Match - The Next Convex built on Lybra
$400K+ initial MC, upcoming IDO (DM for WL)
Lybra has a massive $330M TVL
Earn over 200% $ETH APR + Airdrops
My thesis for an easy 10x for this IDO with 400K+ initial MC 🧵👇
(Read on for WL allo👀)
If you enjoyed the read, please RESTACK, LIKE and COMMENT on what you like to hear next. It will be super helpful!
🔷 IDO 🔷
Lybra supports this IDO which take place over 3 days in 2 phrases:
1st Phase for WL, 2nd Phase for public
Max Cap: 375 ETH
Vesting: 30% tge, linear vesting in one year
Initial MC: 462K
For those whitelist seekers, please drop me a DM (priority for newletter subscribers!)
Disclaimer: This is not financial advice!
🔷 Market Potential 🔷
Market size of liquid staking has surpassed $30B.
We have also seen that this contributed to the growth of the top 10 LSD protocols on ETH, AVAX and SOL.
And in the past month, it was at least double-digit growth for them.
Along with the surge in TVL for LSDs and the LRT narrative driven by Eigenlayer,
@MatchFinance have benefitted from this and grew in TVL by 7x in 2months.
They now have $8.8M in TVL.
🔷 Why Match 🔷
@MatchFinance is a yield aggregator for @LybraFinance with the following features:
Match dLP and eUSD to share the esLBR emission.
Automatic adjustment system to lower the liquidation risk.
mesLBR/esLBR pool for instant rewards.
Bribe market in Lybra.
Match will be akin to @Equilibriafi
Lybra is akin to @pendle_fi
Match is the first mover and they will be capturing most of Lybra’s value
Whereas for @Equilibriafi they compete with @Penpiexyz_io for a smaller Pendle TVL.
Let’s do a side-by-side comparison on why I like Lybra and Match better
TVL: $LBR more than $PENDLE
Market Cap: $LBR cheaper than $PENDLE
FDV: $LBR lower than $PENDLE
Fees: $LBR more than $PENDLE
$PENDLE’s pie is being split up with many hoarders for thier governance token
$LBR’s pie is being split up with Match only (so far)
@LybraFinance growth has been wild. ever since they have transitioned into their v2, which enables users to farm rewards (esLBR + bribes) based on the collateral they provided to mint $eUSD
Provided that 2.5% of the value of this collateral goes into the liquidity in the $ETH-$LBR pool.
In Q4 of 2023, they have since 2x their TVL to $330M till date.
They have also seen a steady increase in daily fees and revenue for the protocol.
🔷 Differentiating Factor 🔷
Lybra is a LSD stablecoin protocol allowing users to mint eUSD, an interest-bearing stablecoin with ETH and LSTs as collateral and peUSD.
Beyond the bullish metrics, Match aims to solve serious pain points around Lybra.
Lower entry barriers to earn $LBR: higher returns, lower risks, and a more flexible liquidity mining method. Users only need to provide dLP or eUSD in Match Finance to receive esLBR emissions.
Match further simplifies the minting, redemption, and risk management process for users. Simply deposit your dLP or LSD and Match will handle all of the operations for you, saving you lots of gas fees. Match also helps rebalances your dLP & LSD positions to ensure you receive higher APR on Lybra
Pioneering Governance Aggregator for Lybra: Match is the first to offer this service for Lybra, similar to Convex for Curve or Equilibria for Pendle. It's backed by official support from Lybra, evidenced by $esLBR grants.
Bribe, Boosters: Match is set to launch the first bribe marketplace for Lybra pools. This feature allows users to gain enhanced rewards and emissions, without the need for locking up their dLP.
Attractive Valuation: Match stands out with an approximately $460k Market Cap and around $5m Fully Diluted Valuation. Its introduction includes a Whitelist Round and a FCFS Round for the public.
Endorsed by the Lybra Team: Match has garnered official support and recognition from the Lybra team, including multiple shoutouts on Twitter. As part of the Lybra Grant Process, the Match team, who have received over 25k esLBR in grants, is fully verified by the Lybra team.
Incentivized Airdrop: Match has airdrops for depositors on a point based system.
https://twitter.com/Beosin_com/status/1707616379216842986
🔷 Conclusion 🔷
With liquid staking demand soaring, Match Finance offers an opportunity to capitalize on a fast-growing Lybra yield aggregator. Their $460K market cap and revenue potential from Lybra's $330M TVL provide attractive upside for those seeking an undervalued gem.
Combined with Lybra's meteoric growth, enthusiastic team backing, and sector tailwinds, Match Finance has a recipe for explosive yields.
Get on their whitelist now before the IDO sells out! This could make you fortunes in 2023 DeFi.
Twitter: https://twitter.com/arndxt_xo/status/1737067835581661535