During the Unit protocol development, we faced difficulties with finding a reliable, flexible protocol for stable coin swap without interface censorship where anyone can add their pools and any person will not filter it.
Uniswap is very convenient because anyone can list any token, and the default interface will work without any governance process or token censorship. But Uniswap, due to its bonding curve, is not very suitable for a similar peg assets swap because of high slippage.
We are happy to introduce Component https://component.finance/ to you.
The Component governance token will be distributed retrospectively to the liquidity providers of core pools after a 1–3 month period, there are no certain conditions set so far, and information about distribution parameters will be announced later. The reward period starts from the time of the announcement.
We start with our first pool USDP-USDC-USDT in the proportion of 50%\25%\25% and swap fee of 0.2%, eventually with the increasing size of the pool swap fees will decrease. Now anyone can mint Unit protocol USDP(https://app.unit.xyz/) based on a variety of collaterals with competitive rates and use the liquidity pool to swap it to major stablecoins, as well as move liquidity back to repay the debt and withdraw their deposited collateral.
We don’t plan to limit the usability of the Component protocol only to one usecase. Eventually, anyone has to be able to create any pools with no restrictions, our goal would be just to provide accurate information about the pool structure and interface to deploy and to interact with such pool.
The Component is a community fork of Shell protocol and includes all its flexibility settings with an additional admin fee feature, which will allow collecting % of the base fee from all core pools and distribute it among Component protocol governance token stakers. Shell protocol code is audited by Consensys https://diligence.consensys.net/audits/2020/06/shell-protocol/, and our admin fee adjustment is audited by our internal resources.
Telegram chat: https://t.me/componentfinance