Avault - dApp Staking Application

Astar Initiatives Approved proposals
1

Hi everyone in Astar ecosystem. This is Avault team. Already two weeks passed after we launched our ZAP and Vault function. We would like to apply to join dAppStaking to better contribute to Astar.

Website: https://www.avault.network/

Overview

Avault is a yield aggregator platform that provides aLP/aToken to DeFi users with automated compounding yields at empirically optimal intervals while pooling gas fees through smart contracts and best yield optimization strategies. At the same time, Avault is also a launchpad by using a whole new public sale strategy, which is called ISO.

What is aLP/aToken?

aLP/aToken is the receipt of your deposited LP/token. At the same time, it is an interest-bearing asset token. Every interest-bearing token will earn interest automatically, even if users only hold it without doing anything. Users can also stake their aLP/aToken into our farm to earn $AVAT.

Why aLP/aToken?

The reason why we create the aLP and aToken is to try to rich the ecosystem. Even if the Avault token is all distributed in the future, the LP that users deposited in Avault can still be used by other projects.

We believe that aLP/aToken can become an essential part of the ecosystem. The aLP/aToken can unlock the value of staked assets in the liquidity pools. All the defi projects can do lots of things by using our aLP/aToken. Let’s say layer 0 is the asset on the ecosystem, for example the LP and the asset on dex, lending protocol, or other dapps. Then the layer 1 will be the aLP/aToken. It is because users can deposit all their layer 0 asset into Avault to receive aLP/aToken. They can still receive their revenue from dex, lending protocol or other dapps. At the same time, users can stake their aLP/aToken to farm AVAT token for higher returns. They can also stake their aLP/aToken to other dapp for more use cases. Such as they can use it as collateral on lending protocol, aLP/aToken will have less risk of liquidation compared with single token, because the value of aLP/aToken continuously increasing. There are many other use cases to that aLP/aToken can be applied. aLP/aToken can maximize the asset utilization on Astar ecosystem. So Avault is not only a simple yield aggregator, we are trying to enrich the whole Astar defi ecosystem. Every defi user can benefit from this mechanism, and when the XCMP is available, aToken could also benefit all the Polkadot users.

What is ISO?

ISO means Initial Stake Offering. 50% of users’ principal will be used for adding initial liquidity with the project’s public sale token. 40% of users’ principal will be used to create an ISO reward pool for the loyal holder award. 10% will be used for team operation and development. With this mechanism, ISO participants are guaranteed to get back at least 40% principal(Calculated by Currency Standard) if they are loyal holders.

Why ISO?

Under the bear market, we believe that it would be difficult for the developer to raise the money from IDO. It might be because of the bear market situation and the users’ fear of losing all their money. It is reasonable that users do not want to take that high risk. However, this would be very hard for the builders to get through the bear market without operation fees.

Therefore, we designed ISO. We hope to rebuild the trust between users and projects via ISO. As we know, there are many users who may lose money on different IDO, especially in this market situation. We can’t guarantee participants must get 2x or 10x revenue, what we can guarantee is that participants would never lose all or even 90% principal.

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Team

Ericsson: Operation
Sam: Smart contract/ Backend
Alex: Product manager
Hai: Front-end engineer
Lee: UI/UX designer
Edmund: BD

Roadmap

2022.Q3

  • Listing on CEX
  • Zap function upgrade
  • Support more dapps on Astar
  • Public sale
  • ISO launchpad development
  • Governance

2022.Q4

  • Expand the use case with other Polkadot parachain project
  • Vault V2 with auto strategy
  • Governance upgrade

Useful link

Twitter: https://twitter.com/Avault_Astar
Discord: Avault
Medium: Avault – Medium
DOC: Overview - Avault
Github: Avault · GitHub

Let us know if you have any questions!

8 Likes
2
Approve Avault to dApp staking on Astar
  • Yes
  • No

0 voters

3 Likes
3

My thoughts:
1.Yield Aggregator and ISO launchpad do not add any long term value to the Astar and Polkadot ecosystem, on my opinion.
2. Vault Logo looks too similar to Avalanche logo. It looks like team not care much and do as fast as they can.
3.Anonymous team
I am ok that such a projects builds on Astar , because it stated as permissionless , but I can’t support it as dApp staking program member, sorry guys.

2 Likes
4

Hi Alex! Thanks for your reply! I am happy to explain your thoughts

  1. As I mentioned above, we definitely can bring long-term value to the Astar and Polkadot ecosystem. It is because we can release the liquidity of the asset from DEX, lending protocol, etc. We can provide more flexibility to Astar and Polkadot users. By using the aLP/aToken, it can easily boost Astar’s TVL. Let me give you a use case to explain how we can do this. For example, there is a user adds $100 USDT-USDC LP in Arthswap. Then this user can deposit this LP token into Avault, we will help this user to auto-compound his/her revenue and give him/her an aLP token(aUsdtUsdc) as a deposit receipt. After that, this user can stake this aLP token into Avault’s Farm or other dapps, such as Sirius, Kagla, etc to earn more revenue. That means the $100 TVL from Arthswap can become $300 TVL via Avault. The most important thing is every project’s TVL can be triple counted via Avault theoretically.
    In addition of TVL, we will also buy back $ASTR with our vault fee. It is because we will reward our users who stake in our Governance with AVAT-ASTR LP. This LP reward is come from the vault fee. That means there are more $ASTR be buyback if we have more TVL. We will grow with the ecosystem and feed the ecosystem back.
    About the ISO launchpad, we believe that can rebuild trust between users and projects. That can help to attract projects to build on Astar and Polkadot. Every project needs funds for development and operation, especially new projects. Under the current market situation, it is hard to attract users to join the new project’s public sale. ISO launchpad can lower the risk of getting involved in the projects. More new projects will be created once more users of Astar or Polkadot are willing to support new projects.

  2. As I know, the Avalanche has already changed their logo to the new one. That’s why we still use our current logo. We also receive feedback like you, but we are now focusing on product development. We already had a plan to upgrade our logo and UI in the future.

  3. We are not an anonymous team, Astar team knows all of us. We joined some AMA before with the video cam. Also, we used our own pictures to join the AMA. You can find it on our Twitter. You can know what we look like.

Please let me know if you have any other questions for us. I think it is a good time to let more people know more about us

3 Likes