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The Future of Order-Book Liquidity (Part II - deUSD)
By
Anil Lulla•
Elixir introduces deUSD, a synthetic dollar backed by stETH and short ETH-PERP positions, enabling delta-neutral yield generation. Users can participate in Elixir’s ecosystem by supplying liquidity or using deUSD as collateral for market making. deUSD earns from stETH yield and perp funding, while an over-collateralized insurance fund (OCF) dynamically adjusts deUSD’s backing between basis trades and sDAI to manage risk. Minting/redeeming is done by authorized participants, while everyday users access deUSD via swaps on Curve. All yields initially go to the OCF, with user rewards subsidized by Elixir Potions.

Elixir: Democratizing Liquidity Provisioning in the Age of Orderbooks
By
Anil Lulla•
Elixir enables anyone to provide order-book liquidity. In the same way that Uniswap democratized access to liquidity provisioning via AMMs, Elixir wants to do the same for order-books.

The Future of On-Chain Liquidity
By
Anil Lulla•
Introduction Despite the adoption of Automated Market Makers (AMMs) in the DeFi space, numerous problems persist. Liquidity providers(LPs) enter the […]

Maverick Takes Aim at the DEX Landscape
By
Anil Lulla•
There’s a brand new DEX in town, and it’s quietly sitting among Ethereum’s top 5 DEXs by volume. Maverick Protocol has been off to a great start since its recent launch on Ethereum and zkSync.

Gary's Protection
By
Anil Lulla•
Gary’s Protection In spectacular fashion, the SEC has filed lawsuits against the two largest cryptocurrency exchanges, Binance and Coinbase, on […]

Uniswap's Fee Switch
By
Anil Lulla•
Uniswap has a cumulative total of ~$1T volume, often competing with CEXs like Coinbase for volume on major pairs. Uniswap views CEXs as its primary competitor rather than other DEXs. The Uniswap community is sitting on a lever that could enable them to re-direct a portion of the protocol’s fee revenue to governance, otherwise known as the fee switch.
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