OAK Network & Mangata: XCM Liquidity Pool Auto-Compounding

Published on: 26.02.2023
OAK Network & Mangata

OAK Network & Mangata: XCM Liquidity Pool Auto-Compounding

Introduction

After the $TUR successful bootstrap on the MangataX DEX. The Turing Network now offering technical functionality to auto-compound liquidity rewards for MGX liquidity pairs including $TUR:$MGX. The auto-compounding partnership between Turing and MangataX was established through the creation of key infrastructure. To allow XCMP calls across parachains to schedule future transactions. Firstly it will be use to auto-compound MGX liquidity pools but the infrastructure can still be used for even more advanced & complex actions.

Using Auto-Compounding

The auto-compounding functionality allows developers to use Polkadot.js to set up automatic claiming of liquidity pool rewards on MangataX. Then automatically add the claimed rewards into a liquidity pool. Individuals may set their own percentage threshold and use the schedule parameter to choose to execute tasks at fixed times or recurring. Combining these actions creates a variety of use cases that we are excited to see how our communities utilize.

The Future

OAK Network is happy to be collaborating closely with Mangata to offer innovative new functionality to the ecosystem. MangataX continues to create more liquidity pairs, such as their recent listing of ZLK, and our team is excited to create auto-compounding for more parachain tokens.

About OAK Network

OAKNetwork layer one blockchain that enables multi-chain applications to automate single or recurring transactions using a simple transaction instruction. The OAK unlocks a diverse range of rich DeFi user experiences including scheduled and recurring payments, stable-cost-averaging, stop loss & limit orders, and non-custodial copy trading.

Source

REQUEST AN ARTICLE

Market Stats:
BTC Dominance: 53.54%(+0.08%/24h)
ETH Dominance: 15.89%(-0.03%/24h)
Defi Market Cap: $92.85B(-14.43%/24h)
Total Market Cap: $2438.98B(+1.81%/24h)
Total Trading Volume 24h: $62.6B(+2.08%/24h)
ETH Market Cap: $387.23B
Defi to ETH Ratio: 23.98%
Defi Dominance: 3.63%
Altcoin Market Cap: $1133.23B
Altcoin Volume 24h: $38.61B
Total Cryptocurrencies: 29301
Active Cryptocurrencies: 9733
Active Market Pairs: 81657
Active Exchanges: 753
Total Exchanges: 8362
BTC: 66325.19$(0.67%/1H)
ETH: 3226.65$(0.82%/1H)
AVAX: 38.93$(1.51%/1H)
BNB: 608.19$(1.43%/1H)
MATIC: 0.74$(0.68%/1H)
FTM: 0.79$(1.12%/1H)
ADA: 0.51$(0.89%/1H)
DOT: 7.46$(2.04%/1H)
UNI: 8.03$(0.87%/1H)
CAKE: 3.05$(1.58%/1H)
SUSHI: 1.06$(0.83%/1H)
ONE: 0.02$(0.81%/1H)