Angle’s need for solid bridge solutions

Angle is a decentralized stablecoin protocol that prides itself on deep and capital efficient liquidity accessible across every ecosystem.

Fragmented stablecoin liquidity across different chains is a paramount source of friction for DeFi users as one often has to wait for several minutes and pay a slippage when transferring assets from one chain to another in search of new yield opportunities. Additionally, different chains have different wrapped versions of the same token depending on the bridge they were transferred with, rendering the UX even more confusing and difficult for end users.

It is to pave the way for such a future that Angle has decided to integrate with LayerZero bridging infrastructure to enable omnichain agEUR.

Integrating with LayerZero

As of today, users can bridge assets directly through Angle App agEUR between Ethereum, Optimism, Polygon and Arbitrum. Under the hood, LayerZero is the solution that is used to pass messages from one chain to another.

LayerZero recently emerged as one of the most promising, efficient, and safe generic messaging solutions. At the moment, Angle is utilizing LayerZero’s technology to enable cross-chain agEUR bridging, however they imagine more opportunities for inventive collaboration with LayerZero’s messaging protocol. For example, Angle x LayerZero could enable passing boosts from one chain to another. While LayerZero unifies agEUR liquidity across Polygon and optimistic rollups today, integration enables quick and easy omnichain liquidity and upgrades to zk-rollups in the future.

About Angle Protocol

Angle is an over-collateralized, decentralized and capital-efficient stablecoin protocol. The protocol has launched agEUR, the biggest decentralized Euro stablecoin in the market on Ethereum, Polygon, Optimism and Arbitrum.

Website | Twitter

About LayerZero

LayerZero is an omnichain interoperability protocol that allows dApps to build across multiple blockchains in a trustless, efficient manner. LayerZero connects dApps across chains using on-chain Ultra Light Nodes, which achieve the security of a light node with the cost-effectiveness of a middle-chain. Using the protocol, developers can turn their dapps into omnichain-applications using a single, simple interface.

Website | Twitter

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https://blog.angle.money/angle-integrates-with-layerzero-to-facilitate-cross-chain-bridging-of-ageur-475b68ca03f6

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Angle will become the first project to utilize Liquidity-as-a-Service with a euro-pegged stablecoin. Angle’s approval follows an initial proposal by the Paladin community.

What is agEUR-as-a-Service?

agEUR-as-a-Service (agEUR-aaS) is a new offering from Angle and Ondo to make it possible for projects issuing tokens to increase liquidity on decentralized exchanges.

This offering complements the already existing Liquidity-as-a-Service program from Ondo as it introduces the ability to build liquidity in a Euro-denominated stablecoin. This will better meet the needs of European protocols who now have the choice between USD or EUR stablecoins.

With agEUR-aaS, a project can deposit its token into an Ondo liquidity vault with a fixed duration. Angle will match those deposits with an equivalent amount of agEUR to form a liquidity pair. In exchange for providing agEUR, the Angle DAO will receive a fixed APR return on its provided liquidity.

How will agEUR-aaS benefit Angle & Paladin?

With agEUR-aaS, Paladin will achieve twice as much liquidity from the same amount of capital. As noted in PGP-10, agEUR-aaS is an incredibly cost-effective form of liquidity:

Currently there is 5.26% slippage for a 25,000 USDC buy, 7.93% for a 50,000 USDC buy and 12.56% for a 100,000 USDC buy…[this partnership] will add $1.1M of depth, enabling $50k trades under 4% slippage and raising trade volume by creating a third pool to arbitrage…[this program will] quell a temporary delay in liquidity depth with a significantly cheaper budget than liquidity mining.

Paladin will benefit from PAL exposure to another DEX, in this case Uniswap v2, without the need for costly liquidity mining (LM) incentives in the form of mercenary liquidity in order to grow liquidity. Despite being costly, traditional LM dilutes token holders and increases sell pressure on the token.

With agEUR-aaS, Paladin can also retain all trading fees and capture the potential upside value of the trading pair. This reduces the risk of impermanent loss (IL) and often outstrips the cost of capital.

For Angle, the vault will provide a stable APR while removing the risk of IL. Their agEUR stablecoin will gain further liquidity via another token pair, as well as form part of only three pools that PAL is traded in. This partnership allows Angle to increase the utility of agEUR while earning revenue for the protocol.

Angle now sets the stage for further partnerships with other token issuers who wish to utilize agEUR-aaS to gain cost-effective liquidity in the form of agEUR.

About Paladin

Paladin is a decentralized governance lending protocol deployed on the Ethereum blockchain which enables users to loan voting power in their governance token, or borrow voting power.

Website | Twitter

About Angle Protocol

Angle is a decentralized stablecoin protocol predominately deployed on the Ethereum blockchain. It is used to issue stablecoins, called agTokens, and claims to be starting with “the first liquid Euro stablecoin on-chain”.

Website | Twitter

About Ondo Finance

Ondo Finance is building a decentralized investment bank. They are building software that finds attractive investments across the traditional and DeFi landscape, repackages these assets into easily understood risk/reward offerings, and then matches and offers these assets to both institutional and retail investors.

Website | Twitter

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Angle is the first over-collateralized, decentralized and capital-efficient stablecoin protocol. It has launched agEUR which has become one of the biggest and most liquid Euro stablecoins in the market.

Angle is also a decentralized multichain protocol for issuing asset-backed stablecoins backed by major fiat currencies. Just like Fuse, the project has a strong focus on payments and decentralized finance, as well as broadening crypto adoption.

Stablecoins created through Angle are based on overcollateralization. However, made more efficient by relying on hedging agents and liquidity providers in addition to liquidity seekers. In its quest to make stablecoins more widely available, Angle received support from major venture capital investors.

Angle’s first stablecoin agEUR has recently become the largest Euro-pegged stablecoin by decentralized exchange (DEX) trading volume. And the collaboration between Fuse and Angle has allowed users to officially bridge agEUR to the Fuse Network blockchain via the Multichain platform. agEUR is currently available for trading on the agEUR/FUSE pool on the Voltage Finance DEX. Fuse has also launched a liquidity rewards program to incentivize liquidity providers on the pool.

The deployment of agEUR to Fuse is an important first step towards expanding the range of high-quality stablecoins available for projects, businesses and users on Fuse. Fuse will also be working closely with Angle on maximizing agEUR’s utility within the ecosystem as well as on exploring new collaboration modalities.

About Angle

Angle is the first over-collateralized, decentralized and capital-efficient stablecoin protocol. It has launched agEUR which has become one of the biggest and most liquid Euro stablecoins in the market.

Website | Twitter

About Fuse

Fuse is a platform featuring a fast and low-cost, Ethereum-compatible layer-1 blockchain, a robust plug-and-play mobile-centric crypto payments infrastructure for creating token-based applications and a rapidly growing ecosystem of payments, decentralized finance and NFT projects.

Website | Twitter

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