How Turtle Works With Partner Protocols
Last updated
Last updated
Vault aggregators are parasitic, farming, harvesting, and dumping protocol emissions. They drain liquidity, create selling pressure, and undermine protocols they integrate with. Additionally, they introduce counterparty risks, technical debt, and gas fees, and are not designed for point systems.
In contrast, Turtle Protocol fosters a symbiotic relationship with Turtle Partner Protocols. The goal is to support and accumulate large token allocations in emerging protocols. TurtleDAO contributors work to structure liquidity pools, improve liquidity utilization, address security concerns, and help attract and retain TVL. Turtle Protocol is designed to be flexible, allowing for various types of contributions, such as points, for participating in large airdrops on behalf of Turtle users. Turtle also supports emissions, epoch/season based rewards, swaps and much more.
Turtle is a protocol-agnostic distribution layer that leverages collective due diligence and bargaining power to establish sustainable liquidity partnerships across DeFi. These alliances provide Turtle LPs with enhanced yield opportunities while addressing and mitigating counterparty risks.
Turtle's process for forging liquidity partnerships follows a series of steps to ensure alignment with our core values of transparency, security, and mutual benefit:
Seamless API integrations
Proposal and Staking by Members:
● Users propose partnerships with innovative protocols they're interested in and stake their tokens to show support for deploying liquidity.
Demand Assessment:
● Turtle representatives evaluate the level of interest among members to deploy liquidity into the proposed protocol.
Partnership Proposition:
● Representatives approach the protocol with a partnership offer, leveraging the collective bargaining power to negotiate enhanced yields.
Audit, Security Status, Needs and Evaluation:
● Turtle LPs and auditors perform a detailed technical and financial review of the protocol's codebase and economic model to identify any potential risks.
● During the review, we will assess the security needs of the project and guide the project toward a path of greater security.
Security and Risk Mitigation:
● In collaboration with the protocol, Turtle establishes best security practices and addresses possible vulnerabilities.
Integration and emissions:
● Following the finalization of terms, the Turtle Protocol integrates the protocol, enabling LPs to start receiving emissions for their deployed liquidity.
Settlement:
At the end of each epoch, Turtle Partner Protocols send agreed-upon emissions to TurtleDAO, which distributes them to Turtle LPs based on the achieved multiplier and farmed emissions.
If Turtle Partner Protocols qualify for Turtle emissions, TurtleDAO allocates their pro-rata portion accordingly.
This structured approach ensures Turtle partnerships are established with due diligence and reinforces our commitment to transparency, security, and mutual benefit. Through seamless networking, deal-making, collective security due diligence, self-regulation, and collective bargaining for yield enhancement, Turtle is redefining the standards of liquidity syndication in DeFi.
