The Shorter Finance team has taken the wraps off its protocol at one of their tour stops, Bogotá, Colombia, where they are hosting Ethereum Devcon VI.
Shorter crews meet like-minded Ethereum core developers and picture the imaginary decentralized systems with them together.
Shorter Finance, a notable DeFi protocol from IPI Labs, was recently presented at the 6th Ethereum Developer Conference.
At this first event in three years since 2019, Shorter’s tech team was on hand to give a speech on their vision of how 100% on-chain decentralized finance products are forged, sparking vigorous discussion among builders.
In the main stage session, Clark Lewis, Shorter’s Chief Technology Officer, shared his thorough understanding of DeFi and its role in the crypto world for the next three years.
“We identified the wants of truly transparent DeFis from anxious traders,” he told the reporters from Forbes, “DeFi security requires no workarounds. The Shorter team eliminated these matters a year ago”.
After a thoughtful breakdown of existing projects, Clark presented how a 100% on-chain protocol works, such as Shorter. It takes a lot of groundbreaking trading mechanisms to reset the decentralized protocol design bars.
Clark proposed the following three targeted solutions that have already been adopted by Shorter are all effective in putting the DeFi product in full service to investors.
Advocate single-sided farming to replace LP farming
Almost all existing DeFi products only pay interest to users who stake token pairs. This pattern, known as LP farming, has many drawbacks, like:
- It is subject to systemic threats that leave users vulnerable to impermanent losses.
- It only allows very few altcoins to be staked after being paired with stablecoins, which means users have to risk their capital with higher exposures and less flexibility.
However, Single-sided farming, powered by Shorter, enables users to stake only one type of token at a time into the protocol and…
