Arable Protocol Project: Decentralized Synthetic Farming Protocol
The Arable is the decentralized synthetic farming protocol. The purpose of Arable is to give a single platform to yield farmers that emphasizes on overall yield access and also enables multi-chain farming. Cross-chain bridging, erratic DEX fees, and slippage are major obstacles that are eliminated by multi-chain, making them more practical and available. Trading between assets never results in slippage and always has a fixed % cost.
Farmers frequently work on many farms and chains in search of the maximum yields. That typically requires a lot of work and is expensive. The process of switching from token A on chain B to token Y on chain X includes numerous steps and is known as multichain farming. At Arable, users can eliminate bridging, which will save you time and money. When repositioning money, there is no slippage, so the user is protected from any dangers brought on by market volatility. Some of the key points about the Arable protocol are as follows:
Audit: Solidity Finance has successfully audited Arable’s contracts. Check out their report here.
arUSD: arUSD is a stablecoin that is pegged to the price of the United States Dollar. The onboard ramp to buy synths in the Arable app, which can then be exchanged or farmed and sold back to arUSD at any time, which is created by depositing collateral.
Arable a fork of Synthetix or built from scratch: Arable is built from scratch, but they utilized a forking mechanism for collateralization and pooled debt.
Unbonding/Unlocking: To maintain the stability and security of the protocol, there is an unlocking time, if the user chooses to unstake their ACRE. General staking delegated staking, and liquidity mining all have a 14-day unbonding period. Throughout the unbonding phase, the user will not accrue any incentives.
Swapping synths at the Arable DEX is:
- Economic with a flat 0.3% fee for synthetic assets of multiple chains
- Instant with zero slippage
- Simple, no bridging required
- Reliable, with no failed or delayed transactions.
Native Token: ACRE
The following are the advantages of the native token ACRE of Arable:
- Governance token of the Arable protocol
- Fee token
- Reward tokens distributed to validators, liquidity miners, delegators, and stakers.
Token address & other details: https://snowtrace.io/token/0x00ee200df31b869a321b10400da10b561f3ee60d
Tokenomics
Roadmap
Conclusion
After making preliminary preparations, the Arable team began developing its cross-chain synthetic farming concept in August 2021. This notion originated in the late 2020s. Initially having a small team, they now have a larger crew and an increasingly active community. The team is currently closely following their plan and making constant improvements to their product. It will be interesting to see the future of this project.
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