Ariadne Project introduction
UPDATE: please refer to this article https://medium.com/ariadne-project/ariadne-1-0-september-update-b1ce198c7533 for the updated news, we changed a lot from the idea of the project to reality!
Multi-chain limbo and farming as the new trading
Our story begins in frenetic 2021, where apart from massive growth and people buying meme stocks and coins, DeFi has opened the opportunity to be exposed to the rapidly appreciating and highly volatile assets while mainting USD-protected positions. Something that simply wasn't there the previous bull run is here — you can deposit USDT in a decentralized protocol and get incentivized revenue of 30 or 40% APY.
While Ethereum has a headstart there’s clearly more than one network that can carry financial services, and the void that is created while waiting for Ethereum 2.0 might be filled by other contestants such as Polkadot. Multi-chain is currently also a user experience problem, managing their private keys was already hard for mom and pop, but constantly switching networks in Metamask, remember what token is used to pay for gas in a particular network and open multiple tabs for bridging capital between various blockchains is simply too much for most people.
Ariadne “the moving company”
While there is no shortage of DeFi dashboards we set out to deliver a service that would get you from point A to point B faster in your personal finances. Scenario-driven user experience of Ariadne will let you move funds quicker and cheaper (sic!) within a single or multiple blockchains.
To understand the approach better, think of booking.com or skyscanner.net interfaces — multiple steps (multiple transactions) in our case are presented in a single view, that can assess all costs and bundle multiple transactions into one if the user chooses to.
While we do not target the DeFi space taken by zapper.fi and similar dashboards, we aim to be the most secure, user-friendly and cheap option to move your capital across one or multiple blockchains in a trustless way. Be it taking out some USDC from your LP positions on Layer-2 or moving all the farms to a different network, Ariadne will calculate the costs beforehand and execute saving you a lot of time and money.
What comes next
Ariadne’s ambition of course, is not just being the go-to interface for optimizing transfer costs and pull some liquidity off single chain DeFi aggregators, but to enable a truly frictionless multi-blockchain experience.
$ARDN token will exist in both native (cross-blockchain) and wrapped version for every blockchain we support. This will mean that the user can mostly stop worrying about native currency tx costs and multi-steps operations for things like getting funds from LP positions from one blockchain and onto another one. All it will take is approve the transaction steps (that can span multiple blockchains) and a total cost will calculated in the native currencies of all the blockchains involved and converted to the para-token. User para-token balance should be in the native state to authorize the payment to Ariadne. Once approved the token balance is burned and liquidity from the pools of the native currencies is used to pay for transactions in each of the chains of the Ariadne path. Out of the labyrinth to the off-chart happiness and ease.
Current state of affairs
The team is currently working on the MVP, please follow us on social media for updates and github for development updates later this year.