Yield Tokenization, Liquid Staking Derivatives, RWAfi, Decentralized Exchanges, Next-generation Token Financing Paradigms, and the integration of Memecoin × DeFi × DAO.
Before we begin the introduction, we must first clarify that due to the underdeveloped infrastructure of the Pharos Devnet and the lack of LayerZero integration, we are currently unable to test the omnichain functionality. Therefore, our MVP is temporarily deployed on the testnets of other EVM chains. We hope you understand this limitation. Our omnichain architecture enables users from other EVM chains to access our product deployed on the Pharos Chain, thereby bringing additional liquidity, TVL, and potential users to the Pharos Chain.
Outrun is committed to becoming a pioneer in the next-generation DeFi and Web3 industries. Currently, it consists of four modules: OutStake, OutSwap, FFLaunch and Memeverse. It encompasses yield tokenization, liquid staking derivatives, RWAfi, decentralized exchanges, next-generation token financing paradigm and Memecoin × DeFi × DAO.
Detailed documentation: https://outrun.gitbook.io/doc
Pitch Deck: https://docs.google.com/presentation/d/1sC25HAgzlmZRM3c-mlh63q6EEvSnlRe_/edit?usp=sharing&ouid=115041501217775330434&rtpof=true&sd=true
OutStake is a protocol entirely built around yield-bearing tokens(LSTs , yield-bearing stablecoins, RWA, and so on), introducing the first non-USD stablecoin model tied to yields rates. Compared to other yield token protocols in the market, such as Pendle, OutStake offers greater flexibility, enhanced composability, and provides higher returns along with multiple sources of income. The assets supported by OutStake form the foundational support for the Outrun ecosystem, providing a stable base for the entire system. Specifically, OutStake operates as follows:
A novel staking model based on yield-bearing tokens: Through OutStake, it controls the yields generated by its yield-bearing tokens and unlocks the liquidity of its staked assets, allowing them to be used in a range of DeFi applications. It adopts a completely new design different from the market, enabling users to mint PT/YT tokens with an eternal lifecycle, which offers stronger composability and flexibility.
Yield Rate Token (YT): The value of the Yield Token is directly correlated with the yieldrate of the yield-bearing asset, fluctuating around the asset's yield rate but gradually exceeding it over the long term. The economic model built around it provides stakers with higher income and multiple revenue streams. It is highly composable, enabling developers to create new products around it, thereby enriching the Outrun ecosystem.
Omnichain Universal Principal Token (UPT): UPT is an omnichain universal principal token supported by LayerZero, enabling seamless transfers across different blockchains to amplify its network effects. By locking yield-bearing tokens backed by the same underlying asset, the same UPT can be minted (e.g., staking Stone, wstETH, or rETH can all mint UETH as a principal token). This allows liquidity to be shared among different yield-bearing tokens of the same underlying asset, enhancing the liquidity of similar yield-bearing tokens.
Staking Position (SP): This token represents the right to redeem locked staking positions upon maturity, created by encapsulating the already minted PT (UPT) into a transferable SP token. Since SP holders can redeem the principal portion of the corresponding position after maturity, different fixed yield rates are formed based on the market price of SP at various points in time. Holding SP allows investors to earn fixed yield income based on the underlying asset.
OutSwap's first version, known as Outrun AMM, is built on classic AMM and includes several innovative improvements. The main features are as follows:
Capture Native Yield (Blast L2 Only): On Blast L2, the Outrun AMM adds extra logic to handle the native yields generated by WETH and USDB. All native yield will be distributed to liquidity providers based on their LP shares, ensuring fair allocation and increasing the profitability for market makers. The yield is issued in the form of SY(Standardized Yield).
Separation of Liquidity and Market-Making Fees: Outrun AMM improves the management of market-making fees by separating liquidity from fee collection. This allows users to collect fees without removing liquidity, providing greater flexibility and convenience for liquidity providers.
New Fee Tiers: All classic AMM pools have a fixed swap fee of 0.3%, which results in a lack of flexibility for LPs (liquidity providers) who cannot seek different fee structures based on the assets they provide to the exchange. Outrun AMM will introduce new fee tiers for pool creators, allowing them to build different trading pools for various types of assets when launching pools on Outrun AMM.
Referral Commission Engine: Outrun AMM is currently the only automated market maker on the market integrated with a referral commission engine. We have redesigned the underlying code and opened the referral commission engine to everyone, thereby increasing the composability of the protocol. The rewards for the referral bonus come from the protocol fees and do not harm the interests of LPs. At the same time, this attracts more transactions, bringing higher income to LPs.
MEV Guard: Outrun AMM has integrated an innovative, fully on-chain MEV Guard native module at the AMM granularity level. By significantly increasing the cost and complexity of MEV attacks, it dramatically reduces the occurrence of common MEV attacks in DEXs, such as initial liquidity pool front-running and sandwich attacks. Additionally, it enables LPs to capture a portion of MEV revenue.
In the future, we will continue to iterate, introducing features such as hooks, dynamic fees, and flash accounting to enhance protocol composability, LP revenue, and user experience.
FFLaunch is the first "Risk-Free" LaunchPad that adheres to fair and free launch standards. Investors can acquire tokens by staking and locking yield-bearing tokens. The PT generated from staking these yield-bearing tokens will be paired with a reserved portion of tokens in the contract to provide liquidity on the Outrun AMM. The liquidity provider (LP) tokens will be locked for a certain period, and corresponding tradable liquidity proof tokens are minted. Project teams can raise funds from liquidity provider fees during the locking period.Once the lock period expires, investors can withdraw their locked LP which consist of their PT and the reserved tokens by burning the liquidity proof tokens (or sell them earlier if preferred). This effectively allows users to obtain these tokens for free while continuously participating in the overall liquidity-building process of the project. FFLaunch provides an open interface to support custom launch logic that does not violate fairness and free principles. This model is more equitable and investor-friendly, while enabling project teams to raise sufficient funds.
As an Investor Participating in FFLaunch
Obtaining Tokens for Free: After the liquidity lock-up period expires, investors can redeem the liquidity they added before. This is basically equivalent to obtaining tokens for free. Even if the project fails, investors can still retrieve most of their initial investments, thus obtaining ultra-low-risk returns.
Avoiding Pump and Dump by Insiders: When the tokens are listed, all the tokens are in the liquidity pool and no one has obtained tokens in advance. Moreover, during the liquidity lock-up period, new tokens cannot be minted or released, preventing the project team from using the initial users as the liquidity for their exit.
Continuous Earnings: During the lock-up period, staked Yield-bearing Token will generate yields, distributed in the form of YieldToken(YT), providing investors with additional earnings.
Rug Pull Prevention: The FFLaunch model prevents project teams from absconding with raised funds, ensuring fairer token distribution and protecting investors' rights.
Tradeable Liquidity Proof: Investors mint tradeable liquidity proof tokens when they lock liquidity. They can trade these tokens at any time, thereby managing their risk while their liquidity remains locked.
As a Project Team Participating in FFLaunch
Fair Fundraising: By providing liquidity and a lock-up mechanism, project teams can ensure that the funds raised are more equitable and transparent.
Continuous Fund Flow: Project teams can receive ongoing funding support from transaction fees generated during the LP lock-up period, incentivizing them to continuously improve and maintain the project.
Enhanced Market Liquidity: Since tokens are obtained for free, more users are attracted to participate, increasing the depth of the liquidity pool and enhancing market liquidity.
Market Attention: FFLaunch offers an innovative issuance model that can attract more market attention, especially from investors who are skeptical of traditional ICO/IDO models.
Flexibility and Innovation: Project teams can use ITokenGenerator interface (subject to review) to customize their launch logic, meeting specific needs and enhancing the project's uniqueness and appeal.
User Stickiness: Since investors hold shares of the liquidity locked during the FFLaunch genesis period, each genesis user is considered a shareholder during the liquidity lock period. This ensures that users continuously monitor their investments and potentially provide exposure opportunities for the project, significantly reducing operational obstacles for the project's cold start.
Meme-Based Operations: Given the Memecoin attributes of FFLaunch tokens, project teams can engage with and communicate with users in unique ways through meme-based operations.
Memeverse is a Omnichain memecoin launchpad built on the concept of FFLaunch, featuring memecoin staking and memecoin DAO governance. Compared to FFLaunch, Memeverse has no entry barriers. It has removed the customizable token generator interface and instead uses a universal token template to create memecoins. Users can deploy across all chains with just a few clicks via the website UI, without needing any programming knowledge. For each memecoin, a corresponding Memecoin Yield Vault and Memecoin DAO Treasury are deployed on its governance chain. Users can stake memecoins into the yield vault to earn rewards, which come from the memecoin portion of the market-making profits of the locked genesis liquidity and other potential revenues. The UPT portion of the market-making profits from the locked genesis liquidity goes to the Memecoin DAO Treasury to support the decentralized operations of the memecoin community. Community members participate in governance by staking memecoins to control the use of treasury revenues.
Currently, there are many Memecoins launch methods in the market, but these methods are quite primitive and lack innovation. They also face significant risks, such as insider trading (Some platforms even promote “immediate purchase within the same transaction as the token issuance” as a major selling point.), Rug Pulls, and a strong element of gambling, without creating any new value. Compared to its competitors in the market, Memeverse offers the following advantages:
Unique Symbol Ensures Scarcity: The symbol of each Memecoin is unique throughout the omnichain Memeverse, which ensures the scarcity in naming. This can help Memecoins generated by news trading, for example, have stronger recognition and appeal in the market.
FFLaunch Style Launch: Memeverse launches through FFLaunch to avoid common risks such as fraud, insider trading, and rug pulls in traditional Memecoin issuance. This method ensures that all participants start on an equal footing, reducing their risk and providing a relatively safe way to participate.
Capturing Staking Yields from OutStake: Memeverse allows users to stake yield-bearing tokens to mint UPTs and simultaneously obtain the staking yields generated by OutStake. This improves the utilization rate of funds, enabling investors to participate in the activities of Memecoins while also engaging in DeFi staking. This mechanism not only attracts novice investors to participate in DeFi but also brings more potential users to the DeFi ecosystem.
Memecoin Staking and Restaking: Memecoin holders can stake their memecoins into the Memecoin Yield Vault to mint yield-bearing tokens of memecoins that comply with the ERC4626 standard. The value of these tokens will accumulate over time. Meanwhile, they can also stake and lock the yield-bearing tokens of memecoins again in OutStake, thus obtaining more yields and composability.
Memecoin DAO Governance: The Memecoin DAO Treasury can obtain a continuous fiscal income from the market-making revenue generated by locked liquidity, providing economic support for the decentralized governance of the Memecoin community. Meanwhile, community members can participate in DAO governance by staking Memecoins (while also earning staking rewards), and vote on how to use the treasury funds (such as supporting public affairs, DeSci, AI, venture capital, hosting ecosystem hackathons, developing utilities, IP creation, Meme cultural marketing activities, etc.) to enhance the ecosystem's influence and consensus, or to increase the ecosystem's revenue.
Memeverse Referral Service: Memeverse allows users to generate one-click direct referral links for Memecoin. Clicking the link will take users directly to the Memecoin details page. When the referred users trade using the link, the referrer will receive a commission from the protocol fees.
PPP Low-Risk Attracts More Capital Participation: Compared with the severe PVP sentiment among the current Memecoins on the market, participating in the genesis of Memeverse entails lower risks. Thanks to the features of FFLaunch and the existence of the Memecoin vault, even in extreme circumstances, investors can preserve the vast majority of their investments, and the risks are predictable. This low-risk characteristic attracts funds with a lower risk preference to invest in Memecoins, providing more sufficient liquidity for the Memecoins issued through Memeverse, which lays a solid foundation for the development of Memecoins.
Community Support and Viral Spread from Genesis Users: Every participant in the Memecoin genesis launch becomes a strong advocate for the Memecoin community. They not only hold tokens but also possess liquidity shares locked during the genesis period, making them shareholders during this time. This fundamental drive encourages them to promote the Memecoin they participated in during the liquidity locking period. This mechanism helps reduce operational barriers during the Memecoin community's cold start phase and promotes rapid viral adoption.
In summary, Memeverse provides innovative issuance methods, staking reward mechanisms, economic support measures, decentralized governance and community-driven forces, offering new perspectives and solutions for Memecoin development. These advantages not only help enhance the market competitiveness of Memecoins, but also drive the entire industry towards greater transparency, security, and sustainability.
These products are not independent of each other, they complement and closely intertwine in functionality, linking yield tokenization, liquid staking derivatives, RWAfi, decentralized exchanges, next-generation token financing paradigm and Memecoin × DeFi × DAO. Through their design and interoperability, they construct a complete closed-loop Outrun ecosystem, providing users with diverse DeFi and Web3 experiences.
This is the MVP for our third phase. We have taken into account feedback from the previous community testing, fixed some issues, and introduced new features as well. OutSwap integrates MEV Guard to protect users from initial liquidity front-running attacks and sandwich attacks, while also enabling LPs to capture MEV revenue. To promote the sustainable development of the Memecoin space, we have further improved Memeverse by removing creator revenue. This is because most Memecoin creators did not contribute to the community but instead constantly "drained" it. Simultaneously, community cohesion was insufficient and lacked financial support. We have introduced a cross-chain governance Memecoin DAO, allocating creator revenue to the Memecoin DAO treasury. Memecoin yield tokens and POL tokens serve as governance voting tokens to manage the treasury revenue, thereby enhancing community cohesion, incentivizing member contributions, granting Memecoins infinite evolution capabilities, and ultimately fostering the sustainable development of the entire industry.
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