unshETH Labs was founded in January 2023 to further decentralization of the Ethereum network via the creation of novel LSDfi primitives. The unshETH Labs team is responsible for the development of the unshETH protocol, and serves as one of the stewards of the nascent LSDfi space, which it is actively working to grow.
unshETH is a transformative element within the Ethereum (ETH) ecosystem, designed to bolster its resilience, accessibility, and resistance to censorship. As a new DeFi primitive, unshETH encourages validator decentralization by stimulating competition among ETH liquid staking protocols, with the ultimate goal of delivering the best ETH staking experience to millions of users. The mission of unshETH is straightforward: incentivize decentralization by lowering liquidity costs for liquid staking protocols. Through incentive engineering, unshETH seeks to distribute capital across the Liquid Staking Derivatives (LSD) ecosystem in a way that prioritizes validator decentralization. Launched in February 2023, unshETH paved the way for a new category of DeFi protocols, known as LSDfi.
LSDfi represents a novel category of DeFi primitives that are constructed atop LSDs. The purpose of LSDfi is to foster markets focused on staking yields, validator monopolies, slashing risks, and even validator censorship. LSDfi paves the way for various applications including validator decentralization mining, validator dominance options, interest rate swaps, yield speculation, and efficient risk pricing. These mechanisms enable users to leverage the unique properties of LSDs, and can also be employed to enhance healthy competition among validators and prevent the monopolization of the consensus layer.
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🚀 Most Creative Integration with unshETH - $3000
Develop inventive applications uniquely integrate with unshETH, bringing out its full potential and versatility. Leverage unshETH within novel DeFi constructs or existing DeFi platforms in a way that creates new and useful user experiences.
🤖 unshETH Liquidator Bot - $1000
Develop a bot that automates the process of converting unshETH back into ETH by redeeming into the underlying LSDs and finding the best place to sell them for maximum returns.
💱 vdAMM Arbitrage Bot - $1000
Create a bot that exploits arbitrage opportunities between the vdAMM and other exchanges such as Curve, Balancer, etc., thereby generating profits from market inefficiencies.
To be eligible for any of the prizes, your project must integrate with the unshETH platform and contribute to the ecosystem in a meaningful and innovative way. We will only accept projects that meet this requirement.
Please refer to the unshETH documentation for more information on how the protocol works and how to integrate: https://docs.unsheth.xyz/