Good Goes Degen
Good Entry is proud to update that we are focusing all our efforts on Degen mode and users will be able to access it starting the week of 11 December 2023. We will share the link on twitter when its ready.
The main things that Degen mode brings to the table are:
- Increasing leverage from 10x to 1000x
- No liquidation with capped downside
- Crazy Yields for LPs
- Better position management
- Most fair and accurate pricing in DeFi for option trading
Building With Community
Good Entry Degen Mode V0 represents our rapid iterative approach with the Good community. The Good Team does not claim to know all the answers. We have deployed Good Entry V1 and observed various technical limitations. Good Entry Degen mode represents the best of what users want and an improvement on the experiences that demand enhancement.
For security, we have dramatically shrunk the code base by approximately ~50%. Succinct mode makes for fewer attack vectors. An audit with veridise was complete and more will be conducted. This gives us confidence to launch. Nonetheless technical risk still remains.
Therefore, Degen Mode will be launched with TVL caps on ezvaults so that we can achieve balance between growth and risk management. If there are exploits, the damage is limited.
During the V0 phase, users are encouraged to send good feedback via discord to help us grow better and know what to prioritise. Good feedback will receive points that can be eligible for partnership season 2 tokens.
To encourage users to deploy into ezVaults initially, we will be deploying Good Entry Arbitrum STIP grant of 200,000 ARB between deployment and January 2024. Upon completion, we project that the product would have sufficient maturity and battle tested to scale TVL to bring the ecosystem to another level.
Migration
Good Entry will be stopping usage of Good Entry V1, which means users will not be able to open new positions or deposit new TVL into the product. This begins on Saturday 9 December 2023, 1200 UTC.
All incentives token and otherwise have stopped for Good Entry V1.
Traders are advised to close their positions and LPs should withdraw their TVL. Discord support will remain to assist through any issues.
Let’s continue to build together a world of Good
One Team One Dream💚
