TIMEWAVE
@TimewaveLabs
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we build tools to facilitate long-term, permissionless collaboration. contributing to @valencezone
spacetime continuum
Joined January 2023
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Pinned Tweet
A representation of the Flower Clock described by the Swedish botanist Carl Linnaeus in Philosophia Botanica (1751). Linnaeus proposed that such a clock could tell time through the arrangement of plants whose flowers open and close at particular times of day
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Our bad team keeps getting badder.
We are hiring software engineers with 3+ years of Rust experience. See our X profile for more details.
@badkidsart
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Join our bad team
@badkidsart
We're hiring an exceptional Engineering Manager at
@TimewaveLabs
to help create a more cooperative Interchain economy
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🥇
@Neutron_org
and
@StargazeZone
just made crypto history by being the first two blockchains to lend liquidity to each other without ever needing a multisig to mediate the deal. There is now ~$400K more liquidity for the NTRN:STARS pair on
@astroport_fi
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We are resubmitting our proposal to make
@Neutron_org
our long-term home. What happened with the first proposal? Why should NTRN holders be excited to vote YES on this proposal?
🧵 👇
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Covenants are now ready to handle protocol-to-protocol deals on mainnet!
Which protocols will be the first to enter into a trustless agreement with each other? Frontrunners currently include:
-
@cosmoshub
-
@Neutron_org
-
@Shade_Protocol
-
@StargazeZone
We have now published our audit report of
@TimewaveLabs
' Covenants
@CosmWasm
smart contracts. Read about our findings and recommendations in the full report:
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Congratulations
@NolusProtocol
and
@Neutron_org
for becoming the first chains to share liquidity with one another without an intermediary multisig. This level of interchain collaboration is only possible with Covenants
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⚖️ Rebalancer v1 is nearly done with its first audit. What is the Rebalancer? When will it be ready? Why should all DAOs be excited about it? 🧵 👇
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🌊 Liquid restaking protocols are key players in the restaking ecosystem because they facilitate relationships between depositors and AVSs. In Timewave's first blog post, we cover the problems with nearly every LRT design and the changes LRTs can make to add more value to their
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We just posted a draft proposal on the Hub's forum for the
@cosmoshub
to create a governance-controlled interchain account (ICA) on
@Neutron_org
. Here's why we expect for this proposal to have broad support 🧵 👇
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.
@StargazeZone
made crypto governance history today by passing Proposal 266. As far as we know, this is the fist time that a chain established an account on a different chain AND controls that account via onchain governance.
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The frontrunners to participate in the first ever trustless blockchain-to-blockchain deal are
@Neutron_org
and
@StargazeZone
. The Covenant has been instantiated and proposals from both communities are live to fund the Covenant. Cast your votes below 🗳️👇
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Bad kids having a bad time on our bad team retreat
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This proposal for
@StargazeZone
to create a PPA on
@Neutron_org
is now up for vote:
Similar draft proposal up to establish Stargaze's governance-controlled Polytone proxy account (PPA) on Neutron. Covenants are compatible with both interchain accounts (ICAs) and PPAs
@StargazeZone
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$NEWT 💦🤝💦 $ATOM?
$NEWT 💦🤝💦 $NTRN?
$NEWT 💦🤝💦 $KUJI?
$NEWT 💦🤝💦 $OSMO?
@cosmoshub
@Neutron_org
@TeamKujira
@osmosiszone
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Now that we have a better understanding of "liquidity," let's now deepen our understanding of "protocol-owned liquidity" (POL) 🧵 👇
The word “liquidity” is thrown around a lot in crypto, but what is liquidity? Let’s dig in to understand this term more precisely 🧵 👇
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Nolus and Neutron previously used a multisig to manage this shared liquidity.
@StargazeZone
and
@Neutron_org
are on track to become the first chains to share liquidity with each other without ever needing an interim multisig
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Draft proposal up on Shade Protocol forum to establish Shade's governance-controlled ICA on Neutron. This ICA would enable Shade to enter into Covenants with any other entity that has an ICA or Polytone proxy account on Neutron
@Shade_Protocol
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Liquidity-as-a-Service explained and why the Cosmos Hub has the most to gain from it
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Reasons why multisigs are inaqeduate for DAO-to-DAO liquidity deals
🧵 👇
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Covenant v2 just submitted to
@SecurityOak
for audit
@ATOMAccelerator
is supporting our buildout of Covenant v2! Did we just skip Covenant v1? A thread on the Covenant system past, present, and future 🧵 👇
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There is no conflict between ATOM as governance token and ATOM as money. The two are synergistic. ATOM governance can improve ATOM's moneyness by setting an effective monetary policy
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@brane_trix
@rajkumarbas11
We currently allow $ATOM to send liquidity to various chains and earn LP fees. Soon, we plan on adding the capability to charge interest
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1/14 Cosmonauts, we recently published a long-form response to
@binary_builders
’ post about the Atom Alignment Treasury (AAT). In it, we describe why we believe that the AAT’s resources would be best utilized by pursuing Liquidity-as-a-Service (LaaS). 🧵👇
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We’d gladly offer our tooling for the blockchain-to-blockchain liquidity sharing
@dualityxyz
The third Consumer Chain draft proposal is here 👀
@dualityxyz
is a user-centric
#DEX
Sharing 100% of swap fees to liquidity providers, and 100% of gas fees & MEV to the Cosmos Hub ⚛️
Should Duality join the
#Atom
Economic Zone?
Read the proposal and share your feedback 👇
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Cosmos 🤝 Ethereum. The Interchain is stronger together 💪
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The Hub's competitive advantages of on-chain governance and deep liquidity make it well positioned to make the deployment of protocol-owned liquidity its core business. ATOM wars is an opportunity to increase the automation of this core business
ATOM wars post is live on the Cosmos Hub forum ⚛️
TLDR: we're looking to build a system that gives $ATOM holders the ability to lock up their staked tokens in exchange for boosted decision power in the allocation of liquidity into third-party projects
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@Neutron_org
🤝 Timewave. We’re honored to be welcomed into the Neutron community with such resounding support. Let’s buidl 🛠️
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The word “liquidity” is thrown around a lot in crypto, but what is liquidity? Let’s dig in to understand this term more precisely 🧵 👇
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The proposal to establish the
@cosmoshub
’s governance-controlled ICA on
@neutron_org
is now live. See thread below for why this vote should be an easy “yes” 🗳️
We just posted a draft proposal on the Hub's forum for the
@cosmoshub
to create a governance-controlled interchain account (ICA) on
@Neutron_org
. Here's why we expect for this proposal to have broad support 🧵 👇
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🏆 Congratulations
@Shade_Protocol
and
@Neutron_org
for completing a Covenant! This Covenant uses 31,971 SHD from Shade and 136,366 NTRN from Neutron to provide liquidity to the SHD:NTRN pool on
@astroport_fi
on Neutron
ICYMI
@Neutron_org
Prop 39 passed!
⚡️ Shade and Neutron have teamed up to provide joint liquidity 💰 using
@TimewaveLabs
Covenants for the new pool on
@astroport_fi
! 🌊🚀
$SHD <> $NTRN
💎 Dive into the pool:
#DeFi
#Astroport
#PrivateDeFi
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The Interchain Allocator’s covenants can work not just between Cosmos SDK chains, but also work between any two blockchains.
Polkadot<>Cosmos is an ideal place to begin cross-ecosystem liquidity sharing.
1/ 📢 Proposal for discussion to allocate $DOT liquidity for use within the
@Cosmos
ecosystem. Check the thread and proposal for discussion to learn more 🧵👇
🗳️
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Mesh liquidity (🕸️, 💦 )
Let's talk about
@TimewaveLabs
and Covenant, which will probably be $ATOM's killer app if used properly. 🧵
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🤝 Covenants have been used in the past to migrate a protocol-to-protocol deal off of a multisig onto a trustless solution. Going forward, protocols do not need multisigs as an interim step—they can go straight to using Covenants for shared liquidity deals
Congratulations
@NolusProtocol
and
@Neutron_org
for becoming the first chains to share liquidity with one another without an intermediary multisig. This level of interchain collaboration is only possible with Covenants
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The first international free trade agreement, the Cobden-Chevalier Treaty, was finalized in 1860 between the United Kingdom and France, prepared by Richard Cobden and Michel Chevalier; it sparked off successive agreements between other countries in Europe. [Source: Wikipedia]
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@ATOMAccelerator
is supporting our buildout of Covenant v2! Did we just skip Covenant v1? A thread on the Covenant system past, present, and future 🧵 👇
7/ We are therefore delighted to support
@TimewaveLabs
in building their Covenant v2.
The Covenant System is a set of public goods that enable blockchains, DAOs and protocols to enter into trustless financial agreements with one another.
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Protocol M&A is tricky. Fortunately, it looks like
@Neutron_org
and
@dualityxyz
are sticking the landing
🤸🤸🧍🧍👏👏
App-specific infrastructure is coming to smart-contracts ✴️
Introducing Neutron's next release 👇
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🚪 Should either community wish to withdraw their assets, they may do so at any time by passing a governance proposal ordering the withdrawal. Upon withdrawal, all of the resulting STARS will go to Stargaze and the resulting NTRN will go to Neutron
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@berachain
, ATOM Wars (
@cosmoshub
), and now
@initiaFDN
are all examples of protocol-to-protocol liquidity sharing. This new category is on track to increase Interchain DeFi >10x similar to how commercial/public debt increase TradFi debt markets by >10x. Timewave builds tools for
Send an asset on one rollup, receive any on another. No trouble, no fuss.
Inter-Minitia swaps are routed through InitiaDEX, an L1 native DEX baked into the chain and strengthened by Enshrined Liquidity.
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Similar draft proposal up to establish Stargaze's governance-controlled Polytone proxy account (PPA) on Neutron. Covenants are compatible with both interchain accounts (ICAs) and PPAs
@StargazeZone
Draft proposal up on Shade Protocol forum to establish Shade's governance-controlled ICA on Neutron. This ICA would enable Shade to enter into Covenants with any other entity that has an ICA or Polytone proxy account on Neutron
@Shade_Protocol
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💵 Stargaze and Neutron contributed equivalent amounts in $USD terms of their native tokens to the deal: 287,979 NTRN and 10,901,956 STARS. The resulting LP tokens are now owned and controlled by the Stargaze and Neutron communities
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Multisigs for DAO-to-DAO liquidity deals are **at best** only a temporary stopgap. Covenants are the long-term solution.
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📥 Reach out if you are a member of a crypto-native organization that would like to lend or borrow liquidity from another crypto-native organization. Our dms are open
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8️⃣ This sort of two-party POL is already happening.
@Neutron_org
and
@ApolloDAO
are each contributing $500K of their native token to bootstrap NTRN:APOLLO liquidity. Individually, only $500K of liquidity would have been added. Together, $1MM of liquidity is added
🤖🤝🤖
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🙇 shoutout to teammates
@UditVira
for leading product and
@0xArt3miX
for leading the engineering work necessary to get this done
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🚨
@NolusProtocol
has entered the race to be a part of the first trustless protocol-to-protocol deal. Be sure to vote on their proposal to establish their governance-controlled ICA on
@Neutron_org
Covenants are now ready to handle protocol-to-protocol deals on mainnet!
Which protocols will be the first to enter into a trustless agreement with each other? Frontrunners currently include:
-
@cosmoshub
-
@Neutron_org
-
@Shade_Protocol
-
@StargazeZone
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Timewave is building the infrastructure to enable liquidity sharing agreements like this to happen entirely on-chain without any multisigs
$ATOM = Alignment 🤝
Started a discussion on how $ATOM can be used to:
1. Generate revenue for the
@cosmoshub
community pool with stkATOM by
@pStakeFinance
2. Strengthen itself as the center of Cosmos LSTfi
3. Align multiple chains - (
@Neutron_org
,
@astroport_fi
) ,
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.
@valencezone
is the culmination of over a year of work from the
@timewavelabs
team to improve protocol-to-protocol collaboration
1/7 Crypto is the medium through which society will produce the next generation of digital institutions. The purpose of Valence is to maximize long-term, permissionless collaboration by empowering these new institutions. 🧵 👇
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building our integrated app on
@Neutron_org
🫡
Introducing Neutron as the Integrated Application Network ✴️
By granting smart contracts the powers of an appchain, Neutron enables developers to build breakthrough applications and onboard users from anywhere.
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9️⃣ The example above is a bilateral POL deal. When will the first multilateral POL deal pass between three or more protocols? 🤔
Trick question—it has already happened:
@Neutron_org
@TeamKujira
@MantaNetwork
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Second open role at Timewave: Intermediate/Senior Front End Engineer
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Rock your vote 🗳️
Governance Update✴️
The latest governance update for
@Neutron_org
and
@cosmoshub
is now live.
Two live proposals on Neutron need your vote:
✅ Make Neutron
@TimewaveLabs
' Home
✅ Technical Omnibus
👇
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Meeting a lot of interesting and curious people during our hiring interviews. Incredible to see that crypto talent is so globally distributed and that there is growing interest in switching to cosmos tech
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@max_einhorn
is going to give an update on what we’ve been cooking up in the Timewave Lab. Tune in Tuesday Feb 13th 11am EST
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Shoutout to Timewave teammates
@_bekauz
and
@0xArt3miX
for winning 3rd place 🥉 at
@awesomewasm
's
@Neutron_org
track
/10
Orbital -
@TimewaveLabs
(won
@Neutron_org
's 3rd place)
Enables cross-chain intent orders.
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One thing the Hub could do with the ICA is migrate its POL deals away from the AADAO multisig and onto our Covenant System. Using the ICA in conjunction with Covenants expands the number of actions that the Hub can take in a trustless manner
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*Summary of proposed terms:*
Timewave to:
• build its flagship products on Neutron
• share 20% of revenue with Neutron for the first 24 months
📅
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4️⃣
@BaselineMarkets
's POL innovation is to re-introduce the protocol as a maker and an issuer. By owning the primary market, Baseline can use trading fees to accrue value to a guaranteed floor price and offer token holders leverage at the floor price that cannot be liquidated 💪
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1️⃣0️⃣ That's it! Liquidity is simply the capacity for quality price execution. Now that you understand liquidity, we can dig into protocol-owned liquidity (POL) in a future tweet. Stay tuned 📻
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Timewave will provide Neutron with quarterly reports on our KPIs, which cover the following categories:
1. Covenant System
2. Rebalancer
3. Public goods
4. Mergers and acquisitions
📰
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1️⃣0️⃣ Timewave helps protocols push the limits of what’s possible with POL by enabling onchain POL deals without the need for a proxy multisig. If you are a member of a protocol interested in using state-of-the-art POL tools, we’d love to hear from you 💜
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Why do institutions have such a large impact on financial markets?
Reason
#1
. Protocol treasuries: protocols directly increase DeFi activity when they use their treasuries to buy, sell, borrow, or lend assets to other DeFi participants
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Timewave's first proposal to Neutron last summer did not reach quorum due to a number of technical difficulties, which were not wholly unexpected. We were the first to use Neutron's new governance system and technical issues often arise when doing something for the first time.
💻
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This is a good deal for Timewave because it will accelerate our go-to-market and it is a good deal for Neutron because it will:
1. Attract ATOM liquidity 💦
2. Increase MEV 🤖
3. Solidify Neutron as a power center 💪
4. Attract new capital 💰
5. Demonstrate capabilities 🤸
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Institutions play a larger role in finance than individuals do. TradFi institutions are businesses and governments. Crypto's institutions are blockchains, dApps, and DAOs (i.e. protocols)
❗ Protocol participation in DeFi can serve as a 3️⃣x force multiplier on DeFi activity❗
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As part of our partnership with
@Neutron_org
, we committed to producing a quarterly report. We are three months into our partnership so we're happy to share report
#1
:
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📮 If you are involved with an LRT in any ecosystem and want to learn more about how Timewave's state-of-the-art tools can help your LRT provide more value to AVSs, we'd love to hear from you. dms are open
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5️⃣ Timewave stands on the shoulders of these giants as we continue to innovate with POL. For example, rather than bid a protocol's native asset relative to foreign tokens, the protocol may want to bid its native asset relative to a strategically relevant liquid staking token 🪙
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9️⃣ All else equal, a more liquid asset is better than a less illiquid asset. Therefore, sellers of less liquid assets must offer an illiquidity discount to entice investors to hold the less liquid asset 🌵
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Composability in an app chain world requires the ability to perform remote actions. Today, all remote behavior must be performed via multisigs with nominated committees, which have numerous issues. The issues we wrote about in this earlier tweet apply to most DAO-to-DAO deals
Reasons why multisigs are inaqeduate for DAO-to-DAO liquidity deals
🧵 👇
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3️⃣
@OlympusDAO
innovated POL by reintroducing the protocol as the market maker in the AMM. Olympus would provide liquidity by selling bonds and using the proceeds to bid OHM. The protocol has strategic incentives beyond MM profitability to ensure OHM remains liquid 🤝
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Great step forward for the AEZ 🚶♂️
Giving back to the Hub ✴️
A signalling proposal to transfer 42,727,950 unclaimed NTRN tokens to the community pool has been published on
@cosmoshub
forum.
Let's take a look at the key points (link at the end)👇
$NTRN 🤝 $ATOM
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The math:
U.S. Household Debt: $19.6T [2]
U.S. Economy as % of global economy: 25% [3]
Implied Global Household Debt: $78T
Total Global Debt: $235T [4]
Global Debt / Household Debt = $235T/$78T = 3️⃣
^^Figures as of 2022, the last year with complete global debt data ^^
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There's still time to throw your hat in the ring
🦾 🧢 ⭕️
.
@TimewaveLabs
mission is to ensure that all who earnestly endeavor to grow the interchain are limited—not by capital—but only their imaginations and the laws of physics.
Now hiring remote!
⚡️ Engineering Manager
Apply now 👇
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6️⃣ Assets that have no USD bids can still be liquid if they can be sold for an intermediary asset that does have a liquid USD market 💵
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1️⃣ POL began with bonding curves like
@Bancor
, which enable anyone to buy tokens from a contract. The contract would then use those funds to buy tokens that were sold back to it. With bonding curves, 100% of the primary market is provided by a protocol-owned strategy 💯
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2️⃣ For example, if you have 2 apples and the market price is $1/apple, you might think your apples are worth $2. However, if the price for the second apple is $0.98 and you sell both apples, you would receive $1.98, thereby causing a 1% price impact ($0.02/2.00 = 1%) ⬇️
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7️⃣ For example, Ordinals are liquid because they can be sold for Bitcoin without significant price impact, which can then be sold for USD without significant price impact 🏜️➡️💦
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📖 Read the full blog post here:
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2️⃣ POL evolved with the introduction of AMMs like
@Uniswap
because AMMs isolate the liquidity provision function from token issuance, thereby enabling 3rd parties to provide liquidity according to a formula that could be as simple as x*y=k 🔪
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7️⃣ Another innovation is that not all POL has to come from the protocol's treasury. An even more capital efficient form of POL is to get protocols to work together by providing liquidity for each other 💧🤝 💧
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The caliber of applicants to our Rust and Frontend open positions has been up only. If you have demonstrated your passion for crypto with at least 1 year of full-time crypto experience and have excellent Rust or Frontend skills, we'd love to hear from you
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4️⃣ Bitcoin is the most liquid cryptoasset because selling bitcoin has the lowest dollar-for-dollar impact on the market price relative to selling a similar amount of any other cryptoasset 📉
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