Vision & Roadmap
We will make a true cross-chain DeFi ecosystem. There are many coins that mirror Bitcoin like WBTC, renBTC, BTCB, .... and there are also many USD based stablecoins including BUSD, USDT, USDC, DAI, UST and more. The problem with this is that it is confusing to swap and store these in vaults. While the value of the coins themselves may be stable, generating high yield while keeping this safety is not the easiest process.
Belt.fi makes pools of these tokens of the same nature (i.e. BUSD and USDT) and make it possible to swap these with very low fees and low slippage. This gives DeFi users the opportunity to keep the safe nature of their stablecoins while getting high rewards.
We at Belt.fi envision a future of immense interoperability in which you can maximize returns conveniently by adding liquidity to any pool of assets of any connected chain.
The team behind Belt.fi has been researching and developing interchain technology since incorporating in 2017 and creating Orbit Chain and related interchain-protocols. We launched Orbit Chain and it's Orbit Bridge IBC protocol, which bridges assets on N-to-N routes. We will continue making IBC (inter-blockchain communication) innovations with Orbit Chain to create a true cross-chain DeFi ecosystem. Belt.fi wil be the core protocol of this ecosystem.
We are upgrading our beltTokens for better multi-strategy yield. This will include updates for auto-leverage for the lending protocols we use on lending protocols for our strategy protocols. This update will also add auto-ratio changing so that the ratio between different strategy protocols will automatically shift to efficiently create the highest yield possible. On top of this, we will be adding additional strategy protocols for a higher multi-strategy base yield for our beltToken vaults.
As we have stated before, Belt’s cross-chain launch on HECO was part of a bigger plan for Belt Finance to become a true cross-chain protocol in which users can freely choose which chain they wish to farm on, and receive yield from the respective chain. Now with HECO launch successfully behind us, we are excited about what’s to come next in terms of cross-chain interoperability for Belt Finance.
In addition to giving the top yield on major assets and stablecoins through our multi-strategy yielding vaults, we will be adding cross-chain stablecoin swaps with a cross-chain AMM feature. Coupled with the aforementioned auto-ratio rebalancing and auto-leverage updates and additional strategies to be made to our multi-strategy vaults, we expect these new systems to be a powerful addition to Belt, creating even more value for our users.
We expect that these updates, while sounding complicated, will make DeFi easier for our users - especially if they wish to experience it on multiple chains. We expect that it will also solidify Belt Finance as the place to bridge assets cross-chain while increasing liquidity on the different chains we support.
This Belt Finance cross-chain stable swap will be facilitated through a new cross-chain pool on Belt Finance. The new cross-chain stable pool will consist of BUSD (on BSC), HUSD (on HECO Chain), USDC (on Polygon), and KUSDT (on Klaytn). Users will be able to swap these stables on these different chains.
For example, Klaytn chain DeFi users will be able to easily move their assets to BSC by swapping KUSDT on Klaytn to BUSD on BSC, and vice-versa. This saves users the time and effort needed to take assets to different chains through centralized processes and the many verification steps and high fees associated with using Centralized Exchanges.
The actual bridging process will go through Orbit Bridge, a decentralized IBC bridging protocol. We are using Orbit Bridge as it does more than simple asset transfers by allowing data transfer and cross-chain transaction execution. Orbit Bridge is a trusted name in the world of bridging solutions, having bridged over $5B in assets cross chain. Orbit Bridge was the technology that made Autofarm’s pAUTO (on Polygon) and our hBELT (HECO Chain)/ kBELT (Klaytn) possible, among many other tokens they have provided solutions for. Belt Finance is currently utilizing Orbit Bridge for the cross-chain mining of hBELT on HECO Chain.
Q3 will also mark further cross-chain expansion: Belt Finance on Polygon and Belt Finance on Klaytn.
Polygon Belt
Polygon is one of the fastest growing blockchain networks that provides a powerful environment for fostering Decentralized Finance protocols, with low gas fees and rapid block generation time. Many established DeFi protocols have made their presence on the Polygon platform, including Curve, Aave, and SushiSwap. Polygon is a great place for Belt Finance to be, as our services will provide a necessary, but previously non-existent service to the Polygon ecosystem.
Belt-affiliated Orbit Bridge assets are already seeing use on Polygon. Belt Finance’s official launch on Polygon with our cross-chain stableswap will provide ease of use for DeFi users to use and experience the ecosystem.
The Belt Finance team is already officially partners with the Polygon foundation. You can read the announcement here.
Klaytn Belt
Klaytn is one of the largest DeFi ecosystems to come out of Korea. The company behind Klaytn network is Kakao, a telecommunication company that created Kakaotalk, the most-used messenger service in Korea. Klaytn is widely regarded as a blockchain mainnet that has a solid future with active development in the sector of DeFi. Klaytn is home to KLAYswap, an AMM DEX that currently boasts a TVL of nearly $1B USD. It is one of the fastest growing DeFi ecosystems, in and outside of Asia.
BELT and BNB have been two popular supported assets for pools on KLAYswap, and official Belt Finance integration of Klaytn network will serve to accelerate Belt’s growth in the Klaytn ecosystem. Belt’s cross-chain stableswap will make it easier for users to utilize Klaytn ecosystem and experience the various high-yield DeFi pools it has on offer, and Belt Finance too can expect growth in terms of liquidity and swap volume.
Belt Finance’s expansion to Polygon and Klaytn, with Belt’s current support for BSC and HECO Chain, will mean that Belt Finance will soon be on most of the biggest DeFi ecosystems with the exception of Ethereum.
Q3 will also mark the start of Belt Finance’s Bug Bounty program, with a maximum bounty of $1,000,000. This initiative will help further secure the platform while giving our users a direct, immediate way to contribute to the stability of Belt Finance, and being rewarded for their efforts. The details of this bug bounty program will be announced shortly.
Lastly, we have not forgotten the holders of BELT tokens. All of the aforementioned plans for Q3 are connected with how we plan on utilizing BELT, and creating more utility for it. While we cannot divulge the full information on how BELT will be utilized in future design of Belt Finance, expect us to release a plan regarding BELT tokens in near future.
The Q3 updates are not all that is in the works. Q4 will see Belt continuously improving with a variety of updates planned. While Q3 will see Belt Finance focusing on creating cross-chain DeFi and expanding the scope of Belt Finance, Q4 will build upon Q3’s updates to refine cross-chain DeFi with more supported assets and new pools, while also adding governance to take a step closer to becoming the decentralized protocol initially envisioned.
Governance will launch in Q4. We are currently exploring various governance structures that our users and the platform can sustainably and continuously benefit the most from. More details regarding governance will be released later.
In Q4 we will also focus more on additional BELT token utility, adding more pools, and adding additional strategies for our multi-strategy yield vaults, in addition to considering more networks to expand our cross-chain capabilities to. Q4 will see Belt Finance fine-tuned to realize the maximum potential of its initial goal.
While all of these plans are in motion, safety will continue to remain as our top priority. We will continue to have more audits conducted and released.
These Q4 updates will make Belt Finance a complete protocol on multiple chains, with cross-chain swaps, multi-strategy yield optimization, various pools, and decentralized governance.
2021. 02. 22
Belt.fi contract deployment on BSC (Binance smart chain)
2021. 02. 26
Belt.fi website launch
2021. 03. 10
Initial public allocation distribution event begins via PancakeSwap IFO (https://pancakeswap.medium.com/belt-fi-belt-ifo-to-be-hosted-on-pancakeswap-353585117e32)
2021. 03. 10
Pool Liquidity Mining begins (https://bscscan.com/block/countdown/5559747 )
2021. 04. 21
New vaults, pools launching with multi-strategy yield (https://medium.com/belt-finance/belt-finance-v2-multi-strategy-yield-new-pool-vaults-f104c14062cc)
2021. 05
Cross-chain expansion to HECO Chain
More details will be added as the scheduling is set.
