In Archway’s Twitter Spaces which took place on August 13, 2024, Kunal from Filament hosted Max from Archway to discuss the evolution of the Archway protocol, the Archie’s NFT project, Filament Guild Wars, and more! Read our notes below to learn more.
Background
Kunal (Host) – Core Contributor at Filament
Max.arch (Guest) – Core Contributor at Archway
Filament – a hybrid perpetuals DEX optimized for DeFi ecosystems, deployed on the Sei network
Archway – an incentivized smart contract platform that rewards developers for building on the network with baked-in incentives and rewards
Intersection of NFTs and DeFi: Archway Protocol, Archie’s Project, and Filament Guild Wars
- Max shares updates on his work with the Archway protocol and Archie’s NFT project. He mentions focusing on expanding the protocol’s tech stack and adding utility for NFT holders.
- Kunal asks Max about his thoughts on the current state of the NFT space. Max describes the market as cyclical, with periods of hype followed by quieter times. He highlights the importance of community engagement in sustaining NFT projects during lulls.
- Max highlights Archie’s project as an example of a strong community. He attributes its success to the core team’s continuous engagement and the shared experience of a controversial mint process, which galvanized the community.
- Kunal introduces Filament Guild Wars, an initiative to involve NFT communities in their protocol. He explains that communities can drive the protocol’s growth, influence tradable assets, and potentially share in future revenue. Kunal mentions that Archie’s has been a very active participant, currently ranking second on the leaderboard.
- Max expresses gratitude for Archie’s inclusion in the Filament testnet. He notes the value it provides to holders, even if it’s just the exclusivity of participating in a testnet that could lead to future benefits like airdrops.
- Max praises Filament’s approach of engaging multiple communities. He observes that NFT holders are often more willing to participate in projects outside their core ecosystem compared to users of specific DeFi protocols, who tend to stick to one ecosystem.
- Max notes how Guild Wars allows projects to showcase the strength of their communities. He mentions the rapid filling of Archie’s allocated slots and their active participation in trading on the platform.
- Both Kunal and Max talk about the mutual benefits of this collaboration: NFT holders gain exclusive opportunities and potential rewards, while Filament onboards new users and increases visibility for their project.
Filament Guild Wars and Perpetual Trading: Onboarding Active Crypto Communities and Testnet Insights
- Kunal explains the concept behind Filament Guild Wars, which aims to onboard top users from various crypto ecosystems by engaging with NFT communities. He mentions several participating communities, including Archies, Mad Lads, and Bad Kids, noting that these groups often represent the most active users in their respective ecosystems.
- Max agrees with Kunal’s strategy, emphasizing that targeting users who remain active during market lulls identifies strong, committed community members. He expresses excitement about the structure of the Guild Wars and its potential.
- Kunal asks Max about his experience with the testnet and his background in trading perpetuals. Max shares that he has traded perps in the past but has recently reduced his involvement due to the market’s volatility. He provides feedback on the testnet, noting that while there are bugs, this is expected and helpful for identifying issues before the mainnet launch.
- Kunal mentions that they’ve added a profit and loss score to the leaderboard, in addition to the existing volume-based scoring. He then explains Filament’s novel approach to trading perpetuals, describing it as a hybrid model combining a liquidity pool with an order book. This design aims to ensure liquidity for both established and newer assets.
- Max asks about the ability to deposit into liquidity pools on the testnet. Kunal confirms that users can deposit and bond assets on the pool page after minting from the faucet. Max recalls encountering an issue with withdrawing liquidity, which was quickly resolved.
- Max notes that the testnet is currently under maintenance and asks about its expected downtime. Kunal highlights that such issues are part of the testing process, encouraging users to try to “break” the system to identify potential problems.
Testnet Performance, Guild Wars Enhancements, and the Upcoming Filament Trading League
- Kunal informs Max that the testnet should be back up by the next day. He shares that they’ve been benchmarking internally and are now processing around 60 orders per second, expressing satisfaction with the testnet’s performance.
- Max asks about future plans for the Guild Wars. Kunal explains they’ve added a profit and loss (P&L) scoring system in addition to the volume metric. He also introduces “the purge,” where 2-3 less active guilds will be removed weekly, maintaining only the top 20 guilds in the competition.
- Max inquires about the possibility of opening more spots for Archie holders. Kunal proposes a challenge: if Archies can overtake Slots to reach the top position within a week of the testnet going live, he’ll open up 50 more slots.
- They discuss the current standings, with Kunal estimating about a 500K difference between the two guilds. Max agrees to rally the Archie community for this challenge.
- Kunal introduces the upcoming Filament Trading League, separate from Guild Wars but open to all testnet participants. This league will offer daily rewards for achievements like the largest liquidation and highest P&L.
- Max asks about the structure of the Trading League, and Kunal confirms it will be based on individual performance, aiming to identify and incentivize top traders in the community.
- Max mentions using various platforms like Levana in the Cosmos space, Zeta markets, and Drift protocol on Solana. Max expresses a preference for dapps over centralized exchanges.
- Kunal explains Filament’s unique liquidity pool model, describing it as a compartment-based system using a single stablecoin pool with allocations for different assets. This approach allows for quick addition of new assets and efficient liquidity management.
- Max expresses enthusiasm for this model, noting its potential to address liquidity issues for smaller assets and prevent false liquidation events due to insufficient depth in the order book.
Check out these important links
- Listen to the Original Audio
- Follow max.arch on Twitter
- Follow Kunal on Twitter
- Follow Archway on Twitter
- Follow Filament on Twitter
Show Information
- Medium: Twitter (Audio)
- Show: Filament Twitter Space
- Show Title: Guild Wars ft. Archies
- Show Date: August 13, 2024