5 Ways Agoric Orchestration Makes Web3 Access Easier
Web3 users currently expend too much energy pondering which chain their liquidity resides on and too much time interacting with protocols not designed for users.
In light of this issue, Agoric steps in to provide convenience through the Agoric Orchestration API. This is a tool developers can utilize to streamline development. Here are some use cases of Agoric Orchestration:
1. Maximizing Multi-Chain Stablecoin Yield
In DeFi, earning interest from stablecoins like USDC, IST, or DAI is crucial.
One way to earn interest is by depositing stablecoins into protocols like Maker, Shade, or Inter Protocol. However, the issue arises when needing to move stablecoins from one blockchain to another, such as from Cosmos to Ethereum.
This could be cumbersome as it involves multiple transactions, different wallets, and several bridges. Noble CEO, Jelena Djuric, even stated that not everyone will easily overcome all these issues.
With Agoric Orchestration, all these steps can be completed within the same interface with just one signature required from the user. Here's how it works:
Deposit USDC into the Maximizing Multi-Chain Stablecoin application.
The smart contract in the application searches for the best interest rates across more than 70 connected chains.
The contract then places USDC into the protocol offering the best returns.
The application regularly checks interest rates and adjusts if necessary.
You get returns without the hassle of doing all this manually.
With Orchestration, you can easily choose the best protocol without being tied to a single blockchain. This makes capital allocation more efficient, and developers can create applications that automate this process.
2.Multi-Chain Vaults
In DeFi, vaults are a way to lock your assets within an application and benefit from automated strategies. For instance, you could use Inter Protocol to lock assets like ATOM or stTIA and borrow IST against those deposits. This is common in DeFi, but the process can be quite cumbersome.
Cross-chain vaults are the solution to this problem. You don't need to bother moving assets from one chain to another. You simply lock your assets in their original chain and access tokens in the new chain without moving your original assets. This feature also works with NFTs, used in the Crabble application.
Cross-chain vault applications will display a list of available vault options. You can choose a vault with one click and set the amount of assets to lock with a second click.
Everything is done automatically once you sign one signature. With Orchestrations API, developers can easily include all these features in their applications.
3.Multi-Chain Staking Manager
The staking challenge across various blockchains forces token holders to face the complexity of processes involving numerous transactions and interactions with various applications.
To address this, multi-chain staking manager applications provide a solution by simplifying user access to and comparison of staking across various blockchain networks, allowing them to optimize their rewards and security.
Meanwhile, Agoric Orchestrations also provide a solution that allows developers to build multi-chain staking applications without requiring additional signatures from users. This allows smart contracts to execute staking actions automatically, reducing the complexity and increasing the efficiency of staking processes across various blockchains.
4.Multi-Chain Swap Aggregator
Technologies like Squid Router, Skip Protocol, and DEX aggregators like 1inch or CoW Swap have transformed how platforms assist users in navigating trades and asset transfers across various blockchains. With the aid of these tools, users can easily find the most efficient trading routes and optimize their transaction costs.
Multi-chain swap aggregators, which may operate on a larger scale than current swap aggregators, promise to deliver a better experience for users.
With increasing interoperability, such platforms can provide better access to various blockchains, helping users exploit trading opportunities better and improve overall transaction efficiency.
5.Multi-Chain Liquidator
Multi-Chain Liquidator is a crucial tool in DeFi that manages the liquidation process, where collateral assets are sold to repay loans if their value falls below a certain threshold. This is crucial for risk management and maintaining the liquidity of lending markets like UX Chain. However, cross-chain liquidation remains a challenge due to its complexity.
With the help of Orchestration APIs, developers can build liquidators that automatically detect and handle liquidations efficiently, maximizing asset value recovery and reducing the risk of losses. This helps platforms like UX Chain support strong multi-chain lending markets.
Conclusion
Agoric Orchestration provides solutions for Web3 users looking to manage their liquidity more efficiently across various blockchains. With this API, developers can create applications like Maximizing Multi-Chain Stablecoin, Multi-Chain Vaults, and Multi-Chain Staking Manager to simplify the DeFi experience.
Technologies like Multi-Chain Swap Aggregators and Multi-Chain Liquidators also promise advancements in improving the efficiency and accessibility of cross-chain DeFi markets.
Thus, Agoric Orchestration brings innovation that expands the scope and accelerates the growth of the DeFi ecosystem.
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*Disclaimer:
This content aims to enrich reader information. Always conduct independent research and use disposable income before investing. All buying, selling, and crypto asset investment activities are the reader's responsibility.
