1/ AMMs dominate 95% of volume on top DEXs but hit limits due to liquidity lock-up, restricting DeFi growth. Bootstrapping LPs is tough. Solutions like bribes/rewards exist, but institutional MM liquidity still favours CEXs. Enter Fiet Protocol by @usher_web3.

Fintechs are recognising the power of stablecoins in facilitating payments. However, local non-USD stablecoins remain overlooked, primarily due to the lack of transparent markets. With such markets, regional issuers will become conduits for new FX rails.

Distributed Ledger Technology helps keep track of who owns money and things. With RiscZero, private information is handled better. Reveal only what's necessary while making sure data from the internet is consistent with what is pushed on-chain to manage (m/b/tr)illions.

Blockchains excel at tracking fractional ownership of capital and assets. With the IC, we expand participation in providing reserve liquidity to decentralised finance, allowing blockchain accounting to cover more of the world's liquidity.

RT @ryan_soury: Cryptography secures every interaction with blockchains. However, for standard APIs, keys are still generated on behalf of….

Did someone ordered a yappucino? ☕️. Spin a yarn 🧶 with us as we dive into the IC, secure data, cryptography, and more.

Interested in chatting with it yourself? Reach out via Discord.

Tools used: Grok to assist in prompting GPT.

"Fiet Explained Like You’re 5". Imagine you have a big jar of cookies 🍪 at home, but you don’t want to bring the jar to school because you might lose it. But your friends at school want to trade snacks with you, and they trust you if you can prove you really have the cookies at.

We crafted an AI Guide for our work using documentation as context, and it's performing quite well! 😅

13/ Thanks for reading! Follow Usher Labs on X ( @usher_web3 ) for Fiet updates.

12/ Changes are coming in the months ahead. We're evolving to redefine liquidity accounting on blockchains. Once Fiet is ready, we'll guide you to where you can enjoy low slippage, whether in new markets or with the tokens you know and love.

11/ Fiet v1 launches with markets on @arbitrum Stylus. Markets trade directly on @Uniswap v4. Shoutout to @AtriumAcademy for the hookathon. Usher Lab's zkTLS tech utilises ICP @dfinity and @RiscZero for powerful public/private verifiable compute and cryptography.

10/ The accelerator challenged us to refine Fiet’s scope while focusing on customers. Mentors opened our eyes to the market, guiding us despite strategic pivots. S/o to @eunika_sot @katie_lundie @Scott_0x and @drcryve.

9/ Fiet began as an idea. Years of research in data security infrastructure and the intersection of blockchains and FX led us to realise: we can help bridge TradFi and DeFi. Participating in the @OVioHQ cohort allowed us to rapidly iterate from idea to MVP.

8/ AMMs like Uniswap and Pancakeswap have entered an era of extensibility, enabling custom logic to modify pool operations. Fiet builds on this to hide complexity from traders. This way, your ETH/DAI trade costs less via Fiet's capital efficiency.

7/ Fiet introduces the concept of "virtual" liquidity to AMMs. Based on market demand, MMs settle pool sides or withdraw excess liquidity, optimising capital use.

6/ Usher Labs' zkTLS tech powers the Fiet, tracing liquidity: where it is, who owns it, its currency, is it available for reuse for on-chain?. zkTLS proofs ensure liquidity is real, and incentives guarantee settlements only when needed, keeping capital efficient.

5/. Fiet is a protocol for MMs re-use verified liquidity reserves for on-chain AMM markets. 1. Traders enjoy low-cost trades via capital efficiency.2. MMs earn through DeFi yield.3. Fiet opens new markets for Crypto-FX, RWAs, etc.

4/ So, how can we enable MMs, with big active liquidity in CEXs, banks, etc. to make markets on-chain?. How do we hold the bag in USDC, and settle to AMM in Peso, only when traders demand the Peso?.

3/ MMs hate IL. It's like sinking with the ship despite having a super-fast lifeboat. Retail dominates AMM LPs, seeking either safety or high yields, unconcerned with the potential in on-chain markets for tokens they care less about.