Tokenomics Update - July '23

[Rei]

Tokenomics update 14/07

• Education materials progressing well - community team writing copy supported by some simple graphs (example below), created from manually sequencing events from the simulation. Expecting to launch the education phase next week ahead of parameter discussions.
  

  

• We’ve settled on equalising the liquidities in the above and below pools from the start - this removes any uncertainty around being able to do this later, avoids re-working the code and lets us immediately operate in the long-term state, with the added benefit of gas savings in the implementation. No impact on likely outcomes, although there may be some need for setting some separate short-term and long-term parameter values to achieve the objectives.

• More code being written by engineering team. Implemented functions (pretty much all we need in the RAMM contract itself):

  • getReserves applies the liquidity injection/extraction and the ratchet
  • getSpotPriceA / getSpotPriceB return the spot prices for the above and below pools
  • swap / swapEthForNxm / swapNxmForEth perform the swaps themeselves
    Pictures of some ratchet spot price tests attached.
    
    

• Most exciting for me - started working with engineering to set up an environment using Ape to enable the Python simulations to call the actual solidity functions instead of the buy/sell, ratchet and liquidity functions I’d created separately before.

[Rei]

Tokenomics update 24/07

Short update about last week.

• Education materials finished - will launch this phase on the forum with more detail imminently
• Engineering have moved on to integrating the RAMM contract code with the rest of the system.
• Figuring out the Ape/Foundry environment for simulations - we’ve got the ability to push swaps through the solidity contract implementations and pass time, currently working on tracking metrics and producing graphs. Hoping to use outputs from this version to feed the parameter conversation.

[Rei]

Tokeonmics Update 31/07

Last week:

• Launched education phase for upcoming parameter discussion - find the forum thread here. The thread contains the long-form explanation, which includes the parameters, how they interact and why they’re important. We’re also working on some shorter, simpler visual materials focusing on explaining the mechanics.

• Engineering - integration implementation progressing well, no major roadblocks. Started scheduling conversations with smart contract auditors.

• Progressing several conversations on having an independent economic review of the mechanism for vulnerabilities.

• Began producing first results from simulations on the prototype contracts. Example for testing slippage for a single trade: