Introduction to Aquarius Finance

3 min readMay 20, 2021

Aquarius Protocol‌

Aquarius is a fork of the Liquity protocol in the Fantom network. Aquarius has the features and benefits consistent with the Liquity protocol. In addition, based on the concept of Liquity, we have designed a new tokenomics to adapt to the fantom network.

In view of the perfect system and success of Liquity, we expect Aquarius to be the next MakerDao in the Fantom network. With the growth of Fantom network, aUSD might become one of the important Stablecoin assets.

‌We hope that Aquarius would become the fundamental financial infrastructure.

Core Feature

By staking FTM assets, Stablecoin (aUSD) of zero interest-fee is minted to improve capital utilization.
Token (AQU) holders can earn 100% of the Borrowing fee and Redemption fee.
The token contract will charge a 5% fee for each AQU transaction.

AQU Token‌

AQU is the secondary token issued by the Aquarius. It captures the fee revenue that is generated by the system and incentivizes early adopters and Frontend Operators.

Token Distribution

100 million (100,000,000) AQU tokens in total.
0.1% of each AQU transaction will be burnt.

54% to the Aquarius Community‌

32% for stability pool rewards: Issued to users who deposit aUSD to the Stability Pool. The rewards described by the following function: 32,000,000 * (1–0.5^year)
aUSD-FTM(0.1%): will be allocated to LPs of the aUSD:FTM Sushiswap pool. These tokens are earned by staking aUSD:FTM Sushiswap LP tokens and will be distributed by the protocol over the course of 20 days.
AQU-FTM (11.9%): Continuously minted for one year to liquidity providers of SushiSwap AQU-FTM trading pair.
aUSD-3Pool (10%): Continuously issued to liquidity providers of aUSD, e.g USDT-aUSD pair pool will be added on the Curve in the future.

25% to Team

Tokens will be locked up in the contract and released following a pre-set schedule.

20% airdrop to LQTY holders and Liquity Team

17% airdrop to LQTY holders
3% Liquity core team
We are seeking an official license from Liquity. Tokens will be locked in multi-sig-address. The airdrop plan will be released within the first 15 days following the Aquarius’ authorization. If the authorization does not happen in the first six months, these tokens will be destroyed.

1% marketing/bounties:

Set aside in multi-sig-address for providing initial liquidity and other marketing/promotion needs

Mechanism(Token Transfer Fee)

AQU token protocol will charge 5% of any transactions.

2.4% of transactions will be sent to the AQU stakers
2.5% of transactions will be exchanged to LP tokens and added in the AQU-FTM Pool of SushiSwap
0.1% of transactions will be burnt

Based on the design philosophy of Liquity, the protocol does not have any function of governance, nor will AQU have the function of governance or voting. We therefore designed this system to encourage holders to stake AQU in long terms to capture more platform fees. ‌

Decentralized Frontend Operator

Aquarius does not run its own web interface. Instead, the protocol can be accessed via third-party frontend operator. Anyone can easily run a frontend by using the launch kit or SDK and by doing so, earn a share of the Stability Pool rewards.

Stability Pool Rewards

Users can deposit aUSD to Stability Pool to get :

FTM gains (through liquidations of risky troves)
AQU rewards as incentives for being early adopters

Staking AQU

Users can stake AQU to earn :

aUSD (Borrowing fee)
FTM(Redemption fee)
AQU(Transfer fee)

Supervisor & Co-Signer

We are delighted to receive the trust and endorsement by the LiquityFi team, who will also be our third-party frontend provider! They offered some good ideas for Aquarius project.

Also, LiquityFi is willing to be our wallet signer, which will make us more transparent and trusted.