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What is Affine? Things to know about the Affine . project
- What is Affine?
- Affine's operating model
- Outstanding features of Affine compared to other Yield Farming projects
- Development team
- Investors
- Tokenomics
- summary
What is Affine?
Affine is a Yield Farming platform deployed on many different blockchain networks, such as: Ethereum, Polygon… Users can simultaneously deposit multiple assets on different DeFi platforms into Affine to maximize profits. profit.
Affine's operating model is extremely simple, users only need to deposit money into a Pool called Basket and the implementation of strategies on many other DeFi platforms to make profits will be handled by Affine. Currently on Affine only Basket USD Earn is active, the remaining Basket projects promise to put them into operation in the nearest time.
Affine's operating model
Currently on Affine only Basket USD Earn is active and the way it works will include the following 3 steps:
Step 1 : User deposits money to proceed to buy Basket tokens in Basket Vault. Currently, only Basket USD Earn works with USDC token.
Step 2 : User's USDC will be invested by Affine in different strategies on many DeFi platforms such as: Uniswap, Curve Finance, Aave, Compound with the weights respectively: 20% Compound, 35% Aave , 45% Curve Finance.
The strategy of each platform is as follows:
- Uniswap applies a one-sided liquidity supply strategy. That is, part of the user's USDC will be used as collateral on Aave to borrow WETH. Affine will then carry this WETH and the rest of the USDC to provide liquidity for the WETH-USDC pair on Uniswap.
- Curve is similar to Uniswap, a part of USDC is used as collateral to borrow out MIN, FRAX, etc. and the remaining USDC will be combined with borrowed assets provided with liquidity on Curve Finance.
- Aave and Compound use USDC that users deposit into Affine to lend and profit from their own platforms.
Step 3 : Users can stop using strategies at any time by selling Basket tokens on Basket Vault.
Outstanding features of Affine compared to other Yield Farming projects
Affine is a multi-chain protocol, so users can easily bring assets to profit on many platforms on many different blockchains. Therefore, the profits generated from this form will be higher than that of traditional Yield Farming platforms, but also contain more risks to users' assets.
Development team
Tarik Adnan Moon – Founder: He graduated with a degree in applied mathematics and computer science from Harvard University. In 2015, Tarik Adnan Moon assumed the position of Data Scientist at EDO Inc. After that, he quit his job and focused on developing Affine DeFi from 2021.
Shajal Ahamed – Contributor: He graduated with a bachelor's degree in computer science from Chittagong University. Shajal Ahamed has been a Software Engineer of Renata Limited since March 2017. In March 2019, he decided to quit his job and join many other companies such as itechsoftbd, SELISE rockin' software, Intercloud Limited, AirAsia but only worked for a short time. Until August 2022, he joined and developed the Affine DeFi project as a Contributor.
Prosenjit Chowdhury – Contributor: He holds a bachelor's degree in electrical and electronic science from Independent university Bangladesh. In September 2017, he joined Cliniva Bangladesh as a Web Developer. By the end of 2021, he moved to work for Affine DeFi as a Contributor.
Investors
At the end of 2022, Affine successfully raised $1.8 million. Recently on February 23, 2023, the project raised an additional $ 5.1 million from investment funds such as: Hack VC, Jump Crypto, Coinbase Venture...
Tokenomics
Currently, information about the project's Tokenomics has not been announced. TraderH4 team will update after official information from the project.
summary
Above is the information you need to know about the Affine project. With a simple design, Affine facilitates users to access a better form of profit. While helping users simplify the process and optimize the profit received, Affine has just been launched and there is not much data to prove its success. Therefore, readers need to research carefully before investing in this project. If you are interested in the Affine project, you can follow the following social networking sites:
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