New Project Preview | Artichoke Provides a Unidirectional Liquidity Layer DeFi Protocol

New Artichoke Project Preview: Unidirectional Liquidity Layer DeFi Protocol

Artichoke is a liquidity provision protocol based on Arbitrum. Its unique feature is that it provides a one-way liquidity layer on top of any DEX to address current efficiency issues with AMMs and LPs, including impermanent loss. Cryptocurrency KOL franceso introduces this project from the perspectives of its mechanism, token, etc.

Artichoke only needs to establish a single-sided LP protocol to collateralize assets without relying on stablecoin liquidity. Users will be able to collateralize their assets without providing stablecoins, greatly simplifying the process of providing liquidity to users and finding liquidity for the protocol. Artichoke uses a long volatility strategy with a multi-legged options approach, so the LP position is delta-neutral. This means that it is insensitive to price changes and volatility due to the bilateral hedging.

The CHOKE token represents a share of the revenue towards Artichoke. Holders can earn profits by collateralizing and providing liquidity to the system, and also have governance rights over protocol decisions. tCHOKE is the foundation of the protocol, as it acts as the tail-end synthetic liquidity trading counterparty. It is a synthetic liquidity token primarily supported by USDC, representing assets deposited in the Artichoke protocol.

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All LP positions have swap interest that can be claimed at any time or when closing. Artichoke distributes fees between LP and the protocol on a 50/50 basis. The protocol’s share of the fees is allocated to CHOKE stakers and used for tCHOKE buyback and burn.

Reference: https://twitter.com/francescoweb3/status/1670733184957546497

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