Ariadne 1.0 (september update)
We’ve come a long wave from our initial concept of a multi-chain capital “moving company” that would allow to move assets through (any) number of farms or accounts across blockchains.
We decided the best starting point would be porting the hottest DeFi farms to other blockchains (or better: giving those blockchains liquidity exposure to these farms, no matter how small the initial investment was) and enabling cross-chain IDOs. We also updated the logic of the system as we progressed.
Our ultimate goal is to make you “forget” what chain you’re using and minimize the super user-unfriendly metamask network switching and specific blockchain gas fees payments, and expose you to each and every opportunity (established high TVL “deposit accounts”, high risk degen farms, new projects pools (launchpads) — wherever you are starting the journey, whatever starting crypto balance you have or plan to have through on-ramp.
Current state
Ariadne enables users of any supported chain to enter/exit yield farms on a multitude of blockchains, with virtually no lower limit of investment, and without having to deal with bridges, swaps and slippage, transaction costs on receiving blockchains etc. Current system is deployed to Ropsten, pre-flight link to be shared separately.
Usage example
- User selects liquidity source on a supported network (in the future also on a fiat on-ramp directly to the cheapest L1 or L2)
- System scouts available LP/farming opportunities and grades them by real APY, IL risks, smart contract risks etc.
- User “jumps in” to enabled farm(s) executing just one transaction (puchasing a token bridged from the native to farm blockchain, to be explained later)
- All user interaction happens seamlessly on any supported blockchain, and dashboard tracks users’ investment on any blockchain/farm.
- The system tracks the investments and offers to re-balance to higher-yeilding opportunities should the (incentivized) profits shrink.
How does it work
Initial farming liquidity is provided by Ariadne and its partners (sections of stables, high risk/reward etc), (later to become a DAO governed process).
On the blockchain native for the given farm, Ariadne smart contract (with permission to access the initial liquidity funds) enters the farm(s), and mints the ar_farm tokens that can be purchased/swapped on the same blockchain. At the same time, wrapped versions of ar_farm tokens are deployed on all participating blockchains.
Result: the user can instantly purchase and sell (limited by cooldown), the tokens exiting/entering farms that would otherwise be too costly to enter (in case of small capital) or too much hassle to move to.
IL and risk of the eventual farms are carried by the user, although Ariadne intends to offer a system-wide insurance at a later stage.
Ariadne also has a “fail safe” mode where the user would be able to liquidate farming tokens in case Ariadne itself “goes down”.
Farming and farm tokens
Ariadne will work with a number of farms (high roi experimental ones and seasoned, on multiple blockchains (0xPolygon, Solana, ETH, BSC, HECO)
Liquidity is either provided in advance and independently, or is allocated upon decision by the DAO (v2). They ar_farm can be ultimately farmed and earn ARDN incentive on top.
Cross-chain and liquidity management
Leveraging Allbridge tech for cross-chain infrastructure and building a liquidity management network on top of it, Ariadne strives to deliver a trouble-free moving of capital. Every participating farm will have an “instant liquidity” space (think of Bancor) but also would be able to open/increase the space. The blockchain-dependant liquidity (i.e. on bridges underneath) will also be managed automatically.
Home network, monetization and liquidity management
While wrapped ar_farm tokens will exist on multiple blockchains, we are going to choose a low-cost network to host both native token (ARDN) and manage both farming and bridging (cross-blockchain) liquidity. Ariadne will also take a widthdrawal fee on exit of ar_farm token(s).
On a single blockchain level Ariadne also performs as a yeild aggregator, harvesting/compounding based on a set or rules.
Future development
Future versions might include more strategies (delta neutral position on mirror via aUST), Uni V3 LP strategy via a third-party, DAO-driven farming implementations, ARDN staking etc.
