Degen Edition 3 - Conic Finance

Investment Thesis

Out of the numerous tokenomic designs that emerged (and failed) last cycle, the vote-escrowed model proved objectively most ‘feasible’, as evidenced by Curve’s dominant position in TVL amongst DEXs. Control over a protocol’s gauge emissions made sense to many, assigning real value to governance tokens. The second-order expectations that liquidity would follow did as well. However, maximizing yield on a token on Curve became a feat edging out smaller and passively managed portfolios due to high gas fees and the emergence of newer gauge pools.

In other words, deciding on which Curve pool to allocate liquidity to is not trivial, as liquidity gauge inflation weights on Curve change weekly, and the number of Curve pools constantly increases, especially since the introduction of factory pools. Conic solves for people who want attractive yields on their stablecoins but do not want to move funds around liquidity pools (LPs).

Via ‘Omnipools’ (OP), Conic Finance represents a platform to maximize single-asset yield exposure on Curve and Convex. Today, users can deposit assets to earn competitive stablecoin yields that originate from a set of whitelisted Curve pools. In other words, liquidity prov...