Arable is the first decentralized synthetic farming protocol, making multichain farming accessible and convenient for everyone. Arable’s goal is to provide an environment where yield farmers can access all the crypto farming assets on a single chain, where the users still receive the same rewards as they would on native chains. The environment is supported by incentivized collateral providers (aka. stakers or minters) for synthetic assets.
At Arable multichain farming is done in a single app on a single chain and it is easy to keep an overview of all your farming activities. The complexity of managing multiple farms and employing involved strategies is greatly reduced.
Synthetic assets are essentially tokenized derivatives to support people to buy or sell specific assets on native assets’ price. For example, since the asset issuance format is different between Ethereum and Avalanche, assets cannot be cross-leveraged. Synthetic assets (or synths) solve this problem by replicating the assets on the target blockchain in the desired format.
“As yield farmers ourselves, we are acutely aware of the issues faced by the community for chain difference: security risks, the technological difference between chains, liquidity fragmentation, fees… We strongly feel that synthetic farming concept would provide a breakthrough in the field of yield farming and enable new ways to create, collateralize and use any asset in productive ways.”
— Arable
Arable provides access to any farm of any chain with their respective yields; in one place, without the hassle:
- Eliminate the complexity of cross-chain farming. Do all your farming deeds in one place.
- No more wrapping of assets. No more costly cross-chain briding.
- Forget high swapping fees. Forget slippage.
- Do away with the hassle of time-consuming bridging and its associated fees. We all know how sluggish some chains can be.
- Manage all your assets in one place. There is no need to keep track of multiple assets spread over numerous chains.
Take the friction out of yield farming! Join Arable, the first decentralized synthetic farming protocol.
How does it work?
Arable provides synthetic derivatives of native chain assets to speculators and farmers. At Arable, you do all farming and trading actions using so-called “synths”.
What are synths?
Arable provides a platform for farming and trading synthetic assets (synths). Synths pegged to either fiat currency or their equivalent native chain token. The names of the synthetic tokens are prefixed with the letters “ar” for “Arable”. For example, the synthetic version of USD is called arUSD. The synth for SOL and DOT are called arSOL and arDOT, respectively. All synths are backed by ACRE, the native token of Arable, and other assets like AVAX or USDT. You would typically purchase arUSD at a DEX like Pangolin and swap for another synth, i.e. arSOL, within the Arable app to enter the Arable ecosystem. You can then yield farm on any of the provided farms or speculate on price movements of their underlying assets.
Yield Farming
Arable provides synthetic versions not only of cryptocurrencies but also synthetic farming. This makes us unique in the DeFi space. Any synth you can buy at our DEX you can also farm. This includes synthetics of native chain tokens, LP tokens, etc…APR rates for farms are pegged to their native chain counterpart, just like synths. You will receive the same yield and won’t miss out on anything. You only gain peace of mind: Just farm and relax. Read more about what it takes to be a successful farmer at Arable: Farming
Launch Phases
The platform will launch in incremental phases, with a new set of features and capabilities added at each stage:
- Mainnet and Token launch
- MVP phase
- Growth Phase
- Scale phase
Medium article on the roadmap is available here
Work on Arable started in August 2021. For a short history on the creation of Arable you can read The Origin Story on Twitter.
What is the state of MVP features development?
- Contracts are in alpha state
- The UI is 80% finished.
What features are planned for Arable MVP?
- Introduction of synthetic assets and synthetic farms
- Minting of synthetic assets (synths) will be supported
- Farming and trading of synths will go live
- Validators will provide oracle services for asset price data and reward rates for synthetic farms.
Q&A
AT: What are you currently working on?
Arable: There are too many tasks to list but some of our main development priorities are building a liquidation bot and security enhancements of the MVP features.
AT: Are you planning an audit or code review?
Arable: Independent audits by multiple providers will be conducted when Arable MVP features launch.
When the Arable app launches initially, informal code auditing and checking will have been conducted via our testnet competition, our development team, and through our bug bounty program.
AT: Is Arable a fork of Synthetix?
Arable: No, Arable is built from scratch, although we use a similar mechanism for collateralization and pooled debt.
Airdrop
Who is eligible for the Arable airdrop, and what are the conditions?
Users of the following platforms are eligible for the airdrop of ACRE tokens:
- Lobster DAO NFT holders
- AVAX holders
- SNX holders, and collateral providers
- PNG holders
At present, 10% of the airdrop has already been given to individual wallets. By following the process on the airdrop page of the Arable website, eligible users will have the opportunity to get familiar with the project by using the platform and helping us to have a larger educated user base. While using the platform, the criteria of the airdrop will slowly be met, and the full airdrop amounts will be distributed.
The Airdrop is valid until after six months from the launch, and there’s no lock period on airdropped tokens. There are approximately 60K+ members that are eligible for the airdrop, and there are 40 million ACRE tokens allocated for the airdrop.
Where can users get more free tokens, other than the airdrop?
Arable users can participate in upcoming Arable competitions or be active in the community and help grow the community. Arable also has regular bug bounties for the technically minded Arable users that help identify any bugs in the protocol. The Arable social channels are constantly monitored, and we take note of users that help.
Tokenomics
Arable’s native token is called ACRE. The ACRE token is also used as a utility token and a governance token. The maximum supply of ACRE is 1 billion, and the initial supply is 100 million. Every year there will be new ACRE tokens released. The tokens being released will be cut by one-third ⅓ every year. For the first year after the initial supply, there will be a 300 million ACRE supply. There will be a 200 million supply for the second year, and there will be a 133 million supply for the third year. This pattern of supply will continue until depletion.
There is a 22.5% allocation of the total supply for team members and a 40.5% allocation to liquidity miners. For stakers and delegated stakers there is a 22.5% allocation of the total supply, and 4.5% of total supply is allocated for community incentives spending.
Arable also has a strategic reserve for OTC deals. The initial supply will be distributed with a strategic reserve of 60 million and 40 million distributed through the airdrop program.
What is ACRE?
Arable’s native token:
- Governance token of the Arable protocol
- Fee token for using the protocol
- Reward token distributed to validators, liquidity miners, delegators, and stakers.
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