ON–098: DeFi (Part 2)
Coverage on Paraswap
Nov 19, 2021
- The $PSP launch drew some ire from the increasingly hard to please crypto community. The token was airdropped to 20,000 of their most active users across the multiple EVM chains they serve, excluding ~98% that had used Paraswap at one time or another. The Paraswap team put a lot of effort into filtering out "sybil attacks" and/or traders who used the DEX aggregator primarily for a future airdrop. As of Thursday afternoon EST, 89 million of the 150 million $PSP had been claimed.
- The day of the launch, Alameda and Three Arrows Capital added to the Uniswap V3 liquidity pools. They added $ETH only, making limit orders around the $1.40 level. The token currently sits around $0.90, with a circulating market cap of $100 million. Note: there are no investor unlocks until March 15th, 2022.
- This Saturday, the Paraswap DAO makes their debut in their first community call. Voting can only be done with unstaked $PSP. The unofficial Twitter poll makes it look like $PSP may soon be available on Avalanche.
