In 2021, Solana sparked autumn that along with the ecosystem were breaking the record in the crypto world. However, some Solana-based projects have missed the wave since they were too busy to develop the platform.
Atrix is cooperating with Almond to launch yield farming pools to attract new investors with high APYs. After the farming pool launch, they both have reached over $300M in TVL, amazing the crypto world.
The article below will provide all detailed information about Atrix, including:
- What is Atrix? How does it work?
- Roadmap and updates.
- Details about the team, investors, and partners.
- Is Atrix a good investment?
Let's explore the potential of Atrix!
What is Atrix?
Atrix is an AMM decentralized exchange running on the Solana blockchain that utilizes Serum’s order books. Furthermore, investors can create Liquidity Pools and farms directly on the platform. This is a competitive feature since the platform allows users to create customized pools.
How does Atrix work?
Currently, Atrix has three strategic products as following:
- An AMM DEX based on Serum’s order books for swapping tokens.
- Liquidity Pools to add liquidity directly to Serum.
- Yield Farms for liquidity mining.
Atrix decentralized exchange uses an AMM interface with a constant product equation x*y=k where x and y are the number of deposited tokens in the Liquidity Pools. This will send the provided liquidity to Serum and create open orders on the Serum platform for trading.
The liquidity is added to Serum benefitting the Atrix protocol and the Serum platform since overall liquidity increases. As a result, Serum is the liquidity center that aggregates liquidity from other DeFi protocols.
Permissionless Pools are free to be created by Atrix users. When providing liquidity in those pools, investors receive Atrix LP tokens (ALP) in return. Those tokens can be utilized on other protocols or in Atrix farms.
For example, you can deposit ALP tokens on Almond farms for ALM tokens, which is discussed below in this article.
On the Atrix platform, users can easily create customized farms to emit tokens. There are two types of Atrix farm:
- Allocated Emission: a specific amount of tokens is deposited to be distributed for users.
- Minted Emission: farmers receive new tokens that are minted every second.
The Atrix team receives a specific amount of tokens in farms as developing rewards.
What is Atrix Token?
Currently, Atrix has not had any announcements about tokens, Coin98 will update as soon as there’s any information from Atrix!
Roadmap & Updates
Team, Investors, and Partners
Atrix Finance has partnered with a yield farming platform Almond that is acting as a part of the money lego. This means Atrix LP token holders can earn ALM tokens when farming on the Almond platform.
Is Atrix a good investment?
Atrix created a Solana-Serum-based platform that offers a DeFi trilogy with a DEX, Liquidity Pools, and farms. There are some key highlights from Coin98 for investment decisions.
The Atrix platform is trying to provide DeFi services to all crypto users ranging from traders, farmers, and startup teams. Those products are completed and ready to operate. As a result, the platform is focusing on accelerating itself to attract liquidity.
Atrix and Almond created a farming interaction that is described in the following flow diagram. You can optimize and “compounding” your farming yields with your SPL tokens supported by the platform. This contributes to the initial success of both platforms.
However, since the smart contracts of the Atrix platform have not been audited by any security company. This means that the Atrix team can pull the rug out of investors or hackers can exploit the system to take away all provided liquidity. Therefore, investors should deposit the number of tokens that they are willing to lose.
Atrix along with Almond is going to climb the ranking ladder since they are close-knit tied together. However, the TVL is rapidly growing thanks to the farms with high APYs. If the hype party is over, the TVL can be adjusted.
The Atrix token has not been released yet, although the platform has reached the mainnet milestone. So the opportunity here is to interact with the platform to receive retroactive airdrops. Retroactive airdrops are often distributed to thank early adopters who have completed certain interactions with the platform.
This airdrop might not happen since there’s no official announcement from the developer team. However, who knows whether Atrix is going to be like Uniswap that distributed a big UNI token airdrop to its early users. This is not financial advice.
In my point of view, Atrix gained initial success since the TVL skyrocketed. I can anticipate that Atrix is going to release its tokens sooner or later. Therefore, it’s worth following the project for future updates.
And as usual, whether it is worth investing or not, Do Your Own Research before investing and be responsible for your investment.
In the Solana ecosystem, there are DeFi projects that are similar to Atrix such as Saber, Raydium, and Orca. They are all bigger than Atrix since they completed their platforms sooner and are backed by supportive investors/VCs.
Atrix is a potential project since it deploys an innovative business model targeting DeFi users and developers. Therefore, we will update this article if there’s any news about Atrix.
That is all you need to know about Atrix. I hope you’ve gained helpful insights to understand the potential behind Atrix. If you have any questions related to Atrix, feel free to comment in the section down below!
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