Tracer Brings Perpetual Pools to Arbitrum

MAR 02, 2022 • 12 Min Read

DISCLOSURE: DELPHI VENTURES HAS INVESTED IN OFFCHAIN LABS (ARBITRUM). MEMBERS OF OUR TEAM ALSO OWN TCR. THESE STATEMENTS ARE INTENDED TO DISCLOSE ANY CONFLICT OF INTEREST AND SHOULD NOT BE MISCONSTRUED AS A RECOMMENDATION TO PURCHASE ANY TOKEN. THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND YOU SHOULD NOT MAKE DECISIONS BASED SOLELY ON IT. THIS IS NOT INVESTMENT ADVICE.

Key Takeaways

  • Tracer enables anyone to deploy permissionless derivative contracts on Arbitrum. There is currently $13.9M of TVL in Tracer contracts, down from a peak of $50M.

  • Perpetual Pools are a unique derivative structure for leveraged tokens. A performance analysis indicated Tracer leverage tokens outperformed FTX and traditional forms of leverage by 6-17%. Additional yield strategies include staking leverage tokens, triple digit yield bearing delta-neutral Balancer pool positions and skew farming.

  • The launch of V2 will enable volatility decay resistant leverage tokens and indices. Upcoming vault strategies utilizing the new EIP-4226 standard and a Nominal GDP stablecoin are on the roadmap.

  • The current primary use case for TCR is governance. Although the TCR token accrues little protocol value at the moment, vote-escrow TCR (veTCR) was recently introduced. This could materially improve value accrual and give greater utility to holders.

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