#XCM Archives - Smart Liquidity Research

OAK Network & Mangata: XCM Liquidity Pool Auto-Compounding

Ana Marie — Sat, 25 Feb 2023 21:09:10 +0000

OAK Network & Mangata: XCM Liquidity Pool Auto-Compounding

OAK Network incredibly excited to show off the cross-chain message passing capabilities of the Turing Network in partnership with Mangata. To offer auto-compounding of liquidity pool rewards on the MangataX decentralized exchange!

The OAK Network & Mangata are proud to be pioneering parachain cross-chain functionality for the Kusama & Polkadot ecosystems.

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.

The auto-compounding function utilizes the XCM compoundRewards call to schedule a future event on the Turing Network parachain which triggers an action on the MangataX parachain. By using the XCM protocol all user funds are secure and the action is completely non-custodial. The OAK team believes this impressive demonstration of the the key advantages for parachains on Polkadot & Kusama & the potential for XCM.

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.

Outside of MangataX the Turing Network & OAK Network is working to create automation and auto-compounding for other platforms and exchanges across Kusama & Polkadot.

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.

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XCM Cross-Chain Compatibility is Coming to AstridDAO

Ana Marie — Thu, 27 Oct 2022 14:22:39 +0000

XCM Cross-Chain Compatibility is Coming to AstridDAO

XCM Cross-Chain Compatibility is Coming to AstridDAO. Cross-chain activities always involve instabilities, higher risks, and more costs, including but not limited to the loss of property, more waiting time, gas fees, and failures in transactions due to the incompatibility of the two chains. And this is even true between parachains

Even though there are cross-chain bridges, you may have enough of related notorious hacks. So is there a safer, more reliable, and viable way to transfer tokens, assets, and collaterals across chains?

YES! The answer is XCM. And in the future, AstridDAO will follow the latest development of Polkadot XCM to make the free exchange of assets between parachains possible!

What is XCM?

XCM is short for Cross-Consensus Message Format, it is a general way for consensus systems to communicate with each other.

Though, before XCM, there were several kinds of consensus systems, all of them have their format of transmitting messages and cannot communicate with each other.

The goal for XCM is to connect all of them in Web3. Different chains may have their own ‘dialects’, but XCM can be the ‘mother tongue’ that is understandable on all chains.

What can it bring to AstridDAO?

First, with XCM being applied, BAI, the stablecoin in Polkadot, can flow freely to other parachains and will have more use cases, such as the payment method in more Metaverses.

Besides, DOT, GLMR, and other collaterals can be deposited in AstridDAO to borrow BAI, which means you can use BAI to leverage the value of more risky assets without selling them.

Likewise, BAI can be used in other parachains as a means of value storage to fight against the high volatility of cryptos. You can also add BAI to more liquidity pools to earn more rewards.

In the future, with the development of XCM, there is more for us to expect in Web3. We are working closely with Astar and other parachain teams to make BAI cross-chain compatible via XCM now. Please stay tuned and wait for our exciting news.

About AstridDAO

AstridDAO a decentralized money market protocol and multi-collateral stablecoin built on Astar and the Polkadot ecosystem, allowing you to borrow $BAI, a stablecoin hard-pegged to USD against risk assets at 0% interest and minimum collateral ratio. This mechanism enables you to leverage the value in your risk assets, including $ASTR, $BTC, $ETH, and $DOT, without selling them.

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XCM Comes to AstridDAO

Lida Dinnero — Tue, 25 Oct 2022 17:34:25 +0000

AstridDAO will follow the latest development of Polkadot XCM to make the free exchange of assets between parachains possible.

What is XCM?

XCM is short for Cross-Consensus Message Format, it is a general way for consensus systems to communicate with each other.

Though, before XCM, there were several kinds of consensus systems, all of them have their format of transmitting messages and cannot communicate with each other.

The goal for XCM is to connect all of them in Web3. Different chains may have their own ‘dialects’, but XCM can be the ‘mother tongue’ that is understandable on all chains.

What can it bring to AstridDAO?

First, with XCM being applied, BAI, the stablecoin in Polkadot, can flow freely to other parachains and will have more use cases, such as the payment method in more Metaverses.

Besides, DOT, GLMR, and other collaterals can be deposited in AstridDAO to borrow BAI, which means you can use BAI to leverage the value of more risky assets without selling them.

Likewise, BAI can be using in other parachains as a means of value storage to fight against the high volatility of cryptos. You can also add BAI to more liquidity pools to earn more rewards.

About AstridDAO

AstridDAO is a decentralized money market protocol and multi-collateral stablecoin built on Astar and the Polkadot ecosystem, allowing you to borrow $BAI, a stablecoin hard-pegged to USD against risk assets at 0% interest and minimum collateral ratio. This mechanism enables you to leverage the value in your risk assets, including $ASTR, $BTC, $ETH, and $DOT, without selling them.

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SOURCE:

https://medium.com/@astrid_dao/xcm-cross-chain-compatibility-is-coming-to-astriddao-a66bb754b852

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