Announcing the Launch of the v3 Incentivised Alpha

Thetanuts Finance
4 min readDec 13, 2023

Introduction

Today, we’re pleased to announce the launch of Phase I of the Thetanuts Finance v3 Incentivised Alpha. The milestone represents months of hard work by the Thetanuts Finance team — as we transit from being an option vault protocol to becoming a decentralised on-chain options protocol focused on altcoins, where users can go long or short on on-chain options.

For a recap on the v3 Upgrade, please refer to our earlier thought pieces:
- Thetanuts Finance’s first-to-market v3 architecture
- Under the Hood of on Thetanuts Finance v3

With the v3 upgrade, we’re proud to announce:
- Next-gen v3 Trading Interface
- Refreshed Thetanuts Finance Landing Page
- New Thetanuts Finance Dune Dashboards
- Updated Thetanuts Finance v3 Documentation

Objectives for the Thetanuts Finance v3 Incentivised Alpha

Through the v3 Incentivised Alpha, we hope to achieve a number of objectives including:

  • Bringing the Community Together: The v3 Incentivised Alpha represents an opportunity to bring users (Traders and Liquidity Providers) together to learn more about our first-to-market v3 architecture and upgraded trading interface.
  • Bootstrapping TVL and Trading Volume: Through the v3 Incentivised Alpha, we hope to bootstrap TVL and Trading Volume — which are both key components for a successful v3 launch.
  • Gathering Feedback on v3: We seek to gain valuable feedback from the Thetanuts Finance Community on how we can improve Thetanuts Finance v3 as we move toward v3 Mainnet.

Phase I of the Thetanuts Finance v3 Incentivised Alpha

Focus on Traders for Phase I

The v3 Incentivised Alpha will be segmented into two phases. Phase I will focus mostly on Traders, introducing users to basic concepts our v3 architecture — including Long, Short, Close, and Boost. Phase II will later introduce concepts for Liquidity Providers, where they can generate up to five sources of yield by providing liquidity.

Supported Networks

We intend to roll out the v3 Incentivised Alpha first on Arbitrum — given Arbitrum’s robust DeFi ecosystem, higher transaction speeds, and lower network fees. Furthermore, we also intend to fulfil our commitment to the Arbitrum ecosystem after achieving quorum for Arbitrum STIP in October 2023.

On Arbitrum, users can experience the full functionality of our v3 architecture and upgraded trading interface — enabling users to go long or short on on-chain options. While users on other networks will experience our upgraded trading interface, trading functionality will be limited — where users will only be able to short calls or puts (i.e. deploy collateral into Basic Vault positions).

Furthermore, with the recent successful passing of the Proposal to Backfund Arbitrum STIP Proposals on Arbitrum in December 2023, Thetanuts Finance will now be an incentive recipient for Arbitrum STIP — where 200,000 $ARB will be used to incentivize the community for their contribution to Thetanuts Finance v3’s Trading Volume and TVL.

Whitelisted wallets only

Please note that only whitelisted addresses will be allowed to participate in the Thetanuts Finance v3 Incentivised Alpha. Should you be interested in participating in the v3 Incentivised Alpha, please sign up here: https://forms.gle/xFHrWLYMp5LqoScGA

Please check back regularly on our Trading Interface, as we will be slowly whitelisting wallets in the order that they registered. Reach out to us on Twitter or Discord if you’d like to have priority access to the Thetanuts Finance v3 Incentivised Alpha.

v3 Incentivised Alpha to Last 1–2mo

We expect the v3 Incentivised Alpha to last 1–2 months — with Phases I & II lasting approximately 15–30 days each.

Measuring Success of the v3 Incentivised Alpha

Per our previous article outlining the Thetanuts Finance v3 upgrade, we see that $NUTS will be used to help achieve the long-term objectives of the protocol — including decentralisation, governance, and incentives. We believe that the v3 Incentivised Alpha should be the first instance of Thetanuts Finance utilising $NUTS to achieve our objectives — in this case, rallying the Thetanuts Finance Community around the v3 upgrade.

The distinct phases in the v3 Incentivised Alpha also give us insight as to how we can measure potentially rewarding users on the v3 Incentivised Alpha.

  • Phase I (Focused on Trading): Trading Volume being measured as a core metric.
  • Phase II (Focus on Trading and Liquidity Provision): Trading Volume and TVL being measured as core metrics.

Note that any rewards in conjunction with the v3 Incentivised Alpha will be provided following a successful v3 Mainnet launch, and may be subject to a vesting schedule.

Concluding Thoughts

We’re excited to hear your feedback on our first-to-market v3 architecture and upgraded trading interface — so please let us know how we can improve as we move toward v3 Mainnet. As always, stay tuned for updates and feel free to reach us on our Twitter and Discord!

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Thetanuts Finance

Thetanuts Finance is building a decentralised on-chain options protocol focused on altcoin options 🥜❓