THENA’s Transformative V3,3 Upgrade on the Horizon
THENA, a pivotal hub for trading and business development on the BNB Chain, is gearing up for its anticipated V3,3 upgrade, which is scheduled to launch on May 22. This milestone was announced in reports shared with Finbold on Wednesday, May 21.
Revolutionizing Liquidity and Governance in DeFi
The V3,3 upgrade is positioned to reshape the landscape of liquidity management and governance within the decentralized finance (DeFi) sector. THENA aspires to create a self-optimizing, modular ecosystem that enhances user experience and efficiency.
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Transition Preparation and Community Engagement
In preparation for this significant transition, THENA has crafted a comprehensive guide and launched an Open Beta version of its revamped user interface. This initiative aims to seamlessly acclimate users to the new system.
Voting and Emission Migration Schedule
The voting process for the V3,3 gauges is set to commence on May 21. By May 29, all emissions will have fully transitioned to the new framework, marking the cessation of rewards for legacy pools.
Innovative Features of THENA V3,3 Plugins
Central to the V3,3 upgrade are the innovative Plugins, which are modular smart contract components enabling liquidity pools to dynamically adjust their operations. These Plugins, akin to Uniswap v4’s Hooks, are meticulously tailored for the BNB Chain ecosystem.
The initial Plugin offerings with V3,3 include features such as volatility-based fees, a sliding fee scale, and the forthcoming Brevis ZK Plugin, which leverages zero-knowledge proofs for identity-based fee discounts. Developed in collaboration with Algebra Integral, this architecture eliminates the necessity for redeploying pools, allowing liquidity strategies to evolve in real-time—a groundbreaking advancement for automated market makers (AMMs).
THENA’s Comprehensive Unified Gauge System
The V3,3 upgrade also brings forth a Unified Gauge System, empowering manual concentrated liquidity providers (CL LPs) to supply liquidity within targeted price ranges. In exchange, they receive non-fungible tokens (NFTs) representing their liquidity positions, which can be staked to earn THE emissions.
All emissions are funneled through a singular gauge per pool, with veTHE holders governing the process through their votes.
Redefining Governance with Multi-Epoch Bribe Campaigns
The governance structure in V3,3 undergoes a transformation with the introduction of a novel cross-chain voting mechanism, enabling veTHE holders to engage in governance across multiple chains without the need to bridge assets. Votes from holders now persist across multiple epochs, facilitating extended bribe campaigns.
Additionally, the integration of a new Chainlink Automation system allows for the automation of vote casting, reward collection, and lock extensions.
Lowering Barriers with the Kyber-Powered Zapper
THENA is set to introduce the Kyber-powered Zapper, a tool designed to simplify liquidity provisioning. This feature allows users to enter any pool, including concentrated liquidity pools, using a single asset. For advanced users, the Zapper provides the flexibility to define custom price ranges, enabling more strategic and active liquidity management.
