Equo: Create LSTs on Sei EVM with Ease
{"title": "Equo: Create LSTs on Sei EVM with Ease", "logoImg": "bafkreifes7vi4qbbvemvy2difjidb6vfxyfsive4u4peaamstgrgbcsi6q", "website": "https://github.com/equo-finance", "bannerImg": "bafkreieri5cdmfzpp4sbni5fal3nelx3htr4t7jyjdxpineqwxfvrsaqsu", "createdAt": 1727718017880, "userGithub": "equo-finance", "credentials": {"github": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..8NJEOvc-BPMWAatY_6M-G3NpG_RM1ZbLwaQA0zGnG2N2XAQjrHip8Of2vHzqCMVIUTJamVfOii8W5VMhonvsDA", "type": "Ed25519Signature2018", "created": "2024-09-30T17:40:02.746Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-09-30T17:40:02.746Z", "expirationDate": "2024-12-29T17:40:02.746Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x177115F23b047308F0fc68F42edcFf195FEc93e4", "hash": "v0.0.0:JT0RBecSZ6FuE5PYNHaAjobusxfEG78IfrfTqbEScxk=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextGithubOrg#equo-finance#29760727"}}}, "description": "## Want to create your own liquid staked tokens?\n\nOn Sei, there is only one liquid staking protocol, Silo Staking. According to DeFi Llama, there are 4, but Silo is the top, with 99% of the market captured.\n\n> Please go through the whole description to understand what I want to achieve with this project. This involves creating framework plus developer related content from things I have learn while creating this framework.\n\n## Why do you think that is the case?\n\nOn other chains like Solana, that is not the case. Why is that? Because there is a framework for protocols and users to create their own LST called stakepools.\n\n## What is Equo?\n\nEquo Finance is the project I have been working on for the last few months. The aim with Equo Finance is to provide a framework to teams building on Sei and users of Sei for creating their own LST.\n\nWith this framework, any one with very limited knowledge of smart contracts can deploy their own LST. With Equo, creating your own LST will be as easy as creating a liquidity pool on AMMs like Uniswap or Sushiswap. You won’t need to understand details of the complexity of contracts to have your own LST, but you can focus on creating marketing and management of the LST (don’t worry, there will be a bot with full documentation that you can self-host and that bot will manage your LST).\n\n## Improving DeFi Ecosystem in Sei\n\nStaking locks up your tokens; instead, you can put those in liquid staking protocol and earn more. Silo is a great liquid staking protocol, but what if you want to liquid stake with someone else? There isn’t a viable option; Equo will provide a simple way to create those viable alternatives, which will lead to more liquidity in the DeFi protocols on Sei.\n\nFurthermore, there is a limit to how many protocols can bring users, but if anyone can create LSTs, then VCs can create their own LSTs to support their portfolio projects, or someone with big reach and whom users trust can create their own LST, which offers better incentives than other alternatives.\n\nDo you know you can earn from creating your LSTs? This will be the management fee for the LST, which users will pay to you. More on that as the framework evolves, but there needs to be an incentive for LST creators too, right?\n\n## Why Apply for the Creator Fund Round?\n\nI have been working on this as a part-time project, but with the Creator Fund, I could work on this full-time. I hope my idea has been convincing enough that you will vote with your tokens.\n\n## What do I want to deliver?\n\nMy plan is to deliver the following things:\nA well-tested liquid staking contract that anyone can deploy with a single command.\nCreate a bot that manages the LST based on the given strategy.\nDocumentation that explains each and every aspect of this project for anyone who is using this project. Documentation will be for both contracts and bots.\n\nAdditionally, I also want to create a tutorial series that has multiple parts that walk through all the steps involved in creating this framework. I don’t know how big this series will be, but I promise you that this will be something interesting for all developers.\n\nWhy this series is important? Because this series will highlight interoperability features of Sei like staking precompile (there is something interesting, if you keep reading) and involve showing them how to set a local Sei node to test framework on their local machine.\n\nDo you know the Sei team has added features that I have requested in staking precompile? As I said previously, I have been working on this for a while, and in that period, I tried to get some of the features, like querying delegation amount, etc. added the staking precompile. Those features are deployed on the network. These changes were required for any liquid staking protocol to be built on Sei EVM. I am not saying this to win you over (to be honest, I am), but I just wanted to show you that I have been trying to get this off the ground for a few months, but with your help, I can get this off the ground.\n\n## Who am I?\n\nMy name is Nikhil. I have been a developer and technical writer in crypto industry for few years now. I worked as a product manager for crypto products, but that aside, I mostly worked on the tech side of crypto.\n\nAnd if you want to contact me, please email me at: equo-finance@proton.me \n", "logoImgData": {}, "bannerImgData": {}, "projectGithub": "equo-finance"}