| 29 Jul 2021 |
|  aimee joined the room. | 17:20:42 |
 Tayken | +1 to CO DAO jam 🙌 | 17:37:47 |
| Tayken | Anyone know if there’s a more formal group in CO these days focused on blockchain + policy? | 17:39:24 |
| Tayken | Bit sad we don’t have a formal council or assn. anymore 😦 | 17:40:17 |
|  @aimee:matrix.org joined the room. | 18:21:47 |
 nukemandan | I have not been keeping tabs TBH. Maybe Paul Q would know more? Hey is on keybase still, last I spoke with him (not sure of his handle here) | 18:33:54 |
|  brson joined the room. | 21:54:23 |
|  NFT Zakk joined the room. | 23:32:42 |
| 30 Jul 2021 |
|  matrix-appservice-discord-t2bot joined the room. | 04:43:04 |
|  DocHabanero joined the room. | 16:11:56 |
|  ykel joined the room. | 20:59:22 |
| 31 Jul 2021 |
 Torgmeister11 | Hey folks, just want to give a quick update on a project I got involved in this month🙂 | 02:53:54 |
| Torgmeister11 | https://twitter.com/yapeswap/status/1421281387542290432?s=20 | 02:53:56 |
| Torgmeister11 | We're also making 1000 uniquely colorized NFT's of our Ape logo to celebrate the launch... only way to get one is to recieve it as a reward for being one of the first to trade on Yapeswap | 02:56:37 |
| Torgmeister11 | ^^^Hope I'm not shilling too much, just excited about our team's progress and wanted to share with you guys😃 | 02:57:35 |
| nukemandan | what makes yape special? | 17:24:48 |
| Torgmeister11 | We will be the first AMM that provides additional sources of yield for LP's besides just the fees generated from trades. Aside from that, our team is building for the long term. The plans for expanding V1 after the launch and for our V2 are very exciting. | 17:32:50 |
| nukemandan | What fuels the additional yield? | 18:33:18 |
| Torgmeister11 | With a typical AMM, liquidity is only utilized and earning rewards when trades are taking place. In most pools, 80-90% of the liquidity goes unused as only 10-20% is being used for swaps at a given time. In the era of capital efficiency, this is a problem for liquidity providers. Yapeswap is providing a solution to this problem by allocating the unused liquidity in our pools to Yearn Finance Vaults. Yape will automatically adjust the farming ratio, or the balance of liquidity held for trades and the amount that is stored in the yield earning vaults. | 18:34:50 |
| Torgmeister11 | Does that answer your question? | 18:35:07 |
| Torgmeister11 | Another way to put it is were allowing people to be in yearn vaults and provide liquidity simultaneously | 18:36:20 |
| nukemandan | so uni-v3 like, but you manage the far "from present price" pooled liquidity in vaults for users? | 18:37:28 |
| Torgmeister11 | Mmm, no one has put it like that before but that is an interesting way to look at it. I'd say yes, the pools are providing liquidity only for a tight range that the pair is actively trading in. | 18:41:00 |
| Torgmeister11 | 1. You provide 1M USDC + 1M DAI to the Yape pair.
2. The Yape pair deposits 0.9M USDC & 0.9M DAI to Yearn.
3. But the reserve0 = balance0 + farming0 and reserve1 = balance1 + farming1 i.e, virtual USDC reserve is 0.1M + 0.9M & virtual DAI reserve is also 0.1M + 0.9M.
4. If someone tries swap function, Yape pair uses the balance first, so the gas price almost equals UniV2. But if the balance is not enough (for example, when someone makes a big trade with 20 % of slippage), it withdraws the farming asset from Yearn & rebalance the farming ratio.
5. Anyone can run rebalance function permissionlessly.
6. When rebalance is called, it takes the net yield and send it to the fee manager.
7. Fee manager buys back Yape using the revenue & distribute them to the veYape holders.
For example, if DAI’s farming ratio is 95% it will be over-farming, so it’ll withdraw 5% from Yearn when rebalance is called.
In another case, the USDC farming ratio will be roughly around 85% and it will be under-farming, so it’ll deposit 5% to Yearn at the same time. | 18:43:28 |
| Torgmeister11 | There's sort of breakdown of the process taking place within the AMM. As the tweet said, our full documentation will be ready 8/10😃 | 18:44:20 |
| nukemandan | This in those docs somewhere? If not it should be 🤩 thanks for 'splainin it | 21:39:14 |
| nukemandan | * This in those docs somewhere? If not it should be 🤩 thanks for 'splainin it | 21:39:48 |
| 1 Aug 2021 |
| Torgmeister11 | Yes this will be! Official docs 8/10 like I said and hopefully have some FAQ's put together by end of weekend to help market this until the real docs and product arrive | 00:22:20 |
| Torgmeister11 | I take it by the 🤩 face you approve of our overall concept? 😃😃😃 | 00:23:04 |
| nukemandan | At first glance I just wonder about gas costs... Seems pricey with the process outlined... No? | 00:41:11 |
