Angle Crypto Platform

Pros

$18,017,888 USD currently invested (TVL)

Investments in 2 coin pairs available

Supports protocols including Ethereum and Polygon

Cons

Investments in liquidity pools can be higher risk

Liquidity pool investments are only suitable for advanced crypto users

Angle Reviews

Angle is a decentralized over-collateralized stablecoin protocol that was launched in November 2021. The protocol is founded by Angel Labs which is a Silicon Valley based investment firm. Angle Protocol raised $5 million in seed funding from eight investors including Andreessen Horowitz as the lead investor. The protocol’s core module is deployed on the Ethereum network and the protocol allows cross-chain operations with bridges on various blockchain networks including, Polygon, Optimism, Arbitrum, Avalanche, and BSC smart chain. The protocol is open-source and source code can be found on the GitHub page. There are another pages of documents for developers only to help developers to understand how the underlying codes work and explain the technology behind the protocol.

There are agEUR and agGOLD stablecoins on the platform so far. agEur is pegged to Euro and agGOLD is pegged to one ounce of Gold. Even though the platform is mainly focused on stablecoin products, perpetual trading, earn products, and leverage tools are also provided for users. Users can borrow the platform’s local stablecoin agTokens against their collaterals. The protocol is governed by the Angle DAO and the platform’s utility token ANGLE is used as a governance token.
 
The platform has a web app only and anyone can connect to and start using the protocol with a web wallet including popular choices; MetaMask, OKX Wallet, Phantom, and WalletConnect. Most tools on the protocol are available for anyone without KYC or background check except paying and getting paid in agEUR by using a bank. the rest of the tools can be used without any limitations.
 
The web app is fast and responsive but the user interface is not the best for a beginner. Users should select the network from their wallets before connecting to the platform and then choose the tools they want to use in the tools bar on the left side of the screen. You will see agEUR, Trade, Earn, and ANGLE tabs on the left. Users can swap, borrow, and bridge agEUR tokens on the agEUR tab. Users can buy agEUR tokens with a credit card or a bank account too. The second tab ‹trade› allows users to use leverage with their forex trades. Traders can open positions on the price of Euro currency and use leverage to magnify their return. Leverage can be used with borrowings too. The earn tab is for staking products where users can lock their coins to earn yield.
 
The protocol is a new player and its age is less than two years old. Decentralized crypto protocols are promising for the future but the technology is still in the development phase and can face technical accidents or suffer actions of people with bad intentions. Sometimes protocols may get losses because of the other protocols they are connected to. the Angle invested some of its funds in the Euler Finance protocol and lost approximately $17 million worth of USDC tokens when the Euler finance was exploited in a flash loan attack. There are several audit reports provided on the platform’s official documents pages. Unfortunately, decentralized finance is very complex and protocols rely and depend on each other for some services. One platform can be very secure but one of its partners may lead to some losses.

How Much Can You Earn on Angle?

Angle Supported Currencies

Angle supports over 2 currencies including USD Coin and Uniswap.

Angle Key Data

Company

Legal name	Angel Labs
Year founded	2021
Decentralised	Yes
Open source	Yes

Products

Savings accounts	Yes
Crypto to crypto exchange	Yes
Fiat to crypto exchange	Yes
Crypto withdrawals to private wallet	Yes
Futures exchange	No

Security

Know your customer	No
Credit check	No

Investment Strategy

DeFi products

Yes

Useful Links

Angle Contact Details