ACryptoS ACSI Finance — Balancer V2 fork on Binance Smart Chain + Metaverse updates
ACryptoS, or Advanced Crypto Strategies, might be the underdog among yield optimizers like Beefy Finance and AutoFarm on the Binance Smart Chain.
Despite not being as popular as other yield farming platforms, they have quietly amassed a following and stable deposit liquidity of US$185m across its products.
They recently launched a couple of interesting updates, including the first Balancer V2 fork ACSI Finance on the Binance Smart Chain (BSC) and its foray to the Metaverse.
ACryptoS Vaults
As a recap of their core product, ACryptoS Vaults offer safe auto-compounding yield farming strategies, which not only saves you time but also min-maxes your yield farming strategy with creative automations, optimal compounding frequency, and highly efficient gas utilisation.
When depositing LP tokens into an auto-compounding vault, your tokens will grow over time without you needing to manually harvest the rewards and selling them periodically.
For example, if you’re yield farming BUSD-BNB on PancakeSwap, you might use their Pancake Vaults to automatically help you compound your CAKE tokens.
Vault yields are broken down into swap APY, vault APY and farm APY, which clearly show the break down of yields in a transparent manner.
- Swap APY: Generated through the swap fees gained as a LP
- Vault APY: Generated from ACryptoS vault strategies
- Farm APY: Generated from ACS rewards which are distributed if you stake your deposit tokens
Most of us might be familiar with the concept of vaults. But not all vaults are built the same, vaults hold your LP tokens and thus have the tendency to rug-pull or get hacked.
ACryptoS Vaults have been battle tested for more than a year of operations, with a 48-hour timelock and the removal of the migrator function to move user deposits into another address.
They have also been audited by Hacken, Certik and DeFiYield.info and have an internal $100K bug bounty from their treasury.
However, these audits and safety precautions do not eliminate risk so we kindly advise you to do your own due diligence before depositing.
ACSI Finance — Balancer V2 AMM
As a new extension to the existing product, they’ve introduced a new AMM based on Balancer V2 on the Binance Smart Chain, with up to 8 tokens supported in each liquidity pool.
This product is called ACSI Finance, and it comes with a highly flexible AMM that allows for smart, customisable pools which are more capital efficient than Uniswap’s 2-token AMM.
Since these pools can be constructed with up to 8 tokens each, it can be thought of like an inverse index fund, traders and arbitragers actually pay liquidity providers to rebalance the pool.
An interesting index fund to invest in is one that consists equally of Layer 1 native tokens — AVAX, ETH, FTM, WBNB and MATIC.
This pool is suitable for those who want to diversify across Layer 1 tokens and want to take an equal weighted position in each, while collecting fees.
For those more risk averse, the stablepool consisting of DAI, USDT, USDC and BUSD also offer yields above the market (currently ~19% APY) with little added risk.
There are dozens of pools to choose from, each with their own strategy and yield, derived from both swaps and the farm tokens (i.e. ACSI tokens).
To boost rewards from yield farming, you can stake ACSI in the ACSI Vault on their farms page. This ACSI Vault not only gives users rewards in ACSI (currently ~88%), but it also increases your yield from yield farming on ACSI Finance by up to 2.5x.
Layering yield on yield might not be suitable for everyone, as it involves taking on price risk of the ACSI token.
Metaverse updates and NFTs
The future of ACryptoS will revolve around NFTs, the Metaverse and GameFi.
As a start, they will be launching an NFT collection with mint date set as 6 December 2021.
But instead of buying them, users can simply stake a minimum of 8 ACS governance token into the NFT to mint it. The ACSI staking Collection will launch right after the ACS collection completes the mint.
Update: The mint site is now live. There is a maximum quantity of 1888 units.
This changes the NFT dynamics into something more long-lasting and dynamic for the protocol. When minting the NFT with ACS tokens, 12% goes to the treasury for funding developments while 88% gets staked within the NFT itself.
The staked ACS in the NFT enjoys the same benefit as though as if it’s staked in the core vault, which automatically compounds, enables yield farming boosts and participation in governance.
That’s a revolutionary concept — because remember, you can earn ACS for free by using its products (e.g. Vaults)!
Aside from the cool Samurai NFTs, they are building a game which is scheduled for beta release in mid-2022. This metaverse brings Samurai warriors together and allow them to hang out at their local izakaya, as you guys head out on joint missions together — pretty cool huh!
This game is freely playable by having a DeFi Wallet, but if you own a character NFT like the Samurai collection above, you can enjoy additional perks such as NFT upgrades and in-game airdrops.
Final thoughts
ACSI Finance offers an interesting paradigm in a world of similar Uniswap/PancakeSwap forks on Binance Smart Chain.
The Samurai NFT and upcoming integrated metaverse would be something worth looking into as well. They have clearly shown commitment to building safe, long-lasting products while innovating in the space.
We are definitely excited to see what’s in store for ACryptoS in the coming months.
