Q&A With Founder Christof Waton
Hello to all! I am sure you’ve already seen that we’ve changed a bit and hope you like our new colors. Just a few days our founder and mastermind behind the project Chris Waton joined CMO Jiazi for a video call interview to discuss the project’s latest news and milestones.
Video material is being produced and edited. Meanwhile, we decided to give you a taste of it and transcribe some parts in order to reveal key focus areas and the main immediate features of the upcoming Acta Finance platform. We hope this will bear interest to you and serve as a brief interim development update.
So first things first. The project just finished rebranding and will from now operate under a different flag, title and design. Since we’re gathering to take the DeFi market by storm and with renewed vigor, we felt it is only appropriate to give ourselves a new stage name. From March 7th, we’re no longer ADA Finance, we’re Acta Finance.
The name comes from Acta non verba — a Latin phrase that translates to ‘deed, not words’ and perfectly illustrates the motto behind the project. There is a lot of frustration in the industry with new projects which are based on empty promises, painting a beautiful vision but lacking execution. We at Acta Finance don’t want to follow in those footsteps and tread a new path by making our name known through dedicated work and on-time delivery.
💛 We’re here to act, build and execute and hope you’ll tag along for the journey.
So with the rebranding off and out of the way, we can move to the interview transcript. Have in mind this transcript focuses only on a few sections of the discussion while the whole interview will be released to the public in the coming weeks.
Q: What’s the next big development target of the Acta Finance team?
A: Up next, a top priority is put on the swap functionality. We’re pulling all development streams into the picture and plan to release the ActaFi Swap in 6 and a half months, just in time with the first vested token release. It will be a great opportunity for early adopters to start putting their assets into liquidity provider positions in order to start earning yield.
Q: Are there any specific plans surrounding the release of the Swap?
A: Oh yes. We’ve some plays up our sleeve — once the ActaFi Swap goes live, we’re gonna launch an incentivized farming program to reward liquidity providers and we’ll be launching a trading competition with a six-figure prize pool to facilitate even more trading and, therefore, fees for LPs. This will give Acta Finance users 3 instant use cases inside the platform: stake tokens to receive passive rewards, become liquidity providers to earn fees, and incentivize rewards or earn through participation in the trading competition.
Anyone who’s entered the presale or will acquire ACTA tokens on the upcoming IDO can already start calculating different options to evaluate the opportunity cost and the most feasible scenario for their risk appetite.
Q: Will there be anything special about the ActaFi Swap?
A: There are plenty of specialties we got in store for the ActaFi Swap. These can be broken down into 3 components and can be discussed separately.
The first one is the modern AMM. ActaFi Swap will not be your regular constant function (xy=k) AMM and will employ a bit of an advanced market-making model, the one used in UniSwap V3. ActaFi Swap will have the dedicated spread liquidity option allowing for a more efficient liquidity allocation for LPs.
What is more, there will be an option to create trading pools with different trading fee levels in order to cater to the different needs of market players and liquidity providers.
The second innovation that we’re bringing to the swap is a 1-inch like liquidity aggregator on Avalance. This functionality will allow us to route a swap transaction to the pool with the most favorable price for the trader, increasing market efficiency and price parity across different pools and decentralized exchange across the market — all that done behind the scenes by verified smart contracts. The buyer never has to worry about anything and is always happy because he’s getting the best price possible.
If one needs to execute a large order and uses only one platform, the price volatility and slippage-induced losses can often be too high and result in significant losses. A liquidity aggregator routes the order in different weights from a number of vendors to provide the best possible outcome through the backend. It’s neat and very useful.
And the last key innovation that we’re building in the swap is a token bridge, functionality at the core of cross-chain functionality, especially for the Cardano ecosystem. Tokens and their respective liquidity are getting increasingly spread out over various blockchains.
If you need to buy a token on blockchain A and then bridge it to blockchain B — it tends to still take a lot of time and in some cases, rely on centralized counterparts. What we’re going to do, is make the token bridges work in the backend in connection with liquidity aggregation in order to bring the lowest possible price for the end-user. All of the 3 parts play into each other and bring value in a unique way.
I understand that this is a lot to consume right away but that’s where we are going. To reiterate, the 3 bullet points to take away from this are:
- Token bridges tapping into different L1s and L2s;
- Liquidity aggregation combining market information from all available pools across the market;
Modern market-making function allowing for more efficient price action and dedicated liquidity with multiple protocol fee pools allowing internal arbitrage between them;
And these are just the first steps we’re planning to execute and bring Avalanche DeFi ecosystems to another level. Our agenda is fully filled in for the upcoming 6 months. That’s the teaser bit we wanted to showcase today.
Stay tuned for more, because more is coming.🔥🔥
About Acta Finance
Acta Finance is a cross-chain DeFi platform governed by smart contracts that innovates the Avalanche ecosystem with the ActaFi Swap and a referral system. Acta Finance introduces a Referral Program, Address Milestone Rewards, and a DAO Program to maximize platform growth and user activity-based rewards. By offering derivatives in a decentralized way, through ActaFi Swap, Acta Finance aims to counter the manipulated liquidation events on centralized entities by using a decentralized price feed and a cross-chain liquidity aggregation.
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