Friday, August 11, 2023

Thor swap for CØSMOS? a pensée

Yesterday, I had an interesting problem on @TeamKujira blockchain.

88 $ATOM came my way.

Wat do?

Arb $ATOM. The thing is, arb'n $ATOM is fine, but $stATOM also has its uses.

How to get $stATOM?

Three ways:

  1. trade on FIN.
  2. mint on @stride_zone 
  3. swap on @osmosiszone 

So, I decided to arb half-...ish my 88 $ATOM on the barometer @TeamKujira FIN board: KUJI/ATOM

barometer HOWTO.


The other half, I'll swap to $stATOM, but how? Which of the three ways is best?

My answer: I check each of the three ways, every time.

It turns out, the @osmosiszone swap was best this time, but one does not simply swap $ATOM on @TeamKujira on @osmosiszone.

One must do the following:

  1. Bridge $ATOM to @cosmos


  1. Bridge $ATOM to @osmosiszone


  1. swap to $stATOM


  1. Bridge to @stride_zone 


  1. Bridge back.


The Terra station sees all @cosmos assets on all zones and labels them as such, so does KEPLR v 2.0.

I'm just wondering: is there a need for a protocol, kinda like @THORChain for CØSMOS, that lets you swap assets on any zone with anything?

That'd be sweet, fam.

That'd be sweet.

P.S.: Burn arbitrage

P.S.: now, all this was said, assuming a lot. Why am I arb'n $ATOM (and $stATOM) when I could slow-burn it on @stride_zone?

The answer is easy, once ./burn tells me there's no viable burn-scenario.




And, after this, that's why I did all the above

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