Development Medium Update

5 min readNov 12, 2021

With this article we would like to recap all the important developments that have been happening ever since the Lixir Finance app went live. It’s been an incredible journey so far and we are just getting started. First and foremost we would like to thank everyone involved — from the early supporters to the newcomers, from our LPs to our token holders: we couldn’t have done this without you, so we thank you for your amazing support!


A historical milestone for both the community as well as the team was reached on the 20th of July. The long-awaited Lixir app was finally live. After many weeks of hard work, a few delays and a restless community, this day was a turning point for many.

The goal of the Lixir team is to create the safest, most user-friendly and profitable platform for UniswapV3 liquidity provision. To do so, the team had to pioneer a new and deeply technical approach to achieve what they set out to solve. The Lixir app is the platform where all this is finally coming together and becoming a new standard for capital efficiency.

Liquidity migration & influx

On the 22th of July the Uniswap liquidity for Lixir was migrated from UniswapV2 to UniswapV3. Since 100% of the liquidity in the V2 pool was owned by the protocol itself, there is no liquidity left in the V2 pool. Additionally to the liquidity migration, another $150.000 worth of liquidity was added to the V3 pool.

Vault Migration

Since the launch the team has been busy analysing the data of the V1 vaults. Based on this data the strategies were tweaked a bit and some minor bugs were patched with the release of the V2 vaults. On the 12th of august the upgraded Lixir vaults went live.

Launch of the initial governance structure and first LIP

After the initial LIP discord discussion, the first LIP was launched on snapshot. This first LIP was launched by the Lixir team itself. In short this LIP led to Lixir launching a farming and governance model similar to Curve Dao. The full LIP1 can be read here:

The Snapshot voting started on the 27th of August and ended on the 3th of September. LIP1 concluded with a unanimous vote containing 293k lixir tokens voting in favor. 34 lixir holders voted in total.

Completion of the Certik audit

The Lixir team has protocol security as its highest priority. As such, several audits have been done and more already planned for the coming months.

On the 12th of September the Lixir audit by CertiK was completed. The report of the audit came back positive. Only a few informational and minor findings were reported.

Launch of Farming and Staking

On the 30th of September we were finally able to launch our farming and staking platform for Lixir. This combined with the launch of new vaults. These implementations were integrated as per LIP-1. With the launch of the new vaults some minor issues have now been fixed. As for farming & staking, the most important points of this integration are:

  • LIX farming emissions for every vault
  • LIX can be timelocked for veLIX in order to boost one’s farming rewards by up to 2.5x
  • veLIX rather than LIX will now represent one’s voting power in governance matters

Lixir buybacks

On the 3rd of October we started doing daily $LIX buybacks. Since we have no doubt whatsoever that we will soon be self-sustainable through the initialized performance fee and increased TVL, we’d like to show this commitment by initiating $LIX buybacks in anticipation of the $LIX distributions that will happen when we launch staking for revenue in the new UI.

User interface rebrand

Another long-awaited development that happened in the past month is the rebranding of the website. The new website gives the project a more professional look and is also much more pleasing to the eye. Make sure to take a look if you haven’t already:

Lixir NFT series

The past month also was the start of the Lixir NFT series. These very special NFTs represent milestones and moments that we had together as a community! The first 2 NFTs have already been created and one has already been given away to one of the $LIX stakers: “Team Pool Party“, NFT #1 celebrating our launch with a Lixir pool party!”

Lixir app User interface rebrand

On the 28th of October the UI rebranding for the lixir app also went live. With this launch, the whole website has now been rebranded to a more attractive and professional UI.

Over the next weeks we’ll keep expanding the UI with additional tools like a staking calculator, personal dashboard and analytics page. We’ll also introduce staking for revenue and gradually transform the UI into its final form.

Final Haechi Audit

On the 28th of October the final Haechi Audit had also been completed. Together with our audit with CertiK, we now have 2 audits with two auditing firms. We are planning a third audit with Peckshield later this year, and aim to do a 4th somewhere in 2022.

You can check out the audit here:

Collaboration with Immunefi

On the 4th of November we announced our collaboration with @immunefi. This in order to formalize and expand the reach our existing Bug Bounty Program. Lixir Finance will pay out up to $200.000 for tips on critical weaknesses in our smart contracts.

InsureDAO partnership

On the 5th of November we announced our partnership with InsureDAO. InsureDAO is the first DeFi insurance protocol to provide insurance policies for Lixir Finance. Although we have security as our top priority, the importance of decentralized insurance has become abundantly clear with recent exploits in the space.

Through InsureDAO, users will be able to pay a premium for an insurance policy covering Lixir’s smart contracts and be eligible for a payout in the event a bug or exploit results in a loss of user funds. Besides taking out insurance policies, users will also be able to mine $INSURE, InsureDAO’s own governance token, when providing liquidity as an underwriter for whitelisted protocols.

As you can see, we have been very busy over the last few months. A lot more work is going on behind the screens to get Lixir Finance to where it belongs, the #1 protocol for automated and optimized liquidity management, and we’re truly excited for all that has yet to come!

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