Full Sail Focus | Episode 6 ⛵🎙️

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Full Sail ⛵
@FullSailFiOct 24, 2025

The Spaces covered current market sentiment and practical LP psychology, then dove deep into upcoming product improvements and strategy on Full Sail (a Sui-based DEX). Speakers noted a risk-off weekend and the importance of managing emotions, keeping dry powder, and using LP rewards to cushion drawdowns. The core updates: a one-click manual LP rebalance (swaps executed in-transaction), flash-loan USDC to cover exercise fees so users no longer pre-fund, and vaults that let capital be managed under preset LP/voting strategies (with a management fee on withdrawal). Security is emphasized with multiple audits. The team launched SDKs (hundreds of downloads) to ease arbitrage/trading integrations. They explained dynamic fees and an emissions model where weekly volume predictions help calibrate APRs; APRs dip when TVL spikes but recover within 1–2 epochs as emissions adjust, with a Return on Emissions approach to prevent waste and recognize diminishing returns at higher TVL. Community shared actionable LP tactics: wider ranges, patience out-of-range, multiple positions/hedges, and tracking fees vs TVL. Content plans include YouTube/TikTok education and a video contest.

Fullsale Twitter Spaces Recap and Deep-Dive

Kickoff and Participants

  • Host: Treb (Fullsale team; education/content lead). Opened the session, coordinated speakers, and shared plans for YouTube/TikTok educational content and a community video contest.
  • Core team:
    • Uber (business/product; frequently called “Uber/Ubig/Mr Oobig”), led protocol roadmap updates (LP tooling, vaults, SDKs, emissions/fees mechanics, audits).
    • Hypermassive (strategy/product), walked through manual rebalancing, vault design, emissions/APR dynamics, and practical LP strategies.
  • Community contributors and guests:
    • VN Ninja (content creator; LP practitioner), shared hands-on LP experiences, submitted community song/video.
    • Bard (content creator; “prediction voting” advocate), described the learning curve and how voting rewards work in practice.
    • Dunkirk (educator), emphasized using volume flow and pool selection plus patience.
    • GreenCurb (LP strategist), offered advanced LP/risk tips (range sizing, timing rebalances, hedges).
    • BigThanks (content creator), highlighted dynamic fee differentiation and education push.
    • Shake (community voice; humor interlude on risk appetite).
    • Additional names referenced: Alex (team/community; not LPing yet but plans to when tools simplify), Intrinsic (notable attendee).

Market Backdrop and Mindset

  • Sentiment: A choppy weekend/drawdown shook out leveraged longs; many sidelined awaiting direction. Team and guests framed this as a common cyclical “shakeout.”
  • Emotions vs discipline:
    • Managing emotions is central to investing. Acknowledge the pain of drawdowns, then reset and identify opportunities (Speaker 2).
    • “Buy low, sell high” is psychologically hard in real time; keep stablecoins on the side to buy dips and avoid needing fiat on-ramps at the worst time (Uber).
  • LP buffers: Farming Fullsale LP rewards can cushion portfolio drawdowns via steady emissions (Hypermassive; Wk-to-wk rewards ease volatility stress).

Product Updates and Roadmap (Fullsale)

  • One-click exercise (live):

    • Users no longer need to pre-fund USDC to exercise; a same-transaction “flash-loan-like” step sources the exercise fee and executes in one click. This removes a major friction point for LPs and veSALE participants (Uber).

  • Manual rebalancing (coming next week or shortly after):

    • One-click “manual rebalance” will execute necessary swaps and reset ranges in a single action (you still trigger it manually). This collapses today’s multi-step flow (withdraw → swap → set ranges → deposit) into a single operation (Hypermassive/Uber).

  • Vaults (target: ~2–3 weeks; under active testing):

    • Users deposit (e.g., $1,000) and a vault manager runs predefined strategies (LP and/or voting) on their behalf.
    • On withdrawal, fees (e.g., ~10% management) apply to profits; net is withdrawable.
    • Designed for users who want Fullsale yield without active LP management; power users can still self-manage.
    • Integration/partner mention: working with Kai Finance-like partners on strategy modules (Hypermassive).

  • Zap in/out (same dev cycle as rebalancing/vaults):

    • Single-asset deposit/withdraw with behind-the-scenes splitting/combining to form or exit LP positions. Eases onboarding, range resets, and risk control. High community demand; coming soon (Uber/Hypermassive).

  • Auto-rebalancing & ALM optimization:

    • Auto-rebalancing and vault ALMs are being tuned for risk/return, especially around cementing impermanent loss (IL) vs. reward capture. Expect iterative testing/calibration (Uber/Hypermassive; GreenCurb notes IL must be minimized algorithmically).

  • Tokenomics simplification:

    • Team is exploring ways to make tokenomics easier to understand without changing core mechanics (Hypermassive).

  • SDKs (released):

    • 600+ downloads in days; intended for developers/arbitrageurs/aggregators to access pools and route liquidity with minimal contract complexity.
    • Use cases: arbitrage bots exploiting price differences across DEXs; partner integrations (Uber).
    • Simple framing: SDKs are “integration kits” to plug Fullsale pools into external systems without rebuilding from scratch.

  • Security/audits:

    • Multiple audits completed (three firms); reports to be published on-site. Team prioritizes security over speed to protect user funds (Uber).

Core Mechanics: Fees, Emissions, and APRs

  • Dynamic trading fees:

    • Fees scale with volume/volatility. During the recent dump, some pools saw >1% trading fees, reflecting intense routing demand (Uber). Higher realized fees feed LP yields.

  • Emissions-driven APR stability:

    • Unlike fixed-incentive DEXs where new TVL permanently dilutes APR, Fullsale emissions adjust through the weekly prediction market.
    • Flow: new TVL → more aggregator routes → higher volumes → voters observe and predict higher volumes → emissions increase → APRs recover in subsequent epoch(s).
    • Typical timeframe: 1–2 epochs (weeks), depending on how quickly predictions converge to realized volumes (Uber/Hypermassive).

  • Return on Emissions (RoE) and diminishing returns:

    • Emissions are calibrated to generate more in fees than they cost in token output. As TVL rises, a point of diminishing returns appears (informal internal mark around ~$10M TVL), where further increasing emissions isn’t efficient. RoE ensures emission dollars net back >$1 in fees (Hypermassive).

  • Sustainability and stickiness:

    • Goal is to keep APRs attractive without mercenary incentives. With dynamic fees + predictive emissions, pools remain competitive, promoting LP retention beyond short-lived incentive farms (Uber).

How to Earn on Fullsale: Two Primary Paths

  • LPing (liquidity provision):

    • Provide concentrated liquidity, earn emissions (not raw swap fees) that are calibrated by the prediction market and volume dynamics.
    • New tools (manual rebalancing, zap, vaults) reduce the learning curve.

  • Prediction voting via veSALE:

    • Lock SALE → receive veSALE → make weekly volume predictions per pool.
    • Rewards include a portion in underlying assets (e.g., BTC, ETH, SUI) and a portion in Fullsale tokens, claimable each epoch if eligible.
    • Bard and others emphasized the “mini-game” feel: stacking real assets weekly through accurate predictions can build positions over time.

  • Additional ways:

    • Spot holding SALE (if you don’t want to lock);
    • Active trading (day/swing/arbitrage) on Fullsale; some high-volume traders have reached out to structure routes (Hypermassive/Uber).

Practical LP Strategy Discussion

  • Range selection principles:

    • Use TA: anchor to recent support/resistance and ATR-type bands; pick ranges that reflect where price has spent the last 2–3 weeks (GreenCurb/Hypermassive).
    • Wide vs narrow:
      • Wide ranges: lower APR per unit but longer time in-range, less babysitting. Suits choppier markets or hands-off users.
      • Narrow ranges: higher APR potential but frequent out-of-range risk; requires active monitoring and faster rebalances.

  • Out of range ≠ liquidation:

    • You can sit out-of-range indefinitely; you simply stop earning until price re-enters.
    • There’s no liquidation risk like lending/borrowing protocols; “liquidation” only manifests as realized IL if you rebalance/close at a loss (Hypermassive; repeated to reassure newer LPs).

  • When to rebalance:

    • GreenCurb rule: after going out-of-range, wait ~24–48 hours; mean reversion often brings price back into range without crystallizing IL.
    • If price trends away, some treat the position like a trade: when fully converted to one side (e.g., 100% SUI), open a new out-of-range band higher so rebounds auto-take-profit (Hypermassive).

  • Multiple positions and hedges:

    • Split capital into several sub-ranges within a wide shell range to “ladder” capture.
    • Pair a portion of capital in a stable-stable pool (e.g., USDC/USDT) to offset IL from a volatile pair (e.g., SUI/USDC); stable APRs can partially cover IL from volatile pools (GreenCurb).

  • Tracking P&L:

    • Maintain a simple ledger: date/time, TVL deposited, and running claimed rewards. Alternatively, rely on on-chain explorers and regular screenshots to assess net performance (Hypermassive/GreenCurb).

  • Patience and expectations:

    • It’s common to be “off” in weekly predictions during high volatility; APRs and emissions recalibrate in subsequent epochs as the market and voters digest changes (Uber, Hypermassive, multiple attendees).

  • Example returns and pool highlights:

    • ETH/USDC on Fullsale: cited as offering the highest LP rewards chain-wide (checked via DeFiLlama), even after 50% exercise fees; despite modest TVL (~$120–130k) the APRs have been extremely competitive.
    • Hypermassive shared an anecdote: roughly $300 in rewards over three days from ~$3k LP in ETH/USDC (after exercise fees). Results depend on market conditions, ranges, and in-range time.

Community Education and Enablement

  • Learning resources and outreach:

    • Fullsale Masterclass (YouTube): weekly episodes (Mondays) to onboard beginners; TikTok channel launched for wider reach.
    • Video contest: submissions closing imminently; winners announced on Monday following the space.
    • Discord “pool-deck” channel: active strategy sharing and Q&A; Hypermassive will resume posting strategies regularly.
    • Content creator group: VN Ninja and others being added to amplify explainers and best practices.

  • SDK adoption and builder interest:

    • Rapid uptake suggests arbitrageurs/aggregators are integrating. More routing should deepen volumes, supporting emissions and APR dynamics.

  • Security first:

    • Multi-audit posture and delayed releases when warranted; final reports to be published for transparency.

Q&A Highlights

  • Zap in/out timeline: Part of the same development wave as manual rebalancing and vaults; “very soon.”
  • “Will I get liquidated if I’m out of range?” No. Out-of-range stops rewards but doesn’t liquidate. Realized loss only occurs if you close or rebalance unfavorably.
  • Narrow vs wide ranges for beginners: Start wider to stay in-range longer and reduce micromanagement. Move to narrower, higher-APR ranges as you gain confidence and learn to rebalance.
  • How long for APRs to recover after big TVL inflows? Typically 1–2 epochs as prediction votes catch up and emissions rise.
  • Vault earnings cadence/fees: Profit-based, fee taken upon withdrawal; exact fee schedules and reporting UX are in testing.

What to Watch Next

  • Next week: Manual rebalancing (one-click), subject to final testing.
  • Shortly after:
    • Vaults (initial strategies and partners; management-fee model; clearer APR displays).
    • Zap in/out for single-asset entry/exit.
  • Ongoing:
    • Auto-rebalancing and ALM calibration (minimizing IL, maximizing net RoE).
    • Published audits and tokenomics simplification content.
    • Continued SDK adoption and aggregator routing.

Key Takeaways

  • Fullsale’s edge is a combined system: dynamic trading fees + prediction-driven emissions that adapt to volume and TVL changes, stabilizing APRs over epochs while targeting positive Return on Emissions.
  • The team is removing friction for non-native DeFi users: one-click exercise, one-click rebalance, zap in/out, and vaults are explicitly designed to onboard first-timers.
  • LPing on Fullsale is highly strategy-driven: choose ranges with TA, accept that out-of-range is normal, avoid reflexive rebalances that lock IL, and consider multi-position hedges.
  • Emissions will not scale infinitely: RoE caps and diminishing returns protect sustainability. The goal is long-term LP “stickiness,” not mercenary yield.
  • Education momentum is strong: weekly masterclasses, Discord strategy threads, and community content (including songs and tutorials) are helping more users understand and benefit from Fullsale’s mechanics.

Closing

  • The session blended macro sentiment, platform roadmap, and practitioner-grade LP strategy. Community feedback has directly shaped the product (exercise simplification, rebalancing, vaults, zap-in/out). The overarching mission: make Fullsale accessible and sustainably profitable for both newcomers and advanced LPs, with robust security and transparent mechanics.