Abel Finance X AptosLaunch: IDO Announcement
At the forefront of the Aptos ecosystem, AptosLaunch has the fortune of meeting a mass number of DeFi, NFT and GameFi developers everyday. Among the projects we’ve known for some time, Abel Finance is perhaps one of our longest-standing relationship. Not only they have joined our Spaceport Incubation Program, they are also well supported by the Aptos Foundation and community. AptosLaunch is proud to announce Abel Finance as our next IDO.
Project Overview
At its core, Abel Finance is the First Cross-Chain Lending Platform built on Aptos and Sui — bringing mass liquidity into the Move ecosystem. Some quick facts:
Abel Finance
The First Cross-Chain Lending Platform — built on Aptos and Sui
- Various Coins and “AMM LP Coins” and NFTs are supported for lending
- Support cross-chain lending on Aptos and Sui
- Multi chain assets liquidity with seamless UX — allows for cross chain lending
- Transparent Treasury Insurance
- Fully decentralized community autonomy
- Referenced an implementation of CompoundV2 and was implemented using the MOVE language — with enhanced security and customization
Updates and Roadmap
Abel Finance has been worked on for some time now and is developmentally quite far along compared to many competing projects. They are currently at Stage 3 of their roadmap, and we are excited of what lies ahead for them in the near future:
- Farming will be available shortly after listing; with the initial APT-ABEL liquidity pool
- Early entrants will realize favorable yields
- Airdrop Plans
- Voting and support of additional coins & NFT for lending
- Deployment on Sui mainnet (in addition to Aptos mainnet)
Protocol Overview & Workflow
There are 4 capital pools:
- LP Coins pool (support mainstream LP Coin)
- Supply pool (support mainstream Coin)
- Insurance pool (Fund from Abel finance treasury)
- NFT Pool
The Main Participants Involved
1. The LP pledger (borrower）：
- Deposit LP to obtain credit, use credit to borrow assets (similar to Aave and Compound)
- Support mainstream LP pledge
2. Rights and Interests
- Pledge to obtain credit
- Different LPs have different excess borrowing rates
- Can be dynamically adjusted
- Pledged airdrop incentives
2. The Liquidity Provider (Lender)
- Deposit token to provide liquidity into the market
- Support mainstream Coins
2. Rights and interests
- Interests income from borrowing
- Additional liquidity provides incentives
3. The Liquidator
When the borrower reaches the liquidation threshold, the liquidator repays the borrower to obtain the Collateral involved (LP Coin/Coin/NFT)
- Rights and interests
- The liquidator will get 8% discounted (such as, repay 100USDT debt and get 108USDT collateral)
4. Abel Finance Project
A) Community Operation
B) Project Maintenance
C) Insurance Pool Operation
Workflow
aTokens
Each asset supported by the Abel finance Protocol is integrated through a aToken contract. By minting aTokens, users:
(1) earn interest through the eToken’s exchange rate, which increases in value relative to the underlying asset, and
(2) gain the ability to use aTokens as collateral.
aTokens are the primary means of interacting with the Abel finance Protocol; when a user mints, redeems, borrows, repays a borrow, liquidates a borrow, or transfers aTokens, he/she will do so using the aToken contract.
There are currently two types of aTokens: Single Coin and LP Coin. As such, the core functions which involve transferring an asset into the protocol have slightly different interfaces depending on the type.
Redeem
The redeem function converts a specified quantity of aTokens into the underlying asset, and returns them to the user. The amount of underlying coins received is equal to the quantity of aTokens redeemed, multiplied by the current Exchange Rate. The amount redeemed must be less than the user’s Account Liquidity and the market’s available liquidity.
For further information on Abel Finance’s Supply & Borrow APY calculations, interest rate models, please visit their docs.
Closing thoughts
Seeing a serious DeFi project come together is both satisfying and terrifying, in particular building on new chains such as Aptos and Sui, with so many uncertainty involved. Everyday crypto investors may fail to recognize the amount of effort involved that goes into any DeFi project. Abel Finance has been building steadily, despite in the bear market — their commitment and professionalism is well documented. Their product is currently live and the team continues to make strides and has published a number of updates and tweaks, bringing in partners and exchanges, demonstrating their versatility as well-experienced developers and marketers — all of which are needed for a successful crypto project.
Abel Finance Links
Abel Finance X AptosLaunch IDO Details
- Date: 10/1/2023
- Time: 09:00 UTC
- IDO Link (AptosLaunch): https://aptoslaunch.io/abel-finance
- $ABEL Sales Price: $0.15
- Initial Marketcap: $450K
- Initial Token Circulation: 3M
- Vesting Schedule: 40% TGE, 10% every month for 6 months
- $ABEL Tokenomics: https://aptos-lend.gitbook.io/abel-finance/tokenomic/token-allocation
- Optional Insurance Fee: 16%
- First hour is Whitelist Round, if the raise amount is not met, it will proceed to the second round, where everyone can participate.
Total IDO Raise on AptosLaunch: $50,000 USD
As a $ALT holder, you can now whitelist for the $ABEL IDO on AptosLaunch. The following tokens will contribute to your chances for Whitelist:
- Unclaimed ALT/tALT tokens
- Vested Locked ALT/tALT tokens
- Wallet Balance tokens (ALT/tALT)
- Staking + Reward Tokens (ALT/tALT)
The Tiering and Allocation for the $ABEL IDO will be as follow:
About AptosLaunch
AptosLaunch is the first decentralized launchpad on the Aptos Network. With Aptos building the safest and most scalable Layer 1 blockchain for the next billion users, AptosLaunch is engineered from the ground up to empower Aptos project owners (both Token & NFT), by offering a strategized token launch experience with customized launch model, time period, accepted token types and auction algorithms. AptosLaunch only succeeds if our launchpad projects succeed.
