We are Hyperliquid's DeFi Microstrategy platform. Building coin compounding through convertible bonds. Bringing the bull market back on-chain.
HyperEVM
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Our @ButtonDeFi account is safely under the control of the core team again. We will be sharing updates in the future on how this might have happened, but can assure everyone that security is of the utmost importance to us. In other news, Buttonwood is cooking on something right now! Look forward to sharing this with the community as well.
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👀 From builder to builder. DYAD deserves a look.
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👀 @ButtonDeFi and @Poolside_Party are hiring as well! The teams will also be at ETH Denver!
I'm going to @EthereumDenver with only 1 goal - get hired.
And I know I'm not the only one.
So, I've compiled a list of web3 projects & companies that are hiring and hosting side-events at ETH (pt 1). LFG ⬇️
🧵
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🗣️ Come hear @mrinconcruz deliver a presentation on LSTs as the true DeFi Treasury
Main Stage starting in 10 minutes!
@Poolside_Party @EthereumDenver
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As @mrinconcruz states here, DeFi shifts finance from a trust-based institutional problem to an engineering problem
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⏰ Starting in ~2 hours we will have FREE food, merch, along with speakers from @Injective_ @arbitrum @0xMantle @BenqiFinance @OriginProtocol & @GSR_io. Will have tickets at the door. More info: lu.ma/ybo86nqz
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Learn more about our Button Tranche contracts and how they can be used to power your next idea: github.com/buttonwood-protoc…
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🧃 Juicy returns for LPs coming to @Poolside_Party in May!
Secured the LTIP grant from @arbitrum 💸
Adding a novel stableswap curve to @Poolside_Party that will go live this May featuring hyper-incentivized pools from our partners at @KelpDAO @MountainUSDM & @Bedrock_DeFi
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💧Wrapped staked ETH ($wstETH) is live on @avax and you can get it on @poolside_party!
Thanks to @LayerZero_Labs, wstETH is now available as an omnichain fungible token (OFT) which can be seamlessly transferred across networks including BNB, Avalanche, and Scroll.
🔺Supporting a WETH.e/wstETH pair, Poolside is among the first DEXs in supporting wstETH on #Avax
For those new here – Party Points and third-party rewards will be coming soon to Poolside– follow @ButtonDeFi and @Poolside_Party to stay in the loop.
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In 20 minutes our founder @mrinconcruz and our friends from @eco & @BuildOnBeam are hosting a workshop at the @stable_summit
"Exploring different stability models of a web3 native unit of account" -- come join us!
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Tune in ⬇️
LIVE ON STAGE NOW!
@mrinconcruz from @poolside_party & FourWinds is presenting "History Suggests LSTs, Not RWAs, Will Be DeFi's Treasuries"
Watch the clip below 👇
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Heard @Poolside_Party will be giving a few of these away at #TBW2023 👀
Check out lu.ma/cpniu44t if you're in 🇹🇼 Taipei next week!
New #Poolside bucket hat. Limited edition of 100.
@Poolside_Party by @ButtonDeFi
Factory prototype pictures below.
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Top 50 and we haven't really even started making history...
𝐓𝐎𝐏 𝟓𝟎 𝐏𝐑𝐎𝐓𝐎𝐂𝐎𝐋𝐒 𝐈𝐍 𝐀𝐕𝐀𝐋𝐀𝐍𝐂𝐇𝐄 𝐁𝐘 𝐓𝐕𝐋
@BenqiFinance
@aave
@TraderJoe_xyz
@GMX_IO
@GoGoPool_
@pangolindex
@yieldyak_
@DeltaPrimeDefi
@StargateFinance
@balancerlabs
@THORChain
@StructFinance
@WombatExchange
@beefyfinance
@Uniswap
@vector_fi
@_WOOFi
@CurveFinance
@echidna_finance
@muxprotocol
@SynapseProtocol
@Geode_Finance
@TeamFinance_
@phuture_finance
@VaporDex
@steakhut_fi
@Waterfalldefi
@Poolside_Party
@throwsnowballs
@AxialDeFi
@PharaohExchange
@TheCavalRe
@fraxfinance
@pinkecosystem
@UNCX_token
@BreederDodo
@ButtonDeFi
@Alpha_HomoraV2
@prime_protocol
@thearena
@ankr
@VesperFi
@InsurAce_io
@FlokiFi
@ribbonfinance
@native_fi
@SushiSwap
@DefinitiveFi
@antfarmfinance
@ibdotxyz
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Built on our contracts. Would suggest reading our Stablecoin white paper as well: assets-global.website-files.…
interesting new defi protocol for stablecoins, it takes a coin and split it into two assets: one with muted volatility and one with higher volatility
higher vol is great for degens that want to speculate, while lower vol creates a decentralized flatcoin
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🎙️ Our very own @mrinconcruz will go live soon with @coinclub_ to talk about Buttonwood and @Poolside_Party!
Tap in if you're interested in DeFi, LSTs, and Protocol Design!
nitter.app/i/spaces/1mrGmylpMWnGy
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🤝 We're partnering with @BenqiFinance to bring sAVAX to Poolside! The LST leader on #AVAX meets the DEX built for value-accrual! It's a match made in DeFi heaven!
Ready to earn double rewards on @Poolside_Party?!
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🏊 Jump into the sAVAX pool today!
There isn't a better DEX for liquid staking tokens than @Poolside_Party! We're working with @BenqiFinance to bring double rewards for Poolside LPs 👀
LP today, and we'll see you Poolside!
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🏊♂️ Don't miss @Poolside_Party posts! They leaked some alpha from the DEX that never leaks value for LSTs, RWAs, and more!
Poolside Parties are permissionless incentive programs that algorithmically distribute rewards to LPs. This means rewards, as long as they are on-chain, can be committed to incentive programs by anyone.
What makes Parties unique is that LP tokens can be locked into multiple incentive programs simultaneously.
This means LPs can be earning multiple tokens, NFTs, or even on-chain points from the same liquidity position. This also happens without the LP tokens ever leaving your custody!
Bringing back DeFi Summer feels 😎
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🏊♂️ Have you heard about @Poolside_Party?
Check out our updated docs and learn why your favorite LSTs are coming to our next-gen DEX! DeFi finally has pools that LPs can really relax in 😎
docs.poolside.party/
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👀 We're going to be sharing some big news in our Community AMA tomorrow! If you want the latest info on @Poolside_Party and incoming incentives then join us in our Discord at 9:30PM EST!
Link is in the bio!
🎙️ Poolside AMA 🎙️
Join our host @0xYissey every Tuesday at 9:30PM EST! We share the latest alpha on @Poolside_Party and answer all community questions! Let us know in the comments if you have any questions. Last week, we let some Party info leak.
Discord link is in the bio 🦩
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🎙️ Poolside AMA Recap
@Poolside_Party is growing to be DeFi's most exciting new DEX. Here is what was discussed in our Discord and why you should be LPing:
🤝 Partnerships
We've announced partnerships with @BenqiFinance & @LayerZero_Labs! Can't wait to show the difference our AMM makes for $SAVAX and $WSTETH on #AVAX. We also have some more partnership announcements coming soon 👀
🎊 Poolside Party
Poolside Parties are permissionless incentive programs that algorithmically distribute rewards to LPs.
LP tokens can be locked into multiple incentive programs at the same time. This means LPs can be earning multiple tokens, NFTs, or even on-chain points from the same liquidity position. This also happens without the LP tokens ever leaving your custody!
🐳 Points Party
Get ready for Poolside's Points Party by providing liquidity to these pairs:
• stETH/ETH
• SPOT/AMPL
• rcbETH/ETH (Base)
• rsAVAX/AVAX (Avalanche)
More eligible pairs coming soon.
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👀 Liquidity providers interested in getting ready for Party Points should look at @Poolside_Party on Base!
LPs can wrap cbETH for rcbETH and provide liquidity for our rcbETH/ETH pool!
Help make low-slippage swaps possible and see how our AMM is a gamechanger for $CBETH 🏊♂️
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Friday at 11am⏰, come meet 10 of the hottest #DeFi projects at #ETHDenver.
Come for four amazing panels, stay for the networking, @ChickfilA and @ChipotleTweets
Join us at:
1881 35th Street
Denver, CO 80216
So who's coming? See below👇
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🐳 Points Party
Get ready for Poolside's Points Party by following @Poolside_Party and providing liquidity to these pairs:
• stETH/ETH
• SPOT/AMPL
• rcbETH/ETH (Base)
• rsAVAX/AVAX (Avalanche)
More eligible pairs coming soon 👀
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🏊♂️ @Poolside_Party is a step forward in AMM design.
Most existing AMMs struggle to support value-accruing tokens and rebase tokens because of how pools work. Pools use the token balances of their reserves to determine the price between a pair of assets. This works fine for simpler tokens but is detrimental to any productive tokens that earn yield.
Tokens that rebase like stETH suffer because AMMs mistake the additional supply as less demand. LPs' tokens get discounted, and they lose out on staking rewards and fee potential.
Tokens that accrue value like swETH also suffer because pools are inductive. Pools with these tokens leak value since the protocol doesn't understand the exchange rate has changed.
Poolside solves this with a novel mechanism and a few key features. This means that our LPs are actually relaxing in pools and earning. Stay tuned as we share more about Reservoirs, Wrappers, & Parties!
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⏳Introducing Button Swap⌛
As we approach launch, we're excited to share how we're solving a major challenge in DeFi.
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1/ BIG day for us!
- The first bonds on ButtonZero are live!
- The whitepaper has been published
- The docs have been updated
We will give you the weekend to digest, and will host a Discord Event next week to run through the app, talk about our approach, and answer questions
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Agenda finalized. We’ve added a fourth panel and speakers from @LidoFinance @MakerDAO @AmpleforthOrg @debtdao @humafinance and @prime_protocol You don’t want to miss this 🧨
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"Bank runs are a common feature seen in extreme crises that have played a prominent role in monetary history" - 2022 Nobel Prize winners Diamong & Dyvbig
SPOT is not vulnerable to runs due to how it treats redemption🧵
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Closing us out is tranching cash flows with @debtdao & @humafinance, and tranching assets with @AmpleforthOrg & SPOT
And yes @mrinconcruz managed to squeeze a comment about ButtonTranche in there
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1/ Coming July 1: ButtonZero
Looking for leverage without liquidation risk? Our web3 bond market will be live on Ethereum next week!
Unlike everything else in DeFi, ButtonZero creates non-callable debt meaning:
Zero Margin Calls
-Zero Liquidations
-Zero Coupons
-Zero Worries
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1/ Button Auctions
A new way for DeFi to transact. Price new assets. Conduct large trades. Button Auctions allow liquidity to exist from the start and for large trades to be executed without slippage.
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We are excited about the upcoming launch of $SPOT by one of our ecosystem partners @AmpleforthOrg!
More details coming over the next few weeks.
forbes.com/sites/martinriver…
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"People still underestimate the risk of black swan events"
2nd panel on the Future of Cross-chain now live⏯️
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Characteristics of what we call 'responsibly-designed' independent money:
- no reliance on lenders of last resort
- no risk of undercollateralization
- no reliance on continual growth
- no explicit feedback loops
- no risk of bank runs
- no opaque risk
- no liquidations
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Today (1st of April) is the maturity date of our first cycle! (our alpha phase)
Even though there was a negative supply movement on AMPL since the bond configuration date, A-tranche token holders were able to gain more than %20 interest rate on 3 months! Congrats everyone! 🥳
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Our founder @mrinconcruz and advisor @nfergus wrote a pretty insightful piece on Prediction Markets for the @WSJ. Check it out, and I look forward to hearing some exciting news from us soon!
wsj.com/politics/elections/h…
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1/ Money Trilemma
Most of us were taught that money is a "unit of account, store of value, and means of exchange".
There's reason to think that's wrong. Time for a thread🧵:
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SVB and Silvergate both suffered from an asset-liability duration mismatch, unable to match mass customer withdraws (S-T liabilities) with long term debt holdings (assets)
Relevant time to bump this thread and remind that #SPOT is not runnable
As @mrinconcruz has penned in a recent essay, runs can happen when 1) rules allow for on-demand note burning, and 2) rules that allow for collateral choice at redemption:
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[New] We just added a third event for @EthereumDenver!
We're excited to talk on-chain money with some founders -- @AmpleforthOrg's @brandoniles, @BeanstalkFarms's @isthispublius, DYAD's @joeyroth, and our very own @mrinconcruz
Tickets are limited🎟️: eventbrite.com/e/making-mone…
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@ButtonDeFi hosted an event with some money nerds from @BeanstalkFarms, @0xDYAD, & @AmpleforthOrg
Check out what you missed: button.finance/blog/eth-denv…
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1/ Announcing ButtonAuctions
Today we’re launching the beta version of Button Auctions, a double-sided permissionless Auctions market for any pair of ERC-20 tokens. ButtonAuctions serves as a transparent, cost-effective, and fairly competitive means of price discovery.
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1/ The first fully on-chain, permissionless non-callable debt
In TradFi, non-callable debt is commonplace. Companies issue corporate bonds without having to worry about margin calls & liquidations. They borrow funds against their reputation, company assets, and cash flows.
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We are less than 2 days away from the launch of ButtonZero!
Tomorrow: Whitepaper, Updated Docs
Friday: Launch (!), Discord AMA
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1/ Building from First Principles
The Buttonwood Foundation was formed with the goal of providing frameworks and tools for building DeFi from first principles🧵:
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Stablecoins -> tied to fiat currency
Bitcoin -> too volatile
Dalio then suggests a “storage of value” coin tied to inflation.
@AmpleforthOrg reached the same conclusion… get your $SPOT today on spot.cash
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1/ ButtonTranche
Risk cannot be created or destroyed. It can only be hidden, transferred, and stratified. As the bear market has shown us, opaquely transferring risks makes DeFi more fragile.
In contrast, stratifying risk allows us to more clearly price, hedge, and sell it🧵:
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Join us on @discord this Thursday (6/23) at 1:00pm PST (UTC -7:00) for an AMA with @mrinconcruz
discord.com/events/885694832…
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1/ We are excited to officially welcome HourGlass into the Buttonwood ecosystem🤝
@NimbleNavis was the first grant recipient, using Buttonwood core contracts to construct a convertible bond market⏳⌛️
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1/ Discount Rate vs. Interest Rate, and A- vs. B-Tranche Risk
The Discount Rate and the Yield (Interest Rate) are two *different* calculations for the bonds on Buttonwood Zero🧵:
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🏖️ SPOT/AMPL Pool 🏖️
We're excited to share our first pool on @Poolside_Party. Being a DEX that supports rebase tokens unlocks trading opportunities you can't find anywhere else.
Excited to see how people price inflation on-chain, using @AmpleforthOrg and @SPOTprotocol 👀
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ButtonToken: a Rebasing Converter
1/ Rebasing assets unlock new design choices, gas optimizations, and applications. ButtonToken converts any crypto-asset into a rebasing asset. Want to learn more?🧵
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We will be back at it again on Monday with @AmpleforthOrg talking SPOT in the Buttonwood Discord server: discord.gg/s9CkfrhK
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3/ Read our whitepaper by @mrinconcruz!
- Intro
- State of the field—margin, margin everywhere
- The scourge and terror of margin call liquidations
- Zero-token, single-token, & double-token debt
- Buttonwood Zero
- A web3 bond market
- Conclusion
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Welcome to the Buttonwood Foundation!
Our mission is to provide the framework and tools for rebuilding DeFi from first principles.
To read our Docs: docs.prl.one/buttonwood/
To join our Discord: discord.gg/ApK5HRZBQU
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In the coming days, weeks, and months, you will learn more about how SPOT:
- is not vulnerable to bank runs
- does not need interventional bailouts
- has no feedback loops
- has no hidden risk, but transparent risk
Among other things. Supplemental material to come⏳
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🤫 @Poolside_Party is optimized for stETH liquidity!
Unlike other AMMs, Poolside is designed for rebase tokens! LPs can earn swap fees alongside rewards from liquid staking.
stETH/ETH pool is on the way 👀
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Join us this Friday, at 1:30 PM PT (8:30 PM UTC), when our very own @mrinconcruz will debate Beanstalk’s
@isthispublius on Wagmi Lab’s inaugural Stabilizing Conversation!
Stabilizing Conversations brings together key DeFi thinkers to discuss core questions in crypto.
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Q: How exactly can we avoid liquidations?
A: As a borrower, you are guaranteed to get some USDT, as well as some Z-tranches as a result of your loan. This means that if your collateral loses any value, your Z-tranches will absorb the impact of that loss.
#borrowing
#lending
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Going to want to stay for the final panel. On-chain debt from founders @0xErbil & @CWALK_19 along with new innovations in tranche-land from @nmsclafani
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We are excited to finally share our new logo with the community!
The new logo will be followed by a new Buttonwood website in the coming weeks. The new logo & website are meant to signify our renewed commitment to grow the DeFi ecosystem.
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Congratulations to our friends at @NimbleNavis 🥳
Another significant milestone is now achieved by the $AMPL community. We're just as excited as you are!
#AMPL
#FORTH
#HourGlass
Thank you to everyone who helped vote on the HourGlass grant proposal! It's finished execution on-chain. We're excited & looking forward to delivering product! $AMPL $FORTH @AmpleforthOrg @ButtonDeFi @forthdao tally.xyz/governance/eip155:…
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We are excited to drive the next wave of DeFi innovations and push the industry forward.
We will begin by solving truly permissionless long term lending. More to come soon...
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Let’s give it up for our all-day moderator @mrinconcruz, currently trying to figure out if Red Bull actually gives you wings
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Borrowers of #Mooncake will reap the benefits of a possible #AMPL pump!
As CDR would increase to >1, Z-tranche token holders would receive all the upside of an #Ampleforth positive rebase.
If you believe in your $AMPL and you are in a need of cash, Mooncake is the way to go!
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For DeFi to eat TradFi, it will need infrastructure that can handle elasticity.
Poolside is an AMM protocol that solves unnecessary yield loss for elastic assets inside liquidity positions.
Stay tuned. It's going to be a big week for Poolside 🌊
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While using MoonCake:
*You never get liquidated as a borrower!
*You can get fixed rate returns & great interest rates as a lender!
And all the risk is settled upfront!
Want to learn more? We are hosting our first AMA on Discord next week!
Join here👇
discord.gg/DA2Pvn83gM
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🏊♂️ Button Swap will be rebranded into Poolside.
Poolside is an AMM where LPs earn swap fees on top of real yield from liquid staking and lending protocols.
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🔺🏊♂️ soon.
The community wanted L1s and L2s. Launched on Base last week. We're delivering. Poolside, the PARTY will be everywhere.
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Join us and @AmpleforthOrg in 10 minutes to learn more about SPOT’s launch, the design mechanics, and how it differs from other stablecoin innovations
nitter.app/i/spaces/1OdKrzQzBZpKX
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🏊♂️ Our team has done the complex math and hard work of solving for on-chain value-accrual.
Ultimately solving for value loss and leakage that occurs with these tokens inside liquidity positions.
Read the Whitepaper at poolside.party 🏖️🦩
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REMINDER: Today is the day!
At 1:30 PM PT, the first ever Stabilizing Conversations episode will feature our beloved Manny (@mrinconcruz), Publius (@isthispublius) and the special host Asfi (@WagmiLabsInk).
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1/ ButtonZero Part 3: State of Play — Existing DeFi Solutions
DeFi debt today is ill suited for longer term borrowing. This is because all DeFi debt today is callable.
Let us explain what we mean🧵:
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🏊♂️ @Poolside_Party is a next-gen DEX built for LPs. What makes our AMM unique?
🌊 Reservoirs
👙 Rebasing Wrappers
🎉 Party Rewards
Reservoirs solve for value accrual inside of liquidity positions. Rebasing Wrappers map receipt tokens to their underlying asset for better UX and accounting. Poolside Party will allow users to earn Party Points and third-party rewards simultaneously!
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🏊♂️ Our DEX is live on Avalanche 🔺
Which pairs do you want to see on @Poolside_Party? Tag your favorite tokens to trade on #AVAX below 👇
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1/ Placing a Bid
ButtonZero functions much like an order book. How do you place orders?
This thread provides some examples🧵:
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Q: What is tranching?
A: Tranching is breaking an asset into its less risky portion and its more risky portion. Buttonwood has generalized the concept of tranching. Using Tranche, we can rebuild a wide variety of financial products in a simple, robust, and composable way.
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Free time this weekend? Enter into our Art contest🎨 to win $100 USDC.
The only requirement is that a Buttonwood tree🌳 is incorporated.
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LPs on other AMMs get robbed of liquid staking rewards by arbigrateurs like this. Protocols also waste rewards covering LPs' losses.
@Poolside_Party solves this. LPs keep their liquid staking rewards. Protocol rewards aren't wasted and pool parties are just so much better!
1/ This whale has been doing arbitrage with ETH/stETH.
Let’s take a look at his strategy and see how much money he makes.
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🏊♂️ @Poolside_Party is a DEX built for tokens that accrue value like LSTs. Our reservoirs and pool parties are a game-changer for staking rewards and incentives.
Key partnerships and incentives coming soon!
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