Stacks Feature: Deep Lake Finance

I am bullish on Stacks, this is known. It follows that I spend a lot of time in the ecosystem. So when I first heard about Deep Lake Finance I endeavored to learn a bit more. First I made sure to join their Discord and register for early testing. A couple of weeks later this I was able to arrange an interview with the founder of the project, Abdel Harraz. This is a very cool, technical, and focused application. The protocol has this in common with its creator.

I have only recently begun the testing (its been busy on the homefront), but I am liking what I see. Without further ado, lets get to it.

Deep Lake Finance: The App I Have Been Waiting For

For this I have to take you back to my pre- Stacks days. I started trading perps on Bitmex, and fell in love with it. After getting exposed to DeFi and decentralized exchanges, I have always wanted to see my love of margin trading paired with a DEX. There are many projects on Stacks that I am giga bullish on, and many of them are of the DeFi variety. I love trading, as do many other people. I can easily see how Deep Lake Finance would bring a lot of eyes to the Stacks ecosystem.

Not just for degens

There is something for everyone here. For starters The Deep Lake Finance Protocol will reward liquidity providers. You don't need to place a 5x leveraged long on Bitcoin at $20,424 (I did, on testnet), you can simply provide liquidity through a DLC contract and earn a percentage of trading fees.

In terms of the tech, I am very impressed. abdelghafour.btc is a giga brain with an impressive list of accomplishments in the Web2 world. Now he has his sights set on Web3 and he came out swinging.

A Feel for the App

The App looks like a trader would expect it to look. Everything is still in early testing, but the UI is good and familiar. I was able to place my long after getting some STX in testnet and exchanging it for IUSD. What is of note is the speed at which this transpired.

If you have used Stacks, then you are familiar with the speed of Stacks. Well, Abdel built his own subnet. The transaction is as instant as it was in my Bitmex days. If you dont' know much about subnets, they are coming to Stacks. The speed improvement cannot be overstated. Well, lets just say I am bullish on subnets. Abdel also built his own Bitcoin price oracle. This allows the protocol to know Bitcoins price at any given time.

If this is what layers built on top of Stacks are going to look like in the future.... Suffice to say the market won't know what hit them.

The Takeaways

If this sounds like a good time to you go to Deep Lake Finance and get on the waiting list. Go join their Discord, and see how everything is coming together. I still have my testnet longs open:

The thing I keep coming back to is just how bullish this is for Stacks. I believe that I am a reasonable metric to determine whether or not someone outside of the Stacks ecosystem would come to Stacks just for an app. I can say with 100% certainty that this applies to me. People who understand Bitcoin, but aren't maxis, will come use this after they hear about it in the bull market. Some maxi's will never break their conviction. To each their own I say. If I was still in ETH, I would definitely use this.

This is only one of many reasons to come to Stacks, DeFi on Bitcoin is going to be a big deal. We have amazing NFT markets, the Ryder device, BNS domains, and this is only scratching the surface. This is occurring in a small community, in a bear market. I could go on. The point is this is the most bullish I have been on Stacks. The overall market is bearish, but it won't be forever. We are sitting in an ecosystem rich with explosive potential during a Bull market, savvy?

It should go without saying that any of this constitutes financial advice right? I am getting new readers and I would encourage you all to read as much of my older stuff as interest you. The theme should be clear, don't do what I do. I do this because I love it, not because I am an expert.... I am not.

On a side note, if you're a new reader...welcome to my Sigle blog. I hope you stick around, I love crypto, but I write about some other things as well.

Thanks for reading, as always. A like, follow, and retweet goes far. Follow me on Sigle on your way out and you will be able to look forward to newsletter content here in the near future.