Degen Weekly: The Cosmos-Style Rollup L2 Factory, Uni V3 Perpetual Options, and Auto-Payment Protocols
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Degen Weekly: The Cosmos-Style Rollup L2 Factory, Uni V3 Perpetual Options, and Auto-Payment Protocols
Degen Weekly is a new series we’ve launched to quickly introduce some emerging projects each week. Some of these projects may only have one or two hundred Twitter followers, meaning they’re extremely early-stage—high-risk with uncertain returns. The vast majority haven’t even issued tokens yet. This series is purely for enthusiasts’ analysis and research purposes and should not be taken as any form of investment advice.
Navigating Web3 tides with focused insightsWritten by: TechFlow intern
Degen Weekly is a new series we’ve launched to quickly introduce you each week to some emerging projects. Some of these projects may only have a few hundred Twitter followers—very early stage, high risk, uncertain returns—and most haven’t even issued tokens yet. This is purely for enthusiasts to analyze and research. Not financial or investment advice.
dYmension
dYmension is to Rollups what Cosmos is to blockchains. Much like Cosmos, dYmension will provide all the necessary tools and infrastructure to easily build, launch, and operate rollup-based Layer 2s. Using dYmension’s Rollup Development Kit (RDK) and dedicated settlement layer, developers can focus on their business logic while effortlessly deploying application-specific rollups—benefiting from Inter-Rollup Communication (IRC), shared security, and data availability. Currently, dYmension has partnered with Scrt and is deployed on it.
Dystopia
Dystopia is a novel decentralized exchange built on Uniswap v2 and Curve Stable Swaps. With improvements over Solidly’s ve(3,3) mechanism, Dystopia aims to become the most efficient protocol for swapping stablecoins and closely correlated assets. Like Curve, Dystopia enables low-slippage trading, but features an enhanced governance structure. The two main stakeholders in a DEX are liquidity providers and native governance token holders. Both must be incentivized: LPs to ensure deep liquidity for low slippage, and token holders to generate value for the governance token.
Dystopia will issue a native governance token, DYST, which can be staked on the protocol. Users who stake DYST to obtain veDYST (vote-escrowed DYST) will earn a share of protocol trading fees. Meanwhile, liquidity providers will receive incentives in the form of DYST rewards. veDYST holders can vote for specific whitelisted vaults, which then receive DYST emissions proportional to the votes they receive.
This creates a positive feedback loop: vaults with higher trading volume attract more veDYST votes, leading to increased DYST incentives, drawing in more liquidity and TVL. Liquidity providers aim for maximum yield, further enhancing capital efficiency and interest rates.
Swim Protocol
Swim Protocol is a cross-chain protocol enabling users to swap various cryptocurrencies across multiple blockchains by creating liquidity pools of two or more tokens. Swim aims to remove barriers in cross-chain transactions and empower a thriving multi-chain ecosystem. Most cross-chain bridges create proprietary wrapped versions of tokens on destination chains, which are non-interchangeable. Swim eliminates this need, allowing direct swaps between native assets on different chains. Traders using Swim’s platform pay a fee that compensates AMM liquidity providers.
Swim Protocol also boasts several notable partners: FTX, Solana Ventures, Jump Capital, Coinbase, Pantera Capital, ROK Capital, GBV Official, Alameda Research, IOSG VC
, PANONY Group, Bonfida, and more.
Terranova Finance
Terranova Finance is an EVM on Terra. In a multi-chain future, EVM-compatible L1s will capture growing transaction volumes and alleviate Ethereum network congestion. Terra is poised to become a major contender for EVM compatibility within the Cosmos ecosystem. Ethereum dApps will seamlessly interoperate with Terra dApps via native “cross-chain messaging” between Terranova and Terra—such as earning yield through Anchor or synthetics via Mirror. Additionally, Ethereum dApps will unlock new use cases for UST.
Panoptic
Panoptic is a perpetual options protocol that builds smart contracts interacting with Uniswap v3 pool contracts, addressing key bottlenecks in on-chain options trading: liquidity, speed, and cost. For any existing Uniswap v3 trading pair, Panoptic allows users to create long or short positions in call and put options. Beyond buyers and sellers, Panoptic introduces a new core participant: liquidity providers. While option traders must rebalance liquidity within Uniswap pools to mint new options, they can greatly improve capital efficiency by borrowing liquidity from Panoptic’s liquidity providers at a small fee—making it a capital-efficient solution that better mirrors the risk-reward profile of traditional finance options traders.
Ccnswap
CCNSwap is an open-source protocol for providing liquidity and trading CRC20 tokens on Computecoin. It removes trusted intermediaries and unnecessary rent-extraction, enabling secure, accessible, and efficient exchange activities. The protocol is immutable and designed to be censorship-resistant. Based on automated market-making via liquidity pools, CCNSwap offers users token swapping, liquidity provision, and trading mining services within the CCN ecosystem.
Loopcrypto.xyz
Loop is an on-chain payment protocol—the first smart contract solution enabling automatic recurring crypto payments without locking funds—it's auto-pay for Web3. One of Web3’s greatest strengths is full asset control, i.e., self-custody. Every transaction requires your signature and approval, ensuring you remain in control. No one can access your funds unless you grant permission. Yet this killer feature comes with a drawback: the repetitive confirmation process for every transaction. Loop was created to solve this. Unlocking this core infrastructure paves the way for Web2 companies to enter Web3, simplifying crypto payments and lowering barriers to mass adoption.
The seed round has already closed, raising $4 million led by a16z, with participation from A.Capital, Alchemy Ventures, CoinList, Lauren Stephanian, Paul Veradittakit, Imran Khan, Alex Svanevik, and dozens of other investors.
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