Entangle Protocol
{"type": "project", "title": "Entangle Protocol", "logoImg": "bafkreibxtvxfv466tesxhpb6fa56egbryige5y7sqtee6l6ehpw2rcnuvi", "website": "https://entangle.fi", "bannerImg": "bafybeibdxrmxyqwbpyn5cmc2lpmwndpfv4bazxedcjtdoaoeeszecgspfq", "createdAt": 1669997750476, "userGithub": "", "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..B3pxjfPlRt5LLpUqZBBR86nRyHxLPKG_liygLc54fQ9ADGyqtNufXWLX5TLUXNJCDbrDSEfRRJlt2W-t7aa8Bg", "type": "Ed25519Signature2018", "created": "2022-12-02T16:15:39.645Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2022-12-02T16:15:39.645Z", "expirationDate": "2023-03-02T16:15:39.645Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x19796cdEe4b4eeffE8020787C9Ed20a1738a3ff4", "hash": "v0.0.0:oKTufYUOCW1yS6El3080wdEaIpKxGeq+faHxvFUMIeE=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#Entanglefi"}}}, "description": "Entangle Protocol consists of 2 dApps and an infrastructure layer composed of an oracle system (Entangled Distributed Oracle Solution) and an oracle-specific blockchain.\nInfrastructure Layer\nEntangle Oracle Blockchain is an EVM Blockchain specialized for storing, distributing, verifying and validating information created with the Cosmos SDK based upon Ethermint with an addition of EVM Module. Entangle Oracle Blockchain facilitates Entangled Distributed Oracle Solution to facilitate transactions for all the Entangle applications and developers needing an efficient, secure and cost-effective Oracle Solution.\nEntangled Distributed Oracle Solution can help any dApp on any blockchain for the collection, storage, verification and validation of data in order to replicate states cross-chain and automate their smart contracts given their respective event-triggers, giving benefits such as:\nOracle-Specific Blockchain (Not burdened with other transactions)\nCheap Gas and Customizable Parameters (Partners can define their own logic and expenses)\nUser-Friendly for Developers (Write contracts in Solidity)\nDevelopers can launch self-defined Spotter Smart Contracts inside Entangle Blockchain and hire keepers with their custom Oracle Backend Off-Chain Scripts to collect information to be verified, processed and redirected towards their aggregator smart contract connected to their dApp for event triggers and data-upkeep.\nDevelopers can hire as many or few keepers as they need depending on the sensitivity of the data and set their own consensus parameters within the spotter smart contracts.\nBy virtue of its infrastructure, Entangle is able to simplify access and aggregation of liquidity across different blockchains and to provide secure opportunities for protocols to scale their liquidity cross-chain. Along with routing liquidity cross-chain to protocols, Entangle has built mechanisms which maximize liquidity retention and capital efficiency to incentivize sticky and loyal liquidity in the DeFi Space.\n \nEntangle dApp 1) Cross-Chain Liquidity Aggregation through Synthetic Vaults\nOne example of Synthetic Vaults are Synthetic LPs mirroring the state of the base LP asset on a different chain.\nSynthetic LPs are minted 1:1 to Physical-LPs and are based on an initial pre-liquidity given by liquidity providers, to be scaled given demand by intricate rebalancing mechanisms whilst avoiding the usage of 3rd party physical bridges.\nUsers can be exposed to yield cross-chain without ever having to leave their “home” chain through Entangle's Internal Limit Order Book DEXs, by exchanging Synthetic LPs on any chain representing LP positions on any other chain.\nEntangle dApp 2) EnUSD - Fully Collateralized Cross-Chain Stablecoin\nUsers can borrow EnUSD against their Synthetic LP tokens as collateral ensuring both capital efficiency for the users, and sticky liquidity for the protocols which host the underlying physical LP of the Synthetic LP token.\nEntangle hosts Liquidation Engines for EnUSD natively on each chain with dynamic LTV parameters, minimizing impacts of black swan events by optimizing liquidation rates real-time based on volatility and underlying asset health.\nEntangle is actively partnering with perps and other derivative protocols to bring further utility to Synthetic LPs. Users can provide Synthetic LPs to perps protocols to achieve an APY% return, whilst protocols can use cross-chain liquidity as a base achieving a higher possibility of scalability.\nEntangle aims to act as a universal liquidity layer empowering a truly omnichain future with stronger and more fluid connections between blockchains, allowing more opportunities for users, protocols and chains to emerge.\nImpact of Entangle\nAny protocol on any chain can further scale by attracting omni-chain liquidity from users it didn’t have access to before - most importantly they can attract efficient and sticky liquidity from any chain as users can borrow EnUSD with yield-bearing assets (Synthetic LPs) as collateral and Synthetic LPs can be recycled into derivative protocols.\nThrough Synthetic Vaults users are able to provide liquidity from any chain to Optimism in one-click without having to bridge assets, administering multiple wallets and going through multiple steps and transactions, helping OP to attract liquidity from chains it previously could not and ultimately a larger user base in an easy and intuitive way for the end-user.\nGiven demand, Entangle can scale the initial liquidity deposited on OP without relying on 3rd party external bridges in most circumstances through its “Soft Rebalancing” mechanism, achieving seamless accessibility for any user on any chain within the Entangle Framework.\nFurthermore, Entangle users can provide their Synthetic LPs (based on underlying liquidity provided to an OP dApp) to derivative protocols such as Rage Trade to be used as base liquidity for their perps strategies.\nThis enables users to earn additional revenue on top of being exposed to yield by providing liquidity to an OP dApp, indirectly incentivizing them to stay invested, achieving sticky and loyal liquidity for OP dApps.\nA real applicable process example:\n(2 types of Entangle users; Liquidity Providers and Normal Users)\n→ example with Velodrome Finance on OP\nLiquidity Providers lock their USDC within Entangle for 3, 6 or 12 Months, by choosing either a Stable Vault or a Mixed Vault\nOn the basis of USDC locked and which type of Vault, Entangle will get LP Tokens on Velodrome Finance by providing Liquidity, and accordingly mint Synthetic LPs on each chain's Internal DEXes, divided equally within the Entangle Framework\nEntangle autocompounds the LP tokens, and as these rise in amount and price, Entangle's Oracles relay this information to other chains Internal DEXs for users to realize the yield on their Synthetic LP Tokens\nNormal Users have USDC in a wallet on any network of choice within the Entangle Framework\nUsers select a pool (Synth-Vault) they would like to be exposed to (e.g OP/USDC), by depositing USDC in exchange for Synthetic LPs\nGiven enough demand and an overflow of USDC in that Internal DEX, a rebalancing event is triggered for scaling purposes, where there is more USDC deposited into the underlying LP on Velodrome Finance, and more Synthetic LPs minted on other chains.\nUsers have now a yield-bearing Synthetic LP, which can be used for:\n     \nDepositing the Synthetic LP as collateral to Borrow EnUSD, which can be used for transactional purposes on any chain within the Entangle Framework or in the Entangle DAO, as EnUSD holds governance powers proportional to $ENTGL tokens.\n\nEarning more yield by recycling this liquidity into derivatives protocols.\n\n\n", "logoImgData": {}, "bannerImgData": {}, "projectGithub": "https://github.com/Entangle-Protocol", "projectTwitter": "entanglefi"}