Zenlink Hybrid AMM Launch Info

Published in

Zenlink Foundation Ltd.

5 min readMay 27, 2022

Since the announcement of the upcoming launch of Zenlink Hybrid AMM, we have been delighted with the support we have received from many projects and the community's incredible response. You can learn more from the following:

Now is the time to launch — Zenlink Hybrid AMM will be live on the Moonriver network on May 31 at 10 am (UTC) and live on the Moonbeam network on June 1 at 10 am (UTC), with Stable Farm on both networks launching at the same time!

The Zenlink Hybrid AMM smart contract has passed PeckShield’s security audit, and you can read the full audit report here, and scroll down to learn everything about the Zenlink Hybrid AMM.

Stable Pool Info

The launch of Zenlink Hybrid AMM means that Stable AMM will be available and the 1st 4pool standard curve on Dotsama will be live.

Swap Fee: There is a 0.05% fee on each transaction using the Stable AMM. 50% goes to the liquidity provider, 30% is used to buyback ZLK, and 20% goes to the treasury.

Amplification Coefficient: Higher values widen the range of low-slippage fees, while lower values help keep the pool’s composition balanced.

Flashloan: Zenlink Stable AMM will support the flashloan feature.

Stable Farms

To help Stable AMM build more liquidity while providing users with stable DeFi gains, Stable Farms will also be launched, with 4pool being activated first (more pools will be added later). This will need to be elaborated separately for both networks:

The 4pool on Moonriver is a new curve pool consisting of USDT+USDC+xcAUSD+FRAX (USDT, USDC bridged by Multichain)
The 4pool on Moonbeam is a new curve pool consisting of madUSDT+madUSDC+xcAUSD+FRAX.

Users on both networks are allowed to provide liquidity to the pool with any combination of the above 4 stablecoins to obtain 4pool LP tokens, which will be staked to the farming pool for earnings. (A farming tutorial is available at the end of this article)

In introducing stable farms, we give a brief overview of all stablecoins involved in 4pool here:

Acala USD (aUSD/xcAUSD)

The Acala USD (aUSD) stablecoin is a decentralized, over-collateralized stable currency that serves as the native stablecoin of the Polkadot and Kusama ecosystem. aUSD is minted from a variety of reserve assets such as DOT, ACA, LDOT, and LKSM. This allows holders of the reserve assets to earn, spend, trade, and access other services without price volatility while retaining ownership of their reserve assets. xcAUSD is the XC-20 token on Moonriver&Moonbeam, the token symbol for aUSD after it has been transferred to the Moonriver&Moonbeam network via XCM. Learn more here: https://docs.acaladollar.app/

FRAX

FRAX is the first stablecoin to combine collateral (like MakerDAO’s DAI) with algorithmic stablecoin design principles to create a new scalable, de-trusted stable on-chain currency, with FRAX anchored 1:1 to the U.S. dollar. To date, the total supply of FRAX is over $1.4 billion. Learn more here: https://frax.finance/

mad stablecoins (madUSDT/madUSDC)

madUSDT, madUSDC, madDAI, and other “mad” marked assets on the Zenlink platform are all assets that are bridged from Ethereum to Moonbeam via Nomad. They are 1:1 anchored to their counterparts on Ethereum such as USDT, USDC, DAI, etc. in the form of collateralized minting.

any stablecoins (anyUSDT/anyUSDC)

anyUSDT, anyUSDC and other “any” marked assets on the Zenlink platform are assets bridged from Ethereum to Moonbeam via Multichain (formerly Anyswap). They are anchored 1:1 to their counterparts on Ethereum such as USDT, USDC, etc. in the form of collateralized minting. On the Moonriver network since Multichain is the main bridge used, we do not mark them, the USDT and USDC you see on Zenlink are bridged via Multichain.

Doing Swaps using the Hybrid AMM

With the introduction of Hybrid AMM, each transaction will automatically connect Standard AMM and Stable AMM via Zenlink Smart Order Routing to select the best trade path for the user, who will be able to view the trade path at the bottom of the trading window.

In general, transactions will be divided into the following three categories according to the optimal trading path (the figure is a screenshot of the testnet on Moonriver and the pool is illiquidity, please refer to the actual trading on both Moonriver&Moonbeam):

Transactions routed through Standard AMM and Stable AMM:

Transactions conducted through Standard AMM only:

Transactions conducted through Stable AMM only:

NOTE: Due to our upgrade of Zenlink Smart Order Routing, users will need to re-approve all transactions.

Adjustment of Farming Pools on Zenlink

Finally, in order to maximize the utility of Hybrid AMM and aggregate liquidity, the Zenlink team will also tweak and optimize the farming pools across the platform, as detailed in the following chart.

It should be noted that this adjustment is made to concentrate liquidity in stable pools and the adjustment will be gradual, so we recommend that users move their liquidity to the 4pool after the stable farm goes live and get better returns.

To make it easier for users to access the protocol updates and enter into stable farms, we have prepared a tutorial: https://wiki.zenlink.pro/zenlink-dex-dapp/hybird-amm#user-guide

Follow the tutorial and you’ll be able to become proficient in how to interact with Zenlink Hybrid AMM and participate in Stable Farm, just enjoy it! Don’t forget to migrate your liquidity from ending incentive farming pools to stable farming pools for better returns!

Learn more about Zenlink:

📚 — Whitepaper | Tokenomics

Zenlink Hybrid AMM Launch Info

Stable Pool Info

Stable Farms

Doing Swaps using the Hybrid AMM

Adjustment of Farming Pools on Zenlink

Written by Zenlink