L. A.A.S Event

6 min readAug 10, 2022

L. A.A.S Event：https://medium.com/@cian-app/l-a-a-s-event-4db3221a2766
Tutorial for L.A.A.S. Event：https://mirror.xyz/0xFC4dfc1BA646296540F66298495D171513AAe618/aEEjS71jg9P4AVJ5KuUJSOaMqwUZzqms_AWbWbaZHcY

Overview

To celebrate our recent partnership with Lido, and further catalyze the adoption of stETH, we’re excited and honored to launch the LAAS event.

Among all ETH staking derivatives, Lido’s stETH has firmly cemented its reputation owing to its rich ecosystem and large liquidity. However, stETH’s rapid expansion comes with a share of complexity, to which CIAN believes automation and improved composability are going to strengthen stETH’s application scenarios and ecosystem. This, in turn, will reinforce its stability & security as the Merge approaches.

To that end, CIAN is announcing the LAAS event in which CIAN & LIDO co-launches CIAN’s first automated strategy for ETH liquid stakers. The purpose of this event is to help ETH/stETH holders identify and utilize the arbitraging opportunities from short-term stETH-ETH price deviation through advanced & easy-to-use automation tools provided by CIAN. Hopefully, the same automation tools will also improve stETH’s price stability.

Market Pulse

Despite a rough Q2 originated by the de-pegging of UST①, followed by the sudden selling pressure caused by bETH’s backwash, without mentioning 3AC & Celcius withdrawal resulting in a classic liquidity crunch②, stETH has been standing strong, slowly but surely, climbing back to its 1:1 ratio.

Whilst stETH is technically not required to trade on par with ETH, stability is optimal to ensure the soft transiting across various investing application scenarios, which ultimately helps to avoid deleveraging spirals as seen recently.

LIDO and CIAN have been working conjointly to come up with multiple innovative automation tools for ETH/stETH holders to manage and optimize their positions & risks in various yield strategies for a better return. In this event, we will launch the first automation tool for capturing and amplifying the arbitrage opportunities from ETH-stETH pricing deviation.

Introduction to CIAN’s automation primitives

CIAN is a decentralized blockchain automation tooling platform rendering swift access to onchain composability. Through large-scale integration and advanced automation, CIAN is defining a set of decentralized blockchain automation primitives, which:

Turn complex manual executions of typical onchain tasks/strategies into a simple 3-step definition process;
Allow users to apply optimization tools on top of their position(s);
Allow users to implement risk management strategies on top of their position(s).

In respective order, CIAN aims to:

Reduce up to 80% of the users’ manual operational complexity;
Increase users’ capital efficiency by up to 60%;
Protect users’ position(s) against risks.

Leveraged stETH/ETH Arbitrage strategy

Co-launched by CIAN & LIDO, this strategy, realized through CIAN’s easy-to-use automation tools, allows ETH/stETH holders to utilize and amplify the arbitraging opportunities from short-term stETH-ETH price deviation. As the name suggests, the strategy is an active one — users are free to tune multiple parameters at all times.

The return of the strategy is largely impacted by how a user sets and adjusts the parameters. A ‘’stop-loss’’ function is also available to automatically unwind and release users’ leveraged position.

More in-depth details about the strategy can be found in this article

Event Architecture

Since CIAN and its leveraged arbitrage strategy are new to the ETH/stETH ecosystem, users will have the liberty to participate in 2 different ways: through a simulated system and/or real tool. This design is meant to acclimate stETH/ETH holders to this powerful, yet uncertified tool.

Simulation Competition
CIAN is providing a system that simulates the functioning of the real automated strategy. It allows users to freely build intricate position(s) with the intended leverage ratio in a real-time simulated scenario. This way,
(1) we could gladly embrace the regular investors whose funds are too small to run the decentralized strategy in their dedicated CIAN smart contracts for automation that incurs high ETH gas costs.
(2) users could get familiar with the platform, battle-test its fundamentals, and learn how to fine-tune the parameters to increase their earnings while taking no financial risk;
Strategy Adoption Award
For users who feel confident and desire to start earning real profits, we created a reward system to further incentivize their financial engagement.

Event Tasks

Basic tasks (mandatory)

Follow CIAN & LIDO on Twitter
Join CIAN on Discord
Re-Tweet the L.A.A.S Event contents on Twitter
Participate in at least one of the following activities:
A. Simulation Competition
B. Strategy Adoption Award
Share Competition Ranking (Simulation)
Fill out the final form (8.22–8.28)

Advanced tasks (optional)

Provide product optimization suggestion(s)
Being an active member in the community
Promote CIAN’s Automated Strategies (stETH leveraged arbitrage)
Provide visual material, guides, translated articles
Discover product vulnerabilities (If important vulnerabilities are found and reported, CIAN will ensure proper compensation in return)

Reward system

Executive Pass
CIAN’s strategies will be offered for free during the promotional period (3 months), after which we will start charging small fees. Users holding an executive pass will be able to utilize any implemented strategies for free, forever!

NFT
A total of 500 NFTs can be rewarded to participants who complete all mandatory tasks. The NFTs will later act as CIAN’s airdrop target. The higher the rarity tier, the bigger the airdrop. The 5 tiers of rarity will be delivered upon the following classifications:

Each participant can earn up to 1 NFT per event. If they participate in both activities, CIAN will automatically give them the highest reward among their 2 results.

About LIDO

Lido is the leading liquid staking solution — providing a simple and secure way to earn interest on your digital assets. By staking with Lido your assets remain liquid and can be used across a range of DeFi applications, earning extra yield.

1. Staking pool. Protocol to manage deposits, staking rewards, and withdrawals. A separate one for every supported network.

2. Unlike staked assets, the Lido st[token] are freely transferable instead of locked as in the case of native staking. Lido lets users operate with staked assets to gain yield on top of yield by leveraging collateral, lending, yield farming, and other kinds of Defi protocols.

3. DAO. Lido liquid protocols management entity, responsible for picking node operators, configuring the protocol parameters and much more.

4. Node Operators. entities that manage a secure and stable infrastructure for running validator clients for the benefit of the protocols. They’re professional staking providers who can ensure the safety of funds belonging to the protocol users and correctness of validator operations.

About CIAN

CIAN is a decentralized automation tooling/utility platform. Through large-scale integration of blockchains/protocols and advanced automation, CIAN is defining a set of automated primitives that turn complex manual executions of typical onchain tasks/strategies into a simple 3-step task definition process for no-code users. CIAN’s objective — 80% reduction in operational complexity, up to 60% increase in capital efficiency.

When a user is running CIAN’s automation tools, his funds always remain under his full control in his smart wallet and selected protocol(s).

Special efforts are devoted to CIAN’s strategic focus — Liquid Staking Tokens (e.g. stETH, sAVAX etc.). CIAN will keep designing profitable yield strategies and automation tools to ensure the intrinsic growth of liquid staking.

Reference

Fig1: https://www.coingecko.com/en/coins/lido-staked-ether/eth