Glitter Finance is a cross-chain bridge connecting multiple L1 ecosystems including Algorand, Terra, Polygon, and Cudos. The project is being established to solve the problems of fragmentation and inefficiencies of DeFi’s cross-chain bridges.
What is Glitter Finance?
Glitter Finance is a cross-chain bridge between Algorand and other supported blockchains including Cudos (an Algorand ecosystem partner), Polygon, Solana, and Terra. Glitter is also a DeFi 2.0 platform that features advanced elements such as integrated yield pools, which transform our bridge into an investment platform. In our design, we can open the vault on either chain and integrate the synthetic tokens created by the Glitter Bridge into the existing yield pools.
Another advanced feature will be the presence of AI and algorithms. The point of this is to drive to mass adoption, by including features that will create a smart and intuitive DeFi. Lastly, we are looking to integrate crypto to fiat solutions to facilitate a streamlined exit of DeFi dividends for our traders.
- Create an advanced cross-chain bridge that eliminates capital inefficiencies by allowing traders to profit through redeployment of Glitter Bridge wrapped tokens into existing profit pools, integrated on Glitter Platform.
- Implement algorithmic trading to make the trading process easy for new traders.
- Enhance interoperability on the DeFi blockchain space by connecting different ecosystems with its advanced, decentralized cross-chain bridge – Glitter Finance. This is why the project is committed to helping Algorand improve its interoperability by connecting with other layer-1 ecosystems like Solana, which has already succeeded in building a strong Defi ecosystem. exceptionally strong.
What is the unique selling point?
- Creating a cross-chain bridge between Algorand, Solana, Polygon, and Terra blockchains to allow traders from all ecosystems to take advantage of DeFi’s economic advancements;
- Embedding yield in the bridge to solve capital inefficiencies and create a connected ecosystem for all traders and community members;
- Creating a cross-chain bridge with multiple chains to eliminate fragmentation;
- Yield integrating that will become a hub for blockchain enthusiasts.
- Trading within the ecosystem of partner blockchains within the bridge will be rewarded with yield, encouraging traders from Solana, Algorand, Terra, Kudos and Polygon DeFi to engage;
- Making the platform easier to use and easier to adopt for new users;
- Reducing gas fees with blockchain technologies, such as Polygon;
- Leveraging Solana technology to achieve carbon neutrality.
Glitter Finance has created a multi-channel revenue strategy.
Cross-bridge swap fees: As a platform leveraging the existing SolanaQbridge for ETH and BSC, Glitter Finance will charge a 0.30% fee against every cross-bridge swap. The revenue generated via swap fees will increase with the adoption of the platform, propelled through promotional strategies and strategic partnerships.
Yield commission model: Glitter Finance provides a platform to unlock the yield-generation capabilities of locked assets across different chains. GlitterQFinance will charge 10% of the net yields generated by the user as a fee for using its platform.
B2B: Glitter can create a white-label technical solution for creating an incentivized, cross-chain bridge, which we can offer as a solution to multiple blockchain technology providers. This is one of our two B2B revenue streams.
Integration: Glitter can become a liquidity provider and lender for various businesses that may globally need such liquidity.
NFTs: NFT minting, marketplace sales, and commission. Please see the addendum. 1 commission for every NFT sale will be the Glitter Finance standard.
Glitter Finance will hold these funds within its Treasury. In addition to creating direct revenue streams through cross-bridge swaps and yield commissions, Glitter Finance will have control of the original collateral until the user burns their synthetic tokens. This collateral can be deployed strategically to build multiple revenue streams.
Glitter will begin with centralized control of the protocol (such as whitelisting initial yield farms0and building out the capability to interact with new chains), and over time, will transition into0community-led protocol. The admin key for the token contract will be burned. The following0rights in the protocol are controlled by the admin and will ultimately be controlled by the AO Glitter community:
- The ability to list a new yield farm.
- The ability to update the treasury fees for yield collected from the redeployment of user assets.
- The ability to update cross-chain transfer treasury fees./The ability to update oracle addresses.
- The ability to choose a new admin, such as an AO controlled by the community; because this AO can itself choose a new admin, the administration can evolve over time, based on the decisions of the stakeholders.
- The ability to spend assets from the Treasury.
Phase 1: MVP Development (Oct, 2021 – End of Q1, 2022)
- Whitepaper 2.0
- Team Onboarding
- Private Token Sale
- $XGLI Token launch on TESTNET
- Algorand < – > Solana Testnet launch
- Initial fiat service integration
- Whitepaper 3.0
- $XGLI Token launch on MAINNET
- Algorand < – > Solana MAINNET
- Algorand <-> Polygon on TESTNET
- Algorand <-> Terra on TESTNET
- Public Sale
Phase 2: Product Scaling
- Integration of Algorand yield farms
- Integration of Solana yield farms
- Algorand <-> Polygon on MAINNET
- Algorand <-> Terra on MAINNET
- XGLI Staking
- DAO Launch
Integration of Major Chains (Terra <-> Solana, Terra <-> Polygon, Solana <-> Polygon)
- Integration of Yield Farms
- Launch of Leaderboards
- Fiat Integration
- Machine learning models deployment
- Launch of single click yielding recommender system
Launch of mobile application
Phase 3: Product Expansion
Launch of the Cross-Chain Swap
Launch of Cross-Chain NFT Marketplace
Optimization of ML models even further
- Token Name: Glitter Finance
- Ticker: XGLI
- Blockchain: Algorand
- Token Standard: ARC-01
- Contract: Updating
- Token Type: Governance
- Total Supply: 500,000,000 XGLI
- Circulating Supply: 5,883,151
Token Release Schedule
- Pre-Seed: 5% at TGE, Rest Linear Vesting over 12 months
- Seed: 5% at TGE, Rest Linear Vesting over 12 months
- Strategic: 10% at TGE, payable in 6 months
- Private A: 5% at TGE, Rest Linear Vesting over 12 months
- Private B: 6% at TGE, Rest Linear Vesting over 12 months
- Private C: 7% at TGE, Rest Linear Vesting over 12 months
- Private D: 7% at TGE, Rest Linear Vesting over 12 months
- Institutional Round 1 – VCs: 0% at TGE 6 Month Cliff, Rest Linear Vesting over 12 Months
- Institutional Round 2 – Strategic: 0% at TGE 6 Month Cliff, Rest Linear Vesting over 12 Months
- Institutional Round 3 – Community: 6 Month Cliff, Rest Linear Vesting over 12 Months
- Public Sale: 20.0% at TGE, Rest 20% for next 4 months
- Team: 9 Month Cliff, then linear vesting over 12 months
- Advisors: 6 month Cliff, Rest linear vesting over 12 months
- Incentives/Staking/Airdrop/Giveaway: 1.12% at TGE, Rest, Strategic Release for Ecosystem Incentives, Staking, Airdrop
- Marketing: 1% at TGE, Rest linear vesting over 18 months
- Treasury/Reserve: 3 Month Cliff, then linear vesting over 18 months
Token Use Case
- List the new yield farm.
- Updated treasury fees for user asset redeployment gains.
- Updated cross-chain transfer treasury fees.
- Update oracle address
- Choose a new admin, such as a community-controlled DAO.
- Ability to spend assets from the treasury.
Market and Community
Glitter Finance has crossed the mark of 19,1K Followers on Twitter.
Glitter Finance aims to build a platform that allows bridges to redeploy a certain amount of collateral into yield bearings, thus creating an extremely liquid and efficient platform for DeFi traders.
Find more information about: Glitter Finance
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.