Introduction
If you’ve been part of the crypto community for a while, you must have tried adding liquidity using a protocol like Uniswap or Curve Finance. Being a Liquidity Provider is a great way to be apart of the crypto community and start making passive income.
But, what comes of your Liquidity Position (LP)? You probably just leave it in your wallet or farm it if there’s an option to, right?
What if i tell you that you can turn your LP to a Liquid Staking Derivative (LSD) and use it to provide more liquidity WITH cross chain compatibility?
This is what Entangle Protocol aims to achieve! In this blog, i’ll tell you all you need to know about Entangle Protocol. There’s even an airdrop opportunity so read till the end!
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What is Entangle Protocol?
Entangle Protocol is a omnichain dApp resolving liquidity problems across multiple blockchain networks.
Entangle Protocol achieves this through Synthetic Vaults, which is a LSD with cross chain portability. This is powered by their Entangle Distributed Oracle Solution (E-DOS).
Users are able to turn their LP into LSD using Entangle. This LSD can then be used on other DeFi protocols with cross chain portability. Creating new yield optimization strategies and capital efficiency.
This benefits other crypto projects as they earn said liquidity, which then they can use. Creating a win-win cross chain solution as users earn more yield and projects attract more liquidity.
Entangle Blockchain
The Entangle Blockchain is specifically designed for processing and validating oracle transactions featuring low gas fees and block times of 2 seconds. The Entangle Blockchain features EVM Compatibility using delegated Proof-Of-Stake (DPoS).
Leveraging their E-DOS, The Entangle Blockchain enables seamless connections between EVM and non-EVM compatible blockchain. Meaning, that virtually any chain can interoperate using the Entangle Blockchain.
Revenue Model
Entangle Protocol’s main revenue model comes from 5 different sources;
- Auto-Compounding Collateral Assets
- Performances fees on Synthetic Vaults
- Entangle internal DEX trading fees
- Blockchain gas fees
- Entangle Oracle Solution fees
Which is then distributed among 3 different categories;
- Staking Rewards
- Oracle Keepers
- Protocol Treasury
$ENTGL Token
Entangle operates on the $ENTGL Token which can be obtained through staking rewards and keeping oracles.
$ENTGL Tokenenomics are as follows;
- 45.6% Community/Infrastructure
- 13.4% Seed
- 12.4% Team
- 7.9% Private
- 7% Liquidity
- 6% Marketing & BD
- 4.6% Public
- 3% Advisors
With a total supply capped at 1.000.000.000 (1 Billion) Tokens, to reach a 50 Million dollar Fully Diluted Valuation (FDV), 1 $ENTGL Token needs to be worth $0.05 USD.
Incentives (Possible Airdrop)
Entangle Protocol have previously said on their twitter account @EntangleFi that active users that participate on their testnet will be rewarded.
With 45.6% of the total tokens reserved for community, it is safe to assume that they will be rewarding a good chunk of their tokens to testnet participants.
Although we are too late to participate in their first testnet, Testnet v1, we should be keeping an eye on their twitter account to not miss any other whitelist opportunities or airdrop campaigns.
Conclusion
Entangle Protocol aims to simplify DeFi and resolve liquidity issues cross chain. With their Synthetic Vaults technology, New yield optimization strategies would come giving us crypto degens more APR on our assets, whilst projects get more liquidity that they can utilize to further accelerate crypto mass adoption.
And that’s it for my blog today. I mainly post every Wednesday and Saturday so make sure to follow me and subscribe to get an email each time i post. Hope this blog helped you in some way and look forward to the next post!
DYOR.
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