What are Rhino.Fi AMMs?
The Rhino.Fi Automated Market Makers (AMMs) are liquidity pools of two tokens which make their liquidity available to Rhino.Fi swappers/traders via a pre-determined set of rules. Anyone can supply tokens to the Rhino.Fi AMM pools, opening up a new way of bootstrapping token markets on Layer 2
The Rhino.Fi AMMs are based on the Uniswap V2 and SushiSwap AMMs, that have been re-engineered and expanded to be compatible with the StarkWare StarkEx Validium layer 2 rollup, which is at the heart of the Rhino.Fi platform.
The Rhino.Fi AMMs are the first example of completely trustless/self-custodial AMMs to launch on the StarkEx technology
The Rhino.Fi AMMs have a number of unique features:
Completely trustless layer 2 AMMs - complete with Layer 1 syncing and escape hatches to ensure that liquidity providers always maintain control of their funds and not the operator of the rollup
Completely gas-free swapping and liquidity provision - gas fees are paid by the operator of the rollup at the same time as updating the state on-chain (every 8-14 hours)
No front-running - built on the high speed rhino.fi matching engine and data services, swapping using AMMs is lightning quick and prevents MEV & front-running
Private - activity on rhino.fi cannot be seen on the block-chain as data is held offchain and verified by the Data Availability Committee
FAQ
Can I provide liquidity to a pool with just one token?
The rhino.fi AMMs allow you to supply tokens to the pool in a 50/50 USD equivalent ratio. That means you need to have both tokens before supplying to the pool. If you only have one of the tokens needed by the pool, you can swap some to the other token using the Rhino.Fi Swap page (be careful of slippage and always check the price!), or deposit external tokens to the Rhino.Fi platform from Ethereum mainnet
Single sided liquidity is one of the next features on the roadmap
What do the statistics on the Pools dashboard mean?
The below is an example of the Pools dashboard taken from the Rhino.Fi testing environment, and is used for illustrative purposes only
Total Liquidity Provided - The USD amount of tokens that you have supplied into the rhino.fi AMM pools
Total Fees Accrued - The amount of swap fees you have earned from your supplied liquidity. These fees are added to your supplied amounts of tokens automatically (ie you do not need to claim)
Locked Rewards - If you choose to lock your DVF rewards, you will receive 100% of the APY DVF rewards and your DVF rewards will be claimable with a 6 month delay. For example, your locked DVF rewards earned on Day 1, will be available on Day 180. Your locked DVF rewards earned on Day 2 will be available on day 181.
Unlocked Rewards - If you choose not to lock your DVF rewards, you will receive 30% of the APY DVF rewards, which can be claimed immediately (after every hour). Any DVF rewards that are locked, will move to the Unlocked Rewards section once their 6 months lock/delay ends.
Total Liquidity - The total amount of tokens supplied to the AMM pool, in USD
Swap Fee - The fee paid by swappers, split across the pool liquidity providers and the pool operator
Volume - The 24 hour volume of tokens swaps using the pool
Base APY - The APY of fees paid by swappers and earned by liquidity providers
DVF Rewards APY - The smaller number is the APY of rewards paid if you choose to receive rewards immediately. The larger number is if you choose to delay your rewards for six months
My Liquidity - The amount of tokens that you have supplied to the pool, in USD
How often are DVF rewards & Fees updated?
Fees and Locked & Claimable rewards are updated every 30 minutes, and finalised after one hour. Therefore you may notice some small differences as rewards are calibrated towards the end of the hour
Can I withdraw my (Liquidity Provider) LP tokens?
At this time you cannot withdraw your liquidity provider tokens (the 'receipts' that you receive for depositing tokens into the rhino.fi AMMs) via the UI. You can withdraw manually, directly from the deposit contract, but we do not recommend it at this time as we want to monitor the AMMs performance over time before releasing more features and improvements
How are the APY's Calculated?
The 'APY' calculations are simple APR calculations. Ie they do not include compounding of reinvested rewards
What is the difference between Locked APY and Unlocked APY?
You can earn DVF rewards for supplying tokens to the AMM pools. You can choose to lock those rewards for 6 months, or receive them immediately.
Choosing to lock, or earn unlocked rewards is done by moving the toggle on the AMM pool supply/remove page
If you choose to lock your DVF rewards, you will receive 100% of the variable DVF rewards APY for that particular pool and your DVF rewards will be claimable with a 6 month delay. For example, your locked DVF rewards earned on Day 1, will be available on Day 180. Your locked DVF rewards earned on Day 2 will be available on day 181.
If you choose not to lock your DVF rewards, you will receive 30% of the APY DVF rewards, which can be claimed immediately (after every hour).
Switching the toggle between locked does not impact DVF rewards that you have already earned, but impacts any new DVF rewards that you earn. For example, if you initially locked your DVF rewards, but then flipped the toggle to 'unlocked' you would notice that you start receiving DVF to the 'Unlocked Rewards' section of your dashboard at 30% of the rate you were previously receiving locked rewards. Your locked rewards DVF would stay the same number for 6 months, at which point the rewards would start moving from your locked rewards to your unlocked rewards pile
How to claim my DVF rewards?
Any DVF rewards that have been earned from you supplying your tokens to the AMM pools can be claimed by clocking the claim button on the main rhino.fi pools page
Claiming DVF rewards costs no gas, and the DVF tokens then are available in your rhino.fi account and visible in your rhino.fi portfolio page or dashboard
How to Remove My Supplied Tokens
You can remove your supplied tokens by going to the individual supply/remove page, going to the remove tab and then specifying how much (as a percentage) of your tokens you wish to remove.
The removed tokens will end up back in your rhino.fi account and are then can be used on rhino.fi as you would any other token (swap, withdraw, send, invest, supply)
For more information on the rhino.fi AMM Liquidity Provider liquidity mining programme, please see the following blog post.
The Rhino.Fi Automated Market Makers (AMMs) are liquidity pools of two tokens which make their liquidity available to Rhino.Fi swappers/traders via a pre-determined set of rules. Anyone can supply tokens to the Rhino.Fi AMM pools, opening up a new way of bootstrapping token markets on Layer 2
The Rhino.Fi AMMs are based on the Uniswap V2 and SushiSwap AMMs, that have been re-engineered and expanded to be compatible with the StarkWare StarkEx Validium layer 2 rollup, which is at the heart of the Rhino.Fi platform.
The Rhino.Fi AMMs are the first example of completely trustless/self-custodial AMMs to launch on the StarkEx technology
The Rhino.Fi AMMs have a number of unique features:
Completely trustless layer 2 AMMs - complete with Layer 1 syncing and escape hatches to ensure that liquidity providers always maintain control of their funds and not the operator of the rollup
Completely gas-free swapping and liquidity provision - gas fees are paid by the operator of the rollup at the same time as updating the state on-chain (every 8-14 hours)
No front-running - built on the high speed rhino.fi matching engine and data services, swapping using AMMs is lightning quick and prevents MEV & front-running
Private - activity on rhino.fi cannot be seen on the block-chain as data is held offchain and verified by the Data Availability Committee
FAQ
Can I provide liquidity to a pool with just one token?
The rhino.fi AMMs allow you to supply tokens to the pool in a 50/50 USD equivalent ratio. That means you need to have both tokens before supplying to the pool. If you only have one of the tokens needed by the pool, you can swap some to the other token using the Rhino.Fi Swap page (be careful of slippage and always check the price!), or deposit external tokens to the Rhino.Fi platform from Ethereum mainnet
Single sided liquidity is one of the next features on the roadmap
What do the statistics on the Pools dashboard mean?
The below is an example of the Pools dashboard taken from the Rhino.Fi testing environment, and is used for illustrative purposes only
Total Liquidity Provided - The USD amount of tokens that you have supplied into the rhino.fi AMM pools
Total Fees Accrued - The amount of swap fees you have earned from your supplied liquidity. These fees are added to your supplied amounts of tokens automatically (ie you do not need to claim)
Locked Rewards - If you choose to lock your DVF rewards, you will receive 100% of the APY DVF rewards and your DVF rewards will be claimable with a 6 month delay. For example, your locked DVF rewards earned on Day 1, will be available on Day 180. Your locked DVF rewards earned on Day 2 will be available on day 181.
Unlocked Rewards - If you choose not to lock your DVF rewards, you will receive 30% of the APY DVF rewards, which can be claimed immediately (after every hour). Any DVF rewards that are locked, will move to the Unlocked Rewards section once their 6 months lock/delay ends.
Total Liquidity - The total amount of tokens supplied to the AMM pool, in USD
Swap Fee - The fee paid by swappers, split across the pool liquidity providers and the pool operator
Volume - The 24 hour volume of tokens swaps using the pool
Base APY - The APY of fees paid by swappers and earned by liquidity providers
DVF Rewards APY - The smaller number is the APY of rewards paid if you choose to receive rewards immediately. The larger number is if you choose to delay your rewards for six months
My Liquidity - The amount of tokens that you have supplied to the pool, in USD
How often are DVF rewards & Fees updated?
Fees and Locked & Claimable rewards are updated every 30 minutes, and finalised after one hour. Therefore you may notice some small differences as rewards are calibrated towards the end of the hour
Can I withdraw my (Liquidity Provider) LP tokens?
At this time you cannot withdraw your liquidity provider tokens (the 'receipts' that you receive for depositing tokens into the rhino.fi AMMs) via the UI. You can withdraw manually, directly from the deposit contract, but we do not recommend it at this time as we want to monitor the AMMs performance over time before releasing more features and improvements
How are the APY's Calculated?
The 'APY' calculations are simple APR calculations. Ie they do not include compounding of reinvested rewards
What is the difference between Locked APY and Unlocked APY?
You can earn DVF rewards for supplying tokens to the AMM pools. You can choose to lock those rewards for 6 months, or receive them immediately.
Choosing to lock, or earn unlocked rewards is done by moving the toggle on the AMM pool supply/remove page
If you choose to lock your DVF rewards, you will receive 100% of the variable DVF rewards APY for that particular pool and your DVF rewards will be claimable with a 6 month delay. For example, your locked DVF rewards earned on Day 1, will be available on Day 180. Your locked DVF rewards earned on Day 2 will be available on day 181.
If you choose not to lock your DVF rewards, you will receive 30% of the APY DVF rewards, which can be claimed immediately (after every hour).
Switching the toggle between locked does not impact DVF rewards that you have already earned, but impacts any new DVF rewards that you earn. For example, if you initially locked your DVF rewards, but then flipped the toggle to 'unlocked' you would notice that you start receiving DVF to the 'Unlocked Rewards' section of your dashboard at 30% of the rate you were previously receiving locked rewards. Your locked rewards DVF would stay the same number for 6 months, at which point the rewards would start moving from your locked rewards to your unlocked rewards pile
How to claim my DVF rewards?
Any DVF rewards that have been earned from you supplying your tokens to the AMM pools can be claimed by clocking the claim button on the main rhino.fi pools page
Claiming DVF rewards costs no gas, and the DVF tokens then are available in your rhino.fi account and visible in your rhino.fi portfolio page or dashboard
How to Remove My Supplied Tokens
You can remove your supplied tokens by going to the individual supply/remove page, going to the remove tab and then specifying how much (as a percentage) of your tokens you wish to remove.
The removed tokens will end up back in your rhino.fi account and are then can be used on rhino.fi as you would any other token (swap, withdraw, send, invest, supply)
For more information on the rhino.fi AMM Liquidity Provider liquidity mining programme, please see the following blog post.
Updated on: 19 / 08 / 2022