Atrix Protocol is an Automated Market Maker and decentralized exchange platform developed on the Solana blockchain with the purpose of making the creation of liquidity pools and farms easy for the tokens that are used on this blockchain network. By leveraging the Serum Infrastructure built by Project Serum, people now create token pools in a permissionless manner.
What is Serum?
Serum is a protocol built on Solana which helps in the provision of speed and low transaction costs to decentralized finance. Serum, being a completely permissionless protocol, can be used by any DeFi application through its on-chain central limit order book to effect liquidity sharing, aggregation etc.
Atrix Protocol Features
As an automatic market maker (AMM) built on Solana (with Serum as the underlying infrastructure in the provision of a robust order book), Atrix provides projects built on Solana the ability to easily provide liquidity pools and liquidity mining farms to their users.
Atrix Protocol also prides itself in its ability for users to make their pools customizable and easy to deploy when needed. This alone makes Atrix stand out over some of the other AMMs on Solana.
By using Atrix, users and traders of a token can easily receive the incentives made available to those who trade or add liquidity to the tokens’ pool that has been created by them. An example of the incentives receivable is the Atrix LP token (ALP). These tokens are given to users who have deposited tokens into a pool. They can use the ALP tokens received to reinvest in the Atrix Farms and pools or to perform other DeFi strategies in other decentralized applications.
In addition to providing an easy solution to create liquidity pools and incentives for projects, you can also perform swaps directly on the platform. The availability of the Swap feature that enables you to exchange SPL tokens easily without leaving the application.
To swap, connect your Solana wallet of choice to the Atrix App and search through the tokens available. You won’t find as many swaps available as you would with an aggregator such as Jupiter, but there are still a lot of pairs to choose from.
In the image below, I performed a swap with the USDC tokens in my wallet address for some SOL tokens
This is the section that contains the various liquidity pools that are found on Atrix. With over $220 million in the total liquidity locked, Atrix is one of the top DeFi protocols on Solana.
The vault is absolutely loaded with different pools and these pools use any kind of DeFi strategy that can generate better yield for those who have deposited in the pool.
By selecting the SOL/USDC pool, it means I would be going with the Constant Product Strategy. With over $120m worth of tokens deposited, the SOL/USDC pool has one of the highest total liquidity. After scrolling down, you can make your own deposit into the pool by entering the amount of SOL and the USDC that is equivalent in worth to the SOL. (for example, if I deposit $44 worth of SOL, it would be a total deposit of 1 SOL and $44).
Staking on Atrix allows you to deposit crypto pairs to earn yield on your deposits. Some of these yields are packaged as emissions in the form of another token. For example, the first featured Staking strategy is the SOL/USDC + SRM. (the plus ‘+’ represents the token to earn from staking).
Scroll down after selecting your strategy and add liquidity in the “Deposit” section.
Beneath the vault section, you can see the stats on the Assets, Strategies used, Total Liquidity available and the worth of your own tokens in the pool.
After having received the ALP tokens, you can just go right ahead to Stake it so that you can earn Serum tokens (SRM).
After staking it, you can unstake at any time you want to by clicking on “Withdraw” button. No restrictions will stop you from unstaking at any point in time. Within the few minutes that I staked my ALP tokens, I have earned some of the daily allocations of SRM that should accrue in my wallet.
By selecting “Withdraw”, all your ALP tokens are converted back to your tokens (those are SOL/USDC ratio) with which you used earlier as deposits in the Vaults.
Atrix Finance is one of the most used protocols on Solana, and for good reason. The user interface is simple, the yield opportunities are plentiful, and most importantly, the returns are higher than most DeFi protocols on Solana.
In the coming weeks/months, Atrix will be launching its own Initial DEX Offering platform. We are absolutely thrilled to jump in and see what it has to offer. We will update this post when the IDO is live and we have had the chance to give it a thorough review.