Crystl Finance - Novel Yield Aggregation to Maximize Earnings & Sustainability on BitTorrent Chain

TRON Hackathon Hackathon Season 2
1

Project Name: Crystl Finance

Project Track: DeFi

DevPost URL: Crystl Finance | Devpost

Project Goal: We aim to give users and projects the best methods of maximizing their earnings with our novel yield aggregation strategies while keeping token prices high and growing the entire ecosystem.

Project Info: Crystl Finance is a Yield Maximizer & Vaulting Platform on the Cronos, Polygon (Matic), and BNB blockchains. We offer Vaulting as a Service to DeFi and Blockchain projects as well as users in order to help them maximize their liquidity and earnings. Crystl Finance is listed on the Crypto.com DeFi Wallet app and we have partnered with multiple large partners including ApeSwap and Relay Chain to provide Vaults and build liquidity and we plan to do the same with the leading projects on BitTorrent Chain.

Crystl Finance will bring new users and continued marketing to the BitTorrent Chain Ecosystem. We have had over 180,000 site users in the past 3 months, and over 25,000 community members across our social media sites. These numbers will increase even further as we expand to multiple new blockchains. We will heavily market both the launch and all partnerships and updates we have on BitTorrent Chain in order to bring as many new users as possible.

We have released our own unique Vaulting and Yield Maximizing Strategies through our V3 Vaults and Ultra Farms which have been fully audited (link to audit: Audits - CRYSTL Finance). With V3, we are able to streamline the user experience with our Zap Functionality which allows users to go from a single token to an LP deposited in the Vault in one transaction. We can also “Boost” our Vaults with additional rewards in order to build greater liquidity and attract new users. These will also allow further maximization of liquidity on BitTorrent Chain as well as reduce sell pressure on projects’ tokens which will help native token prices increase overtime.

Project Repo/Website: Crystl.Finance · GitHub

Project Details:

Crystl Finance Website & UX:

Long term vision

Our long-term vision of Crystl Cross-chain expansion and development comes in 3 phases:

Phase 1: Novel Yield Integration

This comes in the form of our V3 Vaults and Ultra Farms which support and build DEXes and DeFi projects. Our novel code will give users numerous ways to invest as well as allow for smart contracts to be built on top of one another creating innovative chains for yield maximization and wealth management.

Phase 2: Cross-Chain Strategy

Crystl will expand to multiple new blockchains with marketing support, protocol introductions, strong grants & incentives, and aligned visions to ensure an effective launch.

With our expansion, we incorporate our in-depth website analytics to create agile marketing dashboards to consistently improve and optimize the user journey and experience.

Phase 3: Cross-Chain Smart Yield Aggregation

Our final phase will introduce revolutionary new ways for users to seamlessly maximize their yields across multiple chains.

  1. Simplified User Flow - Users are able to deposit the tokens that they own, choose the earning token that they want, and select their risk tolerance to achieve the ultimate personalized strategy
  2. Off-chain Machine Learning and Graph Algorithms - Based on the selected criteria, an off-chain database uses ML and graph database algorithms to route the optimal path of yield aggregation across different chains and earning opportunities.
  3. Cross-chain Compatibility - Using the algorithms, users’ funds are sent or leveraged across multiple chains without them having to worry about or using new chains.

Team presentation

Our full presentation on what Crystl Finance currently offers and what we are working towards in the future: Crystl Vision

Roadmap

Q3 & Q4 2022

  • Expand our product offering to 15 Blockchains in total in order to build up our user base and total value locked.
    • With our current projections, we are aiming to have over $10M TVL, 100,000 active monthly users, and 60,000 community members by the end of 2022.
  • Researching, building, and implementing new yield maximization strategies through our V3 Vaults which will allow us to further bolster our platform and product offering.
  • As we move to more blockchains, we will be collecting data to create our Smart Cross-Chain Yield Aggregation.

Q1 & Q2 2023

  • Begin the initial creation of our Smart Cross-Chain Yield Aggregation which will allow users to seamlessly use a network of yield aggregation strategies cross-chain from a single dashboard.

Q3 & Q4 2023

  • Have the first working iteration of our Smart Cross-Chain Yield Aggregation completed and functional.

Which values the project brings to the BitTorrent Chain Ecosystem

Crystl Finance’s V3 Vaults bring completely original & novel infrastructure to BitTorrent Chain, allowing for the creation of automated yield farming strategies with unprecedented flexibility and customization. Highly scalable and adaptable, V3 infrastructure supports:

  • Token Swaps: The ability to swap earned tokens for other tokens on native or non-native AMMs where liquidity is available.
  • Reward Funneling: Farming rewards can be directed to flow between multiple strategies, creating unprecedented layered loops or chains of strategies that perpetually accumulate yield.
  • LP Handling: Strategies can be configured to automatically create LP tokens from yield earnings or Zapped from user deposits. This also includes the ability to automatically stake these LP tokens into farms or strategies to earn yield.
  • ERC-1155: All user deposits are tokenized into voucher tokens following the ERC-1155 token standard. Vouchers are tokenized proofs-of-deposit that can be implemented into other protocols. This opens Crystl strategies on BitTorrent to a world of endless DeFi possibilities with cross-protocol integration & composability that isn’t offered by any competitor.
  • Optimization: Using a variety of intelligent smart contract tweaks, Crystl’s infrastructure is extremely optimized for gas efficiency and ease-of-deployment. Users enjoy optimal compounding frequency and maximum capital efficiency for all interest earned.

Ultra Farms greatly benefit existing projects in the BitTorrent ecosystem by encouraging & arming users with the ability to accumulate their favorite project tokens with full convenience. Unlike traditional yield aggregators which cause sell pressure for reward tokens, Ultra Farms provide a holistic alternative by auto-compounding rewards into a single staking strategy without selling them off. In doing so, we bring stability to the BitTorrent ecosystem by helping projects to support higher token prices and TVL.

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Really believe that we are bringing something special with CRYSTL Finance. We are able to help other projects where typical yield aggregators damage price, APRs, and TVL.

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We think we have a great community with strong partners, who fight pretty well even in tough bear conditions. We are following a very aggressive expansion policy to introduce and expand our V3 vaults to the DeFi ecosystem, which is very lucrative for collaborative projects and users, and I believe Tron is one of the partner networks that would be very good at making this happen. Future is CRYSTL clear and even brighter with TRON!

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Crystl Finance will bring the best vaulting strategy for users, projects and also ecosystem itself. Our Yiield maximize strategy don’t harm project health, but help growing it in sustainable way!

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Hi!

I’ve checked your site and saw there are pools with over 100-200% APY’s (e.g. on the Cronos chain, USDC-CRONA LP offers 449.57% APY, and CRYSTL-CRO 156,31% at the time of writing.)

As recently it turned out many DeFi projects (with millions of users) were unsustainable, I would like to ask how do you generate this amount of income and able to pay such high APY’s? Where the staking rewards come from and how is it sustainable without putting selling pressure on your token?

Thanks for the answer, and good luck with your project.

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These is awesome kudos Crystl finance

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Nice to see more projects that have made the choice of going multi-chain. Welcome on Tron and BTTC!

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Hello, thanks for the great question!

Crystl Finance does have it’s own token, $CRYSTL, but it isn’t emitted as it’s hard capped at 12.5 Million tokens. Our $CRYSTL token functions as our governance and revenue sharing token, and by providing $CRYSTL liquidity on Cronos or Polygon, you can earn part of Crystl’s monthly revenue paid in the native gas token. So in the case of the CRYSTL-CRO LP you mentioned above, users are rewarded in the Cronos native gas token, CRO at 156% APR. This allows us to incentivize our own liquidity and reward our holders without inflating our token and is one of the most sustainable and scalable models in the whole DeFi space as it allows us to have a deflationary token. Full info on $CRYSTL token: https://polycrystal.gitbook.io/polycrystal-finance/product-information/untitled.

For our Vaults, such as the USDC-CRONA listed, we put yield aggregation strategies on pools and farms that are emitting tokens and auto-compound rewards into more liquidity. This allows users and projects to maximize their liquidity positions hands free and the compound interest leads to higher rewards the longer they are staked. So to give a direct example, USDC-CRONA earns CRONA tokens from their yield farm and our Vault takes those CRONA rewards, converts them to additional USDC-CRONA LP tokens, and restakes them in the Vault multiple times per day. We provide the service and marketing for the product, but don’t have any emissions that lead to sell pressure on the $CRYSTL token.

Let me know if you have any other questions :slight_smile:

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Thank you, we are looking forward to what we can do to grow the BTTC Ecosystem :+1:

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Really interesting proposal, ive been looking for a yield aggregator on BitTorrent. Can you give examples of what all projects you can provide vaults for?

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Curious to hear how other yield aggs hurt TVL and APR, can you elaborate?

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Love to see it! Been a crystl farmer for a long time and would love to see it come over to BTTC :fire:

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Hello,

We’ve worked with primarily with yield farms and decentralized exchanges before our implementation of V3 Vaults, but now we are able to work with virtually any kind of DeFi project. We are working on new strategies for lending protocols as well as AAVE, Curve, and Balancer LPs which are present on many blockchains, but aren’t as straight foreword as others.

Since our V3 Vaults allow for innovative new strategies and combinations, with enough research we are confident our developers can create yield maximization strategies for almost any project currently in DeFi or to come in DeFi.

17 Likes
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Most yield aggregators are forks and only allow for rewarded tokens to be converted into the underlying LPs. While this boosts liquidity, it puts consistent sell pressure on the token which leads to reduced prices in rewarded tokens, which reduces APRs, and ultimately TVL.

To combat this and help grow projects and ecosystems we are a part of, we have developed our completely unique Ultra Farm strategy which allows for maximized earnings with no sell pressure. We are able to do this by automatically taking the earned token and placing it in an auto-compounding single staking pool which compounds earnings on the single token. We have launched these for ApeSwap on BNB Chain and helped reduce sell pressure on their BANANA token.

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Very nice details. Is crystl going to open yield-generating vaults for USDD or any other Tron/BTTC tokens?

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We would be required to have an underlying farm to create the yield-generating vaults which we are primarily targeting BTTC. Here are the current list of farms (I have found, let me know if you find others!)

WTH - KNC_e
KNC-b - USDT_b
ETH - WBTT
ETH - WBTC_e
WBTT - USDT_t
ETH - USDC_e
USDT_t - TRX
WBTT - TRX
USDC_t - USDC_e
USDC_t - USDT_t
USDT_t - USDT_e
USDT_b - USDT_t
USDC_t - USDC_b

Would love to hear any input on recommendations you have!

18 Likes
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How is this a submission for the hackathon though? You haven’t developed anything new on BTTC or Tron, just an idea of expanding your already developed project to BTTC? @admin.hackathon , no idea to have a hackathon if it’s just already developed projects “announcing” that they might move to the chain in question. Could just look at coingecko and there are 10000 projects that could do the exact same hoping to take home easy prize money.

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Hello,

Did you read through our full proposal? We aren’t just another project deploying on a new blockchain, we have spent the last 6 months creating, auditing, and testing new and novel code and there isn’t another project that does what Crystl can do in terms of yield aggregation. So not only would we be bringing an entirely new product to BTTC (both in terms of novel code and yield aggregation) our V3 Vaults actually help build and expand the ecosystem. And if you look at the hackathon guidelines, it’s for projects that “accelerate the development of Web 3.0 while promoting the growth of the blockchain ecosystem at the same time.”

Please let me know if you have any other questions and I recommend you look through our entire proposal to see our full details of how we will help the BTTC ecosystem :slight_smile:

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Nice to have you in the Hackathon. Good luck to you guys

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Thanks for the kind words YY!

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