The Road Ahead . . .
Happy New Year!!!
We had a great end of the year. For one, we launched! Secondly, our TVL (total value locked) was close to hitting $100k, even though it has fallen since then. That’s okay, as we are all still early. Finally, and most importantly, we have built a great community that is truly supportive of Archly!
The above is all great, but alas, we are in a new year that has yet to be written. So, naturally, the sky is the limit. Before we go too far, let’s reflect on what Archly is all about. Archly aims to provide the deepest pools of liquidity, with the lowest fees and slippage, and the most visibility for new and existing projects on the Telos EVM (tEVM). In essence, Archly strives to be the de facto place for protocols to leverage boost their project. No need to enlist the help of a crowdfunding platform (which will charge a fee), make users jump through hoops for whitelist, create confusion with tiered offerings, and ultimately distract you from what it is you are wanting to accomplish. Also, crowdfunding really only caters to new projects with no existing tokens in circulation. Why should existing and established protocols be left out. That is where Archly is uniquely positioned to help projects help themselves. No middleman. No interviews. No permission required. Everything that is needed is within your control.
There are three simple steps:
- Spend Arc to whitelist your token
- Add initial liquidity to your pool (preferably using an Arc pairing 😆)
- Vote for your pool using locked Arc (veArc)
From there, the flywheel takes off.
Done. You are now free to focus on building out your protocol and marketing your project while giving your users a destination to freely trade with the lowest fees and lowest slippage. And by voting for your pool, your protocol earns the fees from that pool to help strengthen your reserves.
Vote for other pools to help diversify your war chest!
So, that is Archly in its current state. But what lies ahead?
Well, there are three areas that Archly will focus on to help propel us forward and continue building on what have done so far. Perpetual bribes (ahem, rewards), Decentralized Identity (DID), and Lending (including using NFTs as collateral).
By the way, veArc is a NFT. 😎
Let’s dive into each of these areas.
Perpetual Bribes
Right now we are in the process of obtaining funding for incentives from the Telos Fuel program. But what happens if the Telos Fuel program ends or decides to not give us more TLOS? Sounds like a dependency, and as everyone on the tEVM loves TLOS rewards, it’ll be a hard one to break. Besides that, Archly is all about being permissionless and empowering projects to be in control of their own future. So we need to break this dependency while also giving everyone what they want. We will need to be in control of the TLOS being given out as rewards. In other words, self-sufficient. How do we get there? Well the answer lies within a recent conversation with TJ. The short version is we become a block producer (BP). Thanks TJ! A portion of the rewards from producing blocks get set aside to maintain the infrastructure for producing blocks, but the rest is distributed as bribes to the various pool based using criteria that is not yet defined. With this in place, Archly will have a steady supply of TLOS to pump into the bribe machine to boost the APRs for voting for pools. Not to shabby if you are also providing liquidity to earn Arc emissions and using the new Arc to vote for the same pool. This is a win-win for everyone!
Ready to distribute your tokens?
Create a bribe to reward your loyal community members that voted for your pool to help build liquidity.
Decentralized Identity (DID)
Next up is an on-chain identity solution. It will start off on the tEVM and move over to other networks when the time comes. At the heart of the framework (protocol + network) is a way for a user to build a self contained history of interactions that, when taken in its entirety, creates a blockchain based reputation. Paid back a loan, +1 for you! Lent out some funds, +1 for you too! Over time, as the user builds more and more history, they create more and more reputation. For better or for worse. Hopefully, for the better. And by building a consistently positive track record, other protocols can use the reputation associated with the identity to make a decision based on the data points that are of importance to them. The best part is that the user does not have to reveal personally identifiable information (PII) as the historical data will speak for itself and best of all, you maintain control of your information.
Also sounds like another great opportunity to burn some Arc in addition to the token whitelisting fees that are already burned. 🔥
Lending
Once the DID framework is in place, we will turn our focus on building out a lending platform that can use traditional tokens as well as NFTs (did someone say veArc?) for collateral. This coupled with the DID framework mentioned above, will allow for more liquidity to flow across several asset classes. Got some veArc locked for 4 years? Use it to obtain access to some liquid capital for your next adventure! Got some stable coins sitting around? Put them to use and let them passively work for you!
With these 3 initiatives, Archly will be better positioned to keep TLOS rewards flowing, give user the ability to build their reputation (all on chain), and lend/borrow to unlock more efficient uses of their capital.
Well that is it for now.
Ready to join us on our journey follow us on Twitter, come talk to us on Telegram, or read more about us.
