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What is Larix The First Metaverse based Finance Protocol on Solana [Solana Series]

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Michael  0:00  

Welcome to the New to Crypto Podcast designed to guide you through the crypto landscape with pinpoint accuracy created for the new and intermediate crypto investor. Join your host Crypto Travels Michael as he takes you through the different facets of getting started and succeeding in your crypto journey. New to crypto podcast brings you new episodes daily Monday through Friday with surprise bonus episodes sometimes on the weekend. Let me ask you, are you new to crypto and don’t know where to start? Are you more experienced but have questions? Then you’re in the right place. This podcast is designed for you coming at you from the Trading Center and the Lifestyle Dezign Studio. Here’s your host Crypto Travels Michael.

 

Hey, welcome to today’s podcast. Hey, I wanted to give you just an update. Check out the how to guides that we recently released on our website newtocrypto.io Now we have step by step how to guides and they’re available in there for some of the most popular crypto wallets and my team and I are adding more soon, so be sure to check those out. Without further ado, we’re gonna jump into today’s episode. What is Larix the first Metaverse based finance protocol on Solana and this is another one in the Solana series that I’m doing. So what is Larix? Larix is a lending protocol built on the Solana of blockchain. The platform adopted a dynamic interest rate model and aims to create more capital efficient risk management pools. And there’s a broad selection of collateral types, crypto tokens, stablecoins, synthetic assets, NFTs and other kinds of assets that can be fully utilized in a safe way. Larix is security minded it’s a major priority for them. It’s the only lending protocol that gets reviewed by a reputable smart contract auditor, and this was done in August of 2021. Okay, let’s break down some of the benefits and features. Let’s break down the dynamic interest rate Larix adopts a dynamic interest rate model to manage liquidity and avoid bank run when depositors need to withdraw from the pool. 

 

Liquidity pools across different tokens are an essential part of Larix. They carefully designed interest rate model is created to incentivize both borrowers and lenders by rewarding them with Larix tokens. And let’s break down the asset risk: to mitigate asset risk, Larix does not accept crypto tokens with a market capitalization of under 10 billion lenders and suppliers of assets generate and earn an annual percentage yield as liquidity pool generates interest bearing opportunities to assets. In addition, lenders and suppliers qualify to earn the protocol token LARIX that’s the ticker symbols L-A-R-I-X through what they refer to as mining. This process can be attributed to a portion of token distributions that rewards protocol users for their activity on the platform. Once assets are supplied, users can choose to allocate as collateral which can then be used to borrow against. So currently, the total value locked with DeFi products has reached an astounding level, and it continues to grow throughout the entire industry. In the DeFi section. At Larix, they focus on the risk assessment uniquely attributed to supporting crypto tokens. Larix aims to standardize higher risk management practices within the DeFi ecosystem and takes into consideration the overall market, smart contracts and counterparty risks. 

 

So let’s break down the low fees and high speeds. The fees of trading Larix are much lower than other platforms, and this is due to the usage of it on the Solana blockchain. Solana is a scalable, affordable, decentralized network that allows quick transactions and healthy cryptocurrency market growth. Definitely check out my episode that I did on Solana if you have not so you can learn all about Solana. Let’s go over the governance. It has a DAO will be introduced to Larix through voting and governance tokens. Critical matters such as changing mortgage factors, adding or removal of collateral tokens and other things can be decided through this DAO, and they do proposal voting. Let’s break down the cautiously selected collaterals: in response to multiple flash loan attacks and malicious market manipulations, the collaterals will be selected cautiously and parked in several isolated pools (in clusters that is) according to underlying asset risk profiles. This is a more optimal way to control platform risk and protect both borrowers and lenders. I also want to break down the dual mining integration with Raydium. Larix has announced that it will be mining on the Raydium blockchain in addition to lending. Larix dual mining was released on October 8th 2021. 

 

And Larix has been released on mercurial, allowing users to trade Larix on the platform and paving the way for potential collaboration between the two groups in the future. Also, I want to break down the mSOL integration the company recently partnered with mSOL so that’s a lowercase m and then SOL. And they did this partnership with marinade which means Larix supports the deposits and lending of mSOL, as well as offering Larix rewards for those transactions. Currently, Larix rewards for mining mSOL are offered as collateral assets regarding who founded the project and the team members, not too much is known and is available about the team. The only team member known publicly is the CMO known as Dimmi, or Dimz. Let me break down the LARIX token for you: LARIX is the token on the platform and has a maximum supply of 10 billion tokens, and they’re allocated to mining and platform users foundation and treasury functions for the team and investors. The platform token is added to give users an extra value added utility that will be used mainly for DAO governance. 

 

In an interview with the CMO Dimmi revealed that depending on the total circulating supply growth, they could consider buying back supply that is from the open market. And the motivation behind a buyback would stem from the ecosystem expansion within Solana which is actually growing really fast. So as for a burning mechanism, Dimmi said that they possibly will start to consider this at later stages of the project. So users can generate LARIX tokens in the platform via the mining function, or they can buy the token on exchanges. I hope that today’s episode has provided a better picture for you as to what his Larix, definitely like and subscribe to the podcast and head over to the website and check out the How to Guides. If you would like to reach out to me, you can email me at show@newtocrypto.io. And this is a shout out to Anna, one of our loyal listeners who recently contacted us and gave us some feedback as to what type of episodes that she would like to hear. So thank you, Anna for that and a shout out to you. And tune in here tomorrow for a very special episode. Until then, make it a great day.

 

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By: cryptotravelsmichael
0

Table of Contents

Welcome back to another podcast episode! Today’s discussion will be about another project on Solana, known as Larix. 

What Is Larix? 

Larix is Solana’s ultimate lending gateway, with a dynamic interest rate model and more capital-efficient risk management pools, allowing a wide range of collateral types, crypto tokens, stablecoins, synthetic assets, NFTs, and other assets to be fully exploited in a secure manner. 

Larix is also widely regarded as the safest platform for users.

The incentive mechanism is built on a carefully constructed token economy that allows for constant incentive allocation to increase genuine demand. The ecosystem will accept a wide range of collateral types due to the enhanced “Compound” and “MakerDAO” components. 

The deposit and lending model, which rewarded surplus capital with interest, gave birth to traditional banking.

Any Defi ecosystem would be incomplete without the loan mechanism. Defi lending platforms provide loans to borrowers directly, without the use of intermediaries, and frequently allow both parties to earn stablecoins or cryptocurrencies. 

Successful decentralized applications (DApps) have the fastest rate of TVL growth in the lending industry and are the most common contributors to crypto asset locking via smart contracts.

Larix is the first lending protocol on Solana that attempts to bridge new sorts of tokens such as synthetic assets and NFTs while still maintaining basic SPL lending needs. 

As a result, lending/borrowing is an infrastructure for committed token holders who have high confidence in the token’s worth and want to earn APYs in addition to value growth over time.

Benefits Of Larix On Solana 

Trading fees in Larix Crypto are significantly lower than those in Ethereum, Bitcoin, BSC, and other cryptocurrencies.

It’s a decentralized network that’s scalable, inexpensive, and enables speedy transactions and healthy bitcoin market growth. Solana is capable of processing 50,000 transactions per second.

It’s the gold standard for safe transactions and effective capital allocation.

Other features include DAO management, a multi-collateral approach, and an audited smart contract. 

LARIX Token

LARIX is the DAO and long-term investment token economy.

Larix has a total quantity of 10,000,000,000 (10 billion) tokens, which are distributed among users of the mining platform, the foundation and treasure function, the team, and investors.

Mining & Pool Reserve is a portion of the reserve that allows users to mine and take advantage of the liquidity pool.

Treasury & Eco-Build makes eco-system development, incubation investment, and collaboration easier.

Marketing & Operations includes operational events, marketing efforts, and participation in the Initial Lending Offering (ILO), among other things.

After the 12-month cliff period, Investors & Team are entitled to receive 1/36 of the total issued tokens on the first day of each month.

Larix aims to standardize higher risk management practices within the DeFi ecosystem and takes into consideration the overall market, smart contracts and counterparty risks. 

- Crypto Travels Michael

Here's What We Discussed in Detail in This Interview

  • What is Larix
  • Benefits and Features
  • mSOL integration
  • Founders and Team
  • LARIX Token
  • Governance

Killer Resources

HOW TO REACH TO CRYPTO TRAVELS MICHAEL

Final Thoughts

LARIX has a fantastic ecosystem, which demonstrates how quickly the platform is evolving. Digital assets such as LARIX will have enough room as the sector expands. In the future, the company hopes to include NFT lease/lending, margin loans, and other features into its model.

LARIX is poised to soar to new heights, thanks to a slew of current advancements and collaborations within the Larix ecosystem.

The New to Crypto Podcast is designed to guide you through the crypto landscape with pinpoint accuracy. New episodes are added daily. Be sure to subscribe to the podcast and listen to all of the episodes to help you in your cryptocurrency journey.

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