Detailed analysis of the Archimedes cryptocurrency project

• About Archimedes . project
• Archimedes' products
• Outstanding Features of Archimedes
• How it works
• Development roadmap
• Development team
• Investors
• Tokenomics
• Basic information
• Token Allocation
• Token Use Case
• Epilogue

About Archimedes . project

Archimedes is a Defi (Decentralized Finance) protocol on the Ethereum network, focusing on Lending and Borrowing with leverage. The special feature of Archimedes is that it allows users to provide liquidity to receive rewards from the project Pool, and at the same time can mortgage their assets to borrow Stablecoins from the Pool.

With Archimedes, users can borrow and lend at competitive interest rates, with no restrictions on loan duration or quantity. In addition, the project also features automatic refinancing and interest rate hikes to increase the attractiveness of liquidity providers.

Archimedes' products

Archimedes is a DeFi (Decentralized Finance) project with a Lending product for liquidity providers. Users who provide liquidity into the 3CRV/lvUSD Pool (including USDT, USDC and DAI) will be rewarded with sustainable APY from the project's Real Yield revenue. The stablecoin of the lvUSD project is 1:1 against USD. 

The project generates revenue from 3 fees: Leverage Fee, Origination Fee and Performance Fee. The Leverage Fee is a fee when the Borrower (the Borrower) mortgages an asset to open a leveraged position that allows for more assets to be borrowed. The Origination Fee is the fee when Borrower first opens a position, with a fee of 0.5% of the borrowed amount. The Performance Fee is a fee of 30% of the money earned from Borrower's position, and this money will be deposited into the project's Treasury.

Taking Leverage is a product that allows borrowers to collateralize their assets so that they can borrow a higher value of Stablecoins than collateral thanks to the project's leverage mechanism. Leveraged positions will be encapsulated into an NFT (Non-Fungible Token) and users can make this NFT trade on the NFT Marketplace.

Outstanding Features of Archimedes

Leveraged positions are packaged into NFT and tradable on the NFT Marketplace, solving the problem of leverage scarcity by allowing users to buy back someone else's leveraged positions. This makes it possible for users to borrow a larger amount than the collateral value. The project is transparent and clear because it is developed with open source code. In addition, the project provides attractive and sustainable APY levels to help liquidity providers earn stable profits.

How it works

Here are the detailed steps to make Borrower (borrower) mortgage 1000 OUSD and use leverage x10 to borrow 10,000 OUSD through leveraged platform:

Step 1: Lender (Lender) provides liquidity to Pool 3CRV/lvUSD on Curve.fi including USDT, USDC and DAI and receive ARCH with APY from 0.3% to 6.7%.

Step 2: Borrower collateralizes 1000 OUSD and uses leverage x10 to generate 9000 lvUSD.

Step 3: Borrower automatically swaps 9000 lvUSD at Pool 3CRV/lvUSD to get out 9000 USDT or USDC or DAI.

Step 4: Borrower continues to automatically swap 9000 USDT or USDC or DAI at Curve.fi to receive 9000 OUSD, with a total value of up to 10,000 OUSD.

Development roadmap

Q1 2023:

• Protocol, Web App, Curve Pool and ARCH Token launched.
• OUSD is accepted as collateral.
• LUSD and sUSD are added to the collateral list.
• Add feature Earn

Q2 2023:

• WBTC and ETH are added to the collateral list.
• Supports many different wallets.
• Launched Auto-Compounding feature.

Q3 2023:

• Launch of Cross Chain feature to support multiple assets on different Layers 1 and 2.

Development team

OZ Rabinovitch is the founder and CEO of the company. He graduated with a Master of Business Administration from MIT in 2017 and previously had more than 3 years of experience as a Director at CBRE - a global real estate consulting firm with more than 10,000 employees.

Tomer Mayara is the founder and CTO of the company. He graduated with a master's degree in business administration from MIT University in 2015 and has extensive experience in the field of technology, having worked as a Freelancer in software development since 2007. Before joining Archimedes, he had more than 3 years. product management experience at Okta – a unicorn in the field of software development in the US.

Investors

Archimedes' total raised capital is $7.3 million after two rounds of funding.

In the Pre-seed Round, Archimedes raised US$2.4 million led by Shima Capital, with participation from Hack VC, NFR Ventures, BitScale, Kesha Ventures and several strategic investors such as Origin Protocol , Halborn and Simplex.

In the Seed Round, Archimedes raised US$4.9 million led by Hack VC, with participation from Uncorrelated Ventures, Psalion, Truffle Ventures, Cogitent Ventures, Haven VC, Palsar and several other investors.

Tokenomics

Archimedes uses 2 tokens:

ARCH: The project's governance token.

lvUSD: The project stablecoin is worth 1 USD.

Basic information

• Name: Archimedes Finance
• Ticker: ARCH
• Blockchain: Ethereum
• Contract: Update…
• Total supply: 100,000,000 VND

Token Allocation

The project's token distribution is done as follows:

• 50% of the token is reserved for the community liquidity mining program.
• 30% of tokens are reserved for current and future team, but will be locked for 1 year and subject to Vesting policy every 3 months.
• 15% of the token is reserved for current and future investors, but will be locked for 1 year and subject to the Vesting policy every 3 months.
• 5% of the token is spent on costs related to development, auditing, service delivery and partners of the project.

Token Use Case

ARCH has three main uses as follows:

• Project management.
• Reward those who provide liquidity.
• Used to pay borrower fees.

Epilogue

Archimedes is a new project with a unique idea and they have successfully raised capital up to 7.3 million USD. This shows that the project is worth paying attention to in the future, especially with a project on lending and borrowing.

However, the project currently has many limitations in Tokenomics design and the question is whether the project can retain liquidity providers. Moreover, whether the project can attract enough borrowers is also a challenge for Archimedes. You can see more information about this project on the following social platforms:
Website | Twitter | Discord | Medium

• SEC Chairman wants to have a strict regulation of cryptocurrencies
• Hacker returns the hacked money to Tender.fi, receives a bonus of 97,000 USD