BUIDL-Weekly: 29AUG22 - 04SEP22
Welcome to another weekly wrap-up, Spartans! Thanks to all the community contributors and friends who helped Buidl, promote and support during the week! Read on for the update
SPARTA Whitelisted on KyberSwap
As breifly touched on last week, the SPARTA token is now whitelisted on KyberSwap, big thanks to the contributors who reached out to get the ball rolling with this and to the Kyber team for the swift action making it happen.
The SpartanProtocol AMM pools are already integrated indirectly through KyberSwaps aggregator with ongoing discussions between contributors and the Kyber team to also work on a direct, conscious integration of the AMM.
When swapping tokens, DeFi users should ALWAYS at least check the comparison rate with swap aggregators like KyberSwap rather than blindly using a single-source swap DApp like PCS, UniSwap or our own community DApp. Dont trust, verify!
New Pool Listings
This week we saw two new pools listed permissionlessly by the Spartan community. First to deploy was the XRP:SPARTA pool. This pool reached its 7 day maturity and subsequently the initial liquidity provider removed their liquidity. There is nothing wrong with this as such, but before paying the gas to deploy a new pool, pool creators should ensure they are adding enough liquidity to make the pool a viable route to meet some of the demand for the underlying token. No stress though, the XRP pool is now there, established and ready for liquidity providers to come along and make it a viable swap route in the future!
The 2nd new pool listed by the community this week was the BAT:SPARTA (Brave 'Basic Attention Token' token) pool. This pool had its initial liquidity caps (100K) hit straight away and raised to 200K to allow in more liquidity, still now holding the initial ~100K liquidity after reaching its initialization phase. The TVL is still a little low to be a viable route for swaps, but in a good position to gradually build in the coming weeks/months.
Liquidity Caps Increased
As mentioned above, the new BAT pool had its liquidity caps raised from 100K to 200K when they were met almost instantly upon the pool being created. Another pool that reached its caps this week was the FOUR pool, which had its caps raised from 200K -> 400K
Don't forget to vote for SPARTA every day Spartans!