ARCx is NOT a $YFI $YAM yield farming clone! It’s a whole new game and there’s still room to join KYFv2 & earn protocol token $ARCX.
Now you might be asking yourself why is ARC worth your time to begin with?
➡ using #Chainlink oracles
➡ picked $LINK as first asset But there’s SO much more, strap in!
We’ll cover research we gleaned from Discord, Twitter, Gamepaper, website, & more. We’ll add additional clarification to some of the existing info on this project.
#ARC is a Synthetic Asset Protocol & a Game!
ARC creates synthetic debt dollars from any collateral type you want via separate asset pools. So its just another debt-backed-currency? Copying @MakerDAO/@AaveAave? Nope! Each debt pool is separate from the others because they relate only to singular currencies.
ARC is like MakerDAO for anything and everything! There’s an interest rate to mint debt & a counterparty incentive to hold debt to earn yield. Interest rates are proxies for the rate minters are willing to pay to go long. Debt free-floats within a banded range like bonds.
Introducing bond holders! Once bonds exist for many asset classes they can be bundled to create a new debt instrument. Example combining $LINK-USD (minters pay 5% APY) + $LEND-USD (minters pay 10%APY) to form BASED-DEFI. Hold this “bond” & you’d receive an averaged 7.5%APY.
Now imagine having the ability to creatively package this debt into whatever instrument you want. Because the bonds are composed of various debts (to your liking) its arguably a safer asset class than holding one token or withdrawing one stable coin against your holdings.
Tokenomics:
$ARC token governs the system. The first ARC liquidity pool $LINKUSD will function similarly to $DAI. ARC is similar to $MKR but with staking behind collateral to build confidence in their use & adjust their limits. ARC & LINKUSD holders earn fees from debtors.
❌🐳 No pre-mine: ARC DAO receives 1/3 of all issued tokens over 4 years
👩🌾 Farmers delight: #Yieldfarming community members receive the other 2/3
🔮 KYF
KYF? What the heck is this?
🌱 Reduces applicant pool for initial roll out to those who have experience farming to gain early feedback.
🐠>🐳 Places cap on rewards per applicant to nullify whales from gaining too large an influence
🎭🤺 Sybil resistance mechanism
KYFv1 had an overflow of interest & the team added a KYFv2 to strike a balance between fairness, future viability of the protocol and transparency. KYF v1 (FULL) has 644 users. KYF v2 (still room) allows 2356 users.
The Game.
The objective is simple: users coordinate together to create a new asset class.
- Level 1 = create $1m worth of LINKUSD
- Level 2 = scale to $10m worth of LINKUSD
- Level 3 = add RENBTC as collateral & create $1m worth of RENBTCUSD
- Level 4 = scale RENBTCUSD to $100m.
“The ARC network will contain levels which yield farmers will need to progressively unlock. The higher the level, the more valuable ARC as a network will become. Work together and win together with fellow Arc Angels.”
Due Diligence
🔘 ARCx smart contracts currently being audited by Richard Ma
🔘 Audited contract repos will be made public at the time of launch
🔘 Rewards not claimable immediately (1–2mo delay) to ensure a good portion of supply is on the market & avoid supply side liquidity crises
Learn more about ARC:
🎮 Game Paper: https://gamepaper.arcx.game
💬 Discord: https://discord.com/invite/skwz6je
🕸 Website: https://arcx.game
🐥 Twitter: @arcxgame
Here’s how to get involved in KYFv2:
- Visit https://app.arcx.game/kyf
- Connect your wallet (top right corner)
- Check if you’re eligible
- Submit proof on-chain (contact is here: https://etherscan.io/address/0x404789fd049f56bd9924419f12afba1b2573fc20)
- View the status of level 1 live on https://arcx.game/levels
This Medium post is based on the tweet thread by Quare:
