Overview

How Liquis works and who it is for

Target Users

Liquis provides value for three types of users in the current Uniswap - Bunni ecosystem.

1. Asset-Issuing Protocols

Uniswap v3 offers concentrated liquidity to asset-issuing protocols without the need for any form of governance participation. While providing concentrated liquidity for a volatile asset pairing is undeniably tricky, this is a meaningful value proposition for pegged assets in particular. Access to Uniswap v3 liquidity ensures that newcomer stablecoin and liquid staking token issuers have a chance at attracting liquidity at competitive rates, which is not necessarily the case for AMM-based alternatives that enforce specific limits on their stableswap parameters.

With Liquis, these issuers will have a platform for optimizing pool liquidity by influencing the direction of oLIT emissions.

2. Uniswap v3 Liquidity Providers

Bunni Pro has provided Uniswap v3 liquidity providers with a familiar user experience with its tokenized ranges. However, liquidity providers without max-locked veLIT positions do not benefit from all the subsidies they could receive. And for the subsidies they do receive, they have to go through the process of redeeming reward tokens (e.g. oLIT) for the underlying.

Depositing via Liquis passes on the boosted yields offered by Bunni Pro for a given range and abstracts away the oLIT redemption process. Liquis charges no fees for depositing or withdrawing Bunni tokens into the protocol and even layers on further subsidies via LIQ emissions.

3. Bunni Governors

Bunni Pro requires users to lock their BAL-80LIT-20ETH pool tokens for four years in order to receive the maximum boost(s) available for their position(s). Without a liquid wrapper solution, prospective lockers can be put off by the opportunity cost of committing for such a duration.

With Liquis, these users can maintain their exposure to the Bunni Pro governance pool token via liqLIT. This free-floating ERC-20 token will have a degree of secondary liquidity available despite its backing being locked for four years. In addition, these users will also receive the lion's share of protocol fee revenue which is derived from oLIT emissions.

Existing veLIT lockers will have to wait for their unlocks before depositing into Liquis.