Archly Integrates Chainlink Automation to Power Weekly Arc Emissions

We’re excited to announce that Archly — a liquidity solution for protocols on a wide range of EVM chains to properly incentivize liquidity for their own use cases — has integrated Chainlink Automation live on the Arbitrum One, BNB Chain, Fantom, Optimism, and Polygon mainnets. We are leveraging Chainlink Automation to securely and cost-efficiently trigger the Update Period which mints and distributes Arc used to provide emissions for out liquidity providers on a weekly basis. As a result, the creation and distribution of Arc emission is now more decentralized and robust by relying on an on-chain solution versus the previous cron based automation scripts.

We decided to use Chainlink Automation to power Archly’s Update Period function because it is the most reliable Web3 automation service. The Chainlink Automation Network is operated by the same pool of time-tested, provably reliable node operators that currently help secure tens of billions of dollars in DeFi, even during record levels of network congestion and extreme volatility. The proven infrastructure of Chainlink helps ensure that every Update Period is executed on-time in a trust-minimized manner, giving users additional guarantees that it will function exactly as intended.

Archly is a decentralized exchange (DEX) that uses ve(3,3) mechanics and Curve style pools to allow users to efficiently trade by building a base layer of liquidity across any chain. Bribes paid by protocols and their supporters along with 100% of the trading fees are used as rewards for $veArc holders to vote for a pool with the protocol’s token. The votes of the $veArc holders decide how much of the weekly $Arc emissions are distributed to the protocol’s pool which encourages liquidity providers to add more assets to the protocol’s pool. As the liquidity in the protocol’s pool increases, more trades start to occur on the protocol’s pool due to low fees and low slipage generating trading fees to be distributed to the $veArc holder creating a closed loop known as the Archly Flywheel.

A critical piece of the Archly Flywheel is the weekly emission of $Arc tokens that are used to reward the liquidity providers of Archly. It is vital that the process of minting and distributing the $Arc tokens (done by calling the Update Period function) has a consist cadence to ensure the the Archly Flywheel spins smoothly. It is also important as Archly continues to build out the Rainbow Road that we decentralize crucial components of Archly’s infrastructure. That is why Archly trusts Chainlink Automation with this responsibility to make sure that the Archly Flywheel keeps going forward.

Chainlink Automation is a decentralized service purpose-built to manage tasks on behalf of smart contracts. Chainlink Automation leverages decentralized, hyper-reliable, and economically incentivized automation nodes to wake up smart contracts when they need to perform critical on-chain functions, which usually take place at regular time intervals (e.g., every day at the same time) or based on external events (e.g., when an asset hits a specific price).

Some of the notable features of Chainlink Automation include:

• Highly reliable, performant, and decentralized automation — Chainlink Automation ensures transactions are identified and confirmed quickly even during periods of heavy network congestion by leveraging Chainlink’s battle-tested transaction manager.
• Time-tested infrastructure that helps save costs — Chainlink Automation enables us to eliminate in-house automation infrastructure costs, reduce resources spent on DevOps, and increase speed and efficiency.
• Built to enable faster scaling — Chainlink Automation enables us to scale faster and avoid the challenges that come with building and maintaining the infrastructure needed to reliably automate across multiple chains.
• Unlocks new use cases — With smart contract automation, we’re able to explore new use cases and unlock capabilities that would otherwise not have been possible.

Going forward, Archly will continue to integrate more Chainlink products such as Cross-Chain Interoperability Protocol (CCIP) and Programmable Token Bridge to help the Rainbow Road enable Archly’s vision to scale while providing a seamless experience across any chain. Archly will also use cross messaging protocols to extend the reach of Chainlink’s products, like Chainlink Automation, to bridge the infrastructure gap on chains so Archly can fully decentralize its operations and allow it to be resilient and reliable.

“We selected Chainlink as one of our Rainbow Road partners due to current and future products they offer. These products combined together can help to make the Rainbow Road fully decentralize in terms of infrastructure and operations by replacing web2/off-chain components in Archly with equivalent web3/on-chain components. This means that Archly can continue to operate as it does today by removing bottlenecks, including me 😆, and smoothing out friction points to allow the Archly Flywheel to keep spinning on any chain.” — Tec

About Chainlink

Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Archly

Archly, at its core, is a liquidity solution for protocols on a wide range of EVM chains to properly incentivize liquidity for their own use cases. Building on top of the groundwork laid out by Solidly, our team has addressed that first iteration’s core issues to realize its full potential.