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Development of a decentralized staking protocol Asymetrix

The IdeaSoft team has successfully implemented the Asymetrix protocol, an innovative decentralized and non-custodial platform. This protocol enables users to stake their stETH with a distinctive method of generating yields.

By using the Asymetrix Protocol, users can participate in the staking process without relying on centralized entities to hold their assets. Instead, they have full control over their funds while benefiting from the unique yield generation mechanism offered by the protocol.

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Client Asymetrix

Services Software Blockchain UI/UX design

Technologies Blockchain - Ethereum Back-End - Solidity; Node.js Front-End - React.js

Link asymetrix.io

Project Description

Overview

Asymetrix is an Ethereum-based decentralized and non-custodial protocol that empowers users to deposit their stETH (staked Ethereum) and have a chance to win valuable staking rewards. Developed by the IdeaSoft team, the protocol incorporates a stable yield-generating mechanism while ensuring transparent prize distribution functionality.

One of the challenges encountered with traditional staking is the relatively low yields it offers. In many cases, staking a small amount of ETH may not yield significant rewards, which can deter users from participating. However, Asymetrix tackles this problem by introducing a unique approach that allows users to win substantial rewards, even with a relatively small stake.

To achieve this, the Asymetrix protocol pools together the generated yield from all staked ETH. The protocol then distributes these yields randomly and asymmetrically to a single user. This means that any user, regardless of the size of their stake, has a chance to receive a substantial reward. This innovative distribution method ensures that participants can potentially win big and makes staking with Asymetrix an enticing and rewarding experience.

In addition to its decentralized protocol, Asymetrix introduces a DAO (Decentralized Autonomous Organization) and protocol tokens for governance and airdrop possibilities. These tokens enable community members to participate in decision-making processes actively and benefit from potential airdrop events.

Target Audience

Target Market

The target market for Asymetrix primarily consists of stETH holders who are seeking fresh and thrilling avenues to generate additional yields. The platform particularly appeals to younger, financially-savvy users comfortable with DeFi applications and blockchain technology.

Requirements

Development of a secure financial instrument that incorporates a well-defined revenue generation strategy built within Ethereum blockchain ecosystem;
Implementation of a DeFi application that features a transparent reward distribution algorithm, ensuring a fair determination of winners based on accurate and authentic data;
Establishment and launch of a DAO to govern and enhance the Asymetrix Protocol in accordance with users’ proposals. This feature should facilitate community engagement, allowing for continuous improvement and development of the protocol’s functionalities.

Implemented Solution

– Developing a stable yield-generating protocol that allows users to deposit any amount of stETH and win a prize without needing to risk their money (assets);

– Designing a transparent prize distribution functionality using Chainlink VRF for secure, transparent, and decentralized random winner selection;

– ASX (ERC-20) protocol token creation and implementation for governance and airdrop programs;

– Launch DAO of Asymetrix on Snapshop.

Core Protocol Features