## Τι είναι το Tokemak;

Το Tokemak είναι ένα αποκεντρωμένο πρωτόκολλο που διαδραματίζει καίριο ρόλο στο οικοσύστημα του DeFi, βελτιστοποιώντας την παροχή ρευστότητας και την παραγωγή αποδόσεων για τους χρήστες του. Το πετυχαίνει αυτό μέσω μιας καινοτόμου προσέγγισης που περιλαμβάνει την επαναξιορρύθμιση περιουσιακών στοιχείων σε διάφορες αποκεντρωμένες ανταλλακτικές (DEXs) και σταθερές πισίνες, εξασφαλίζοντας έτσι αποτελεσματική δημιουργία αγοράς και παροχή ρευστότητας. Το πρωτόκολλο αυτοματοποιεί τη σύνθεση των ανταμοιβών και ελαχιστοποιεί το κόστος του αερίου, καθιστώντας το μια ελκυστική επιλογή για τους παρόχους ρευστότητας (LPs).

Στην καρδιά του, το Tokemak στοχεύει να αντιμετωπίσει τη διασπορά της ρευστότητας στον χώρο του DeFi, προσφέροντας μια ενοποιημένη πλατφόρμα όπου η ρευστότητα μπορεί να κατανεμηθεί και να διαχειριστεί αποτελεσματικά. Αυτό διευκολύνεται μέσω του νομίσματός του, του TOKE, το οποίο λειτουργεί ως μηχανισμός για την εξόρυξη ρευστότητας και επιτρέπει στους κατόχους του να συμμετέχουν στη διακυβέρνηση του πρωτοκόλλου. Οι κάτοχοι του TOKE, που αναφέρονται ως Διευθυντές Ρευστότητας, έχουν τη δυνατότητα να κατευθύνουν τη συνολική αξία που είναι κλειδωμένη (TVL

### Πώς είναι ασφαλισμένο το Tokemak;

Το Tokemak υιοθετεί μια πολυδιάστατη προσέγγιση για να διασφαλίσει την ασφάλειά του, ενσωματώνοντας στρατηγικές εντός και εκτός αλυσίδας για να προστατεύσει το αποκεντρωμένο πρωτόκολλο ρευστότητας και δημιουργίας αγοράς του. Η βάση της ασφάλειας του Tokemak βρίσκεται στη χρήση των μέτρων ασφαλείας του Ethereum Layer 1 (L1). Το L1 του Ethereum είναι γνωστό για την ανθεκτικότητα και την αξιοπιστία του, παρέχοντας μια ασφαλή βασική στρώση πάνω στην οποία λειτουργεί το Tokemak. Αυτή η επιλογή εκμεταλλεύεται το αποδεδειγμένο ιστορικό ασφαλείας του Ethereum και την ευρεία αποδοχή του στο οικοσύστημα της αποκεντρωμένης χρηματοοικονομικής (DeFi).

Εκτός από την εξάρτηση από την ασφάλεια του Ethereum, το Tokemak ενσωματώνει την τεχνολογία rollup. Τα rollups είναι μια λύση κλιμάκωσης που εκτελεί συναλλαγές εκτός της κύριας αλυσίδας του Ethereum (εκτός αλυσίδας) αλλά καταγράφει τα δεδομένα συναλλαγών εντός αλυσίδας. Αυτή η μέθοδος όχι μόνο βελτιώνει την επεξεργαστική ικανότητα και την αποδοτικότητα των συναλλαγών, αλλά διατηρεί επίσης τις εγγυήσεις ασφαλείας του κύριου δικτύου του Ethereum.

Ένα άλλο κρίσιμο στοιχείο της στρατηγικής ασφαλείας του Tokemak είναι η εφαρμογή ποινών κοπής για τους επικυρωτές. Οι επικυρωτές διαδραματίζουν έν

### Πώς θα χρησιμοποιηθεί το Tokemak;

Το Tokemak θεωρείται ως ένα αποκεντρωμένο πρωτόκολλο με στόχο την ενίσχυση της ρευστότητας και της αποδοτικότητας της αγοράς εντός του οικοσυστήματος DeFi. Ο κύριος μηχανισμός του, Autopilot, είναι σχεδιασμένος για να βελτιστοποιεί την ανάπτυξη του ETH μέσω της στρατηγικής επαναξιορρύθμισης σε μια ποικιλία αξιόπιστων αποκεντρωμένων ανταλλακτηρίων (DEXs) και σταθερών δεξαμενών. Αυτή η διαδικασία περιλαμβάνει αυτόματη σύνθεση ανταμοιβών και ελαχιστοποίηση του κόστους gas, προσφέροντας έτσι μια πιο οικονομικά αποδοτική και αποτελεσματική στρατηγική παροχής ρευστότητας.

Αρχικά, η λειτουργία Autopilot του Tokemak θα αναπτυχθεί χρησιμοποιώντας μόνο τα περιουσιακά στοιχεία από το ταμείο του Tokemak. Αυτή η φάση προστατευμένης εκκίνησης είναι κρίσιμη για την εξασφάλιση της αξιοπιστίας και της αποτελεσματικότητας του συστήματος πριν γίνει προσβάσιμο σε εξωτερικές καταθέσεις. Αυτή η σταδιακή προσέγγιση τονίζει τη δέσμευση του πρωτοκόλλου στην ασφάλεια και την βέλτιστη απόδοση.

Πέρα από τις τεχνικές του λειτουργίες, το Tokemak εκτελεί πολλαπλούς ρόλους εντός της βιομηχανίας των κρυπτονομισμάτων. Λειτουργεί ως πάροχος ρευστότητας για αποκεντρωμένα ανταλλακτήρια, διε

### Ποια κύρια γεγονότα έχουν συμβεί για το Tokemak;

Το Tokemak έχει βιώσει αρκετά σημαντικά ορόσημα που έχουν διαμορφώσει την πορεία του εντός του οικοσυστήματος της αποκεντρωμένης χρηματοοικονομικής (DeFi). Ένα από τα καθοριστικά στιγμιότυπα ήταν η συνέδριο Tokyo WebX το 2023, το οποίο λειτούργησε ως πλατφόρμα για την παρουσίαση των καινοτομιών του και την επέκταση του δικτύου του εντός της κοινότητας blockchain. Επιπλέον, η ανάπτυξη του "alliance SDK" σηματοδότησε μια στρατηγική κίνηση για την ενίσχυση του οικοσυστήματος STAIKA, επιδεικνύοντας τη δέσμευση του Tokemak στην προώθηση της συνεργασίας και της διαλειτουργικότητας στον χώρο του blockchain.

Το πρωτόκολλο έχει επίσης δει σημαντικές προόδους στο τεχνικό και λειτουργικό του πλαίσιο. Η εκκίνηση του Autopilot αντιπροσώπευσε ένα σημαντικό βήμα προς τα εμπρός στην αυτοματοποίηση της παροχής ρευστότητας, καθιστώντας την πιο αποδοτική και φιλική προς τον χρήστη. Αυτή η δυνατότητα υπογραμμίζει την αφοσίωση του Tokemak στη βελτίωση του τοπίου ρευστότητας στις αγορές DeFi.

Ένα άλλο κρίσιμο γεγονός ήταν η πρώτη διανομή του TOKE, του ντόπιου διακριτικού του Tokemak. Αυτή η διανομή ήταν κρίσιμη για την καθιέρωση του TOKE ως κεντρικού στοιχείου του μηχανισμού παροχής ρευστότητας του πρωτοκόλλου, επιτρέποντας στους



Tokemak is a decentralized liquidity providing/market making protocol designed to create efficient, sustainable liquidity across DeFi. Tokemak's native token, TOKE, serves as tokenized liquidity, enabling stakers to direct the protocol's TVL as liquidity across DeFi markets, beginning with SushiSwap, Uniswap, Balancer, and 0x.

Tokemak

Trust Wallet

MetaMask

Ethereum

Shiba Inu

Chainlink

Uniswap

UNUS SED LEO

wrapped POKT

RAI Finance

Hemule

RMRK

Xend Finance

Shina Inu

Gameswap

REVV

Big Data Protocol

Efforce

LEOX

Devve

pufETH

EscoinToken

BIRDDOG

Convex Finance is a DeFi protocol that allows Curve liquidity providersto earn a share of trading fees on Curve without staking liquidity there. Instead, LPs can stake with Convex and receive boosted CRV and liquidity mining rewards. This provides CRV stakers with better capital efficiency and positions Convex Finance as an important player in the Curve wars.

Convex has entered a competitive race to obtain as much control as possible of the Curve Finance stablecoin exchange. The more CRV tokens a protocol has, the more influence it has over interest rates on Curve, which is the largest DEX in the world by TVL. Consequently, the “Curve wars” are an ongoing race for influence over what is probably the most important protocol in DeFi.

Convex Finance

Alchemix

Synapse (SYN) is an interoperability protocol designed for safely and securely sending arbitrary data between blockchains.

Its users can transfer and swap their assets across many different chains, including layer 1, layer 2 and sidechain ecosystems.

The project aims to improve inter-blockchain compatibility by helping its users move their assets between different networks more efficiently. In order to securely transfer its users' assets to and from different ecosystems, while maintaining slippage, liquidity pool balances, and transaction prices, Synapse uses a stableswap algorithm.

The Synapse ecosystem is made up of six parts: the Synapse Bridge technology, the cross-chain AMM, aggregative cross-chain communication, the SYN token, the Synapse Chain, and optimistic security approaches.

With Synapse’s generalized messaging system, any arbitrary data can be sent across chains in a secure and seamless way. Applications no longer have to be separately deployed across multiple blockchains; they can be deployed on a single chain and communicate with other chains to create the exact same user experience from one central application layer. Generic message passing also includes smart contract calls, enabling smart contracts on different chains to easily interoperate with one another.

Synapse Bridge allows users to seamlessly swap on-chain assets across 15+ EVM and non-EVM blockchains in a safe and secure manner. The bridge supports two types of bridging: Canonical Token Bridging — bridging of wrapped assets across chains; Liquidity-based Bridging — bridging of native assets across cross-chain stableswap pools.

Synapse Chain is an Ethereum-based optimistic rollup designed to serve as a sovereign execution environment for cross-chain use cases. Synapse Chain will offer developers a generalized smart contract interface for building natively cross-chain use cases by leveraging Synapse’s cross-chain messaging system. Applications built on Synapse Chain will be able to execute their business logic across any blockchain.

Synapse supports multiple EVM-compatible blockchains and is integrated with nearly 18 layer-1 and layer-2 chains, including Ethereum, Optimism, Arbitrum, Harmony, Avalanche, Polygon, Moonbeam, Fantom and BNB Chain.

Synapse

Karura is an all-in-one decentralized finance (DeFi) hub and stablecoin platform built on Kusama (KSM) and integrated into Polkadot (DOT). Karura was created by the Acala Network, which has won four Web3 Foundation grants and founded the Substrate Developer Academy.

To learn more about this project, check out our deep dive of Karura.

Both Karura and Acala are backed by multiple funds, including Coinbase Ventures, Pantera Capital, Polychain Capital and Hypersphere. Karura and Acala operate in parallel. Specifically, Karura is implementing DeFi on Kusama in the same way that Acala is offering DeFi on Polkadot. The network is built with almost the same codebase as Acala: the two platforms provide scalable, convenient and fast DeFi cross-chain ecosystems for Kusama and Polkadot.

Parachain Karura is a platform that allows users to create effective, low-cost and complex financial applications, saving time and increasing trading efficiency.

The platform itself provides a multi-collateralized stablecoin backed by cross-chain assets (kUSD), a trustless staking derivative (liquid KSM), and an automated market maker (AMM) decentralized exchange (DEX) for unlocking liquidity and supporting financial innovation.

Karura is the decentralized financial hub of Kusama, a scalable multi-chain network for radical innovation and early-stage Polkadot deployments. Karura is the sister network to Acala. It hosts multichain liquid staking token (LST) protocols (such as liquid KSM - LKSM), an AMM decentralized exchange, and an app platform that is EVM-compatible and highly customizable (based on Substrate). Karura is secured by Kusama, and is the liquidity gateway of Kusama parachains, Acala and L1/L2 blockchains

Karura

Spell Token (SPELL) is a reward token associated with abracadabra.money, a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD-pegged stablecoin called Magic Internet Money (MIM). Abracadabra uses the Kashi Lending Technology pioneered by SushiSwap (SUSHI) to provide isolated lending markets that allow users to adjust their risk tolerance according to the collateral they decide to use. Users can deposit collateral and borrow MIM against it. Abracadabra also offers yield farming opportunities, where users can stake their liquidity provider (LP) tokens to farm SPELL. This facilitates better liquidity for certain cryptocurrency pairs, currently Ether (ETH)-Spell Token (SPELL) and Magic Internet Money (MIM)-LP 3pool Curve (3CRV). Furthermore, users can also open leveraged farming positions using borrowed MIM from their interest-bearing collateral.

Spell Token

Keep3rV1 is a decentralized platform designed to facilitate the coordination between projects that need to source outside development operations and those who can provide those required services. Essentially, the project serves as a job board that facilitates the interaction between job posters, such as decentralized finance protocols, and job executors, known as Keepers. The tasks performed by Keepers range from submitting and calling transactions on-chain to completing complex operations off-chain. Keep3rV1 uses an ERC-20 token, KP3R, for governance and to provide rewards to Keepers.

The project was first announced on Oct. 22, 2020. It launched on the Ethereum mainnet in beta mode on Oct. 28, 2020.

Keep3rV1

Curve is a decentralized exchange for stablecoins that uses an automated market maker (AMM) to manage liquidity.

Launched in January 2020, Curve is now synonymous with the decentralized finance (DeFi) phenomenon, and has seen significant growth in the second half of 2020.

In August, Curve launched a decentralized autonomous organization (DAO), with CRV as its in-house token. The DAO uses Ethereum-based creation tool Aragon to connect multiple smart contracts used for users’ deposited liquidity. Issues such as governance, however, differ from Aragon in their weighting and other respects.

Curve DAO Token

saffron.finance

Secret (SCRT) is a privacy-oriented blockchain built on Cosmos. Its smart contracts are called Secret Contracts and allow DApps to use private data on Secret, similar to how smart contracts operate on other blockchains. However, Secret Contracts transfer encrypted inputs into encrypted outputs without exposing data. This is made possible thanks to the encrypted contract states during the execution.

Data privacy is guaranteed by combining encryption protocols and key management within a Trusted Execution Environment (TEE). This allows Secret Contracts to compete for several privacy-related use cases that traditional blockchains have found difficult to accommodate. For instance, private voting mechanisms or credit scoring applications become possible since they do not expose sensitive user data on-chain with Secret.

Secret

MIR is the governance token of Mirror Protocol, a synthetic assets protocol built by Terraform Labs (TFL) on the Terra blockchain.

Mirror Protocol is decentralized from day 1, with the on-chain treasury and code changes governed by holders of the MIR token. TFL has no intention of keeping or selling MIR tokens, and there are no admin keys or special access privileges granted. The intent for this is to be a completely decentralized, community-driven project.

Mirrored assets are blockchain tokens that behave like "mirror" versions of real-world assets by reflecting the exchange prices on-chain. They give traders the price exposure to real assets while enabling fractional ownership, open access and censorship resistance as any other cryptocurrency. Unlike traditional tokens which serve to represent a real, underlying asset, mAssets are purely synthetic and only capture the price movement of the corresponding asset.

Mirrored assets provide the following advantages:

Global Accessibility: In most markets outside of Europe & North America, access to foreign equities and forex markets is highly limited. Crypto allows global accessibility without entry barriers.

Fractional Orders: In traditional finance, to execute a fractional order, multiple fractional orders are bundled together to execute a unitary transaction. The process of gathering all the orders into one requires additional waiting time. By utilizing the blockchain, orders volume is simply represented as a number on the blockchain, so there is no need for the intermediary bundling process.

Nearly-Instantaneous Order Execution: Oftentimes due to the lack of liquidity (price-time-priority order book algorithm), orders can take up to a day to fully execute. Given the fact that Mirror relies on liquidity provided by each individual asset pool, orders can be executed as fast as the blocktime of the network (~ 6 seconds).

Mirror Protocol

Enzyme

Balancer is an automated market maker (AMM) that was developed on the Ethereum blockchain and launched in March 2020. It was able to raise a $3M seed round by Placeholder and Accomplice. Balancer protocol functions as a self-balancing weighted portfolio, price sensor and liquidity provider. It allows users to earn profits through its recently introduced token ($BAL) by contributing to customizable liquidity pools.

To learn more about this project, check out our deep dive of Balancer(https://coinmarketcap.com/alexandria/article/what-is-balancer.

The protocol operates a few types of pools:

Private pools give the owner governance over the pool, and make the person the sole contributor of liquidity to the pool. Also, all the parameters are mutable by the owner.

Shared pools are for those who want to become liquidity providers (LPs). The LPs are rewarded with the Balancer Pool Tokens (BPTs).

Smart pools are similar to private pools but are controlled by a smart contract. They also reward using BPTs and allow anyone to contribute liquidity to the pool.

Balancer

Multichain (MULTI), previously known as Anyswap, claims to be the ultimate router for web3 and has positioned itself as an infrastructure developed for arbitrary cross-chain interactions.

As claimed in their official documentation, Multichain offers solutions that enable nearly all blockchains to interconnect – regardless if it is EVM chains (e.g., Avalanche), Layer 2 chains tied to Ethereum (like Polygon), Parachains networks like Moonbeam on Polkadot, and so on.

Multichain is a prominent name in the cross-chain space, with a rapidly growing network of 26 chains, with Total Value Locked (TVL) reaching highs of over $10.45 billion, and a sustained daily volume of over $100 million. However, the onset of the bear market and recent news of Multichain CEO being uncontactable saw TVL dropping to $1.38B.

Multichain

ShapeShift is a borderless, self-sovereign, cross-chain crypto trading platform and portfolio manager. The platform enables users to buy, sell, track, trade, and earn with 10,000+  assets such as Bitcoin, Ethereum, Doge, THORCHain, and Cosmos across 15+ chains via mobile or web. Users can connect with over 150+ software or hardware wallets, including ShapeShift, MetaMask, WalletConnect, KeepKey, and Ledger. MetaMask users can install the ShapeShift Multichain Snap to add support for Bitcoin, Doge, THORChain, Cosmos, and more.

ShapeShift is a 100% self-custody platform, meaning users always control their keys. ShapeShift does not collect personally information and stands on the pillars of decentralization, privacy, and self-custody. The project’s governance and utility token, FOX, makes trading more competitively priced than going directly to DEXs through ShapeShift's bespoke aggregation.

ShapeShift was founded in 2014 as a privately held company based in Switzerland. However, in June 2021, the organization announced that it was becoming a fully decentralized project, open-sourcing all of its source code and turning ownership and governance over to the community of FOX Token holders. It’s founder, Bitcoin pioneer Erik Voorhees, stated this decentralized model “is the only way to maintain user sovereignty.”

Shapeshift FOX Token

The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is open-source, permissionless, and entirely on-chain – currently implemented on Ethereum (with possible cross chain implementations in the future). The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC. The protocol incorporates the following concepts:

Fractional-Algorithmic – Frax is a unique stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The ratio of collateralized and algorithmic depends on the market's pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.

Decentralized & Governance-minimized – Community governed and emphasizing a highly autonomous, algorithmic approach with no active management.

Fully on-chain oracles – Frax v1 uses Uniswap (ETH, USDT, USDC time-weighted average prices) and Chainlink (USD price) oracles.

Two Tokens – FRAX is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS) is the governance token which accrues fees, seigniorage revenue, and excess collateral value.

Before Frax, stablecoins were divided into three different categories: fiat collateralized, overcollateralized with cryptocurrency, and algorithmic with no collateral. Frax is the first kind of decentralized stablecoin to classify itself as fractional-algorithmic ushering in the 4th and most unique category.

Frax Share

QuickSwap [Old]

Boba Network

Radworks

Rally

Bancor is an ecosystem of decentralized, open-source protocols that promote on-chain trading and liquidity.

Its main protocol, Carbon, is a decentralized trading protocol allowing users to perform automated trading strategies using custom on-chain limit orders and range orders, with the option of combining orders together to create automated buy low, sell high strategies.

By design, Carbon orders are irreversible on execution, easily adjustable directly on-chain, and resistant to MEV sandwich attacks. These capabilities give users an unprecedented level of control and automation to perform novel trading strategies on-chain.

Fast Lane, a separate open-source arbitrage protocol, allows any user to perform arbitrage between Bancor ecosystem protocols and external on-chain exchanges and redirect arbitrage profits back to the Bancor ecosystem.

All Bancor ecosystem protocols are governed by the BancorDAO via staked BNT.