After a quiet December for the crypto markets, volumes and prices picked up in January, and so did Unipilot TVL
As you can see from the graphic below, Unipilot TVL grew +44% in January, with the vast majority of it ($1.33m) residing on our Polygon dApp. This bodes well for potential future growth after we expand to Layer-2 networks which have similarly-high volume-to-TVL ratios and low gas fees.
This growth in TVL directly benefits our community, as PILOT staking rewards increased +50% this month and APR currently stands at a respectable 7% (paid in ultrasound ETH, not PILOT inflation).
Wen Dev Do Something?
The core devs at Unipilot have been busy as ever this month, working alongside our auditing partner BlockApex to finalize work on a new smart strategy tool which will backtest more data to improve liquidity provision through Unipilot. We expect to launch with this new strategy on Arbitrum during February.
Concurrently, another group within the Unipilot dev team is working on integrating Quickswap, a Polygon DEX which has current TVL of $172m, above Uniswap v3’s $107m. This work is also anticipated to finalize during February, likely allowing us to expand to Quickswap in March. We are in discussion with Quickswap regarding cross marketing and potential for Unipilot to be integrated into their dApp to allow their users to provide concentrated liquidity in a click.
Additionally, following our expansion to Arbitrum we will be able to launch on Optimism and other networks shortly after.
We aim for Unipilot TVL to rise to $10m to $20m by mid-2023, driven by continued Polygon growth, our expansion to Layer-2 networks such as Arbitrum and Optimism, the integration of additional DEXs such as Quickswap, by forging more partnerships and by bringing our Concentration Preference feature to the Ethereum dApp.
Thanks for joining us on this journey, let’s make 2023 the year of the PILOT!