ACoconut: Promoting Frictionless Movement of BTC Liquidity on the BSC and ETH

The movement of liquidity between Decentralized Finance protocols has been entrenched with friction that severely impacts capital efficiency and usability. ACoconut, a multi-chain platform that utilizes a three token system, is set to solve this friction when liquidity is being moved across protocols.

By
Wilfred Victor
on
May 10, 2021
Category:
Sponsored

What is ACoconut?

ACoconut is a suite of open protocols designed to enable frictionless movement of liquidity between decentralized systems. The platform is integrated on both the Binance Smart Chain (BSC) and Ethereum. 

ACoconut Agnostic Blockchain platform

Key Features

The protocol makes use of three solutions;

  • BTC+
  • acBTC
  • And the AC DAO token (Governance token of ACoconut)


Project Components

BTC+

BTC+ is a positive rebasing synthetic BTC. It maintains a stable peg to BTC while providing global interest. BTC+ will power the frictionless transfer of wrappedERC-20 BTC across DeFi protocols. BTC+ is It will be the first BTC composite asset that optimizes yield and maintains a stable peg against BTC.

BTC+ 

acBTC:

acBTC is a composite Bitcoin solution composed of a basket of natively backed BTC. . It is designed to unite wrapped  BTC to improve utility and interoperability across blockchain networks. The acBTC protocol  enables seamless movement of BTC liquidity across layer one blockchain networks.  

acBTC Ecosystem

AC Locker

The Locker feature plays a function in ACoconut Tokenomics V2, as explained HERE. Users can decide to lock their tokens for the minimum duration of one month and a max of 4 years. AC token holders can lock AC in return for increased participation in the ACoconut system. This exists in forms of liquidity mining and governance voting.

AC Locker

More details about the locker function are written HERE.

AC DAO:

The core purpose of the AC token is for decision processes by the community and the establishment of the ACoconut Decentralized Autonomous Organization (DAO)


Project Updates

NUTS finance has released the Plus Asset protocol for users to benefit from both Yield and Usability. Plus Asset solves the dilemma with a single asset so that:

  • It is usable since its value pegged;
  • Holders can receive global yield even if it’s used in other protocols.


Plus Asset

Plus Assets can be divided into two categories:

  • Single Plus is a plus asset-backed by one yield token and focuses on yield generation. For example, vBTC+ is backed by vBTC.
  • Composite Plus is a plus asset-backed by a basket of plus assets and focuses on basket management. For example, BTCB+ is backed by a basket composed of vBTC+ and acsBTCB+. The rebalancing mechanism of composite plus balances yield and risk of the basket.

By simply holding Plus assets, holders will receive  yield generated from the underlying constituents.  Since the asset is value pegged,it can provide maximum  usability and yield optimization for holders. More details about this are found HERE.

Users can also trade AC, ACoconuts native token, and provide liquidity on PancakeSwap; alternatively, you can also access the PancakeSwap pool via the ACoconut dapp. Trade and provide LP for AC staking following this guide.

Trade AC on PancakeSwap

The AC token bridge is live, move AC  between BSC and Ethereum chains. Connect your wallet and switch between the chains. Ensure you have enough gas for this operation.

Beta testing is active for the ACoconut V2 on Ethereum. The platform will support BTC yield tokens from Curve, Vesper Finance, and Badger - Learn More.


Tokenomics - AC V2

Max Supply - 21,000,000 AC (100%)

Community Allocation - 15,000,000 AC (71.43%)

Team Allocation - 6,000,000 AC (28.57%)


Outside Governance, AC tokens will also have liquidity mining boosting (although suspended at the time of this review, and rights to purchase insurance coverage. There will also be a buyback of tokens from the open market to replenish the mining pool. This aims to provide consistent returns on BTC deposits.


Token Distribution



AC Tokenomics V2 is a new design created to combat the inefficiencies experienced by conflicting stakeholders’ interests. The new V2 is an accurate representation of collective interests from traders, farmers, holders, and builders. To learn more, check the new Tokenomics Guide.


Transition to ACoconut DAO Governance

The transition will be the most significant plan of the ACoconut protocol. This process will transfer the protocol towards being community-driven.  At the initial stage, governance will be led by the core team to transition and provide a DAO structure. The project matures and has reached a sustainable number of strategic partners. All governance proposals and decisions will be fully available to the public when the features go live.


Concluding Thoughts

The ACoconut protocol will find actual use cases among DeFi users, especially liquidity providers. The platform will reduce the friction encountered when BTC liquidity  is moved between DeFi protocols. 

ACoconut Composite System

ACoconut is a multi-protocol system, which consists of BTC+, acBTC, and a governance protocol. ACoconut enables frictionless movement of liquidity between decentralized systems; empowering users to achieve optimal yield while maintaining maximum usability and minimizing transaction frictions. 


Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC, it is crucial to reference the following items, HERE and HERE.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

Users who wish to learn more about ACoconut should check out the following resources and media pages:

Website

Twitter 

Telegram

Medium


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Wilfred Victor

Ace finds himself as a blockchain enthusiast who is focused on growing with the entire crypto sector. He is an energetic and passionate writer who believes that all things are achievable.

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