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Last updated: Aug 22, 2023
Adamant is a yield optimizer platform that allows users to automatically compound Liquidity Provider (LP) tokens to Adamant’s vault contracts to maximize profits.
The compounding process is often quite tedious and costly. Adamant automates this process, providing a way to maximize yield farming income while reducing gas costs.
The Adamant auto-compounding vaults automatically sell the harvested reward tokens, increasing the number of staked LP tokens. In other words, when users withdraw from a vault, they withdraw more tokens than they initially staked. Additionally, they can claim some ADDY rewards.
The vesting period for ADDY minted in the vault is 90 days, during which ADDY earns performance fees. Vested ADDY can be withdrawn early, but with a 50% early exit penalty.
An additional feature on the platform is the Adamant Furnace, which allows to smelt (burn) ADDY to earn Adamant’s partner’s assets.
The Adamant app can be used to deposit Liquidity Provider (LP) tokens to Adamant’s vault contracts to earn more LP tokens. In case a user does not have LP tokens yet or would like to increase/decrease their number, they can quickly add/reduce liquidity through the corresponding vault and then stake the LP tokens in the vault. The Adamant fees of 0.5% applies to withdrawals if they are made in less than 72 hours after the deposit.
Currenltly to interact with the app, users need to have a wallet Adamant supports - such are MetaMask and the Crypto.com wallet.
ADDY can be staked in return for profits from Adamant vaults. In addition, locking ADDY also boosts the amount of the token earned by up to 100% for most of Adamant vaults. The token also allows users to participate in the governance process of Adamant.
The native token of Adamant Finance is ADDY. The Polygon-based token provides value for liquidity providers and farmers. ADDY has no maximum supply, the amount of tokens minted is based on the profits generated through vault performance fees, with some ADDY minted for every 1 ETH earned in performance fees. The amount of ADDY minted per ETH can be found on the Emission schedule page. Some tokens are used to buy back ADDY to form Protocol Owned Liquidity (POL). This provides deflationary pressure on the value of the token.
ADDY held in a wallet can be locked for a period from 91 days (3 months) to 1460 days (4 years). Locked ADDY cannot be withdrawn until the locking period has ended. By locking tokens, users receive a number of benefits: WMATIC performance fee dividends, 100% of the penalty fees paid for vested ADDY withdrawal, ADDY from buybacks and ADDY boost points (BP) which increase ADDY earnings from staking.
An important nuance is that Adamant Finance has separate native tokens for each chain the platform operates on. However, ADDY tokens on other networks fulfil the same purpose as ADDY on Polygon.
The Adamant team members’ identities are anonymous.
Adamant Finance has partnered with CronaSwap, DEX on the Cronos chain, allowing users to easily access the platform from its main menu to swap, farm and stake assets.
There also have been multiple collaborations between Adamant and various projects through the Adamant furnace, where users can receive a partner's token by smelting (buring) ADDY tokens. The current partner is a decentralized exchange QuickSwap. Quick tokens can be earned on Adamant by smelting (burning) ADDY tokens.
At the moment, the team's main priority is the implementation of the new UI. And there are also plans to add more blockchains such as Harmony, Avalanche, Fantom, as well as further revenue sharing between networks/bridges in the first quarter of 2022.
https://adamantfinance.gitbook.io/adamant-finance/
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Last updated: Aug 22, 2023
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