The world of DeFi is still being charted, with explorers navigating AMMs across multiple blockchain economies, bothersome slippage rates on trades, ongoing price discrepancies, and scalability concerns. Traders demand a more straightforward experience, or better said, a map of the DeFi realm. Atlas has now embarked on a journey to reshape the market-wide DEX trading experience.
What is Atlas?
Atlas is a cross-chain DEX built on the Solana blockchain. It gives traders one simple UI map that aggregates liquidity across the AMMs that currently populate the DeFi world and lets them trade seamlessly between them. Rather than be hampered by the liquidity available on a single DEX, using Atlas will allow users to utilize liquidity across a range of available pools in order to execute the best and most profitable trades. This DeFi dashboard will be a go-to nexus to interact with the AMMs that populate the world of decentralized finance and give traders the advantage they crave.
Atlas is built on Solana. As the most high-performance permissionless blockchain, it offers the security and speed — 50,000 transactions with a block time of roughly 400ms — that the Atlas project needs to work. Atlas contracts are complex. Dividing trades multiple tones and processing them in parallel requires a blockchain that is robust and fast, and Solana provides that, giving users of Atlas the lightning fast swaps required at a low cost.
The “Guiding Light” in the DeFi Dark
Rather than lurching from platform to platform to avoid hefty slippage, be that different CEXs or across different AMMs, Atlas collates the available liquidity for the user automatically and calculates the most effective way to divide the trade across them. By doing so, slippage costs are mitigated in the most efficient manner possible — all at the click of a button.
It does this using its “guiding light” algorithm which navigates the dark seas of various protocols and shipping lanes of diverse blockchains so that users don’t have to. When inputting a trade, Atlas’s tech subdivides it into various batches to obtain the best price for the user, and then executes a multi-platform trade simultaneously so that the expected price is achieved. This “guiding light” not only saves users the hassle of manually searching and inputting trades on multi-platforms, but also does the hard work for them by gathering price data from available AMMs and then making the appropriate division of assets for them to get the best price.
To do this in a decentralized manner across multiple blockchains — each with their own set of uniquely wrapped tokens — is no easy task. A reliable and governable process to lock, mint, burn and release assets simultaneously cross-chain has up to now been the domain of centralized bridges. These bridges are vulnerable to malfeasance, failure and external assault — with a user’s crypto hoarded by an entity who may not have their best interests at heart; a single point of failure in a counterparty that can falter just when a user needs it most.
Cross-Chain Wormhole Bridges
Atlas solves the problem by integrating Solana’s “wormhole” tech. These contracts are bi-directional decentralized bridges that allow for cross-chain swaps and rely on the consensus of both chains. The first wormhole will connect Atlas’s native Solana blockchain with the Ethereum continent — and more blockchains, such as the Binance Smart Chain, will be linked as the Atlas map is developed. This will further collate liquidity from every far corner of the DeFi world and will provide users of Atlas the deepest pool of aggregated liquidity.
This will give them the opportunity to execute any trade imaginable at the best possible price across the entire market. Moreover, as Atlas plugs into more and more DEXs and AMMs, a yield aggregator will give its advanced users a chance to maximize their profits in the easiest manner available.
Liquidity Pools and the Atlas Token
As a map to the DeFi world, then, Atlas will offer unparalleled vision of the wider DeFi space and allow its users an edge in the market. However, Atlas does not only chart the world, but — like its namesake — holds it upon its shoulders too. Atlas will feature its own liquidity pools too. Traders can access Atlas’s own pools and can list new trading pairs within them. Liquidity providers will receive rewards in trading fees and be part of drawing the map by receiving Atlas’s governance token, $ATLS. Staking $ATLS will also generate a yield to reward their support of the protocol.
The $ATLS token will give holders a chance to participate in governance. Yet the rewards don’t end there. Once the protocol is established, and through community voting as part of a DAO, holders of $ATLS will be able to access discounts on trading fees, giving them a further edge in the market which their participation in Atlas has helped them map out. The chance of further premium trading features will be developed in concord with the community over time so that backers will truly be the masters of the DeFi seas.
$ATLS will have a total supply of 750 million, the majority of which will slowly filter into the market through mining over a period of five years. To get budding mapmakers in, however, Atlas will be offering an airdrop on the Solana network. By following our twitter, liking the airdrop post, and joining the discord, mapmakers will then be eligible to receive some of the 22.5 million tokens being sent out to galvanize the community helping us chart the DeFi world. More information about tokenomics, and the rest of the Atlas project, can be found in the Atlas litepaper.
Brave New World
The DeFi world is a broad and thrilling sea. Since its inception, it has grown at a rate that threatens to usurp the world of centralized finance entirely. Atlas promises to be the map to help its users command the world of DeFi like never before. The guiding light of its divisible trade algorithm secures its users advantageous trades, while the wormhole tech helps them transact cross-chain in the most secure manner possible. The simple, intuitive UI will make even novice DeFi traders feel confident of getting the best out of their assets, while the rewards for ATLS holders will give them a headstart in reaching the new edges of the decentralized financial world as they are explored.