Hybrid AMM
Last updated
Last updated
After several years of development, DEX has derived various forms. This also makes different users have different needs for DEX. For example:
From the perspective of transaction demand, it can be divided into two categories, stable currency token exchange and conventional token exchange.
From the perspective of liquidity providers(LPs), it can be divided into stability preference and risk preference.
Obviously, users need to go to different DEXs to meet their unique needs. For example, LPs who like stable income and hate impermanent losses will go to Curve to provide liquidity, while users who want to quickly trade current popular tokens will choose Uniswap, which is more flexible and can freely create trading pairs. So is there a DEX that can meet these needs at the same time? Let's introduce Zenlink Hybrid AMM to you.
Zenlink Hybrid AMM consists of stable AMM and standard AMM. Stable AMM adopts the curve of Curve, which can make two tokens with similar market prices (such as stable coins) complete large-value transactions with extremely low slippage. Standard AMM adopts the Uniswap v2 mechanism, which allows users to freely create any trading pair and adapt to market changes in time. At the same time, it can also provide low slippage trading in the case of better depth.
Meet the risk appetite of different LPs. Risk-averse LPs can provide funds to the stable pool, and obtain stable transaction fee income and farming income, and can avoid impermanent losses. Risk-loving LPs can also provide funds to the standard pool. Although they will suffer some uncertain impermanent losses, they can also obtain extremely high Farming income.
Meet different user transaction needs. With stable pools with excellent depth and diversified standard pools, we can creatively combine them through Smart Route to provide users with the best price and trading experience.
For LPs, Stable AMM and Standard AMM are free to choose when adding/removing liquidity.
For trading users, only need to specify the input token, the output token and the amount on the swap page, and Smart Route will automatically calculate the optimal path. They just need one click to implement the transaction.
The 4pool is a specific form of the stable pool. 4pool on Moonriver Network consists of USDT(any), USDC(any), xcAUSD, and FRAX. 4pool on Moonbeam Network consists of USDT(mad), USDC(mad), xcAUSD, and FRAX.
More stable pools will be introduced soon.
You can offer any token in the pool. The LP token you get will be automatically calculated based on the token type and amount you actually input.
This section is a user guide to help users interact with Zenlink more easily. As a first step, we will first introduce where the stablecoin assets in the Stable Pool come from. You need to get the corresponding stablecoins to participate in 4pool farming through the bridge/transfer method provided in the table below 🔽
xcAUSD(Moonriver &Moonbeam)
Polkadot native stablecoin aUSD transferred from Karura network or Acala network to Moonriver network or Moonbeam network via XCM, accessible and usable as xcAUSD
FRAX(Moonriver &Moonbeam)
The native FRAX stablecoin issued by Frax on the Moonriver network and the Moonbeam network, using different contract addresses on the two networks
madUSDT\madUSDC(Moonbeam)
Bridge assets transferred from other blockchains to the Moonbeam network via Nomad
USDT\USDC
(Moonriver)
Bridge assets transferred from other blockchains to the Moonriver network via Multichain
anyUSDT\anyUSDC (Moonbeam)
Bridge assets transferred from other blockchains to the Moonbeam network via Multichain
USDC/BUSD/DAI (Astar)
Bridge assets transferred from other blockchains to the Astar network via Celer cBridge
BAI(Astar)
Astar native stablecoin issued by AstridDAO, an over-collateralized stablecoin protocol on Astar Network
NOTE: 1) Multichain and Celer cBridge all support bridging FRAX to Moonriver network, they are labeled anyFRAX and celrFRAX respectively, once you get these bridging assets, you will need to go to the Frax App to convert them to Moonriver's native canonical tokens before you can use it on Zenlink. You can also refer to this tutorial:https://zenlinkpro.medium.com/zenlink-partners-with-frax-finance-and-launches-frax-liquidity-incentive-program-on-moonbeam-3facc1ea2892 2) For transferring xcAUSD to Moonriver or Moonbeam please refer to these tutorials: a) Using Zenlink X-Transfer: https://wiki.zenlink.pro/zenlink-dex-dapp/x-transfer#how-to-use-x-transfer-to-transfer-tokens-between-parachains-or-between-relaychain-and-parachain b) Using Moonriver/Moonbeam app: https://moonbeam.network/tutorial/cross-chain-assets-on-moonriver/
After the above preparations or if you already have the relevant assets on the Moonriver/Moonbeam/Astar, let's start the stable farming on Zenlink (the following tutorial is based on the Moonriver testnet, please refer to the actual situation).
Go to https://dex.zenlink.pro/ on your PC, click on Connect Wallet in the upper left corner and make sure you are connected to the Moonriver network.
Step 1: Go to the Pool page in the left menu bar, click the "Add Liquidity" button on the top, there are two options available on the Pool tab: "+ Standard AMM" and "+ Stable AMM", just select the corresponding option, here we choose "+ Stable AMM".
Standard AMM: Add/Remove liquidity on pairs of your choosing
Stable AMM: Add liquidity to the stable pool consisting of multiple tokens
Step 2: Once on the add liquidity page, select the pool you want to add liquidity to from the drop-down box (for example 4pool), then you can add liquidity to to the pool with any combination of the four tokens in the 4pool (here is xcAUSD only for example) and the LP share will be calculated automatically.
Step 3: After confirming the information is correct, approve the tokens you select to supply, then click the "Supply" button (the button will turn red after approval is completed) to add liquidity to the pool.
After adding liquidity successfully, you will be able to see your share of liquidity on the pool page.
Click on the Earn page in the left menu bar, find the pool you want to stake LP tokens in the default staking sub-page, click on the “Stake" button to start farming for rewards.
To redeem your staked assets, click on “Redeem" in the farming pool dashboard and input the amount to be redeemed.
Step 1: Once redeem is complete you will be able to go back to the pool page to view your liquidity share and click the “Remove" button to remove the liquidity.
Step 2: After entering the remove liquidity window, firstly input the amount of liquidity to be removed, secondly choose to redeem the liquidity with all tokens or a certain token, then click “Approve" button to approve, and finally click “Remove" button.
To claim your farming rewards, click the “Claim" button in the farming pool dashboard and click “Claim" again in the pop-up window.
NOTE: Stable Farm will use the mechanism of Zenlink Farming v2, there will be an interval for claiming the rewards, and the rewards will only be claimed after reaching the claimable blocks, users can refer to the countdown timer displayed on the page to know when the rewards can be claimed and the estimated time of the next claim. For more information: https://wiki.zenlink.pro/zenlink-dex-dapp/farming-mechanism#introduction-to-farming-v2-on-moonriver-and-moonbeam
At this point, you should have mastered the entire process of how to interact with Zenlink Hybrid AMM and participate in Stable Farms, just enjoy it! Don't forget to migrate your liquidity from the ended incentive farming pools to stable farming pools to get the better benefits!
If you have any problems with Zenlink, please join the Zenlink Discord and ask the admin for help: https://discord.com/invite/v32WcymvXn
Zenlink X-Transfer: Moonriver app: Moonbeam app:
Multichain: Nomad: Celer cBridge:
Nomad:
Multichain:
Multichain:
Celer cBridge:
AstridDAO:
