In the current system you can't buy anything without giving away private data. In DeFi you can borrow, lend, stake and send money without proving your identity. DeFi applications don't worry about trusting you because they have the collateral you put up to back your debt. According to DeFi Pulse, there $13.43 billion in crypto asset locked in DeFi right now and this value has been constantly increasing since June 2020 (TVL was $1.09 billion), it counts as a fairly large and intense growth.
What is yield farming and why is it so hot right now?
Yield farming is an effort to put crypto assets to work and generate the most returns possible on those assets. This, in essence, is where we could look for investment opportunities, the best returns that bring the most from week to week with sometimes higher or lower risk. Liquidity mining plays such a big role in yield farming that sometimes these two concepts are interchanged, it is a process of apportionment extra tokens to the users of a protocol.In short yield farming is a way to make more crypto with your crypto.
What is a liquidity pool?
It works with liquidity providers (LP) that add funds to liquidity pools.
In DeFi, Liquidity pools are pools of tokens that are locked in a smart contract. They facilitate efficient trading of assets by providing liquidity and they allow investors to earn a yield on their holdings. Liquidity pool is just an automated market maker (AMM), if you’re familiar with any standard crypto exchanges, you may have seen that their trading is based on the order book model. In this order book model buyers try to buy a certain asset for the lowest price possible whilst sellers try to sell the same asset for as high as possible. But what if there is no one willing to place their orders or there are not enough coins that you want to buy? This is why DeFi needs liquidity pools because when there are no market makers the exchange becomes instantly illiquid, AMMs always willing to buy or sell a particular asset, they provide liquidity to allow seamless trading in a decentralized manner without intermediaries.
May I introduce Aqua , which is a deflationary asset of the Coil Ecosystem.
AQUA
is designed to be a deflationary asset (token will be remove from the market) that will become more scarce over time and allowing users to farm and earn. The AQUA aim is to provide DeFi users and farmers a token that rises in value, becomes more scarce, and this will be the first farmable asset in the COIL ecosystem. AQUA will work similar to SAV3 and RFI and distribute to lps and holders in a deflationary manner. Whoever is holding AQUA will see their balances increase every transaction.
Design : Aqua(4% tx fee: Distributed as follows every tx)
Total supply was 17418, now after the burn it's around 17170
- 2% of those Aqua fund the AQUA/ETH rewards in the Aquifer (this fills the splash pool and is distributed when function is called)
- 0.3% goes to AQUA/COIL liquidity providers in the Waterfall (this fills the splash pool and is distributed when function is called)
- 0.7% distributes to all AQUA addresses (every tx)
- 1% is burned (every tx)
This gives AQUA the RFI/SAV3 distribution and makes AQUA deflationary on top of that.
With call function ( Splash lp's) keeping the gas costs down when users send AQUA, 2% that goes to the AQUA/ETH lps and the 0.3% that goes to the AQUA/COIL lps to be pooled in the contract address(splash pool).
ANY user can call this function at any time. When a user calls this function, they are rewarded with 5% of the total “splash pool” of fees. Once the function is called AQUA is distributed to lps in the AQUA/COIL and AQUA/ETH pools.
It allows those that add liquidity to basically double dip, as each transaction holders balances get a share of the fee and also each transaction lps get a share of the fee.
AQUA crowdsale/LGE event ended on 22 Dec 2020 and http://aqua.coilcrypto.com is live so you can track much Aqua has been burned+allows you to call Splash
POOLS -3 pools
COIL/ETH (Spring)
-the current main COIL pool that pays higher ROI in COIL. This works like an AMPL geyser but has an added feature. The longer you stay in the pool the higher the multiplier. You accrue 2x after 30 days and 3x after 60 days. After 60 days you keep your 3x multiplier until you withdraw. If you withdraw then redeposit, you start your multiplier over. On top of this COIL has added a CORE feature of permanent liquidity lock. When users withdraw from the Spring 2% is taxed. This tax permanently locks in liquidity creating growing liquidity and a rising price floor.
AQUA/COIL (Waterfall) — New pool
-Liquidity providers in this pool farm and earn AQUA. AQUA rewards fund itself and this reward pool by distributing 0.3% of every AQUA tx to lps in the pool. This distribution happens when a user(anyone) calls the Splash function.
AQUA/ETH-(Aquifer) — New pool
-Users that provide liquidity in this pool earn AQUA. 2% of AQUA tx fees go to lps in the Aquifer via rewards distributed once a user (anyone)calls the Splash function.
All AQUA holders share .7% of every AQUA transaction just for holding. Your balance updates every tx.
COIL is a perfect fit to go along with the deflationary AQUA, because COIL is elastic supply and rebases and debases. This will create arbitrage opportunities and generate volume between all of the pools driving higher returns, fees, and more demand. On top of this the ROI’s will fluctuate between pools creating opportunities for the lp’s to move around the system as well.
Contact and Details:
Website : https://aqua.coilcrypto.com/ more info : medium
Aqua contract address: 0x7e32c8727Cc19DD59a7a4d01b95Ae1cBFC8f4c77
(Make sure you always use the correct address so double check it every time ! )
- Ethplorer
- Coingecko.com
Community : Telegram , Twitter , Discord
