The Ajna protocol is a noncustodial, peer-to-peer, permissionless lending, borrowing and trading system implemented for the Ethereum Virtual Machine that requires no governance or external price feeds to function.
FAQ
The protocol consists of pools: pairings of quote tokens provided by lenders and collateral tokens provided by borrowers. Ajna is capable of accepting fungible tokens (ERC-20) as quote tokens and fungible (ERC-20) as well as non-fungible (ERC-721) tokens as collateral tokens. There is no governance process or gating mechanism that controls which assets can be used in a pairing.
Once a pairing of assets has been created, any user can come to the pool to lend or borrow quote token by pledging collateral. Lenders input a price that they’re willing to lend at (and conversely willing to purchase the collateral at) and borrowers are informed as to the best available liquidity for the amount of collateral they have. The smart contracts, using market mechanisms, manage liquidity, interest rates, and liquidations. Loans on Ajna are perpetual in nature and do not expire. More information on these mechanisms will be provided in the whitepaper on it’s release.
No, Ajna is an immutable set of smart contracts that cannot be changed. If a new version of Ajna is deployed, existing liquidity will need to migrate to these new contracts.
The protocol is written to work on any EVM (Ethereum Virtual Machine) compatible chain. The first launch will be on the Ethereum Mainnet chain with secondary launches on various L2s and compatible L1s.
Q2 2023.
Q4 2022.
At this time, the best way to get involved is to learn about the system and see how you can contribute. Please join our discord server to get more involved.
No Ajna is entirely non custodial, user’s are in charge of their private keys at all times.
Ajna is scheduled to be audited by: Trail of Bits, Prototech labs, Quantstamp, and Sherlock.
Ajna will have a bug bounty once deployed in Q2 2023.
No, Ajna Labs has no ability to change or manipulate the smart contracts once they are deployed.
Check out our website https://ajna.finance and join our Discord https://discord.gg/pQu52Dtw7r
When released there will be testnet and mainnet versions. Links will be posted on https://ajna.finance
Blockchain applications cannot interact or read data external to the blockchain in which it exists. Oracles provide external data to blockchain applications.
Relying on oracles for pricing data in a DeFi application creates an external point of failure as they can be manipulated or compromised.
Ajna uses an internal order book empowering lenders to set asset values.
This reduces the attack surface of the protocol and makes lending and borrowing more secure.
Governance is when a protocol uses voting or another mechanism such as a centralized entity to implement changes to the protocol without user consent. It is often used to manipulate parameters or add functionality.
Aside from being a potential attack vector, governance does not scale as an economic mechanism. Existing protocols that rely on governance find themselves behind the curve and bogged down in political arguments. Ajna uses market mechanisms to set all contract parameters and can therefore adapt to any market conditions and become a solid foundation on which users can rely.
The code is available on our GitHub https://github.com/ajna-finance
When deployed a link will be available on our https://ajna.finance
We are not commenting on our token strategy at this time.