/ CumulAllScores
*Snowflake multiplier applies to players with the snowflake discord role.
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(1/13)
More info :
From a user’s perspective, Opal tokenomic encourages alignment between governors and Omnipools LPs by creating interdependencies in the outcomes of their respective behaviors.
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Link to the Cave:
Link to Zealy:
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Overall, let’s recap all the revenue sources of Opal ecosystem:
- DEXs emissions
- Liquid Lockers emissions
- $GEM emissions
- $PAL emissions
- $vlGEM voting incentives
- Revenue sharing
- Restaking protocols points farming
- $GEM Airdrop farming
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(13/13)
Stay tuned for the next thread that will disclose the parameters of the $GEM token generation event, occurring through a multiple steps process including a public sale.
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