What is Conic Finance? Conic Finance is the liquidity platform for Curve Finance. Conic’s liquidity providers will have liquidity allocated to many Pool groups on Curve to help them optimize their profits. So what’s special about this project? Let’s find out with Weakhand in this article.
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Overview of Conic Finance
What is Conic Finance?
Conic Finance is a protocol operating on Ethereum that gives Conic liquidity providers (LPs) exposure to multiple Pools in Curve Finance through a single LP token.
To do this, Conic Finance uses Omnipools. Ominipools is a place to aggregate all the liquidity deposited by users, thereby distributing liquidity according to weight into Pools on Curve to earn profits. Each user who provides liquidity into Ominipools will receive Conic LP representing the user’s proportion in the pool.
Conic Finance also automatically provides Curve LP on the Convex Finance platform to help Conic LPs check both CRV and CVX. In addition, Conic LP also receives CNC Conic Finance DAO tokens, which CNC can stake to receive vlCNC – participating in protocol governance.
Every two weeks, the liquidity allocation weight of each Omnipool on Curve is updated via a DAO vote in which vlCNC holders can participate.
An overview of how Conic Finance works is as follows:
- Omnipools: Allows users to deposit an asset into Conic Omnipool deploying liquidity across multiple Pool Curves.
- Liquidity Distribution: Offers a solution to the current liquidity provision in the Curve ecosystem which is dominated by incentivized liquidity. This is done by setting up Conic governance that allows vlCNC owners to directly control which Curve pools receive liquidity.
- Administration: Create a protocol led and controlled by the Conic community through a self-maintaining DAO.
The Difference Of Conic Finance
Conic Finance helps users optimize profits as well as minimize difficulties when providing liquidity on the Curve Finance platform.
Conic Finance also takes remedial action when users deposit or withdraw large amounts of liquidity by calculating the current TVL amount. The impact of this is that any slippage that occurs during deposits or withdrawals is passed on to the user. This ensures assets in the pool are safe from any attacks or persistent cost slippage. To protect users from excessive slippage, they can specify slippage tolerance levels during deposits or withdrawals.
To encourage frequent deposits and withdrawals, CNC tokens are given to users who deposit into Omnipools while the pools are unbalanced and the rebalancing reward period is active. The CNC received will be based on the deposit amount and will also increase over time while the pool is unbalanced and will stop when the pool is “balanced” again.
Core Team
Update…
Investor
- July 30, 2023: Conic Finance successfully raised $1M from Curve Finance’s Founder to fix protocol problems after being hacked.
Tokenomics
Basic information about tokens
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Token Name: Conic Finance
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Ticker: CNC
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Blockchain: Ethereum
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Decimals: 18
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Contract: 0x9aE380F0272E2162340a5bB646c354271c0F5cFC
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Token Type: Utility
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Total Supply: 10,000,000 CNC.
Token Allocation
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vlCVX holders: 10%
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Community raise: 30%
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Liquidity providers: 44%
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Treasury: 6%
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AMM Stakers: 10%
Token Use Case
CNC tokens are used to participate in staking on the Conic Finance platform and receive vlCNC.
vlCNC is used to vote on liquidity on Omnipools and propose changes on the platform.
Exchanges
CNC token can be traded on DEX exchanges such as: Curve Finance, Uniswap(V3)
Information Channel of Conic Finance Project
- Website: https://conic.finance/
- Twitter: https://twitter.com/ConicFinance
- Medium: https://medium.com/@ConicFinance
- Discord: