Introducing Aries Markets
Aries Markets is excited to unveil its brand and vision as a decentralized exchange. Aries Markets brings you borrowing, lending and margin trading all in one platform.
DeFi Today
The current DeFi landscape across various L1 ecosystems today, consists of a very fragmented user experience. For instance, on Ethereum, Aave and Compound offer lending and borrowing solutions, Uniswap and Sushi offer an automated market maker (AMM) DEX, Perpetual Protocol offers decentralized derivatives trading, and more. This pales in comparison to our centralized counterparts. Exchanges such as FTX, Binance and the like, offer a variety of such products, albeit in a centralized manner. Users are able to access all of these products from the same platform rather than requiring them to navigate back and forth across different applications.
Enter Aries Markets
At Aries Markets, we believe that user experience is paramount for onboarding the next generation of crypto users. We envision Aries to become the likes of a DeFi “super” App, which will aggregate and simplify the user experience across all of the DeFi on the Aptos ecosystem.
Aries Markets aims to provide users with a CEX-experience which will allow users to borrow, lend, swap and trade with margin via a fully decentralized orderbook and Automated Market Makers (AMM).
Below is a snapshot of some of the features on Aries Markets:
Aries Money Markets
Over-collateralized lending and borrowing. Users can deposit assets to earn yield and/or borrow assets against collateral for other uses.
Aries Trade
Spot margin trading is similar to spot trading but it allows the use of the borrowed funds to further capitalize on the future movements of an underlying asset. Margin accounts allow users to borrow funds from our shared liquidity pool which is deposited by other users to earn interest.
Aries Swap
Funds that are deposited into Aries can also be used to trade on various AMM markets. We are working with partners on integrating this into coherent products to present to our users.
Account Management
The key component that enables these products on Aries is a unified margin account which users will have to manage their risk on. This is similar to creating an account on a centralized exchange.
This also allows Aries to develop further exciting modules:
- Sub accounts
Aries Markets will enable sub account management to help users isolate risk among different trading portfolios and strategies. - Interest Bearing Tokens
Aries Markets will also implement interest bearing tokens for users who deposit on our protocol that continuously accrues interest value. Interest bearing tokens are a useful DeFi Lego block, which could be integrated by many of our partners. - Token Agnostic Flash Loan
In traditional implementation of flash loans such as Aave, it is required that the borrowed token and the repaid token must be the same token. Concretely, if one borrows Bitcoin, you will have to repay bitcoin in the same transaction. Aries Markets allow users to take on a flash loan with one type of token but repay using another token provided that enough tokens are repaid. That means, one can borrow Bitcoin and repay another token, say USDC instead!
Move as a Programming Language
When building Aries Markets, stability and security is definitely of prime consideration. This includes not just the protocol itself, but also any other DeFi Legos that it developed or integrated upon. Move is purpose-built for highly scalable blockchains, enabling fast transaction times and high throughput. It is also designed to be blockchain agnostic making it ideal for dApps with multichain deployments. The ABI provided by Move allows users to have readable wallet signing messages, another step forward for user experience. Move language also provides many built-in Tooling such as Coverage Testing, Formal Verification, reproducible build out of the box. These features allow contract engineers to build world-class, institutional-grade dApps on Move, with less risk of hacks.
Next Steps
Aries Markets is excited to announce that its initial launch will be conducted on Aptos main net! Further details will be provided nearing launch. In the meantime, we’re on the hunt for beta testers of our platform. We will be announcing details on how to join our closed beta program alongside our other community campaigns on Discord and Twitter, so stay tuned for updates!
