Arken Finance is the Abstraction Layer that abstracts the complexity of DeFi and multi-chain. More chains with even more diverse technology lead to even more complex software development and user experience. Arken built the Abstraction Layers that live between and across L1, L2, and protocols layers. The Technology Abstraction Layer helps abstract the protocols/chains incompatibility while the User Experience Abstraction Layer helps unified the user experience across multiple chains/dApps and combined them into even more powerful Trading Tools.
What makes your project unique?
A lot! Most projects are focusing on either infrastructure or protocol layers. What Arken focus on is simplifying developer experience and user experience. For developers, picking the protocols that meltdown could mean the failure of the projects. With Arken, developers will always connect with the winner. Since we are a very user-centric team, this technology abstraction also helps us develop and experiment with several applications fast. For users, we have developed a Trading Portal that is as powerful as CEX, with DeFi technology.
History of your project.
Arken began in mid-2021. Back then, DeFi protocols are raw and complex. Everyone might have experience spending hours teaching people how to use DeFi. Swapping, seeing price charts, or finding a valid smart contract address are all complicated. The more we learned about the adoption obstructions of DeFi users, the more we realized that making DeFi accessible is going to need a lot of applications. To realize this vision, we invested our time develop the technology layer that abstracts the complexity of software development away so we can develop new applications fast. Then, we developed the first application to solve our itch, Arken Trading Portal, which incorporated thousands of protocols and millions of liquidity pools and abstracted the incompatible user experience into a powerful trading UI that millions of people around the world have used. Some even thought that we are CEX! That's a milestone that we truly appreciate.
What’s next for your project?
The mission is the same, making DeFi accessible. This is going to be a long journey, but we have broken it down into several simple steps. Right now, we are between the first 2 steps:
1) Create technology layers that abstract the complexity of decentralized protocols and networks to boost software development speed. So everyone can develop new dApps/protocols and experiment with new ideas quickly. Currently, we have opened up several of our API and infrastructure for dApps developers. More to come to make the development process fast, reliable, and future-proof.
2) Use the technology from step 1 to develop better applications that abstract the complexity of DeFi user experience. Help bring in more users to DeFi. DeFi Trading Portal is just the first application aimed toward migrating CEX users. The next one, which we already launch in private, is infrastructure & applications for fund managers. Many more to come to help bring in different segments of users.
3) The third step will be about liquidity abstraction. We are developing and collecting pieces of this puzzle. Please follow us on twitter or join our discord/telegram to get notified of our progress.
What can your token be used for?
Well, we have spent a lot of time thinking of this question: why do we need to create a new token? And it started to become clear the more we expand our abstraction layers. Arken Token will be used to abstract the utility payment, anchor the value, and stabilize liquidity in our ecosystem.
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