Thursday Late-Night Update: Avalanche, Polkadot and Uni v3

Hi everyone. Sorry for the last-minute rush. As you’ve probably noticed, it’s been kind of a hectic week in crypto. That’s made it hard to get information out of our contacts in a timely fashion.

I was also hoping that @SCBuergel would be able to share the HOPR Association’s position on optimal Uni v3 settings price ranges, but there hasn’t been time.

For that reason, I’ve made a couple of decisions about proposals which include the Avalanche chain, Polkadot, or Uniswap v3.

More details below, but in brief: Avalanche and Polkadot proposals still have another step before they can be valid.

All currently valid Uniswap v3 posts are still valid, so you don’t need to do anything. But you might want to contact me to prevent an executive decision being taken by the HOPR Association with regards the price range.

Avalanche and Polkadot Proposals

We’ve been unable to determine whether Avalanche and Polkadot have full support for everything we’d need for the DAO. Our feeling is that they probably do, but we need more time to be 100% confident.

Rather than rule these proposals as invalid, I would like everyone proposing to move to liquidity to DEXs on Avalanche or Polkadot who would still like to submit those proposals to declare a contingency plan for that part of the liquidity — i.e., what you would like to do with that liquidity if the HOPR Association deems it to be unsafe or impossible for the DAO to move the liquidity there.

You could decide to keep it on Uni, or move it to another one of your proposed exchanges, or something else.

Uniswap v3 Proposals

Almost everyone who has proposed using Uniswap v3 has opted for the default settings of 0.3% fee tier and as wide a price range as possible. My assumption is that this is because this is assumed to be a neutral option, rather than due to any strong opinions or understanding about how Uniswap v3 works.

Uniswap v3 is very new, but I believe the opinion of the HOPR Association is that it’s actually not that safe or optimal to use an extremely wide price range. (It’s not actually possible to specify an unlimited price range - sorry for implying that it was.)

We’re still looking into what would be optimal, and we would only every implement an extremely conservative spread here, but I think we know enough to believe that an arbitrarily wide spread is a bad idea. UPDATE: A discussion of this can be found starting here on our Telegram channel: Telegram: Contact @hoprnet

Given that, I would propose the following: We’ll assume that everyone who has made a Uni v3 proposal which specifies 0.3% fee tier and unlimited price change would be happy for the HOPR Association to implement it’s preferred price spread, after first consulting with the community. If you do not agree to this, and you’re the author of one of the proposals, please contact me here on the forum. You’ll need to specify either a full price range that you’d like to implement or just a lower limit, and we’ll set the upper limit based on that by assuming a 50/50 HOPR/ETH or HOPR/DAI weighting, which is the current Uni v2 arrangement.

Sorry for the short notice, and for slightly overstepping the intended influence of the HOPR Association, but I hope everyone agrees this is the best way to keep as many proposals available in the short timeframe available.

We’ll be pushing the DAO discussion on all our channels in the morning to ensure that as many proposals as possible can reach the threshold for the next stage, which begins at 2pm CET.