Single Finance: The Few Firsts Shaking the DeFi Landscape

Place/Date: - January 17th, 2022 at 8:50 pm UTC · 5 min read
Source: Single Finance

Single Finance: The Few Firsts Shaking the DeFi Landscape

Backed by all-star investors such as Double Peak, 0xVentures, Enzac Research, Genblock Capital, and the like, Single Finance, the world’s first capital-protected DeFi 2.0 leveraged yield farming platform, is set to launch its highly anticipated IDO on Cronos launchpad VVS Finance on 19 JAN.

Single Finance shakes the whole DeFi landscape by achieving a few firsts:

  •  the first leveraged yield farming platform on Cronos;
  •  the first leveraged yield farming platform to offer capital protection;
  •  the first liquidity pool performance database; and
  •  the first IDO on the largest DEX on Cronos, VVS Finance.

Single Finance’s IDO is one of its kind: Cronos is the EVM chain running in parallel to the Chain, with access to the 10M+ user base of the ecosystem; VVS Finance is the first and largest DeFi on the Cronos Chain with a rapidly growing TVL of more than $1.3 billion, and Single Finance is the very first IDO on VVS Finance.

The Single Finance team explained to Defi enthusiasts during a recent AMA event:

“Our project began with a bad experience with existing leveraged yield farming facilities. We had a leveraged position and suffered a flash attack. Asset price dropped 80% in just a few minutes, and we got liquidated and lost 105% of our capital. We thought we could have at least gotten half of our capital back since we monitored the position very closely. But nothing we could do as the platform policy did not allow us to adjust the position.”

Motivated by this brutal experience, the founders started to envision a new platform with high APY plus maximum drawdown. Most importantly, it would be a platform where farmers wouldn’t have to monitor the market and do all the complex yet time-sensitive stop-loss procedures manually. At the end, the vision grew and flourished to become the Single Finance platform, providing different Single-Click Strategies of leveraged yield farming to achieve targeted return and manage risk exposure.

Single Finance incorporates the following three features to help tackle the problem commonly faced by both novel and veteran crypto liquidity farmers.

Single Click Pseudo Market-Neutral Strategy

Single Finance is bringing a human-centric, ultra user-friendly experience and capital protection to DeFi, helping everyone earn more money with ease of mind. The primary goals of both new and experienced farmers are simple: to earn high yields without suffering too much impermanent loss or being liquidated in a flash. Single Finance users can simply supply assets and enjoy our pseudo-market-neutral liquidity mining strategy with just a single click.

Marked-to-USD Capital Protection Bot

The best thing about Single Finance is that everything is marked to USD. Not only is APY worked out in USD, but our capital protection mechanism is also based on your initial investment principal valued in USD. Therefore, Single Finance strategy users won’t lose more than 15% of their capital in USD, as their capital is protected by a stop-loss bot and a rebalancing bot. Just pick your favorite liquidity pairs and leverage exposure on Single Finance, and our bots will handle the rest to keep your capital safe and your sleep tight.

Liquidity Pool Time Machine

This groundbreaking feature provides real return performance data, including trading fees, DEX yields and price impact, to help users pick their winning pairs. Time Machine also allows users to compare the performance between farming a liquidity pair versus farming the non-stablecoin asset of the same liquidity pair.

When asked about the intricacies of the above features, the Chief Farming Officer of Single Finance was more than thrilled to share with the audience some of the key mechanisms of their technologies.

Kenny Denton, the company’s CFO, aka Chief Farming Officer, said:

“Single-Click Strategy, as the name suggests, is a useful strategy that can be implemented with a single click on the mouse. We aim to provide various useful Single-Click Strategies, the first Single-Click strategy being the Pseudo Market-Neutral Strategy: it aims to achieve the highest possible return while minimizing impermanent loss by borrowing a certain amount of non-stable coin assets. When using Pseudo Market-Neutral Strategy, you can only use it with liquidity pairs made up of one borrowable stablecoin and another borrowable asset. In execution, our strategy vault borrows an amount equal to the quantity of non-stablecoin assets in the liquidity pool. Therefore, our strategy will begin with a delta-neutral position. Under this strategy, users can increase return by increasing leverage, or simply choose the leverage exposure they are comfortable with, and all positions will be rebalanced automatically with one single click, beginning with a delta-neutral position.”

Key Dates

Public Sale Begins:

  • VVS: 2000hrs on 19th JAN 2022 (UTC+8)
  • MEXC: 1800hrs on 20th JAN 2022 (UTC+8)
  • 1800hrs on 20th JAN 2022 (UTC+8)

About Single Finance

Single Finance is a yield farming platform that boasts the world’s first marked-to-USD, pseudo-market neutral strategies to protect investor capital, equipped with Time Machine, an analytic service tracking the true, i.e., USD-based, historical performances of an ever-growing number of chains and liquidity pairs, empowering investors to weigh and craft their winning strategies.