• Founded 2 years ago in 2021.
• Use anonymously. No KYC required.
• Decentralised exchange.
Arrakis Finance formerly known as G-UNI is a decentralized liquidity management protocol that is built on top of Uniswap (UNI) in February 2021. Arrakis is a community-owned and governed protocol that runs on the Ethereum Network and its layer-2 solutions; Optimism, Polygon, and Arbitrum networks.
The good thing about the Arrakis is that it is an open-source and non-custodial protocol. It is completely permissionless so anyone with a web wallet can connect to the protocol and use it without sharing control over the funds. Individuals can also create a vault and perform as a vault manager. You can think of a vault as an investment fund.
There are preset yield generator vaults on the platform. When you invest in a vault, make sure you trust the vault’s manager and his abilities. You can sort preset vaults by coin, network, and TVL and then select the proper one for your investment strategy. There are big and small vaults on the protocol. Big decentralized yield platforms such as MakerDAO, Aave, Synthetix, and Olympus Pro also use Arrakis’ vaults to generate yields.
SPICE tokens are used to support incentive mechanisms on the protocol. All commissions and fees are paid in SPICE tokens to the protocol and then the revenue is shared with LP providers. Users can earn xSPICE governance tokens by staking their SPICE tokens. We couldn’t find an official explanation of SPICE token distribution. There is a lack of transparency with tokenomics.
The protocol has a web app and it is still in the Beta version. There are some glitches on the website for now and some buttons are dysfunctional at the time of writing. (November -2022). But the community is very active on social media and quickly responds to the messages on their profiles. There has been no hack or exploit in the Arrakis’ history so far but it is still relatively new in the crypto finance market.
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