Date Found
July 21, 2023
Comments
Boosting Layer for Bunni. Earn more as a $cdxLIT holder and LP with max boost.
Socials
Network
Ethereum
Category
DeFi
Codex, the boosting layer for Bunni. - by Thade
Saw this one shared in Fungi Alpha fairly early (only 29 followers on Twitter). What we know so far is that Codex will be built on top of Bunni. Bunni is a liquidity engine for Uniswap LP’s. You can stake your Uniswap LPs on Bunni and get rewarded with trading fees and oLIT tokens.
oLIT is a call option for $LIT tokens that allows you to purchase $LIT at a 50% discount.
Codex aims to be what Convex is to Curve, but for Bunni. Users become cdxLIT holders to maximize their $LIT gains, while liquidity providers access rewards boosting in a seamless manner. Codex enables LP-ers to gain full access to boosted $LIT rewards, regardless of their veLIT commitment. As cdxLIT holders earn extra rewards, there is more incentive than ever to pull $LIT tokens from the market and lock them.
There isn’t much info on the protocol yet, other than their thread with a very basic overview of their protocol, and that it is incubated by Root. Give them a follow on Twitter and keep an eye out for their website + docs.