A huge CONGRATS to the @yieldyak_ & @gondola_finance teams for cracking top 5 TVL on @avalancheavax:
- $YAK team has been a #defi leader & “foundational” $AVAX project from the start now ~$35m
- $GDL is the NKOB after just launching last week & already at ~$25m TVL
1/6

$GDL $25m TVL is all the more impressive given some early hiccups at launch. The team is delivering an airdrop to compensate those users negatively impacted by the staking bug (in conjunction with swapping incentives & early staker airdrops)

https://twitter.com/gondola_finance/status/1391754656817106949
2/6">https://twitter.com/gondola_f...

The $25m TVL in just a week just shows the enormous market need that the @gondola_finance team has identified for stableswaps & fragmented liquidity

https://twitter.com/gondola_finance/status/1391161270083092481
3/6">https://twitter.com/gondola_f...

Right now, there is significant slippage (5%) in the DAI-zDAI pool which would normally be arbed but isn’t due to the $ZERO bridge being down. Stakers are willing to stomach this slippage due to the +250% APYs. I would expect this discrepancy to close once the bridge returns
4/6

Another issue concerning some users is a potential rugpull due to the existence of a migrator with no timelock. The team is working hard to put in a timelock over the next couple of days – so hopefully this mitigates any nagging concerns from the community
5/6

I have been working hands-on with the entire $GDL team in delivering the best project possible & I have high confidence in team’s good intention & mission to deliver value-add to the $AVAX #defi ecosystem. They are working hard to build & fortify trust & I stand besides them!
6/6