What is ABEL Finance? ABEL Finance a first cross-chain lending platform built on Aptos and Sui. So what makes ABEL Finance stand out? Let’s find out with Weakhand.
To understand more about ABEL Finance, please read the articles below:
- DeFi Panorama 101 | Episode 3: What is Lending & Borrowing? The Essential Puzzle Piece in DeFi
- What is Midas Capital? Midas Capital Cryptocurrency Overview
- What is Silo Finance (SILO)? Silo Finance Cryptocurrency Overview
What is ABEL Finance?
Overview of ABEL Finance
ABEL Finance a secure, decentralized, multi-chain liquidity Cross-Chain Lending/Borrowing platform built on the Aptos and Sui blockchain.
ABEL Finance hSupports diverse collateral assets such as Tokens, LP Tokens from AMMs and NFTs.
ABEL Finance is implemented in the MOVE language and has been Compound V2 implementation reference.
Chains currently supported by ABEL Finance: Aptop, Sui, LayerZero, Celer, Wormhole, …
Highlights of ABEL Finance
- Supports a variety of collateral assets: Tokens, LP Tokens from AMMs and NFTs
- Diverse collateral assets such as: Coin/LP coin with high capitalization to low capitalization because liquidity pools are installed with different parameters to suit different asset types.
- Through Lending/Borrowing Cross-Chain, it helps Multi-chain asset transfer is efficient.
- ABEL Finance has independent liquidity pools with pre-installed parameters, so a hacked pool does not affect the remaining pools.
Operating mechanism of ABEL Finance
ABEL Finance’s operating mechanism takes place according to the following basic steps:
- Step 1: Users who provide liquidity into the pool receive APY.
- Step 2: Users who want to borrow and lend will interact independently with the pools.
- Step 3: The borrower will return the borrowed property with interest and get the collateral back.
ABEL Finance uses aToken mechanism:
Each asset backed by Abel Finance is onboarded via an aToken contract, which is an EIP-20 compliant representation of the balance provided to the protocol. aToken is the primary means of interacting with the Abel Finance Protocol.
- There are currently two types of aTokens: Single Coin and LP Coin.
- When users mint, redeem, borrow, repay, liquidate a loan, or transfer aToken, they will use the aToken contract.
- Users earn interest through the eToken’s exchange rate, which increases in value compared to the underlying asset, and has the ability to use aToken as collateral.
Development Roadmap
State 1
- Complete the overall product plan
- Develop relevant protocols
- Launching Website
- Internal testnet
Phase 2
- Launched Abel beta in APTOS testnet
- Airdrop plan for beta activities
- Lending and Borrowing
- LP group development and testing
- Develop IDO platform
- Model design of DAO
- Preparing to launch APTOS mainnet
Stage 3
- Complete ABEL IDO
- Initial APT-ABEL liquidity pool
- APTOS Mainnet Deployment (Abel V1.0)
- Beta airdrop distribution
- Airdrop plan launched on mainnet
- LP loan support
- SUI Mainnet Deployment (Abel V1.0)
Stage 4
- Launch of ABEL V2.0 supporting NFT lending
- Voting supports many assets
- Improve user experience
- Cross-chain lending
- Other features – Charts
- Use Chainlink oracles
Stage 5
- Launched support for ABEL V3.0 Cross-chain lending and borrowing
- Improve dashboard. dashboard
- Improve website
- Custom user profiles
Core Team
Updating
Investor
Updating
Partner
Updating
Tokenomics
Basic information about ABEL Token
- Token Name: ABEL Finance
- Symbol: ABEL
- Blockchain: Aptop
- Contract:0x70322595a73b3fc53bb166f5783470afeb1ed9f46d1176db62139991505dc61::abel_coin::AbelCoin
- Total supply: 100,000,000
ABEL Token Allocation
- Token Sales: 24% equivalent to 24,000,000 ABEL
- Team/Advisor: 10% equivalent to 10,000,000 ABEL
- Marketing: 5% equivalent to 5,000,000 ABEL
- Airdrop: 1% equals 1,000,000 ABEL
- Mining: 50% equivalent to 50,000,000 ABEL
- DAO Treasury: 10% equivalent to 10,000,000 ABEL
ABEL Token Release
- Token Sales: 100% TGE
- Team/Advisor: Unlock 10% mainnet launch date, remaining vesting period is 12 months (7.5%/month)
- Marketing: 10% will be used for beta airdrops activities, pThe rest will be unlocked over 12 months (7.5% per month).
- Airdrop: Unlocked 100%
- Mining: Unlocked 100%
- DAO Treasury: 12-month lock
ABEL Token Use Case
Updating
ABEL Token Exchange
Currently, users can trade ABEL tokens on the exchange: Liquidswap, directly on the ABEL Finance interface,…
ABEL Finance Project Information Channel
- Website: https://www.abelfinance.xyz/
- Twitter: https://twitter.com/abelfinance
- Medium:
Summary
Hopefully the article provides readers with useful information about ABEL Finance, a fairly new Lending/Borrowing Cross-Chain project on the Aptop ecosystem.