- Archimedes is a cross-blockchain leverage aggregator that integrates loan mining, leveraged loans, and liquidity mining.
- Archimedes provides diversified products to help users increase the utilization rate of funds.
The world of decentralized finance (DeFi) continues to grow, and with it many new and exciting projects that also offer the ease of working with different blockchains, all on one platform.
This is the case of Archimedesa new multi-chain leverage platform.
Archimedes
It is one of the most recognized phrases of Archimedes, a mathematician and thinker of ancient Greece is:
“Give me a good foothold and a long enough lever and I will move the world.”
Now, this statement can be carried over to the world of Decentralized Finance (DeFi), as with a large enough leverage you can grow your savings.
Just this option is the one offered by the platform Archimedesa new cross-blockchain leverage aggregator that integrates loan mining, leveraged loans and liquidity mining.
“Archimedes aims to build a world-leading multi-chain decentralized financial services platform. In addition to maximizing the return of mining, and thus increasing the income of Defi users.”, said the team behind the project.
What makes Archimedes different from other DeFi projects?
According to the developers behind the platform, Archimides provides diversified products to help users increase the utilization rate of funds through loans that allows users to increase their liquidity levels in the mining pools or to be able to support some slippage loss at certain times without affecting their participation in the projects.
Archimedes seeks to help unlock the idle capital found in DeFi platforms and for this it offers some services that could be attractive to users such as: higher rewards, flexible financing and transparency. Let’s see each one.
higher rewards
On Archimedes users can choose to use leverage to maximize the rate of return, and the rate of return can be increased up to 8 times.
flexible financing
When users leverage on Archiimides, the platform will provide users with the option to be able to borrow multiple currencies to maximize their savings on trading fees and slippage costs. With this option, the platform wants a slip loss to be as low as 0%, and to save costs as much as possible for users.
Transparency and lower risks
This platform is built as an open platform on the blockchain of OEC and to provide greater transparency, it will be connected to the Chainlink oracle to reliably determine all the prices of cryptocurrencies and tokens.
In this way Archimedes seeks to make the risks on the part of the users controllable by showing them all the data on the flow of funds from their own positions to the use of leverage to borrow assets on the interface.
How does Archimides work?
The concept of Meta-Vault
Archimedes developers point out that in a world where more and more users are using DeFi platforms for returns, Being able to focus all processes on a single platform has become a necessity.
Currently many liquidity miners have to migrate their assets from DeFi to DeFi, between wallets and wallets, causing many of their profits to be wasted on transaction fees. For this reason, the team has developed its own Meta-Vault, which is basically a liquidity pool that takes care of all the costs of using the bridges between blockchains, mining in the pools of different projects “for a micro fee”.
“For example, the protocol OUSD by Origin invest in multiple strategies with a single deposit and take care of everything automatically without GAS charges” noted the developers.
This will generate, according to the project, that small users recover part of the power of DeFipower that whales They have been recently taken because they are the only ones that have become able to pay the high GAS fees of liquidity mining on different platforms.
A single asset available
Archimedes not only seeks to be a DeFi that maximizes transaction costs to the minimum possible, but also will try to solve a big problem in the world of liquidity mining, and that is the impermanent loss.
“Most of the time, pool positions start out with a high APY, but then deplete over time, leaving you double-locked in your funds, as the return earned is not able to support the costs, so it could even start getting negative returns”, point out the team.
In order to avoid this, the Archimedes developer team pointed out that Meta-Vaults are the only type of asset compatible with the DeFi project, starting with OUSD, an Origin Protocol token, with others shortly after. Over time they will add new ones.
leverage engine
How will leveraged loan assets placed in the protocol’s Meta-Vault be controlled?
The answer, via the protocol’s leverage engine, as according to the team, the engine will automatically deposit USDC/USDT/DAI into the OUSD protocol.
Once the OUSD has been obtained as collateral, these will be used for the minting, with 95% of guaranteed assets, of the IvUSD. And then through the Archimedes mining pool, this IvUSD would be exchanged for DAI / USDT / DAI.
“The leverage engine will determine the available lvUSD supply based on the amount of liquidity in the Archimedes 3CRV+lvUSD curve pool”, says the team.
“The result of this process? A series of supercharged APYs that no other DeFi protocol can offerr” expressed the developers of Archimedes.
What to expect from Archimedes in the future
The roadmap for the coming months of the DeFi protocol points out that:
- It will have a DAO (Decentralized Autonomous Organization) governance mode
- More cryptocurrencies and tokens available
- Develop a loan with collateral mortgages.
- Develop a cross-chain ecosystem with Solana, Ethereum and Binance.
- Support a more decentralized platform.
- Open loans to generate stablecoins.
- Leverage will increase as new users arrive on the platform.
- There is already an access available for the Whitelist of the project. Do you want to be part of the DeFi world, this is your opportunity?
- They might even release an NFT collection in the future.
Caution!
Leaving behind the informative part of the project, we want to alert our readers that, from now on, and given the popularity of Archimedes within the ecosystem, there are several fraud attempts built to get hold of your cryptocurrencies.
Therefore, it is important to highlight that:
- There is still no portal to invest your cryptocurrencies in Archimedes leveraged loans, so any other portal is a possible Phishing attempt.
- The only page, and social networks of this new protocol are the following.
- https://www.archimedesfi.com/
- https://discord.com/invite/8Zny3PJs9G
- https://twitter.com/ArchimedesFi
- No project token exists yet, therefore ACMD has no relationship with the project.
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