Timeswap Retrospective — 2023 till date

5 min readOct 5, 2023

GM Time Travelers! 🧑‍🚀 A trip down memory lane to recap everything that has happened since our V2 launch in Feb 2023

Timeswap V2 has now completed seven months of operation across 6 chains — Ethereum Mainnet, Arbitrum One, Polygon PoS, Polygon zkEVM, Mantle network and Base. During this period, we’ve achieved significant milestones by enabling Oracleless lending for many exotic assets thereby unlocking liquidity for many assets previously not seen. Our journey began with the creation of lending/borrowing pools for long-tail LP tokens, assets that previously had no access to secondary utility. Timeswap pools enabled various communities to access fixed yields and non-liquidatable leverage.

Now that Timeswap has come so far, it’s time to take a trip down memory lane and explore protocol’s performance and stats. It’s also the opportune moment to foster the adoption of Oracleless markets on a larger scale. In this blog post, we’ll delve into the protocol’s performance metrics and outline our plans for the future growth of Timeswap.

Stats and Performance

From the outset, we’ve used volume as a primary metric to gauge the protocol’s performance and success. This approach differs from the conventional practice in DeFi, where Total Value Locked (TVL) often takes center stage as the primary metric. We’ll delve deeper into this later.


Volumes represent the total tokens supplied and borrowed from Timeswap pools. It provides an excellent measure of the value unlocked in the form of fixed yields and non-liquidatable loans.

Total Volume: $13.29M
Lend Volume: $7.99M
Borrow Volume: $5.30M

It’s worth noting that all these protocol stats have been achieved without the use of token incentives.

TVL (Total Value Locked)

Our TVL stands at $1M. Several factors influence the TVL of Timeswap pools:

source: defillama
  • Risk Exposure of the Token: Different pools exhibit varying risk exposures, which in turn affect supply and demand dynamics, ultimately impacting TVL and Volumes.
  • Pool Duration: As the average pool duration has increased from Weekly to Biweekly and now Monthly, we’ve witnessed a surge in the protocol’s TVL.
  • Yields: Yields are closely tied to both borrow demand and the duration of the pool.
  • Number of Pools Live: Expanding the array of pools for long-tail tokens and onboarding additional communities can boost the overall TVL.

Following the expiration of a pool, users are required to manually transfer liquidity to another pool. While this can make it challenging to retain sticky liquidity, it showcases the protocol’s ability to continually streamline value for users in a recurring liquidity supply cycle on Timeswap markets.

Unique Tokens Launched

We’ve listed a total of 26 unique tokens over the past few months. These include:

  • Governance Tokens: ARB, QUICK, PUSH, BLUR, STG, RPL, CRV
  • Perp DEX LP Tokens: gDAI, snrLLP, PT-GLP, GMX V2 GM
  • LP Tokens: TraderJoe Auto-Pool LP
  • Pendle Assets: PT-GLP, PT-wstETH
  • LSTs: stETH, StaFi-rETH, unshETH, stMATIC
  • Vault Token Shares: WOOfi weWETH, Velocimeter mooBVM, Aura Vault tokens, Umami glpUSDC
  • Staked/Locked Assets: plsARB, sJOE, dQUICK

A majority of these unique pools involve long-tail assets and LP tokens that had been sitting idle in users’ wallets. By creating money markets for these tokens, we’ve enabled them to unlock secondary liquidity, effectively making them superfluid collateral.

Out of all the pools launched to date, the PlutusDAO plsARB pools serve as an exemplary showcase of how Timeswap pools empower communities to unlock the value of their assets. These pools demonstrate the immense value an oracleless and non-liquidation environment can unlock, and we’re committed to turning this potential into reality.

Market Resilience and Yields

Timeswap pools have operated seamlessly as designed, even during periods of market volatility. The protocol’s oracleless and non-liquidation-based mechanism ensures independent and secure market functionality under all conditions.

We firmly believe that oracleless money markets will become an essential component of DeFi in the months and years ahead.

Timeswap pools have consistently offered double-digit yields for lending Stablecoins, ETH, ARB, MATIC, and WMNT. Lenders can earn competitive fixed yields while selecting the risk exposure of their choice.

Marching Forward: Liquidity Premine

Having introduced pools for exotic and long-tail tokens, it’s now the opportune moment to further scale the protocol’s TVL and volumes. Up until this point, we haven’t provided token incentives for interacting with the dapp. Timeswap is now ready to reward both existing and new users with additional incentives on top of the yields they’re already earning. We have three major improvements lined up, which we believe will be pivotal in scaling the protocol’s TVL to new heights.

  • Liquidity Premine: The Liquidity Premine, featuring $TIME tokens, will commence this month, enabling Lenders, Borrowers, and Liquidity Providers to earn boosted rewards. We’ve also applied for Arbitrum’s STIP grants, and we’re optimistic that both TIME and ARB token rewards will significantly enhance TVL.
  • Liquidity Provision (LP) Feature: After seven months of private testing with partner projects, we’re pleased to announce that the LP feature is now ready to go live for users. The launch of the LP feature, alongside the Premine, will bring new liquidity with different risk/return profiles to the market. LPs will earn fees from lenders and borrowers while stabilizing interest rates in a pool.
  • Longer Duration Pools: We will introduce longer maturity pools with durations ranging from three to six months. These pools will attract more demand from lenders and borrowers.

As we march forward, Keep Swapping Your Tokens through TIME.

TIME is Money ⏳

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