Archimedes

Higher leverage Lower loss Lower Risk Lower threshold

Inspiration

Insufficient mining funds
Insufficient use of funds
Slippage loss is too high

What it does

Archimedes ( acmd.finance ) is a new generation of cross-chain leverage aggregator, which integrates Loan mining, leveraged lending and liquidity mining, aims to build the world's leading multi-chain assets decentralized financial service platform, and maximize the return of mining for Defi users income. Archimedes provides diversified products to help users increase the utilization rate of funds.

How we built it

First: Investigate the shortcomings of the same type of products in the current market and seek breakthrough points; Investigate users' views and wishes on leveraged lending, and analyze market space; Second: Product managers produce product requirements documents and draw product prototypes based on product research documents The technical staff arranges the framework construction and development according to the requirements document and the prototype drawing At the same time as the back-end deployment, UI designs the website section map according to the product style, and the front-end completes the front-end development according to the design drawing and back-end deployment. After the technical development is completed, the internal testing phase is carried out. At the same time, the market needs to start advertising and seek business cooperation

Challenges we ran into

Due to the frequent fluctuations in the market currency price and the frequent occurrence of some project rollovers, users' confidence in the market has been seriously insufficient. Archimedes chooses to face the following severe challenges in its current launch:

The user does not believe in the new currency, and the purchase amount of ACMD is insufficient;
Users are worried about excessive losses and reduce the frequency of using leverage;
The market and government intervention have hindered the progress of the project;
Cross-chain to other public chains.

Accomplishments that we're proud of

1.Higher leverage. The platform provides up to 8 times leverage, and users can choose to use leverage to maximize the rate of return, and the rate of return can be increased by up to 8 times. 2.Lower loss. Flexible funding to achieve zero slippage, rollback mechanism to ensure transaction price, self-developed virtual machine saves trading fees. The system will provide users with flexible asset allocation options based on user assets and market conditions, with slippage loss as low as 0%, and save costs to the greatest extent for users. 3.Lower Risk. The platform shows users the original fund flow data of each step of the transaction, so that it is open and transparent, and at the same time, it is connected to the Chainlink oracle to make the price more reliable. 4.Lower threshold. Users borrow assets from the platform, and they will get profits when they deposit in the platform, and to deposit is to mine. In addition, the platform implements flash loan liquidation, and the liquidator can complete the liquidation with a small amount of funds.

What we learned

Products must be based on the needs of users, with users as the core, in order to go further;
The community is the cornerstone of expanding the market, and the maintenance of the community cannot be ignored;
Leveraged products must take safety as the prerequisite to ensure the safety of users' funds and the safety of project parties' funds, so as to win the trust of users;
Keep abreast of market and competitive product trends, and continue to improve products to meet market demand.