The Omnipool is coming - but first, tCHOKE!

After intensive research & testing, the Artichoke development team has outlined the roll-out schedule for the Omnipool, starting with tCHOKE - Artichoke’s synthetic liquidity token.

The tCHOKE deployment marks the beginning of our gradual product rollout, which is structured as follows:

Short recap of tCHOKE’s design & role in the Artichoke ecosystem:

• tCHOKE is a synthetic liquidity token - it represents the assets deposited in the protocol, with $USDC acting as a stabilizer & main liquidity source

• as new tails are added, tCHOKE is paired with the new token, granting access to the full Omnipool liquidity

• more info can be found here

Specifications, Minting, Mechanics - let’s deep-dive into tCHOKE:

Token Type: ERC-5573 multi-asset token

Unlike traditional single-collateral assets, tCHOKE is designed to be backed by multiple collateral types, providing more robustness and diversity to its value proposition. Initially, it will have LP token collateral to deepen liquidity - and in Phase 2 will enable single-asset deposits for Artichoke’s Tails.

Minting - leveraging Camelot’s spNFTs for tCHOKE issuance

In order to create & receive tCHOKE, liquidity providers will initially be required to provide liquidity to select CamelotDEX pools, starting with $CHOKE/$USDC, extending to other base pairs such as $ARB/$wETH, $GRAIL/$ARB & others.

Rationale: Both $ETH and $ARB pairs are highly liquid assets with low volatility, that are meant to strengthen tCHOKE liquidity.

$CHOKE and $GRAIL, regardless of being medium-liquid, are highly volatile assets and should be ‘weighted’ with consideration.

This first round of liquidity provisions will form the core of the Omnipool & single-sided liquidity gateways of the Artichoke SSLP (these gateways are called “tails” - more info on them can be found here).

LP positions will have a wide range of different lock-up & maturity times, but all contribute to overall tCHOKE liquidity and fee-generation.

On top of accrued trading fees & LP yield, tCHOKE carries its own native reward system - yield accrual for tCHOKE looks as follows:

How to interact with tCHOKE:

All actions like minting, redeeming, reward tracking & claiming etc. will be available through our native portal at articho.ke directly from your Web3 wallet.

When will tCHOKE go live?

Scheduled deployment date for tCHOKE (Phase 1) is December 2023 - we are aware that this is later than the Beta Launch date indicated on our previous roadmap, but our risk-analysis and required changes in roll-out structure did not permit an earlier date.

The phased approach provides a much safer & controllable product launch and a more familiar model for liquidity providers as well as space for educational campaigns and partner onboarding & marketing efforts.

What happens after tCHOKE goes live?

First priority is liquidity growth for the tCHOKE/CHOKE pair with a target of 2-$2.5M USD TVL.

LPs are incentivized through

• instant virtual implicit liquidity through tCHOKE

• direct incentives through $CHOKE/$lCHOKE rewards

Layered spNFT deployment for base pairs such as $ETH/$USDC & $ARB/$ETH followed by less liquid tokens like $GRAIL & $GMX will happen alongside the liquidity aggregation towards tCHOKE/CHOKE.

Tail deployment and activation of the SSLP protocol layer will follow after sufficient base liquidity for these core pairs is achieved, with Q1 2024 as target date.

Where can I learn more?

More info on Artichoke’s design can be found on Gitbook and X - please reach out for partnerships, feedback & questions via the official channels on Telegram, Discord or X.