Bagels Leveraged Yield Farming Protocol and Cross-chain Aggregation Protocol (Dokodoa)

Leveraged yield farming protocol, cross-chain aggregation protocol, cross-chain vault, cross-chain liquidity farming, etc., the above terms sound confusing and so what the heck is happening in DeFi? And what is Bagels trying to do to innovate in this ever-changing space?

Before diving into the details, let’s make it clear that the Bagels leveraged yield farming protocol and the cross-chain aggregation protocol are two different products.

Firstly, Bagels is a lending + farming strategy platform. The Bagels platform has integrated various mainstream liquidity mining pool strategies in the DeFi market. Users only need to stake one asset to the liquidity pool for yield farming. It helps users to simplify the process and maximize the APY compared to other liquidity pools which require users to stake two assets at 1:1.

Bagels’ logic can be understood as a way of leveraged asset allocation, which is very common in traditional finance. When you open a position for leveraged farming, you may select the multiple you would like to leverage, and bagels will allocate the corresponding assets to you. When you want to close the position and withdraw the fund, bagels will automatically return the equivalent value of assets allocated to you then to bagels’ deposit pool through smart contract. In fact, the assets that are allocated to you have never been deposited in your wallet. It just provides you the leverage to increase your APY by the multiple you choose.

Okay, how about Dokodoa? How is it different than Bagels then?

Cross-chain Aggregation Protocol: Dokodoa is an open source protocol that allows multi-assets to be crossed to different public chains ecosystem, completes multi-assets switch and smart contract interaction on different public chains, and achieves cross-chain yield farming as well as cross-chain vaults.

Cross-chain Aggregation Protocol (Dokodoa) Solution

Dokodoa is a secure and decentralized cross-chain solution based on state oracle technology and cross-chain bridge smart contracts. It can support public chains that include signature algorithms using ECDSA and EDDSA, such as Ethereum, HECO, BSC, Okex Chain, etc. Users only need one-click to complete the deposit and achieve cross-chain transactions. It eliminates the need to switch between different public chain network settings. The cross-chain bridge node automatically determines the user’s transaction and triggers the cross-chain mapping contract to generate 1:1 assets on its corresponding chain.

Thanks to the cross-chain aggregation protocol, users on Ethereum can use the Dokodoa cross-chain aggregation protocol to mine the liquidity pools of DeFi projects on HECO and BSC. For example, if an user wants to cross the Ethereum assets to BSC or HECO, he only needs to deploy the Dokodoa cross-chain bridge smart contract on Ethereum to initiate a deposit to the custodial account. The smart contract changes according to the status of the custodial account to facilitate the generation of mapping tokens on BSC or HECO, and his account on BSC or HECO mints mapping tokens to complete the cross-chain mapping of the tokens.

There is actually real innovation here and it can actually be very attractive to users. They can pay little gas fee to mine the DeFi tokens on ETH. How does it work?

When user A mines on the ETH, he needs to pay an ultra-high gas fee, which discourages the small traders to mine on ETH and in addition, he can only mine on ETH. When the cross-chain aggregation protocol is executed, user A chooses to deposit on HECO, and he only needs to pay gas fee on HECO so to avoid the high gas fee on ETH, but achieve the same goal by crossing-chain to ETH for mining.

You may wonder now, so who will pay for the high gas fee on ETH?

Dokodoa can be connected to a platform similar to KP3R. Gas fees on ETH will be covered by triggers on ETH, and the trigger will pay gas fees to get mining rewards.

Bagels and Dokodoa are complementary to each other. Dokodoa, the cross-chain aggregation protocol solves the cross-chain problem of asset liquidity. This provides better liquidity for assets and allows more mining strategies to be executed on Bagels, the leveraged yield farming protocol.

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Leveraged Yield Farming Protocol

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Leveraged Yield Farming Protocol

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