Autonomy Network Deployment: AutoFarm
Omni and Autonomy collaborate to transform DeFi, simplifying cross-rollup automation and solving liquidity issues. With the AutoFarm DApp on Omni Testnet, yield farming becomes seamless across chains. A promising step towards mainstream DeFi adoption.
The DeFi landscape is about to reach a new level of scalability and usability with the deployment of the Autonomy Network onto Omni. With groundbreaking advancements from Omni and Autonomy, we are on the brink of solving some of the most pressing challenges in the DeFi space.
Tackling DeFi's Liquidity and Usability Challenges
Decentralized Finance (DeFi) has gained immense popularity but is still plagued with inefficiencies. The complexities of managing collateral across various rollups, liquidity fragmentation, and sub-par user experience have prevented DeFi from reaching mainstream adoption.
However, the collaboration between Omni Network and Autonomy is positioned to change all of this, bringing unprecedented simplicity and efficiency to DeFi.
The Omni Network Solution: Simplifying Cross-Chain Automation
Omni Network is making strides in rollup infrastructure and enhancing the developer experience. Omni Network enables developers to deploy once and interact with any rollup by developing a secure and robust multi-rollup development layer. This removes the complexities that developers face, allowing them to focus on creating efficient and user-friendly applications.
Alongside Omni Network, Autonomy is a game-changer in DeFi automation. It allows web3 developers to automate actions across different rollups through the Omni Network. This synergistic combination solves liquidity fragmentation problems and cumbersome management processes.
Let’s take Alice, for example, who has a lending position on Optimism and a perpetual future position on Arbitrum. Managing her collateral across these positions today is difficult and capital inefficient. Omni Network and Autonomy, when combined, allow Alice to create a single cross-rollup margin account that automatically manages collateral across these positions.
Revolutionizing DeFi with Omni and Autonomy
By merging the core primitive of software automation with the necessity to operate across a fragmented crypto space, Omni and Autonomy are paving the way for an entirely new layer of DeFi. This empowers users with simpler experiences, greater capital efficiency, and enhanced safety.
Users have been bridging funds and manually moving capital for years, this has deterred many users from accessing new opportunities due to the complexity. Combining Autonomy with Omni unlocks a new class of applications for developers. They can build revolutionary applications such as:
Global Margin Accounts: Put your capital to work efficiently across the entire crypto space without the hassle of bridging complexities.
Global Yield Optimizers: Automatically capture the highest yield available across all crypto platforms.
Global Liquidation Prevention: Ensure your funds are safe from liquidation by automating protective measures no matter how many rollups your money is on.
A Closer Look at the AutoFarm - The First DApp launched on the Omni Network Testnet
One of the first showcases of this innovative technology is the AutoFarm app deployed on the Omni Testnet. It redefines yield farming by allowing users to automatically move capital to the highest-yielding pool across any chain. This is made possible through Autonomy’s functionality, which optimizes the users' APY (Annual Percentage Yield).
Here’s how you can try it out:
Step 1: Accessing the Testnet
The testnet is available exclusively to community members participating in our Priority Access Program. If you have not participated yet, go to our Omni Galxe Space and after you mint any 1 OAT amongst the available ones, you will be eligible to claim funds from the faucet.
Step 2: Getting Free Testnet Funds
You can access the Omni Origins Testnet Faucet here. Just add the address which holds the OAT and you’ll receive the funds.
Step 3: Trying AutoFarm
Go to AutoFarm App, connect your wallet, stake the testnet $OMNI tokens you received from the faucet, and you are done!
In Conclusion: A New Era of DeFi
Omni and Autonomy’s collaboration is a crucial step towards a new era of DeFi. The AutoFarm app alone garnered over 40,000 users in the first week of launching. Combining the technologies of Omni and Autonomy opens the door to new types of applications and invites mainstream users by substantially improving user experience and reducing risks.
As Omni and Autonomy continue to innovate, we can expect new apps, functionalities, and an accelerated expansion of DeFi into the global financial system.
Ready to be part of this revolution? Join the Omni community and try the AutoFarm app today. Stay tuned for more groundbreaking developments from Omni and Autonomy!
About Omni
The Omni Network is a layer 1 blockchain built to connect all rollups. Using Omni, developers can build global applications that are available across all rollups. Secured through restaking $ETH, Omni is next-generation blockchain leading the frontier in both security and functionality.
Omni is backed by $18M from prominent investors such as Pantera Capital, Two Sigma Ventures and Jump Crypto.