Written by: VIKTOR DEFI

Compiled by: Xiaobai Navigation Coderworld

The allure of winning has always been a key factor in fans’ continued loyalty to sports events. The anticipation of those highlights creates and sustains the fanaticism of the game. This applies not only to sports, but also to premium securities.

A typical example is the UK premium securities, which currently have over 23 million people investing over £120 billion. Research shows that the success of UK premium securities is due to two reasons: first, investors do not worry about losing money; second, the excitement of winning.

Accordingly, in recent months, the ETH staking business has grown rapidly, attracting a large number of developers and users. However, the average annualized rate of return of LSD is only 4-5%, and the staking and reward distribution process lacks fun. This is why Asymetrix Protocol came on the scene.

“Our team invented a protocol that allows you to earn several times the annual interest rate through ETH staking, even if you have a small deposit. And a little bit of luck.” - Rostyslav Bortman, CTO of Asymetrix.

What is Asymetrix

Asymetrix is not your typical LSDfi project; it is an innovative staking protocol full of excitement and luck. It is a decentralized, non-custodial protocol that specifically powers asymmetric yield distribution. Built on Ethereum, Asymetrix allows users to earn high yields through ETH staking.

As mentioned earlier, the concept of Asymetrix was inspired by the success of premium securities in the UK. Asymetrix draws on the traditional successful model and provides new opportunities in the crypto space, encouraging users to stake ETH to win huge rewards. Within a few months of launch, the project quickly became the leading LSDfi protocol in TVL, clearly demonstrating its product-market fit and the effectiveness of the Bonding model.

Technology: How it works

You may be curious about how Asymetrix works. Take a real-world example. 200 users deposit one stETH in the Asymetrix protocol, totaling 200 stETH. Then, the pool generates a staking reward of 10 stETH. Asymetrix collects and randomly distributes 10 stETH to one user. The lucky one can get a staking reward of up to 500%, while the other 199 stakers get no income but can still keep their initial deposit.

Step 1: Deposit and Minting

Users first deposit stETH into the Asymetrix smartcontractThe protocol mints Pool Share Tokens (PST) at a 1:1 ratio with the user’s stETH deposit and sends them to theirwallet. Minted PST confirms the user's deposit, reflects their share in the pool, and needs to be withdrawn. As of the time of writing, the minimum deposit threshold for the Asymetrix Protocol is 0.1 stETH.

Step 2: Profit Distribution

Over time, Asymetrix accumulates rewards from staked stETH and distributes the proceeds to the winners. Every 604,800 seconds, approximately one week, a random draw is conducted. Afterwards, an algorithm will randomly select and reward the winner, with Chainlink VFR assisting in this process.

No one can influence the lottery results, even DAO Neither. Each user’s odds of winning are determined by a time-weighted average balance (TWAB) formula that calculates the user’s contribution to the pool and how long the user’s deposit has been held between draws. After that, Chainlink’s VRF generates a random number and matches it with the selection to determine the winner.

Step 3: Winner

After the draw is over, the winners will automatically receive a PST reward (equivalent to the amount of stETH won). This increases the user's balance and chances of winning prizes in future draws. Users can withdraw theirToken, have complete control over your funds.

To date, Asymetrix has distributed 87.95 stETH to 28 lucky stakers through weekly draws over 14 weeks. This gives stakers the opportunity to earn a so-called annualized rate of return in a single draw compared to traditional staking.

Tokenomics

ASX is the governance and utility token of Asymetrix. The total supply is 100 million tokens, of which 50% is allocated toCommunity，25%分配给投资者，25%分配给核心贡献者。团队预留了社区的 50%中的 10%用于激励早期协议用户。

Hacken, a well-known crypto auditing firm, has audited Asymetrix. In addition, they are running an ongoing bug bounty program to help secure the platform.Safety, while also rewarding bug bounty hunters.

Recently, the protocol announced the release of Asymetrix 2.0. V1 was already excellent, but V2 has more comprehensive improvements on the ASX token design. Three upcoming features of V2 are very eye-catching: esASX, BOOST, and Mini Pools.

As the name suggests, esASX means escrow ASX, and technically, it has the same value as the governance token - ASX. EsASX is a non-tradable token designed for long-term purpose and project sustainability. Users will need a 100-day vesting period to convert their esASX to ASX at a 1:1 ratio - as this will help alleviate selling pressure and curb early selling.

With the arrival of V2, esASX will become the default token for early user incentives and will be distributed in the next phase of incentive distribution. The tokens for the second phase of early incentive distribution are divided into two parts. 1,000,000 esASX/ASX will be distributed to all users who deposited in Asymetrix as before. The other part, 3,000,000 esASX/ASX, is specifically designed for users who received BOOST in the esASX/ASX distribution.

Asymetrix 的 V2 带来了两种新颖的提升机制：ODDS BOOST 和 esASX BOOST。每当用户在 Asymetrix 智能contract上提供并锁定流动性时，他们就会获得 ODDS BOOST，从而在每周的抽奖中获得更多中奖的机会。另一方面，esASX BOOST 是给予流动性提供者的额外奖励，以增强 esASX 代币的分配。

Mini pools can be thought of as support groups that enable small depositors to fully participate in the Asymetrix ecosystem. In fact, a mini pool is a collective of small deposit users who pool their funds to participate in weekly draws. In addition, the rewards earned are distributed to participants according to their share in the pool.

Summarize

In the early days of decentralized finance, people joined mainly to try out a new and increasingly popular Internet financial system. But now, they mainly join for better returns and the excitement of winning. Imagine getting a huge return of 500% and the excitement that this brings.

Even if you don't win, you'll get your initial deposit back and some esASX/ASX rewards. In the long run, this model will enjoy the same scale effects as UK premium bonds. With growth statistics and the upcoming V2 release, it's only a matter of time before Asymetrix leads the LSDfi narrative.

The article comes from the Internet:Introducing the new protocol Asymetrix: When LSDfi adds lottery gameplay, will more people participate?

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