The first set of layer-2 expansion protocols for Ethereum efficiently addresses the two main issues of Ethereum congestion and excessive gas fees.
Agalta Protocol is a decentralized cross-chain protocol that is fast, secure, and trustworthy. It is the first Ethereum-compatible layer2 extension protocol. It can effectively address Ethereum’s two main issues of congestion and expensive gas fees. The Internet’s scale is extended to existing and future blockchains, allowing developers to create Dapps and run large-scale commercial applications more quickly.
Agalta Protocol will continue to focus on the development of the public chain Layer-2 cross-chain DeFi ecosystem in the future, launching a multi-chain and cross-chain research and development plan, and gradually opening up multiple public chains such as Binance Smart Chain, Huobi Ecological Chain, Polkadot Main Chain, OKT, and others. The Layer-2 high-speed cross-chain network has become the cornerstone of the global public chain DeFi ecosystem, steadily opening up enterprise development kits and supporting DeFi projects and goods on the One-click Fork Ethereum.
By adopting the underlying technology of the AgaltaAPI framework, Agalta Protocol supports ETH and ERC20 tokens on it to quickly recharge to the Agalta chain, and supports the latest AMM model exchange transactions, so that all exchanges are completed on Layer-2, which reduces user transaction costs. Simultaneously, the user’s overall trading experience is ensured.
DEX products that use the Agalta Protocol have the following advantages over standard DEX:
- Decentralized network: The first batch of layer-2 extension protocols that enable Ethereum, with scalability and resilience advantages, is an efficient, safe, and credible decentralized side chain network.
- Cross-chain anchoring: AGT provides a two-way anchored Aga-adapter for ETH and other ERC-20 tokens, allowing them to be transferred to the Agalta chain and run in an EVM-compatible environment.
- AMM model: The newly optimized AMM model prices assets automatically using the smart contract’s pricing algorithm and creates a liquidity pool for each transaction token. The AMM pool automates the provision of liquidity for asset trades.
- Ultra high TPS: The AgaltaAPI framework-based high-performance cross-chain network has a theoretical TPS performance of up to 140,000+, greatly beyond the current blockchain transaction performance.
- 0 Gas fee: It can avoid network congestion and excessive gas costs thanks to its unique layer-2 topology. Users can trade freely without worrying about hefty handling costs or network delays because there is no gas fee.
- Real-time transaction: All transactions have been transferred to Layer-2, and users no longer have to wait for a block’s confirmation time, allowing for real-time transactions.
- Privacy and security: The data of users participating in transactions may be entirely privacy protected, and personal data leakage and data loss can be avoided, thanks to the advantages of the blockchain’s distributed structure, anonymity, and non-tampering of data.
Aga-adapter, Aga-Hub cross-chain gateway, ACCP cross-chain communication protocol, and Layer-2 Agalta chain relay cross-chain network make up the Agalta Protocol cross-chain architecture.
Agalta protocol Cross-chain architecture
- Aga-adapter: That is, the application chain adapter is in charge of monitoring ETH Layer-1 main chain event data and transmitting it to the Aga-Hub gateway using the ACCP cross-chain communication protocol.
- Aga-Hub: According to the ACCP communication standard, the cross-chain gateway is responsible for providing communication routes and other functions for Layer-1 and Agalta relay chains.
- ACCP: Agalta Cross-chain Protocol is the name of a cross-chain communication protocol developed by Agalta. The ACCP standard is used for all cross-chain communication exchanges in the Agalta Protocol.
- Agalta chain: As the Layer-2 layer, the Agalta relay cross-chain network carries all transactions and clearing settlements. It features ultra-high TPS (theoretical 140,000+), no Gas cost, and very low latency.
Agalta Protocol will keep putting in the effort in three areas:
- The first is to bring together ETH’s cross-chain interaction experience.
- The second goal is to improve developer tools and expand the types of assets supported on the blockchain.
- The third goal is to make public chain cross-chain services more widespread.
- The first round of open invites to various decentralized Swap applications to participate in the test Open ETH Layer-2 SDK product test channels, spanning cross-chain gateways, adapters, cross-chain protocols, and so forth.
- The project’s official website is now up and running.
- The AGT mainnet is now operational, with the first batch of users gaining access to Ethereum and the ability to pledge and withdraw ERC20 tokens.
- ETH Layer-2 SDK items have been officially launched, comprising cross-chain gateways, adapters, cross-chain protocols, and more, as well as cross-chain Demo goods.
- Support several DEX goods for quick trading and exchange, as well as increased access to Defi items.
- More ETH issuance protocols, like as ERC23, ERC721, ERC777, and others, are supported.
- Core codes such as cross-chain gateways, adapters, and cross-chain protocols were subjected to a multi-agency security examination.
- Access to third-party oracle products for cross-chain Defi product quoting functions
- Begin developing a multi-chain and cross-chain research and development strategy, and gradually open the Binance Smart Chain. Polkadot main chain, Huobi ecological chain Multiple public chains, such as OKT, are connected in a Layer-2 high-speed network.
- Open the enterprise development kit, and use the one-click Fork Ethereum to support Defi projects and goods.
Agalta Token is the Agalta Protocol token. It includes a total of 1 billion tokens, which will never be additionally issued. The Token distribution ratio is as follows:
- 15%：Pre-sale and public sale, totaling 150 million pieces.
- 10% ：Team, a total of 100 million pieces, to be released linearly in two years.
- 2% ：Whitelist project development incentives, a total of 20 million.
- 65%：mining, a total of 650 million pieces. Among them, 30% is liquid mining; 20% is pledged mining called by API, 10% is pledged mining of relay network nodes; 5% is cross-chain recharge transaction mining.
- 8% ：DAO governance and community activities, a total of 80 million. The pledge node is the DAO governance node and has the right to propose. Users participate in voting to determine the distribution method of the DAO fund, and can receive corresponding rewards during each proposal voting period.
AGT Use Cases
Pledge of ecological project developers: Commit of ecological project developers: To use the Agalta Protocol, projects and applications must pledge a specified amount of AGT and pass the community assessment. Pledge of relay network nodes: To join the Agalta Protocol’s relay network nodes, you must pledge a particular quantity of AGT and pass a community assessment.
- The DAO node election is open to users who have a particular number of AGT. The node has the ability to make a proposal. Changes to the processing fee, the allocation of liquid mining capital pools, and the Agalta Protocol long-term incentive plan are all possible upgrades.
- All AGT holders are eligible to vote. Proposals with a majority of votes can be adopted. Implementation is the responsibility of the development team.
Agalta Protocol fee: The Agalta Protocol will thereafter levy a protocol fee of 0.2 percent of all Layer2 Swap transaction volume, with 0.1 percent going to liquidity providers and 0.1 percent going to long-term project incentives (repurchase and destruction, etc.).
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