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VICTORIA, Seychelles, March 15, 2022 (GLOBE NEWSWIRE) — ADA Finance, a pioneering decentralized finance (DeFi) ecosystem which will operate on Avalanche initially, has successfully completed a rebrand, changing its name to Acta Finance (ActaFi). In addition to this rebrand, the ActaFi team have also been developing their own native Automated Market Maker (AMM) protocol, ActaFi Swap.
The ActaFi team took the name ‘Acta’ from the latin phrase ‘Acta non verba’, which translates to ‘deeds not words’ reflecting the team’s focus on substantive development and community building within the crypto space.
Commenting on the rebrand, ActaFi’s CEO & Founder, Christof Waton, said:
“Initially, we only wanted to launch on Cardano, but we couldn’t risk our investors’ funds developing on an early-stage blockchain that is still prone to vulnerabilities and scalability issues. Therefore we started to develop the same ecosystem, within the same project, on Avalanche in parallel. The name ADA Finance limited the interest of people that are anti or neutral towards ADA / Cardano, with our token on Avalanche and utilities on Avalanche, it was better to perform the rebrand to a neutral name, hence Acta Finance.”
Pioneering the DeFi space
ActaFi’s rebrand is accompanied by several new feature releases and announcements which will lay the foundation for ActaFi Swap. The first is an onchain affiliate program which will incentivise Acta community members to attract new users to the ecosystem, encouraging organic community growth.
This will work in conjunction with the onchain staking of $ACTA, the ecosystem’s new token. Users will be able to stake $ACTA in the normal way, maturing their stake to claim governance rights in the ecosystem’s new decentralized autonomous organization (DAO) when it becomes available.
TGE incentives for $ACTA will be made public on April 5, 2022 and both $ACTA staking and the ecosystem’s affiliate program are currently being audited by Solidity Finance.
A New Approach to AMMs
ActaFi’s new AMM, ActaFi Swap, is set to launch later in 2022 and will include several new features which put it at the cutting edge of AMM protocols.
Firstly, ActaFi Swap will follow Uniswap v3’s concentrated liquidity model, a model that allows liquidity to be allocated within a custom price range. Although this requires more maintenance than the passive function adopted by most common AMMs, the ability to customize price ranges allows liquidity providers to provide their capital in a more efficient way according to their needs. As a result it is preferred by experienced digital asset managers, market makers and funds as it allows them to act more dynamically to market changes.
Secondly, the ActaFi team is targeting decentralization and interoperability from the offset like competing aggregators, such as 1inch. This will provide maximum liquidity for the ActaFi ecosystem, ensuring that the AMM can achieve the most efficient prices for its assets.
Finally, ActaFi Swap will include a token bridge as a secondary function built into the swap, allowing users to benefit from access to greater liquidity for an asset on other blockchains (e.g. Ethereum, Cardano and Avalanche). Consequently, users have the best possible price outcome for the assets they want to exchange. This is a feature of the most sophisticated DeFi ecosystems, but is often too complex for regular users to make use of. ActaFi Swap will simplify the user experience to make toke bridges more accessible to the regular user.
For more information on ActaFi Swap, read this blog
Building on a Year of Success
Both ActaFi’s rebrand and the development of its own AMM follow a year of positive press, business development and community building for the ActaFi team. The team received an award for Best DeFi Project of the Year at the AIBC Summit in Malta in November 2021. Consequently, the team attracted the attention of several KOLs in the crypto space, including over 70 YouTubers with a global reach of over 8 million people. The team also managed to secure an investment from Roger Ver (AKA Crypto Jesus), former CEO of Bitcoin.com and early investor in Bitcoin.
The ActaFi team are now leveraging this success to position themselves at the forefront of the DeFi space, with the rebrand putting emphasis firmly on development.
For more information on how Acta Finance is positioning itself as a leading innovator in the DeFi space, visit their website here.
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