Entangle Protocol - The Universal Liquidity Layer Cross-Chain Liquidity DApps Powered by Synthetic Derivatives

Username

s.korolev@entangle.fi

Grant Description

Initial Liquidity to offer Synthetix products synthetically on Elrond / Solana /Tezos Blockchains. Integration & Development cost for Synthetix on Elrond /Solana / Tezos.

Overview

Entangle is a cross-chain DeFi Protocol utilising synthetics for liquidity provision and yield access, whilst allowing users to borrow against their synthetic collateral in the native overcollateralized Entangle Stablecoin: enUSD.

Entangle empowers users through its network of Limit-Order Book Internal DEXes to exchange between USDC and Synthetic LPs which are cross-chain representations of LPs which reflect real-time yield based on the compounding of the underlying LPs. The protocol will eventually expand to wider yield bearing products that can be replicated synthetically cross chain.

To account for the compounding of the underlying LPs in amount additional SynthLPs are not minted, rather that is reflected in the value of the SynthLPs. Users can thus provide Liquidity from Any Chain to Any Chain in one simple step: no more adding new networks or setting up new wallets.

Entangles product of cross-chain Liquidity Provision is made possible through initial liquidity providers on-chain & its framework of Internal DEXs consisting of pools split between Synthetic LPs and USDC, which is powered by Entangles own custom DPoS Tendermind based blockchain & oracle solution connecting all EVM & Non-EVM Chains alike.

Entangle 3rd Product Single Asset Liquidity Provision allows users to be paired with each other in time-locked bonds for Liquidity Provision, while being protected against a certain percentage of Relative Impermanent Asset Loss, that is secured by a portion of both users' rewards locked in a smart contract together with a fraction of any impermanent win occurred and a part of Entangle´s DAO Treasury.

Value to Synthetix

Opening up possibilities of liquidity cross-chain to come to Synthetix Products & DApps. Product of Single Asset Liquidity Provision of Synthetix Assets based LPs. Cross-Chain Stablecoin accepting Synthetix assets which can be used on Any chain.

Project Implementation Plan

White Paper & Documentation - Done MVP through centralized Oracle of Synthetic LPs on Ethereum, BSC, AVAX & FTM - Done MVP Expansion: Elrond: Before end of July 2022 Seed Round: 60% done, ETA Mid August Entangle Custom Blockchain: In Development, ETA End of August Entangle Custom Decentralized Oracle: Mid September Moving MVP to Decentralized Oracle & Custom Blockchain: September End EnUSD Stablecoin: October Single Asset Liquidity Provision: End of Year 2022.

Additional Information

Website: https://entangle.fi/ MVP Testnet: (private testnet, can be whitelisted upon request): https://dev.entangle.fi/ Discord: discord.gg/8vvc6EYD6e Twitter: https://twitter.com/Entanglefi LinkedIn: https://www.linkedin.com/company/entangle-protocol/ Telegram: https://t.me/entangle_community Medium: https://medium.com/@entanglefi GitHub: (Private but can be opened for select parties signing an NDA. GitHub has already been reviewed by AVAX Foundation) Lite Paper: /docs.entangle.fi

Partners & Investors

Bigbrain holdings Seier Capital - Ex Founder of Saxo Bank Cogitent Ventures SkyNet Capital (Elrond foundation Fund) Kairon labs Mapleblock capital B2B Brokers Verum capital & RegDeFi labs TulipDaO Avax Foundation Fantom Foundation Elrond Foundation Concordium Foundation TraderJoe SpookySwap SpiritSwap Blockmates

Funding Request

$100,000 Integration of Synthetix Products based LPs issued Synthetically on Elrond, Tezos & Solana. Initial Liquidity for these as well.