[WIP #14.1] Vote on Convex Position has just passed on snapshot, with about 90% in favor of the proposal, which is to un stake and liquidate the 1.1M CVX. The scope of this proposal is to propose a specific venue for this, and highlight the benefits of such.
- Provide a venue to execute the liquidation of Wonderland’s CVX position
- Highlight the benefits of this solution
- Co-market the pool to serve interested parties as LP’s
Provide a High Level Overview
Integral SIZE is a DeFi primitive to facilitate large on-chain trades. It allows traders to execute token swaps at 30-min time-weighted-average-price (TWAP) with zero price impact relative to price oracles provided by DEXes such as Uniswap (Announcement, white paper).
SIZE’s unique architecture allows for protection against MEV and other front running attacks, as well as offer a unique zero price impact trading experience on chain. Because Integral SIZE adjusts its internal price state lazily (via an external price oracle) without the requirement of trading to convey price updates, the design mechanism eliminates the systemic role of arbitrageurs’ profit in typical AMMs, and its resulting impermanent loss on LPs. For more information on how SIZE can protect you from these attacks, check out our blog.
In a live trade, someone sold ~$424k worth of CVX to ETH on SIZE, saving about 48bps ($2,049). SIZE executes trades against its own liquidity pools, while relying on external pricing oracles. This design allows for the possibility to swap all of the liquidity out of a pool in one single 30-minute TWAP, if need be.
We propose that Wonderland use Integral SIZE as a specific venue to execute this liquidation of their treasury CVX. Wonderland and Integral will co-market the CVX<>ETH pool to highlight to interested parties as LP’s for the swap.
Provide Low Level Details
We are proud to announce that we have recently been selected by the Safe team as a Safe Guardian. Recently, we have also been in discussion and received positive reaction from the community regarding proposals with Sushi and BitDAO.
The specific benefits of executing this liquidation via SIZE are:
- Price impact saving. Integral SIZE currently offers execution of USDC <> ETH, CVX <> ETH, Sushi<>ETH, and stETH<>ETH (and more to come) at 30-min TWAP with zero price impact
Fee saving. Integral is currently charging a 1bp fee.
- 1 bp on Integral SIZE.
- 4 bps on Curve
- 30 bps on Sushiswap & Uniswap
Front Running & MEV resistance
- Trades are not susceptible to front running and sandwich attacks due to the time delay factor.