Themis Pro Will Be Officially Launched, What Is Brewing in the 3 Iterations?

April 3rd, 2023 at 1:58 pm UTC · 7 min read

Themis Pro Will Be Officially Launched, What Is Brewing in the 3 Iterations?

The Themis Pro, which has been hotly discussed in the community recently, is finally coming! On April 2, the new version of Themis official website was launched, and it was announced that Themis Pro will be officially launched in late April.

Themis Pro is a new generation of decentralized crypto asset spot andderivatives aggregation trading platform based on the Ve(3,3) model built on FVM. Its product iteration is very fast, and the latest version will be released in late April. Two versions, Themis V1 and Themis V2, have been launched before.

Most DEFIs are attracted to pursue short-term incentives. Themis pursues the sustainable development of products, and it focuses on creating a sustainable model that continuously creates value for users. From V1 to V2, to the latest Themis Pro, every iterative update is a continuous evolution and upgrade.

Below we sort out the origin of the Themis protocol and the product iteration process in order to have a more comprehensive understanding of Themis Pro.

Themis V1 Protocol Liquidity Supported

The core members of the Themis protocol team are from the cypherpunk organization in Stuttgart, Germany. This is an anonymous team that advocates technical freedom and pursues the spirit of craftsmanship. For the belief in their hearts, they have never stopped trying to solve DEFI problems.

The Themis protocol was conceived in early 2022 and possibly even earlier. At that time, DeFi TVL has continued to fall from the peak of 165 billion, and liquidity has dried up. The collapse of LUNA, the liquidation of bad debts of the Three Arrows revolving loan, and even the thunderstorm of FTX may have already begun. In order to break the plight of market liquidity depletion, the young Themis team began to design a liquidity solution with valuable support.

After several months of closed development, Themis V1 will be officially launched on the BSC chain in April 2022.

Subsequently, under the careful operation of the team, the project developed rapidly. By November 2022, the Themis vault held more than US$6,400,000 in assets, of which USDT: US$1,800,000; THS-USDT LP: US$4,600,000.

The biggest achievement of Themis V1 is the design of a value-based liquidity framework agreement.

Themis V1 provides the core mechanism of the original generation $THS treasury supported by 1 dollar. Each THS in the treasury is not made out of thin air, but is supported by 1 dollar. That is, there are as many dollars as there are THS in the treasury. deposit.

We can see that Themis V1 adopts a minimalist style in model design, which can be summed up in one sentence as the minimum support price of $THS minted by the protocol is $1. Under the support of 1:1 beauty, THS undertakes the functions of Themis ecological value scale, circulation means, etc., reflecting the real cash value.

The liquidity in Themis V1 is managed by the Themis protocol, and the THS token is the proof of liquidity ownership. The treasury mechanism of Themis provides the value cornerstone for the long-term development of the protocol and is the fundamental support for the protocol’s liquidity.

Themis V2 Solves Inflation Problem

Inflation is an unavoidable problem that develops too fast, and this situation also appeared in the early Themis V1. In the early days of the Themis project, various measures were conducive to attracting sufficient funds into the treasury fund pool. Because of the existence of arbitrage space, users were willing to use funds to mint $THS in the treasury, resulting in the rapid expansion of Themis treasury.

Themis V2 is an optimized version, which will be launched in January 2023, mainly to solve the inflation problem accumulated by the agreement, so as to maintain the stable and long-term development of Themis ecology.

We know that there are many ways to curb inflation, including a basket of measures such as controlling money supply, increasing users, price adjustment and structural adjustment. Themis V2 comprehensively adopts the above measures to carry out structured automatic adjustment. It has added the contribution token $SC participation mechanism. In Themis V2, in order to obtain THS with medium and high returns, $SC needs to be burned, and SC needs to be obtained by inviting users through community evangelism. Community evangelism invites users to introduce new users to the system, and medium and high-yield burning SC uses price means to control the output of THS.

Let’s review that Themis V2 is not a complicated version upgrade, but it solves the inflation problem of the protocol and fixes the security risks caused by the rapid development of Themis.

Themis Pro Market Strategic Shift

Compared with the V1 to V2 versions, Themis Pro version is a leap-forward iteration, a further upgrade of the economic model, and a further improvement of the ecosystem. It has developed from a simple DeFi protocol to one that provides convenience for users and continuously creates value. platform.

The Themis team realized that this is not a simple product optimization, but a complex architecture upgrade. In order to shape the brand, this version was renamed Themis Pro.

The Themis team is optimistic about the Filecoin ecology. With the launch of FVM, its ecological value will gradually increase. After repeated demonstrations, the team made a strategic decision to deploy Themis Pro on the FVM public chain.

Filecoin has entered the FVM ecological era. With the timely iteration and ecological development of FVM, more and more Ethereum applications will turn to use FVM, and the deflation demand of FIL will increase, because more FIL will be used for locking, payment of GAS fees, pledge, etc. This situation will provide good support for the price of FIL, and the ecosystem connected to it, such as Themis Pro, will also benefit from it.

In the Themis Pro version, the Ve(3,3) model will also have a positive feedback effect on the FVM ecosystem. The Ve(3,3) model has a compound interest mechanism and high APY returns. Under the current market conditions, this model is easy to produce a siphon effect, attracting a large number of blue-chip encrypted assets to inject Themis, and quickly establish FVM’s largest FIL trading pool.

In terms of protocol upgrades, Themis Pro has introduced a treasury fund pool mechanism, which consists of a basket of highly liquid blue-chip cryptocurrencies, which guarantee the liquidity of the pool. The treasury fund pool implements a self-regulation mechanism, realizes the function of automatically balancing the pool tokens, cooperates with the oracle machine price discovery mechanism, and can automatically encourage liquidity to join when the liquidity is insufficient.

In addition, Themis Pro also introduces the SC token mechanism. Specifically, under the Ve(3,3) mechanism, $SC can be burned to obtain high-yield THS. Staking $THS to obtain medium and high-yield needs to burn $SC, and the pledged income is accelerated. Release and burn SC tokens, pledge $SC to get veSC rewards, veSC has the right to distribute 20% of the platform’s profits, and use veSC to participate in bribery to get rewards.


Now we can look back again. Themis Pro had inflationary flaws in the early days, but iterated continuously on the product and actively communicated with the community, and finally eliminated bubbles and loopholes in the process of moving towards the growth flywheel (rather than the reverse death spiral).

In the DeFi world, innovation is especially important, and even a little revolution can bring huge gains. LP liquidity mining seems to be an extremely common model now. When Sushiswap was the first to eat crabs, it achieved great success. The DeFi protocol will only become more and more complex, which is visible to the naked eye, and technical capabilities are crucial.

Themis Pro has always been on the road of innovation. Each technical iteration contains many innovative points, including optimizing the Ve(3,3) model, liquidity management of the treasury fund pool mechanism, and price discovery mechanism.

The iterative evolution of Themis Pro truly embodies the characteristics of web3, and each iteration is based on promoting the development of the community as the starting point, rather than the team and project side. All community members create a platform, and the platform belongs to every individual in the community, not a certain group or a small group of people.

Themis is committed to becoming a sustainable DEFI ecosystem. Iteration and community are the source of vitality for crypto products. Themis Pro is not the ultimate version. At the same time, we look forward to more innovative protocols to inject more vitality into the entire DeFi field.



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