<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/0*QOqRrTXT7yS5Rkbt"></figure>The integration with Aura Finance is live and can be accessed through the <a href="https://app.sense.finance/eth-mainnet/fixed">Sense Portal</a>.
The first Aura Finance vault onboarded to Sense is Aura wstETH-rETH-sfrxETH-BPT, and its first series matures on June 31st, 2023.
Sense users can now earn fixed rates and trade future yield atop high-yielding Aura Finance strategies, and holders of those strategies can earn extra yield by providing their liquidity to Space pools on Sense, earning trading fees.
Aura’s wstETH-rETH-sfrxETH-BPT has historically had strong yields, with staking yields and trading fees further boosted by $BAL and $AURA incentives.
Sense users can deposit into the Space pool and trade rates using rETH. Historically, the rates on Aura’s wstETH-rETH-sfrxETH-BPT have been among the most attractive rates in DeFi.
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/0*sKIx4HnHpntCaQ66"></figure>Provide liquidity: <a href="https://app.sense.finance/eth-mainnet/pool">https://app.sense.finance/eth-mainnet/pool</a>
Get fixed rates : <a href="https://app.sense.finance/eth-mainnet/fixed">https://app.sense.finance/eth-mainnet/fixed</a>
Trade future yields: <a href="https://app.sense.finance/eth-mainnet/rates">https://app.sense.finance/eth-mainnet/rates</a>
This integration is another step toward the future Sense is building: our vision is to create decentralized, transparent, fair factories for yield curves and other yield primitives on-chain, along with fully decentralized markets for yield discovery.
If you’re excited about this vision and want to help build it, join us. <a href="https://www.notion.so/46803aea92234788b8a4621fa3b46ac2">We’re actively hiring</a> and are always on the lookout for top talent. Join our community on <a href="https://t.co/6KBRWKZp5C">Discord</a> to get involved, and follow us on <a href="https://twitter.com/senseprotocol">Twitter</a> for updates!
<img src="https://medium.com/_/stat?event=post.clientViewed&amp;referrerSource=full_rss&amp;postId=c5c43fe22f43" width="1" height="1" alt=""><hr>
<a href="https://medium.com/sensefinance/aura-integration-is-live-on-sense-protocol-c5c43fe22f43">Aura Integration is Live on Sense Protocol</a> was originally published in <a href="https://medium.com/sensefinance">Sense Finance</a> on Medium, where people are continuing the conversation by highlighting and responding to this story.

Aura Integration is Live on Sense Protocol

<h4>Lessons &amp; Examples From 10+ DeFi Protocols</h4>
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*BjQLU0YS-DDgQmm2ypcEjA.png"></figure>Community in Web3 is far from simple and anything but easy. Often overlooked, community is the heartbeat of Web3 and the respective projects that live within. It is no surprise that a strong, fun, and welcoming community is a crucial component for success in Web3. Community creates purpose, attachment, and feelings of belonging.
However, with the growing adoption of Web3 comes a scaling issue with Web3 communities. So many communities, so many topics, so many memes, so many gms — where you do spend your time? Well, the logical answer is to spend your time within the “best” community, whatever that means. At, Sense, we challenged ourselves to answer that question and find what makes a great community, and what better way to do so than to ask great communities.
Over the past 2 months, we analyzed over 10 different DeFi protocol’s communities to learn about what works best when building a Web3 community. We spent time engaging in their Discord, looking at their social media presence on Twitter, and talking with their community managers about their best tips when it comes to community building.
Here is what we learned…
<h3>1: Every Community is Unique</h3>
No two communities are alike, and that is exactly how it should be. Each and every different community we researched, including our own, had a different story to tell, a different target audience, and a different end goal.
Community should never be treated like a standardized process since it varies for each an every group. The ideal community member for one Web3 protocol will not be exactly the same as another. The ideal Bored Ape Yacht Club NFT holders does not have the exact same interests and intentions as the ideal wstETH liquidity provider on AAVE. One is looking to collect a popular jpeg to join an exclusive club, while the other is looking for an attractive yield and risk-to-reward ratio on their long term ETH holdings. Taking this one step further, Sense users are even different from AAVE users although they may fall under the DeFi umbrella. One is looking to yield and loan on AAVE, versus someone looking to get outsized returns from trading yields on Sense. Although there are similarities, the part that cannot be duplicated is the feeling one gets when involved.
<h3>2: An Active Team = A Happy Community</h3>
No one wants a community where the leaders or project team members are dormant and/or rude. The founders of the community are the ones that set the tone for everyone else. A good founding team engages with their members, answers any questions on time, and maintains a positive attitude through thick and thin.
In fact, the Community Manager at Euler said exactly that. “I would say that we are attentive and are engaging with our community… For us it is really important that the community is a part of the building process” is what the Euler CM told us. They claim that the majority of Euler’s community growth comes down to the team being very active and making sure that the members of the community felt involved throughout the process of developing and growing the project.
At Sense, we take pride in being available for our community as much as we can. Although it can be tricky to be available at all times given the 24/7 nature of crypto and time zone differences, we always make sure our community is heard and answered. We even went as far as building out specific engagement channels that cover topics beyond crypto and Web3 so encourage an environment of friendliness and commonality to build strength within the community.
<h3>3: Everyone Loves A Good Meme</h3>
“There is nothing in the world so irresistibly contagious as laughter and good humour.” — Charles Dickens
There is nothing better than a good sense of humor. Utilizing laughter as a tool to connect people is a great way to build a community. Especially in the modern world, laughter is everywhere we look. Beyond our face-to-face conversations, laughter is everywhere online. Funny videos, sarcastic Tweets, and most importantly… memes. Meme culture seems to be growing at a never-ending, parabolic rate. In fact, according to <a href="https://www.statista.com/statistics/459134/young-adult-teen-social-content-sharing-usa/">Statista</a>, the global meme industry was valued at $2.3 billion in 2020 and is expected to grow to $6.1 billion by 2025. Memes. The average millennial is also reported to look at <a href="https://www.forbes.com/sites/forbescommunicationscouncil/2018/08/10/memes-a-digital-marketing-tool-for-every-industry/?sh=43cfa9682664">20–30 memes per day</a>, with memes also generating more organic engagement and higher click-through-rates for businesses. Just when you thought you have seen it all, there is always some new meme that will crack you up. And that’s the beautiful thing about it: humor is always changing.
In Web3, meme culture is at the forefront of community building and social media engagement. Throughout our research, we found that almost every community had experimented with leveraging memes to help grow. This included the likes of a dedicated meme channels on Discord and hosting a meme competition on Twitter.
When we spoke with the Community Manager at Dopex, they were proud to share that meme culture played a very important role in the success of their community. Part of Dopex’s rollout included launching an NFT collection called “Diamond Pepes” which are a collection of unique PFP-style Pepe the frog images. The NFT collection has an assortment of traits and characteristics making up over 1000 unique Diamond Pepe characters. The NFTs are fun, the marketing is humorous, and the project has been a success. In fact, so much so that the Dopex team has elected a community member to be the “CEO of Vibes” for the NFT project to ensure the meme culture remains strong amongst the Diamond Pepe NFT holders as well as the rest of the Dopex community.
We took inspiration from meme culture and the success of the Diamond Pepe NFT collection with our recent March Memeness campaign. A twist on the annual college basketball tournament that is notoriously known for playoff brackets, voting, and upsets, we decided to launch a community meme competition to vote on the best memes and reward the winners with some crypto prizes.
<h3>4: Real Winners Are Built in the Bear Markets</h3>
The one commonality amongst all of the great communities we researched was that they were continuing to build. Similar to the earlier point about having an active team, if a community is able to develop during a bear market then they are poised for success. It is important for the project to be on a continuous path of development, upgrades, improvements, and new features in order to show the community that they are here for a good time and a long time.
All of the projects that we spoke with had all made recent announcements regarding a new feature, expansion to a new blockchain, new liquidity pool, and more. When speaking with the teams, they all expressed how they continue to build, have things planned ahead, and even were open to collaborating with us at Sense. These kinds of projects are ones that build real products and relationships during the cold, quiet bear markets so that they are ready for the parabolic growth during the bull market.
One prime example of this was Voltz protocols launch of SBTs (Soulbound Tokens). First described by Vitalik in a research article, SBTs are an old concept taken from World of Warcraft and reimagined for Web3. These are tokens that are earned by playing the game and ranking up, but they cannot be transferred between accounts. These tokens often bring some sort of benefit to the user, which then encourages them to continue playing the game. Voltz launched a set of SBTs that can be earned by “grinding through the Voltz protocol”. SBTs are NFT tokens automatically assigned to the user’s wallet and new badges will be available every quarter. This is a perfect example of building an attractive, unique feature during a bear market that is scalable during the next bull market.
<h3>5: “Tell”, Don’t “Sell”</h3>
As individuals, we are constantly being sold to. Whether it is on-chain or off-chain, there are endless brands, companies, and individuals trying to sell us their product or service. Funny enough, the offers that come across as the most “salesy” are typically the ones that we deny the most often. Think about it. No one likes a spammy sales email or scripted speech to try and convince them to buy something. Instead, brands should focus on telling the story, not selling the story.
This is no different for Web3 communities. Sure, while it is great to outline all of the features and specs that make your project better than the competition, that is only half the job. Protocol users and community members join a project’s community because they have been told a story that resonates with them and they want to be a part of it. This can be done through creative marketing, community events, community culture, and more.
A perfect example comes from an IRS (Interest Rate Swaps) protocol that we got in touch with, IPOR. We spoke with their Community Manager, Vlad, and he told us that IPOR has many different moving parts of their community that create the story. For one, they have created what they call “Iporians”. Vlad tells us “This is the highest community standing and is reserved for those who show a strong commitment to the IPOR Protocol, a high level and quality of engagement, and long-standing trust within the community”. They have dedicated community members who help share the story and encourage others to be apart of the journey. On top of this, IPOR runs regular community calls to update everyone, and host trading competitions to encourage new and existing users to use the platform.
It is important for any community to have a story, and to share that story with members along the way. Make them feel apart of the story and give them a reason to stick around while the story continues to be written.
<h3>Final Thoughts</h3>
At Sense, our story is still being written. Our resilient team continues to move at full pace during the bear market in order to ensure we are delivering the best possible product and building the best possible community. We are excited for our story to develop and unravel as time goes on. Our mission is to build a cohesive brand and story that our community can be proud to stand with.
In conclusion, Web3 is not just about technology, it is about creating a new kind of internet that empowers communities on a global scale. The importance of community in Web3 cannot be overstated. It is the foundation upon which decentralized systems are built, and it is what makes Web3 different from the Web2 we have today. As we move into this new era of the internet, let us remember that the power of Web3 lies not only in the technology, but in the people who use it.
We look forward to continuing our research surrounding Web3 communities and aim to make it a regular part of what we do. At Sense, we are constantly learning and growing with Web3 to help leverage new technologies to change the way we use the internet.
If you would like to join the Sense community: <a href="https://t.co/fU6OL7FZt6">Join the Discord</a> <a href="https://twitter.com/senseprotocol">Follow us on Twitter</a>
A big shoutout to all of the communities that we researched and their team members that we spoke with. Projects include Opyn, Ribbon, Euler, QiDAO, Dopex, Lyra, Hashflow, Rage Trade, Voltz, IPOR, Premia, Gearbox.
<img src="https://medium.com/_/stat?event=post.clientViewed&amp;referrerSource=full_rss&amp;postId=b94b061870d2" width="1" height="1" alt="">

The Art of Building a Web3 Community

Our expanded integration with Idle Finance is live and can be accessed through the <a href="https://app.sense.finance/eth-mainnet/fixed">Sense Portal</a>.
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*Sl2U8SCScVGkf0okEsGL1Q.png"></figure>Sense has teamed up with Idle Finance to launch a Rolling Liquidity Vault for their <a href="https://app.idle.finance/#/earn/best-yield/0xdc7777c771a6e4b3a82830781bdde4dbc78f320e">Junior USDC Best Yield Strategy</a>.
Sense users can now earn fixed rates and trade future yield atop the Junior USDC Best Yield Strategy, and USDC holders can earn extra yield by providing <a href="https://app.sense.finance/eth-mainnet/pool">their liquidity</a> to the Space Pool on Sense and earning trading fees. Currently, the yield for an LP is 8%.
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*LhTWnWjHHyTw4AsZOpsF6w.png"></figure>Idle’s Junior USDC Best Yield strategy gets improved yield versus by automatically moving between different Idle USDC Junior Tranches based on what is providing the most attractive yield.
If you want higher yields, this series could be a fit for you.
<h3>Incentives for early Space LPs</h3>
Finally, we’re excited to announce an incentive program with Idle DAO. A total of 1,000 $IDLE will be distributed as rewards to eligible Space Pool LPs.
To be eligible, and LP must be one of the first 10 LPs to deposit over $10,000 and must remain in the pool for at least 30 days.
Eligible deposits in the next 7 days will be rewarded proportional to the amount of liquidity provided. LPs will be rewarded on a first come, first serve basis.
Provide liquidity: <a href="https://app.sense.finance/eth-mainnet/pool">https://app.sense.finance/eth-mainnet/pool</a>
Get fixed rates : <a href="https://app.sense.finance/eth-mainnet/fixed">https://app.sense.finance/eth-mainnet/fixed</a>
Trade future yields: <a href="https://app.sense.finance/eth-mainnet/rates">https://app.sense.finance/eth-mainnet/rates</a>
<h3>Rapid integration with 4626 vaults</h3>
The Junior Tranche Euler USDC strategy was onboarded through Sense’s new ERC4626 adapter factory, which can onboard any compliant asset with a single on-chain function call. No longer do integrations require custom adapters and long development lifecycles. Creating fixed-rate markets on Sense is as easy as instantiating a new AMM pool on Uniswap.
With the help of a soon-to-be-launched UI, any protocol team &amp; DAO will be free to onboard their yield-bearing assets on Sense. If you are interested in enabling fixed rates in your ecosystem, please join our discord and reach out to us!
This integration is another step toward the future Sense is building: our vision is to create decentralized, transparent, fair factories for yield curves and other yield primitives on-chain along with fully decentralized markets for yield discovery.
If you’re excited about this vision and want to help build it, join us. <a href="https://www.notion.so/Sense-is-Hiring-46803aea92234788b8a4621fa3b46ac2">We’re actively hiring</a> and are always on the lookout for top talent. Join our community on <a href="https://t.co/6KBRWKZp5C">Discord</a> to get involved, and follow us on <a href="https://twitter.com/senseprotocol">Twitter</a> for updates!
<img src="https://medium.com/_/stat?event=post.clientViewed&amp;referrerSource=full_rss&amp;postId=3549a90301f6" width="1" height="1" alt=""><hr>
<a href="https://medium.com/sensefinance/expanded-idle-integration-blog-post-3549a90301f6">Idle Finance’s USDC Junior Best Yield Strategy is Live on Sense</a> was originally published in <a href="https://medium.com/sensefinance">Sense Finance</a> on Medium, where people are continuing the conversation by highlighting and responding to this story.

Idle Finance’s USDC Junior Best Yield Strategy is Live on Sense

<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*hSeYmyrpac_zoslTP77Ghg.png"></figure>Today Sense takes a leap toward completing our mission of creating <a href="https://medium.com/sensefinance/building-for-a-permissionless-future-f59d4709b2a5">permissionless fixed-rate infrastructure</a>. Anyone can now onboard new assets and launch new series through the Sense Portal using the public beta of our Adapter UI!
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*6LUAHcKetccohI__aTnMeg.png"></figure>With the new Sense Adapter UI, users can roll matured series or permissionlessly create new fixed-rate series at a maturity of their choosing.
To deploy a new series, all they need to do is click the “Deploy New Adapter” button and fill out the form. If you’re unsure where to find the correct factory address, come ask us in the <a href="https://discord.com/invite/krVGnQgSzG">discord</a>.
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*2I5sxJ6vzH2mPMDRDh9MZg.png"></figure>By rolling a series or launching their own, users become a <a href="https://docs.sense.finance/docs/series-lifecycle-detail/">series sponsor, which gives them a privileged window after maturity to roll the series, reclaim your stake, and collect any issuance fees the adapter has earned</a> before anyone else can.
The new adapter UI doesn’t just empower users to create or roll new series for existing Sense supported assets: users can onboard any variable-yielding asset from a protocol or standard for which Sense has created an adapter factory.
The following adapter factories are live on mainnet:
<ul>
<li>Compound v2 factory: this enables series for all cTokens</li>
<li>ERC-4626 factory: this enables series for all <a href="https://developers.morpho.xyz/interact-with-morpho/erc-4626-vaults">maTokens</a>, all of angle’s SLPs, Idle’s junior tranches, and any other token that conforms to ERC-4626 standard.</li>
</ul>
More factories will be coming out over time.
To onboard a new asset to Sense, all you need is the address of the yield-bearing token and the address of the relevant Adapter Factory. Just after launch, new tokens may be restricted by whitelisting, but you can request that the team whitelist any unwhitelisted tokens in the <a href="https://discord.com/invite/krVGnQgSzG">discord</a>.
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*JLGANV8BMjgs3zb56zwyOw.png"></figure>Once you’ve deployed the adapter, you’ll see it appear below and can “roll” the first series.
Have another asset you want to onboard that isn’t covered by an existing factory? Reach out to us in the <a href="https://discord.com/invite/krVGnQgSzG">discord</a>.
This permissionless Adapter UI is another step toward the future Sense is building: our vision is to create decentralized, transparent, fair factories for yield curves and other yield primitives on-chain, along with fully decentralized markets for yield discovery.
If you’re excited about this vision and want to help build it, join us. <a href="https://www.notion.so/46803aea92234788b8a4621fa3b46ac2">We’re actively hiring</a> and are always on the lookout for top talent. Join our community on <a href="https://t.co/6KBRWKZp5C">Discord</a> to get involved, and follow us on <a href="https://twitter.com/senseprotocol">Twitter</a> for updates!
<img src="https://medium.com/_/stat?event=post.clientViewed&amp;referrerSource=full_rss&amp;postId=fa50ffc1a4d3" width="1" height="1" alt=""><hr>
<a href="https://medium.com/sensefinance/permissionless-adapter-ui-public-beta-is-live-on-sense-fa50ffc1a4d3">Permissionless Adapter UI Public Beta Is Live on Sense</a> was originally published in <a href="https://medium.com/sensefinance">Sense Finance</a> on Medium, where people are continuing the conversation by highlighting and responding to this story.

Permissionless Adapter UI Public Beta Is Live on Sense

<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*jDNCp7AUN1_2617_zSgFRA.png"></figure>The first Angle asset to be integrated are Angle Frax LP Tokens (sanFRAX_EUR). The fixed rate series is a quarterly <a href="https://docs.sense.finance/docs/rolling-liquidity-vaults/">rolling liquidity vault</a>. This means there will always be an end-of-quarter maturity each quarter, and liquidity providers can provide passive liquidity to the fixed rate market that will automatically roll into each new quarterly series.
The integration with Angle Protocol is now live and can be accessed through the <a href="https://app.sense.finance/eth-mainnet/fixed">Sense Portal</a>.
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*_diTe4q5KS1df_IpJ2GRUA.png"></figure>Sense users can now earn fixed rates and trade future yields for Angle Frax LP positions, and Angle Frax LPs can now rehypothecate those LP tokens as liquidity in the <a href="https://docs.sense.finance/docs/space-pool-performance/">Sense Space Pool</a> to earn fees on top of their yield.
Any $ANGLE rewards are distributed to Sense YT holders, since they are the beneficiaries of both the Angle Frax LP yield and those token incentives.
Provide liquidity with Angle Frax LP Shares: <a href="https://app.sense.finance/eth-mainnet/pool">https://app.sense.finance/eth-mainnet/pool</a>
Get fixed rates on Frax : <a href="https://app.sense.finance/eth-mainnet/fixed">https://app.sense.finance/eth-mainnet/fixed</a>
Trade future yields: <a href="https://app.sense.finance/eth-mainnet/rates">https://app.sense.finance/eth-mainnet/rates</a>
<h3>Rapid integration with 4626 vaults</h3>
Angle Frax LP tokens were onboarded through Sense’s new ERC4626 adapter factory, which can onboard any compliant asset with a single on-chain function call. No longer do integrations require custom adapters and long development lifecycles. Creating fixed-rate markets on Sense is now as easy as instantiating a new AMM pool on Uniswap.
With the help of a very-soon-to-be-launched UI, any protocol team &amp; DAO will be free to onboard their yield-bearing assets on Sense. If you are interested in enabling fixed rates in your ecosystem, please join our discord and reach out to us!
This integration is another step toward the future Sense is building: our vision is to create decentralized, transparent, fair factories for yield curves and other yield primitives on-chain along with fully decentralized markets for yield discovery.
If you’re excited about this vision and want to help build it, join us. <a href="https://www.notion.so/46803aea92234788b8a4621fa3b46ac2">We’re actively hiring</a> and are always on the lookout for top talent. Join our community on <a href="http://discord.gg/senseprotocol">Discord</a> to get involved, and follow us on <a href="https://twitter.com/senseprotocol">Twitter</a> for updates!
<img src="https://medium.com/_/stat?event=post.clientViewed&amp;referrerSource=full_rss&amp;postId=ec28a430741b" width="1" height="1" alt="">

Angle Protocol Integration is Now Live on Sense

A note from our founders, <a href="https://twitter.com/KentonPrescott">@kentonprescott</a> &amp; <a href="https://twitter.com/jparklev">@jparklev</a>
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*Ase9EoKMnvFkR2t4hKKW7Q.png"></figure>It’s hard to believe that another year has come and gone, but what a year it has been for Sense! We made tremendous progress last year building out the foundation for the Sense ecosystem, and we’ve already hit the ground running on an even more ambitious year.
Below, we reflect on 2022 and share a sneak peek at what we’re prioritizing in 2023.
<h3>Reflection on 2022</h3>
The year of launching &amp; learning
Despite the challenges that crypto faced, with the collapse of FTX, TerraLuna, and 3AC, DeFi stood its ground and continued to operate unscathed. Sense was no exception, and this stability allowed us to continue building towards the vision of <a href="https://medium.com/sensefinance/building-for-a-permissionless-future-f59d4709b2a5">permissionless infrastructure for fixed income</a>.
First and foremost, we’re immensely proud of the Sense core team in successfully launching Sense Protocol. Some of us helped launch Maker’s <a href="https://blog.makerdao.com/multi-collateral-dai-is-live/">Multi-Collateral Dai (MCD)</a>, but it was no match against the highly ambitious Sense launch, which included the Core, AMM, and (now deprecated) Fuse borrowing/lending pool. Thankfully, the team’s attention to detail and hunger for excellence filled any gaps in our experience.
After three weeks of last-mile adjustments, private mainnet deployments, and 14 hr+ days, <a href="https://twitter.com/senseprotocol/status/1507010402260901906">we launched the Sense Protocol</a> on March 24th and <a href="https://twitter.com/senseprotocol/status/1515045403711971332">hit our guarded launch cap in 22 days!</a>
What an achievement! Shortly after our joyous hoorays, the team jumped back into post-launch ops, tackling bugs, educating the community, and responding to a wave of questions. It was a thrill, and something not easily replicable (outside of mainnet launches, of course).
With the protocol humming along in production, we began our efforts to scale Sense. Throughout the year, we:
Delivered key infrastructure innovations that enabled:
<ul>
<li>Higher fixed rates ← <a href="https://twitter.com/senseprotocol/status/1526165739866038274">Capital efficient YT swaps</a>
</li>
<li>Rapid onboarding of assets ← <a href="https://twitter.com/senseprotocol/status/1551509619167600640">ERC4626 adapter factory</a>
</li>
<li>Passive Liquidity ← <a href="https://twitter.com/senseprotocol/status/1598369557785284623">Rolling Liquidity Vaults</a>
</li>
</ul>
Partnered with some of the fastest-growing DeFi protocols, such as:
<ul>
<li>Morpho Labs to <a href="https://twitter.com/senseprotocol/status/1569695129384124416">onboard their Morpho-Aave tokens</a>
</li>
<li>FiatDAO to onboard Sense’s PTs for <a href="https://twitter.com/KentonPrescott/status/1588203728645005312">levered fixed rates</a>
</li>
<li>Idle Finance to onboard their <a href="https://twitter.com/senseprotocol/status/1603799562539483142">high-yielding stETH junior tranche</a>,</li>
</ul>
Consistently improved the Portal &amp; launched products, giving users visibility into:
<ul>
<li>Before/after effects of their transaction ← <a href="https://twitter.com/senseprotocol/status/1562081723977981954">Transaction Review</a>
</li>
<li>Yield curves created by Sense ← <a href="https://www.web3yieldcurve.com/">Web3 Yield Curve Dashboard</a>
</li>
<li>Sense Protocol analytics ← <a href="https://dune.com/aby/sense-v1">Sense dune dashboard</a>,</li>
</ul>
Paid out sizable bounties and praised whitehats who reported the:
<ul>
<li><a href="https://medium.com/sensefinance/disclosure-fixing-a-critical-bug-in-the-sense-space-oracle-42a0bed65bc2">Sense Space oracle bug</a></li>
<li><a href="https://discord.com/channels/790088877381517322/862911625349562408/972160700082421760">Post-maturity airdrop dilution bug</a></li>
<li>
<a href="https://medium.com/sensefinance/post-mortem-stale-steth-price-feed-in-a7-c70d648bef89">Stale stETH price feed</a>,</li>
</ul>
And launched numerous community efforts, such as:
<ul>
<li>Contests (<a href="https://twitter.com/senseprotocol/status/1545043707182866433">SenseShift</a>, header design, <a href="https://twitter.com/senseprotocol/status/1492204120194777088">sticker contest</a>)</li>
<li><a href="https://twitter.com/senseprotocol/status/1587095753780039686">Engagement roles</a></li>
</ul>
Moreover, 2022 is when Sense hired its first <a href="https://twitter.com/senseprotocol/status/1521172025892433921">Head of Growth (aka Mister)</a> and first <a href="https://twitter.com/senseprotocol/status/1559914559435165697">Community Manager (aka David)</a>. At 7 full-time contributors, we’re a small team with big ambitions, so their inclusion helped push many releases past the finish line in stride!
<h3>Metrics</h3>
We launched Sense into the bear market, knowing that DeFi usage was dropping across the board. Numerous protocols, stuffed with hopium-inflated token incentives, saw a precipitous drop in TVL and fundamental metrics. Despite that, Sense’s TVL &amp; volume metrics have steadily grown in ETH terms and have yet to reach their inflection points in 2023.
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*kmPixfABCWITODYmy9YFUA.png"><figcaption>From the Sense Dune Dashboard: <a href="https://dune.com/aby/sense-v1">https://dune.com/aby/sense-v1</a></figcaption></figure>As a project without token incentives, we’re relentlessly focused on building products that users want, not vehicles for free money.
It’s the only path where we can gather feedback on key value mechanisms and <a href="https://twitter.com/KentonPrescott/status/1577317869586591744?s=20&amp;t=4eRtAhKvu4k78FaKEOieHw">iterate toward PMF with high conviction</a>. Hence our strategy is to build products with high stickiness, even at the expense of rapid growth.
<h3>A look into 2023</h3>
The year of scaling and innovating
Looking ahead to 2023, we have a number of exciting initiatives in the works. We’ll continue to innovate in the contract layer and solve hardcore engineering problems for the fixed-income space. However, this year, we’re following a more user-centric design process that’ll help us find &amp; keep PMF, indefinitely.
Below are our priorities:
<ol>
<li>
Go hands off — Sense-v1 was designed to be fully permissionless, guarded only by a simple flag in the Sense Core. With our 4626 Adapter factory and our soon-to-be-launched adapter/series management UI, the DeFi community will have what it needs to fully leverage the utility of on-demand fixed income. More details to follow.</li>
<li>
Product UI/UX redesign — Sense needs to be 10x simpler for casual savers who don’t care about protocol mechanics and 10x more informative for professional yield traders who need the right information in the right presentation to make the best possible trade.</li>
<li>
Handle size — to serve large capital allocators, we’re investing heavily in R&amp;D to improve price execution for markets atop Sense-v1 (cough block trading). Moreover, we’ve already begun work towards our next-generation fixed-rate AMM, which provides a step-function improvement to anything in the market to date.</li>
<li>
Borrowing/Lending — Borrowing/lending of PTs, YTs, and LP shares leads to greater capital efficiency, liquidity, and price discovery in the Sense markets. It’s an essential augmentation to any asset, and it’s a prerequisite to mature capital markets. <a href="https://medium.com/sensefinance/sense-finance-x-rari-capital-5c0e0b6289d4">The Sense Fuse Pool</a> was our first borrowing/lending integration (now deprecated), and the <a href="https://twitter.com/fiatdao/status/1612910724958887941">FiatDAO integration was our second</a>. We’ll continue to iterate towards the vision of seamless borrowing/lending for all Sense assets. More to come soon!</li>
<li>
Establish a Blue Chip Community — We believe that community is a crucial component of any successful DeFi project, and we’ve been fortunate to have a supportive and engaged community throughout 2022. This is the year that the Sense community levels up.</li>
</ol>
To the team, users, and community, thank you again for your hard work and commitment. We can’t wait to see what we’ll accomplish together in the coming year.
<h3>Next up</h3>
As we roll through January, we’re excited to announce <a href="https://twitter.com/senseprotocol/status/1613182028840574976">Yield your thoughts: A DeFi Fixed Income Feedback Initiative</a>. All submissions are appreciated and critical to the development of Sense, so please take a moment to fill out the survey!
Finally, if you’re excited about the vision of permissionless yield curve generation and want to help build it — join us! We’re actively hiring for a full-time <a href="https://jobs.lever.co/sensefinance/7c977563-63c0-4bac-bde8-fc76487727e9">Designer</a> and <a href="https://jobs.lever.co/sensefinance/d4060273-c30d-41ca-9a9a-21be3dc1267c">Smart Contract Engineer</a>, and are always <a href="https://jobs.lever.co/sensefinance">looking for top talent.</a>
Join our community on <a href="https://t.co/6KBRWKZp5C">Discord</a> to get involved, and follow us on <a href="https://twitter.com/senseprotocol">Twitter</a> for updates!
Thank you
Kenton &amp; Josh
<img src="https://medium.com/_/stat?event=post.clientViewed&amp;referrerSource=full_rss&amp;postId=e88c04d5ac6b" width="1" height="1" alt=""><hr>
<a href="https://medium.com/sensefinance/steadfast-and-ambitious-our-2022-recap-and-2023-roadmap-e88c04d5ac6b">Steadfast and Ambitious: Our 2022 Recap and 2023 Roadmap</a> was originally published in <a href="https://medium.com/sensefinance">Sense Finance</a> on Medium, where people are continuing the conversation by highlighting and responding to this story.

Steadfast and Ambitious: Our 2022 Recap and 2023 Roadmap

Fixed rates, boosted returns for LPs, and concentrated $MORPHO rewards now available.
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*fpn_p-iEScFSd3iMkN1plQ.png"></figure>The previously announced <a href="https://medium.com/sensefinance/morpho-aave-integration-is-live-on-sense-b565db516337">Morpho-Aave protocol integration</a> has been expanded to include $maUSDT and $maUSDC and can be accessed through the <a href="https://app.sense.finance/eth-mainnet/fixed">Sense Portal</a>.
The new series have been launched as <a href="https://docs.sense.finance/docs/rolling-liquidity-vaults/#eli5">Rolling Liquidity Vaults</a>, so you can LP with your USDT and USDC and the liquidity will be automatically managed by the vault for a truly passive experience.
Any $MORPHO rewards are distributed to Sense YT holders, since they’re beneficiaries of both Morpho-Aave yield and token rewards. At the end of each epoch, YT holders will be able to claim the $MORPHO due to them based on the number of YTs they held and the amount of time they held them.
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*4IciC4O8vDQUJSn74-P4aQ.png"></figure>Provide liquidity in maUSDC or maUSDT : <a href="https://app.sense.finance/eth-mainnet/pool">https://app.sense.finance/eth-mainnet/pool</a>
Get fixed rates on USDC or USDT : <a href="https://app.sense.finance/eth-mainnet/fixed">https://app.sense.finance/eth-mainnet/fixed</a>
<h3>Rapid integration with 4626 vaults</h3>
maTokens are the first ERC4626-compliant yield-bearing vaults supported by Sense. They were onboarded through Sense’s new ERC4626 adapter factory, which can onboard any compliant asset with a single on-chain function call. No longer do integrations require custom adapters and long development lifecycles. Creating fixed-rate markets on Sense is now as easy as instantiating a new AMM pool on Uniswap.
With the help of a soon-to-be-launched UI, any protocol team &amp; DAO will be free to onboard their yield-bearing assets on Sense. If you are interested in enabling fixed rates in your ecosystem, please join our <a href="http://discord.gg/senseprotocol">Discord</a> and reach out to us!
This integration is another step toward the future Sense is building: our vision is to create decentralized, transparent, fair factories for yield curves and other yield primitives on-chain along with fully decentralized markets for yield discovery.
If you’re excited about this vision and want to help build it, join us. <a href="https://www.notion.so/46803aea92234788b8a4621fa3b46ac2">We’re actively hiring</a> and are always on the lookout for top talent. Join our community on <a href="http://discord.gg/senseprotocol">Discord</a> to get involved, and follow us on <a href="https://twitter.com/senseprotocol">Twitter</a> for updates!
<img src="https://medium.com/_/stat?event=post.clientViewed&amp;referrerSource=full_rss&amp;postId=8775e2229b7f" width="1" height="1" alt=""><hr>
<a href="https://medium.com/sensefinance/usdt-and-usdc-added-for-morpho-aave-8775e2229b7f">USDT And USDC Added for Morpho-Aave</a> was originally published in <a href="https://medium.com/sensefinance">Sense Finance</a> on Medium, where people are continuing the conversation by highlighting and responding to this story.

USDT And USDC Added for Morpho-Aave

<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*CDMiMHsntJXShWPt6I6j5A.png"></figure>The integration with Idle Finance is live and can be accessed through the <a href="https://app.sense.finance/eth-mainnet/fixed">Sense Portal</a>.
The first Idle Finance strategy onboarded to Sense is the <a href="https://app.idle.finance/#/stats/tranches/lido/stETH">stETH Junior Tranche</a>, and its first series matures on March 1st, 2023.
Sense users can now earn fixed rates and trade future yield atop high-yielding Idle Finance strategies, and holders of those strategies can earn extra yield by providing their liquidity to Space pools on Sense and earning trading fees.
Idle’s Junior Tranche stETH strategy gets improved yield versus a normal stETH position in exchange for protecting Senior Tranche holders from <a href="https://docs.idle.finance/products/perpetual-yield-tranches/covered-risks#liquid-staking-protocols">validator key management &amp; slashing risk</a>, the same type of risk that stETH holders are exposed to.
If you want your yield to come from ETH staking, but also want it to be higher than you would get from just stETH, this is for you!
<h3>Incentives for early Space LPs</h3>
Finally, we’re excited to announce an incentive program with Idle DAO.
To encourage early liquidity provision, Idle DAO will reward the first 10 LPs who deposit at least $5k in the Space LP market and hold their funds for 30 days.
Successful depositors will receive a 3% APY boost in $IDLE 🎉
First in, first served.
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*U3XVdhEBaH8v1GlM3G9P0g.png"></figure>Provide liquidity: <a href="https://app.sense.finance/eth-mainnet/pool">https://app.sense.finance/eth-mainnet/pool</a>
Get fixed rates : <a href="https://app.sense.finance/eth-mainnet/fixed">https://app.sense.finance/eth-mainnet/fixed</a>
Trade future yields: <a href="https://app.sense.finance/eth-mainnet/rates">https://app.sense.finance/eth-mainnet/rates</a>
<h3>Rapid integration with 4626 vaults</h3>
The Junior Tranche stETH was onboarded through Sense’s new ERC4626 adapter factory, which can onboard any compliant asset with a single on-chain function call. No longer do integrations require custom adapters and long development lifecycles. Creating fixed-rate markets on Sense is as easy as instantiating a new AMM pool on Uniswap.
With the help of a soon-to-be-launched UI, any protocol team &amp; DAO will be free to onboard their yield-bearing assets on Sense. If you are interested in enabling fixed rates in your ecosystem, please join our discord and reach out to us!
This integration is another step toward the future Sense is building: our vision is to create decentralized, transparent, fair factories for yield curves and other yield primitives on-chain along with fully decentralized markets for yield discovery.
If you’re excited about this vision and want to help build it, join us. <a href="https://www.notion.so/Sense-is-Hiring-46803aea92234788b8a4621fa3b46ac2">We’re actively hiring</a> and are always on the lookout for top talent. Join our community on <a href="https://t.co/6KBRWKZp5C">Discord</a> to get involved, and follow us on <a href="https://twitter.com/senseprotocol">Twitter</a> for updates!
<img src="https://medium.com/_/stat?event=post.clientViewed&amp;referrerSource=full_rss&amp;postId=65c1d717b5b0" width="1" height="1" alt=""><hr>
<a href="https://medium.com/sensefinance/idle-finance-integration-is-live-on-sense-65c1d717b5b0">Idle Finance Integration is Live on Sense</a> was originally published in <a href="https://medium.com/sensefinance">Sense Finance</a> on Medium, where people are continuing the conversation by highlighting and responding to this story.

Idle Finance Integration is Live on Sense

Earn Set-And-Forget Returns as a Passive LP
<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*SQxDMQf34rxS2GKfSqGLGw.png"></figure>You can now provide liquidity in the first ever Rolling Liquidity Vault Space pool in the December 31st wstETH series on Sense Finance!
<h3>What is a Rolling Liquidity Vault (RLV)?</h3>
Because fixed rates have maturities, Space Pool LPs in the past had to remove liquidity from matured pools, and add them to new pools to continue earning trading fees. Now, the Rolling Liquidity Vault (RLV) will automatically create a new series and roll the matured pool’s liquidity into it.
For you, as an LP, that means that your liquidity will be a truly passive investment earning trading fees on your provided asset with no active management until you choose to remove it!
Space Pools already provided an <a href="https://docs.sense.finance/docs/space-pool-performance/#what-drives-space-pool-lp-returns">excellent return profile</a>, but now they also provide an easy user experience to go along with it.
Want to learn more about how RLVs work? Check out our docs: <a href="https://docs.sense.finance/docs/rolling-liquidity-vaults/#eli5">Rolling Liquidity Vaults</a>
<h3>Sense Finance</h3>
We at Sense believe that fixed rates are a critical, missing part of DeFi infrastructure. We also believe that yield stripping is the correct way to approach this, and that it can be built to operate permissionlessly. For that decentralized infrastructure to function on its own, Space Pools have to be designed in a way that makes them attractive for LPs — more attractive than any other fixed rate AMM that has ever been deployed. Part of that is being a truly passive investment!
If you’re excited about this vision and want to help build the future of finance, join us! <a href="https://www.notion.so/46803aea92234788b8a4621fa3b46ac2">We’re actively hiring</a> and are always on the lookout for top talent. Join our community on <a href="https://discord.com/invite/krVGnQgSzG">Discord</a> to get involved, and follow us on <a href="https://twitter.com/senseprotocol">Twitter</a> for updates!
<h3>Further reading:</h3>
To use Sense to LP in Space Pools, buy fixed rates, or speculate on yields: <a href="https://app.sense.finance/eth-mainnet/pool">Sense Portal</a>
To learn more about Sense’s vision: <a href="https://medium.com/sensefinance/why-sense-1c78f21d12b3">Why Sense</a>
To learn more about yield stripping protocols and how they work: <a href="https://docs.sense.finance/docs/core-concepts/#introduction">Sense Core Concepts</a>
<img src="https://medium.com/_/stat?event=post.clientViewed&amp;referrerSource=full_rss&amp;postId=67dd7475923c" width="1" height="1" alt=""><hr>
<a href="https://medium.com/sensefinance/rolling-liquidity-vaults-are-live-67dd7475923c">Rolling Liquidity Vaults are Live</a> was originally published in <a href="https://medium.com/sensefinance">Sense Finance</a> on Medium, where people are continuing the conversation by highlighting and responding to this story.

Rolling Liquidity Vaults are Live

<figure><img alt="" src="https://cdn-images-1.medium.com/max/1024/1*lQ4PhPhsNlzBuCz7H2SHrw.png"></figure>On July 2nd, Sense received a smart contract vulnerability disclosure from <a href="https://github.com/shuklaayush">Ayush Shukla</a> regarding one of our old wstETH adapters (#7, or A7). We quickly validated the issue and began working on a fix. Because of the vulnerability’s nature &amp; its latent impact on Sense users, we deployed a fix to production before <a href="https://twitter.com/senseprotocol/status/1554937678885421060">disclosing the bug on Aug 3rd</a>.
Furthermore, <a href="https://twitter.com/senseprotocol/status/1554937678885421060">we airdropped roughly 11 ETH to Sense PT, YT, and LP token holders</a> in proportion to their exposure to the bug, so if the bug was exploited before they migrated funds, they would still retain the value they expected from their positions. In other words, all user funds that even had the potential to be exposed to the old adapter (#7) have already been compensated in full.
All funds are SAFU.
Users can continue to safely earn fixed rates, go long/short future yields, and provide liquidity on Sense Space. This post describes the bug, its impact, and our resolution.
<h3>The bug</h3>
We launched a wstETH adapter without ensuring price feed liveliness. At the time of development and launch, the stETH price was at par (1 stETH/ETH), so it was especially difficult to detect the outdated feed without explicit liveness checks. Not having these checks was our mistake.
By the time we discovered its state, the Sense Protocol already digested stale price information, exposing some users to unexpected risk/return profiles.
While stETH/ETH was less than 1, an actor could have updated Lido’s safe_price_value() price feed, causing an immediate drop in Adapter #7’s <a href="https://docs.sense.finance/docs/smart-contracts/#adapter">scale value</a> to function like a negative interest rate.
As of Nov 23rd, the <a href="https://etherscan.io/address/0xAb55Bf4DfBf469ebfe082b7872557D1F87692Fe6#readProxyContract">stETH price feed</a> is still stale, hovering around 0.999 ETH, so this risk is minimized for outstanding stakeholders of Adapter #7, but let’s dive into its potential impact, assuming stETH was still trading below 1 stETH/ETH:
<h3>Context &amp; Impact</h3>
The wstETH Adapter #7 (A7) is a vanilla yield-stripping adapter with WETH as the underlying. PT holders expect a fixed yield in underlying terms, so the adapter’s scale function considers the stETH exchange rate to give them more wstETH and counteract stETH price risk. The amount of wstETH given to PT holders is capped by the amount in Sense, so a fixed yield in WETH can’t be promised in all market environments. However, this existence of stETH price risk wasn’t advertised to Sense users, hence we performed the airdrop, as described above.
When we discovered the issue, the oracle hadn’t been updated from its ~1 ETH price for over a year. If the price remained stale forever, there would be no problem, and Sense could continue using the feed as is — however, the problem is that the function to sync the feed’s price to the current moment is open and permissionless, so anyone can call it at any time.
Thus, if we didn’t call the function ourselves, there was a risk somebody else would, at a time of their choosing. This would cause an immediate jump down in the scale value, impacting the following users of Adapter #7:
<ul>
<li>YT holders: all holders could collect up to maxscale . Once collected, however, they would no longer be able to collect until the exchange rate is restored or the yield accrued from wstETH was high enough.</li>
<li>PT holders: they would receive more wstETH at maturity (when compared to an stETH underlying adapter), but would receive less value in WETH terms because YT holders collected from a stale price feed when YT holders shouldn’t have been able to collect.</li>
<li>LP holders: the price of PTs goes up because the <a href="https://docs.sense.finance/docs/core-concepts/#sense-space">Space Pool</a> now thinks the value of wstETH has gone down, per the drop in scale.</li>
</ul>
<h3>The fix</h3>
We updated the adapter’s underlying from WETH to stETH by removing the price feed integration, redeploying the wstETH adapter, and onboarding it as <a href="https://etherscan.io/address/0x6fc4843aac4786b4420e954a2271be16f225a482/advanced">Adapter #8</a>. With this change, all users are aware of and exposed to stETH price risk.
Finally, we reached out to the Lido Dev team and received their acknowledgment of the stale price feed before publishing this post mortem.
<h3>Final thoughts</h3>
Security is our highest priority at Sense. The Sense Protocol has undergone various forms of QA, such as unit/integration/manual testing, fuzz testing, and <a href="https://docs.sense.finance/developers/security/#audits">multiple 3rd party audits</a>.
In addition, we employ several internal dev processes (inspired by Nascent’s <a href="https://github.com/nascentxyz/simple-security-toolkit">simple security toolkit</a>) to increase our own confidence in the features we release. To catch post-launch bugs, we will continue to have a public <a href="https://immunefi.com/bounty/sense/">bug bounty on ImmuneFi</a>, and we have plans to Formally Verify future versions of Sense.
We want to thank <a href="https://github.com/shuklaayush">Ayush</a> once again for disclosing this vulnerability and working with us to understand its impact. If you’re a whitehat, check out our <a href="https://immunefi.com/bounty/sense/">ImmuneFi Bug Bounty Program</a> and help secure the Sense Protocol.
<img src="https://medium.com/_/stat?event=post.clientViewed&amp;referrerSource=full_rss&amp;postId=c70d648bef89" width="1" height="1" alt=""><hr>
<a href="https://medium.com/sensefinance/post-mortem-stale-steth-price-feed-in-a7-c70d648bef89">Post Mortem: Addressing the stale stETH price feed in A7</a> was originally published in <a href="https://medium.com/sensefinance">Sense Finance</a> on Medium, where people are continuing the conversation by highlighting and responding to this story.

Docs

Blog

We're Hiring

Bug Bounty

Adding
Dimension
to DeFi

Audited By

How Sense Works

Use Cases

Backed By

Meet the team

Advisors

Blog

FAQ

Where do the fixed rates come from in Sense?

Is there a lock up?

Do I lose my yield if I withdraw early?

Am I exposed to Impermanent Loss?

Why are my positions 'Deprecated' on the Sense Portal?

Has Sense been audited?

What are the risks?

Is the Sense Protocol or Sense Finance custodial?

Adding .css-1js90yu{display:block;}@media screen and (min-width: 544px){.css-1js90yu{display:none;}}Dimensionto DeFi

Audited By

How Sense Works

Use Cases

Backed By

Meet the team

Advisors

Blog

FAQ

Where do the fixed rates come from in Sense?

Is there a lock up?

Do I lose my yield if I withdraw early?

Am I exposed to Impermanent Loss?

Why are my positions 'Deprecated' on the Sense Portal?

Has Sense been audited?

What are the risks?

Is the Sense Protocol or Sense Finance custodial?

Adding
Dimension
to DeFi