0xAcid alpha trip guide vol.2
Our Bond system is starting the process of multi-chain deployment, beginning with the release of our Bond System on Ethereum.
"The only way to cross the river of life is by swimming, and the only way to cross the chain is by bonding.”
“Bonding is the process of creating meaningful connections that build trust and support throughout different races and chains.”
Project updates that you need to know:
The Whole New ACID 2.0
ETH 10k Club Launch
Cross-Chain Bonding Implementation
Now, back to the cross-chain bonding system. What is it and how will it benefit all of us?
TLDR:
1.Purchase bonds with ETH or other LSD assets on the ETH mainnet and claim ACID on Arbitrum.
2.User bases are expanded from L2 to L1 & L2.
3.There are opportunities to cooperate with more LSD protocols. ACID Bond provides users with future yields, allowing users to claim interest from LSD projects without having to wait.
Once the cross-chain bonding system is deployed, users can purchase Bond at a discounted price using ETH or LSD assets on Ethereum without the need for cross-chain transactions, and receive ACID on Artibrum in return via https://0xacid.com/app/. Due to cross-chain communication between L1 and L2, users will be able to check the vesting process via https://0xacid.com/app/vest after 15 mins. Users can directly claim ACID tokens on Arbitrum (L2) network after vesting is complete. Through cross-chain communication between Layer 1 and Layer 2, Ethereum (L1) users can easily purchase Bond and conduct transactions at ultra-high speeds (L2) with ultra-low gas costs (L2).
Bond is essentially a feature that accumulates assets for the treasury. Users can purchase ACID with assets such as ETH/wstETH at a discount, and the assets used to purchase Bond go directly into the treasury. We are now expanding this narrative. As a protocol focused on the LSD field, 0xACID adopts a cross-chain Bond system bridging the ETH staking yield from Ethereum to Arbitrum, enabling more L2 users to receive POS interests from ETH. It also allows more L1 users to enjoy higher returns (LSD returns) with lower costs and shorter transaction waiting time (L2).
Our latest update addresses the rate cashing problem for LSD assets, with an example being ankrETH. By staking ETH on the Ankr website, users can earn an annual interest rate of approximately 3.44% from the native interest rate of the Ethereum system. However, this requires waiting for a year to fully receive the returns.
Now, users can use ankrETH to purchase ACID bonds and receive approximately 5% interest on top of the principal after a vesting period. This allows ankrETH users to receive the native return of 3.44% without having to wait for a year. Our solution provides a more efficient way to earn returns on LSD assets.
ACID Bond offers users the opportunity to receive future yields. Through this mechanism, users can swap future interests for near-term interests, allowing them to receive returns from the 0xACID protocol sooner. This is done by giving future interests to the ACID treasury in exchange for near-term interests. Additionally, users can continue to stake the ACID purchased from Bond to receive the returns of various LSD assets held by the treasury after the vesting period.
The cross-chain Bond system on Ethereum is just an initial attempt, and we are committed to collaborating with more ETH staking protocols in the future. We will explore ways to allocate interest rates through DAO voting to help the Treasury accumulate LSD assets.
"The man who moves a mountain begins by carrying away small bonds."