Timewave Quarterly Report #3: May 14, 2024 — August 13, 2024

Dear Neutron Community,

It has been an exciting quarter at Timewave as we began rolling out the products that we spent the first six months of our partnership building.

1. Covenants

We have deployed 4 Covenants, all of which directly involve Neutron.

The first Covenant was a migration of NLS-NTRN-LP tokens from a multisig onto the Covenant. These LP tokens were originally generated via Neutron Proposal A-22 whereby Nolus contributed $100K worth of $NLS and Neutron contributed $100K worth of $NTRN to create $200K worth of liquidity for the NLS-NTRN pair on Astroport. The interim multisig was necessary since the deal had already been completed before the Covenants were ready.

The second Covenant was to handle liquidity sharing between Neutron and Stargaze without ever needing an intermediary multisig. According to Neutron Proposal A-38, Stargaze contributed $200K worth of $STARS and Neutron contributed $200K worth of $NTRN to create $400K worth of liquidity for the STARS-NTRN pair on Astroport.

The third Covenant was to handle liquidity sharing between Neutron and Shade without ever needing an intermediary mutlisig. According to Neutron Proposal A-39, Shade contributed $100K worth of $SHD and Neutron contributed $100K worth of $NTRN to create $200K worth of liquidity for the SHD-NTRN pair on Astroport.

The fourth Covenant was a migration of MARS-NTRN-LP tokens from a multisig onto the Covenant. These LP tokens were originally generated via Neutron Proposal A-43 whereby Mars contributed $100K worth of $MARS and Neutron contributed $100K worth of NTRN to create $200K worth of liquidity for the MARS-NTRN pair on Astroport. The interim multisig was necessary because there were some nuances to the liquidity deployment that Covenants did not yet support.

We are improving Covenants to work with more chains and more DeFi protocols. We’re excited to share more about these new features next quarter.

2. Rebalancer

The Rebalancer has been managing Timewave’s assets since April 8th. We welcomed NEWT DAO as the first external user of the Rebalancer on August 4th. The Rebalancer is available right now for any DAO seeking to manage its treasury of $USDC, $NTRN, $ATOM, or $NEWT. We are adding support for additional tokens as demand arises—get in touch if you’d like to rebalance an asset that isn’t mentioned above.

3. Valence

We launched the Valence website in June. There, you can find beta versions of the user interfaces for Covenants and Rebalancer, as well as the Valence blog. We are currently prioritizing the Rebalancer interface to enable any user to onboard onto the Rebalancer permissionlessly.

We are also nearly done with the technical specification for the Valence protocol. Once complete, we will begin implementation.

Wrapping Up

If you are involved with a protocol, blockchain, dApp, or DAO that is interested in doing business with another crypto-native organization, we’d love to hear from you.

Cheers,

Timewave

@timewavelabs