Accumulator Joins the Touchpoint Open Builders Program
Auto-Compounding Yield Aggregation for the IOTA Ecosystem
With the launch of Shimmer, many DeFi protocols will spring up, and with them opportunities to stake and earn yield. This could easily become overwhelming, especially when managing rewards gained through yield. After all, yield farming can be back-breaking work!
The latest addition to the Touchpoint Open Builders Program, Accumulator, promises to take the time and effort out of this process. It is a yield aggregator that seeks to maximize returns for its users by automating the compounding of interest on high-volume yield farms: that is, claiming the gains and reinvesting them on your behalf.
To find out more about Accumulator’s approach to auto-compounding, we asked them to explain in their own words.
Accumulator is an auto-compounder that will have select offerings from your new favorite DEXes and farms on Shimmer. Auto-compounding involves using tokens you are already farming on other sites and handles folding your rewards back into your position to keep it growing. All of this is done automatically via smart contracts so all you have to do is deposit and earn!
An auto-compounder is a valuable and necessary tool on any new chain, and our goal is to give users the best yield they can get from high-volume farms that may have lower Annual Percentage Yield due to said volume. So we are looking to offer the best APY for the most popular pairs.
While there will surely be competitors in the realm of yield optimizing for Shimmer, Accumulator will be working closely with early builders and the community to ensure that we provide vaults that are high in volume and could benefit from the APY boost of a yield optimizer. There will also be unique DeFi innovations and incentives not typically available with other compounder protocols – we’ll be announcing more on these as we get closer to launch.
Accumulator has a strong focus on security and safety, and uses battle tested contracts that will also have heavy audits of their own. We believe that providing a secure and user-friendly environment will help not only our users have confidence when making a deposit but also everyone else to have confidence in the strength and safety of the Shimmer ecosystem as a whole.
Accumulator’s team is made up of veterans from the DeFi/crypto space who have developed across other chains such as BSC, FTM, and AVAX. When we first heard about Shimmer being in the works we knew we had to be a part of it. The community is strong and it already feels like a solid comradery amongst other builders is forming. We still have EVM testnet coming soon where we are hoping to give everyone a preview of what’s to come!”
A big welcome to Accumulator – we’re curious to see how this will enhance the DeFi offering of Shimmer and IOTA. As always, when it comes to anything crypto, Do Your Own Research – to learn more about Accumulator at this early stage, follow them on Twitter.
Accumulator joins the Touchpoint Open Builders Program, offering participants a community of like-minded builders, direct access to experts, knowledge, and general support to launch and scale the next generation of decentralized applications and infrastructure on the Shimmer network. You can learn more about how Touchpoint works and how to become a part of it here.
Shimmer is an L1 innovation network providing the core building blocks for a scalable, modular multi-chain architecture. Similar to the IOTA network, Shimmer is built on a UTXO-based parallelized, directed acyclic graph (DAG), guaranteeing higher scalability than conventional Blockchains. At the same time, Shimmer ensures interoperability and composability of L2 smart contract chains, capable of connecting any type of L2 smart contract chain anchored to it. With its unique tokenization framework, Shimmer will become a multi-asset ledger for feeless minting and transfer of native assets without middlemen or crippling gas fees.
The native token of Shimmer is SMR, which serves as the network’s economic backbone, facilitating value transactions and interactions within the Shimmer ecosystem. Shimmer users use the SMR token to launch new DeFi applications, DEXs, NFTs, DAOs, and other dApps.
Every project that participates in Touchpoint is given the opportunity to introduce itself in its own words. Statements made by projects are not verified by Touchpoint, Shimmer, Assembly, or the IOTA Foundation and should not be taken as an endorsement. Individuals are advised to always conduct their own due diligence when engaging with any crypto projects.
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