"It does not cost anything to lie on the internet."

Let me address some of the points raised about the ETH-USDC pool on Fluid DEX.

First of all, it's important to note that there is nothing wrong with the DEX's functionality - it is working as expected and like any other DEX.

DEX v1 utilizes a single-range order that is set by governance. While this approach works very well for correlated pairs, volatile pairs require more active management based on prevailing market conditions.

The performance of DEX v1 for ETH-USDC would be the same on, for example, Uniswap if someone chose the same range and rebalancing conditions. If that user lost money, they wouldn’t claim that Uniswap is broken - they would say their strategy was flawed. As users on Fluid have experienced excellent results with our correlated pair pools, they assumed (and this is our fault for not communicating it clearly) that providing liquidity to volatile pair pools would guarantee profits similar to those seen with correlated pairs. They did not fully understand that sharp directional volatility can result in losses.

The issue is that DEX v1 lacks flexibility, which is a significant disadvantage for volatile pairs. The pool has a single auto-rebalancing range, and all configurations are determined by governance. So the governance takes the responsibility of setting the right conditions, but the issue is that markets are changing very fast, and in recent months, ETH has been highly volatile, and those fixed configurations didn’t perform well under such conditions.

Additionally, the losses being circulated by some individuals are exaggerated. For example, if a user held 1 ETH when the pool launched (around $4,000), or deposited 1 ETH as smart collateral without borrowing, their current position would be as follows:

Holding 1 ETH:

From $4,000 down to $2,600—a loss of 35%.

LPing in the pool:

At launch, 1 supply share equaled 2 USDC. It is now 1.26 USDC.

So, a deposit of 1 ETH (or 4,000 USDC) would now be worth 4,000 * 1.26 / 2 = 2,520 USDC, which is a 37% loss - just 2% more than simply holding ETH.

So, if you LP'd at the market top, you would be down 2% more than holding ETH. As compensation, LPs will receive a share of 0.5% of the $FLUID token supply.

Overall, nothing critical happened. Everything is functioning as expected, just as it would on any other DEX. Much of the FUD is being spread by competitors who are losing market share day by day and will soon become a mere footnote in DeFi history.

We're also incredibly excited about DEX v2 and the possibilities it unlocks for users - it will introduce the highest level of flexibility and capital efficiency ever seen in DeFi. LPs will be able to create customized liquidity profiles that align with their trading strategies. The goal remains unchanged: to become the largest DEX by volume by the end of the year.

Thanks everyone for your support 🌊

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