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Last updated: Aug 20, 2023
Trisolaris is a DEX running on the Aurora engine, an EVM-compatible solution deployed on the NEAR blockchain. Essentially, this decentralized exchange is a fork of SushiSwap. Trisolaris was launched in October 2021 and in terms of trading volume and total TVL, it claims to be the largest DEX on Aurora.
Trisolaris Labs received development grants from NEAR Protocol and Proximity Labs. In April 2022, Trisolaris announced a strategic investment round led by Electric Capital involving Jump Crypto, Dragonfly Capital, Leminscap, and Ethereal Ventures, among others. The investment in Trisolaris Decentralized Autonomous Organization (DAO) was $4.5 million.
Trisolaris is a classic AMM that allows exchanging one token for another. Most of the tokens available for exchange on the platform are major popular ERC-20 tokens such as ETH, wNEAR, USDT, USDC, and others. The liquidity provided to the exchange comes from liquidity providers who place their tokens in pools. In return, they receive LP (Liquidity Provider) tokens, which they can invest into a farm to earn TRI tokens. By adding liquidity, users receive a commission of 0.25% of all trades on that pair, proportional to their share in the pool. Commissions are added to the pool, accrued in real-time, and can be claimed by withdrawing the liquidity provided. However, it is necessary to keep in mind the risks of impermanent loss.
An important distinction of Trisolaris is the Stable Automated Market Maker (AMM) feature, designed for liquidity providers and traders to have enhanced trading capabilities intended to increase their profit. This feature allows liquidity providers to minimize impermanent loss with the StableSwap invariant algorithm, developed by Curve, and traders to exchange stable pairs with three benefits: higher capital efficiency, lower commissions, and lower slippage.
The platform's exchange has an easy-to-use interface that includes a simple selection of two tokens. The interface is similar to other popular exchangers like Uniswap or SushiSwap.
To work with the Trisolaris app, the user needs to connect a wallet that supports ERC-20 tokens, such as Metamask or Coinbase Wallet. For convenient transfer of tokens to Aurora network from other popular networks, there is a separate menu called "Bridges" in the application interface, through which the user is redirected to bridges for different chains.
A Trisolaris fee of 0.3% is charged on each token exchange transaction, 0.25% of which goes to the liquidity pools, and the remaining 0.05% goes to the TRI token farm.
Users who stake TRI receive pTRI and earn a part of the protocol’s revenue in the form of LP Stablecoins. All income collected by Trisolaris DEX is converted into USN, USDT, and USDC. These tokens are then added to the existing pools to generate LP tokens, which are distributed among stakers depending on their share in the pool. Users have the choice of just claiming them or claiming and automatically staking their tokens in the StableSwap 3pool farm.
There is no fee charged for withdrawals from TRI staking. However, there is a 1,5 % deposit fee charged on the TRI deposit amount. TRI received from these fees is sent to the DAO Trisolaris and may possibly be burned in the future.
Trisolaris’ native token is the ERC-20 TRI token, which has a total supply of 500 million. The distribution of TRI tokens is as follows: 70% Community + Liquidity Incentives; 15% Treasury for future strategic partnerships, investors, and more; 15% Current and Future Team. Starting in February 2022, Trisolaris plans to systematically reduce the rate of emissions of its TRI token over the course of 3 years, across all its liquidity mining programs.
The main functions of the token are governance and staking.
A Trisolaris audit is in process at the time of writing this article, however, the team behind the platform claims that the smart contracts behind its Trisolaris Stable AMM have been forked from Saddle Finance, who had them audited by various security companies.
The Trisolaris team is anonymous.
TriSolaris cooperates with popular protocols such as Synapse, which facilitated the launch of TRI-MetaPool with nUSD; Rift Finance, which helps increase the liquidity of the project. There is close cooperation with Aurigami and Bastion, which added the TRI token to their websites. To expand the pools of farms, partnerships have been established with Rose, LiNEAR, and the Shitzu community.
An up-to-date roadmap is under development.
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