Technologies at Work
Protocol
The CRANK protocol currently exists only on Arbitrum due to the lower transaction fees and ample available liquidiy. There are plans to launch on other blockchains in the future. The primary form of collateral we have chosen to utilize is wstETH
Ethereum
Ethereum is a decentralized blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software
#Ethereum
Arbitrum
Arbitrum is a Layer 2 solution for the Ethereum blockchain, designed to improve the speed of transactions, increase scalability, and boost the network's privacy. It allows users to perform transactions off the main network and has them verified and batched before being committed back to the main chain
#Ethereum
#Arbitrum
Wrapped Staked ETH
Lido's wrapped stETH (wstETH) is stETH which is deposited into the stETH wrapper to create a new token called wstETH. Wrapping stETH creates a DeFi-compatible version of the stETH token which allows for easier integrations with DeFi protocols
#Ethereum
#Arbitrum
#wsETH
Introduction
Protocol Overview
The CRANK protocol allows participants to leverage yield-earning fully-collateralized assets into instruments that further enhance potential earnings. This 'double dipping', or Yield Enhancement occurs without staking timelines or holding fees. Initialization fees deter front-running, thereafter the staking term is user-defined and can be perpetual
crEth Minting
crEth Leverage
CRANK Token
Yield Farming
What are my opportunities?
Protocol Services
crEth Token
crEth / wstEth LP
- Mint crEth ('Cranked Eth') with wstEth from your wallet
- There is no time lock only an one-time 0.5% fee (99.5% retension)
- The crEth/wstEth pool should approximate a 1:1 relationship with opportunities to artibrage, otherwise
- The minted crEth is burned when you recapture your wstEth
Leverage your crEth
Leverage / Deleverage crEth
- Leverage further mints additional crEth (at the flat 0.5% fee per 1x)
- Up to 100x leverage is possible depeding upon sum and pool liquidity
- Adjust your Break Even point to capture higher APY or reach BE sooner
- There are no time locks nor limits. Interest acrues until you choose to deleverage
- Interest from wstEth can be captured regularly
CRANK Token
CRANK
- Liquidity Pool transactions, minting fees, and shared wstEth interest poor into CRANK
- CRANK is the protocol's measure of success
- CRANK can be traded speculatively
- Rug Assurance: Upon launch, CRANK keys will have been rendered to the protocol
CRANK / wstEth LP
CRANK Yield Farming
- Use your passive CRANK and wstEth to compound earnings
- Participate in the CRANK protocol by providing liquidity
- There are no time locks, but there is an initial 0.5% fee to prevent frontrunning
- Receive a portion of all transactions, fees and interest within the protocol
- Exchange future interest for short and near term profitability