Help execute treasury diversification of the Nouns DAO treasury, specifically wstETH => rETH
. We have built a tool that’s tailor-made to help execute these trades: TWAMM. The trade will be executed completely on-chain, transparently with very low fees and minimal gas costs.
TWAMM is a concept introduced by Paradigm in July 2021. "It works by breaking long-term orders into infinitely many infinitely small pieces and executing them against an embedded constant-product AMM smoothly over time."
An on-chain AMM protocol to enable large token swap is essential to increase DeFi adoption and anti-fragility. Some interesting use cases for TWAMMs include treasury diversification, whale liquidations, peg maintenance, etc.
We have been researching and developing TWAMMs since November 2021 and recently launched our protocol: announcement. The code has been audited by SpearbitDAO, open-sourced, and verified on Etherscan. There’s more detail on the protocol on our docs page.
sell 14_000 wstETH for rETH in 100_000 blocks
~roughly 2 weeksThe first trade will be for a relatively small amount of roughly 400 wstETH -> rETH to ensure TWAMM executes the trade as expected. Below are a few potential risks of the system and how we have and plan to mitigate them:
delegate
to ensure the order is being filled at an optimal price. In case the trade escapes the optimal threshold, we will cancel the trade on behalf of the DAO and proceeds will be refunded to the Nouns DAO wallet.Here are the alternatives and how they stack up against TWAMM. Note this isn’t a comprehensive list, but a short summary.
Help execute treasury diversification of the Nouns DAO treasury, specifically wstETH => rETH
. We have built a tool that’s tailor-made to help execute these trades: TWAMM. The trade will be executed completely on-chain, transparently with very low fees and minimal gas costs.
TWAMM is a concept introduced by Paradigm in July 2021. "It works by breaking long-term orders into infinitely many infinitely small pieces and executing them against an embedded constant-product AMM smoothly over time."
An on-chain AMM protocol to enable large token swap is essential to increase DeFi adoption and anti-fragility. Some interesting use cases for TWAMMs include treasury diversification, whale liquidations, peg maintenance, etc.
We have been researching and developing TWAMMs since November 2021 and recently launched our protocol: announcement. The code has been audited by SpearbitDAO, open-sourced, and verified on Etherscan. There’s more detail on the protocol on our docs page.
sell 14_000 wstETH for rETH in 100_000 blocks
~roughly 2 weeksThe first trade will be for a relatively small amount of roughly 400 wstETH -> rETH to ensure TWAMM executes the trade as expected. Below are a few potential risks of the system and how we have and plan to mitigate them:
delegate
to ensure the order is being filled at an optimal price. In case the trade escapes the optimal threshold, we will cancel the trade on behalf of the DAO and proceeds will be refunded to the Nouns DAO wallet.Here are the alternatives and how they stack up against TWAMM. Note this isn’t a comprehensive list, but a short summary.