𝗗𝗲𝗺𝘆𝘀𝘁𝗶𝗳𝘆𝗶𝗻𝗴 𝗙𝗹𝘂𝗶𝗱: the most efficient DeFi protocol. We're excited to unpack Fluid's game-changing innovations: - Lending + DEX fusion - Liquidity↔Logic separation - Position & Liquidation aggregation into ticks ⇒ All unlocking 0.1% liq fees & 98% LTVs 1/

2/ Fluid's growth. Since its launch last year, Fluid took DeFi space by storm: ‣ Grew its Lend/Borrow protocol Vault to $1B TVL ‣ Enabled trading on top, doing up to 20% of Ethereum DEX volume ‣ Became #2 DEX on Ethereum All thx to design unlocks↓

3/ Fluid design break-throughs. A. Fluid liquidates: ‣ At higher LTVs, up to 98% ‣ With lower discounts, as low as 0.1% ‣ Just enough to make positions safe B. Fluid DEX liquidity comes from Vault's collateral & debt, collapsing opportunity cost. How is this possible?↓

5/ Liquidity Layer. On a high level Liquidity Layer is a regular lending protocol, but it serves Fluid's subprotocols instead of users. It has withdrawal and borrowing limits that help keep rates stable, especially during black swan events.

6/ Fluid Vault. Each Vault is a predefined pair of collateral and debt tokens. User can borrow X by supplying Y and keeping X/Y ratio healthy. Thanks to Liquidity Layer, collateral can be reused across other Vaults, while both collateral & debt can be supplied to Fluid DEX.

7/ Ticks. In Vault, positions are aggregated into ticks, according to debt/collateral ratio Just as UniV3 ticks revolutionized AMMs, Fluid ticks are reimagining lending—enabling 98% LTV with 0.1% liq fees, best parameters on the market How? Via unique liquidation mechanism:

11/ Here you can see an example animation of how initialization and liquidations of positions are happening in Vault subprotocol.

12/ Read the full deep dive here:

13/ Stay tuned for the second part of our Fluid series: deep-dive on Fluid' DEX. We will cover the design of "smart" collateral/debt, which allows Fluid to use its liquidity *simultaneously* for both borrowing & trading, with today's volume reaching $300M+/day.

14/ Special thanks go to @DeFi_Made_Here and to @MixBytes for their invaluable feedback.