ICHI and Ascent Partner to Introduce Yield IQ Vaults on Horizen EON
ICHI is teaming up with Ascent Exchange, the native liquidity layer on Horizen EON blockchain. This dynamic partnership opens the gateway for early users on the Horizen EON network to delve into optimized liquidity provision strategies. Joining forces, ICHI and Ascent Exchange promise a seamless and efficient liquidity provision experience on Ascent Exchang — The Next-Gen Liquidity Layer on Horizen Eon.
Ascent’s Mission
Ascent is an innovative Automated Market Maker (AMM) set on a mission to redefine the integration of new protocols, revolutionizing the landscape with a dynamic market for AEX emissions. This unique approach empowers protocols to incentivize veAEX holders, providing a flexible avenue for growth and scalability. Inspired by the proven models of Curve & Solidly, Ascent’s ve(3,3) tokenomics and flywheel effect have been meticulously designed to maximize rewards and optimize liquidity, ensuring an unparalleled trading experience on the Horizen EON network.
ICHI’s Yield IQ: A Practical Solution for DeFi Earnings
ICHI introduces a pragmatic approach to liquidity provision in the DeFi space. Unlike conventional methods, Yield IQ challenges the notion that trading fees minus impermanent loss leads to undesirable outcomes for volatile tokens. Instead, it operates as an income generator, effectively managing risks and earning income for token holders.
How Yield IQ Works
Users deposit their preferred tokens (single-sided), and Yield IQ allocates them to a concentrated liquidity automated market maker (AMM), such as Uniswap V3. In return, users receive LP tokens, representing their shares in the liquidity pool. The strength of Yield IQ lies in its ability, powered by Chainlink Automation, to dynamically adjust the liquidity position based on token arrangement and market conditions. This ensures users earn trading fees and supplement token appreciation. With the flexibility to withdraw the initial deposit and earnings at any time, Yield IQ provides a straightforward yet powerful solution.
Whether in bull or bear markets, Yield IQ’s continuous monitoring and rebalancing mechanisms safeguard users from over-exposure and potential losses. This feature is particularly advantageous in volatile market conditions.
Ascent: Native Liquidity Layer on Horizen EON
Simultaneously, Ascent is making significant strides as a native liquidity layer on the Horizen EON blockchain. Ascent Exchange’s mission is to become the liquidity backbone of the Horizen EON network, facilitating seamless onboarding for new and existing protocols through capital-efficient liquidity bootstrapping.
Launching as the first decentralized exchange with ve(3,3) tokenomics on Horizen EON, Ascent gains a valuable first-mover advantage, setting the standard for trading on this evolving blockchain. The collaboration with Wave GP, Horizen EON’s dedicated liquidity provider, ensures deep and stable liquidity gauges, enhancing the overall trading experience for users.
Their dedication lies in ensuring a decentralized and fair distribution model. Ascent prioritizes regular users of core protocols on the Horizen EON, extending support to projects seeking to enhance their liquidity through Ascent. Their unique approach allows them to promote best practices among stakeholders and foster a vibrant community of enthusiastic Ascent supporters, all achieved independently of discounted token sales or venture capital engagements.
The Partnership: Yield IQ Enhances Ascent’s Liquidity Offering
The collaboration between ICHI and Ascent represent a synergistic approach to smart liquidity provision, creating a commitment to efficiency leading to a more comprehensive ecosystem. This ecosystem addresses the challenges of liquidity provision such as capital inefficiency while offering users a practical and user-friendly platform to earn on-chain yield.
How Can I Access Yield IQ Vaults?
Users are now able to deposit into Yield IQ vaults through Ascent’s s user-friendly interface. The following pairs are available and ready for anyone who wishes to provide liquidity using Yield IQ.
1) ETH-USDC
2) ETH-BTC
3) ETH-wZEN
4) AVAX-wZEN
5) USDT-wZEN
6) BTC-wZEN
7) USDC-wZEN
9) USDC-USDT
Bluechip asset vaults and bluechips paired with ZEN provides users with various liquidity provision options to suit their needs. Deposit one asset and earn more of it as the Yield IQ algorithm does its magic.
Important: The LPs must not be staked in the AEX farm in order to earn trading fees. If the LP is staked in the farm then only AEX rewards are earned.
User Benefits
Users are empowered with a simplified and efficient way to provide liquidity on Horizen EON. Additionally, users benefit from single-sided deposits, that auto-adjust the concentrated liquidity position based on token arrangement and market conditions, leading to potential fee earnings, and the flexibility to withdraw assets at any time.
Closing thoughts
Together, ICHI and Ascent create a synergistic ecosystem, committing to efficiency and offering users a practical and user-friendly platform for on-chain yield. With the unique ability to deposit into Yield IQ vaults through Ascent’s user-friendly interface, users gain access to a range of pairs, providing diverse options for liquidity provision. The user benefits are clear — a simplified, efficient, and flexible approach to providing liquidity on Horizen EON. As this partnership paves the way for a more comprehensive ecosystem, it strengthens the overall EON ecosystem.
About Horizen EON
EON stands as a beacon of innovation within the blockchain space. It is a fully EVM-compatible sidechain and smart contract platform, engineered for massive scalability. EON facilitates swift access to Horizen’s burgeoning ecosystem, with features like the Cross-Chain Transfer Protocol (CCTP) and zkSNARKs enabled permissionless cross-chain communications. Horizen itself, the powerhouse behind EON, guarantees a secure, reliable, and robust environment with a vast node network for decentralization, zero downtime, and enhanced security measures against 51% attacks.
About Ascent Exchange
Ascent Exchange is the Next-Gen Liquidity Layer on Horizen Eon. At our core, we are driven by a community-centric approach, unyielding commitment to decentralization, scalability, security, and innovation-driven functionality. These foundational principles underscore our journey towards excellence in decentralized finance.
About ICHI
ICHI is a trustless market-making protocol that enables the use of sophisticated algorithmic strategies on Uniswap V3. With its fully automated Yield IQ vaults, ICHI allows for all token holders to earn from liquidity provision. True to the spirit of DeFi, Yield IQ is governed by a self-executing smart contract, ensuring impartiality and decentralization. This ensures unrestricted, permissionless access and unalterable protocol behavior, serving as a truly decentralized financial tool.
Learn more by visiting the ICHI Website, Medium, Twitter or Telegram.
