Vitalii Horelyk

Formation Fi is a DeFi project that aims to take yield farming to another level by integrating the risk parity strategy first implemented by billionaire hedge fund manager Ray Dalio for stock markets. The yield farming protocol developed by Formation Fi distributes risk across multiple uncorrelated assets within the crypto space. The protocol is chain-agnostic, community-oriented, and targets long-term success.

Risk Parity Protocol's systematic architecture constructs risk adjusted parameters to optimize the return to risk ratio for each unit of risk.

Through prioritizing secular diversification, the risk parity rebalancing mechanism sorts smart-asset allocation by pairing countertrend assets. This allows for iso-diversification construction to occur within our index coins to minimize risk fluctuations at a fundamental level - as it can detect levels of asset behaviors. Risk Parity Protocol rethinks and restructures how we interact with risks and it outperforms the most popular financially engineered strategies.

Ink Finance doesn't just build any organizations, it builds financial institutions of the Web3 era. Its comprehensive and specialized tools enable emerging managers to financialize and capitalize the explosive growth of heterogeneous assets.

The validity of a financial DAO member in a decentralized and cross-chain setting lies at the core of credit mediation. Ink Finance tackles the challenge of identity verification and Sybil resistance by pre-packaging in its solutions the latest developed decentralized facilities offered by Aikon and Humanode.

Ink Finance provides a

purpose-guided user experience for organizations to set up, customize,and iterate their DAO operations across multichains, intuitively, accurately and quickly.

PolyGod is a virtual tower rush video game that pits players in 1v1 combat, in which the objective is to destroy the most opposing towers, with the destruction of the King’s Tower being an instantaneous win. The winner takes all!

PolyGod players have a wide arsenal to enjoy the game. Building, leveling up, NFTs, play-to-earn, crafting, and unique dual coin mechanics! All of this is set in the Norse Mythology to the finest detail!

NFT Marketplace with supported De-Fi & Interoperability Tools Spores Labs deeply believes that a digital “metaverse” is being built today that will revolutionize our thoughts and behavior with respect to living, owning, sharing our physical and digital lives.

Spores seeks to empower creators to create, exchange, and communicate their life’s work, enabling the decentralization of ownership and frictionless redistribution of capital.

Kilde is a regulated investment platform for alternatives. They operate as a two-sided platform connecting institutions / HNWI with securitized private investments. Their main alternative asset classes are private debt, venture debt, and recurring revenue financing. Kilde has partnered with leading non-banking consumer & SME lending firms to give investors safe and controlled access to consumer lending assets. Their unfair advantage is vast accumulated data on consumer & SME assets performance as well as scalable investment and securitization tech platforms. Thanks to Kilde’s license for dealing in securities, they securitize alternative investments into digital securities.

Hinata is the first DAO built around illustrated NFTs. Thousands of members with access to exclusive drops and continuing platform governance.

Over 50 original characters, 75+ artist partners, and a steady stream of quality content for Decentraland, Sandbox, and other universes.

NFT ecosystem featuring a wide range of options for artists, brands, and decentralized organizations create a hyper successful NFT or ERC-20 product launch.

Enrex is the definitive purveyor of the much needed linkage between the regulated environmental and carbon markets and decentralized finance (DeFi). It is a platform which delivers the ultimate promise of easing the transition for crypto businesses to a more eco-friendly trajectory. Moreover, Enrex offers both consumers and financial instrument issuing authorities an easy-to-use application set to deepen their pledge for a greener environment.

Enrex’s team is deeply concerned with the ongoing climate change problems. Carbon-free sources of energy shall allow the world to not supply new waste. Crypto industry consumes more electricity than the entire annual energy consumption of certain countries, like that of the Netherlands or New Zealand. That is deeply concerning and it is Enrex’s mission to give it a shot at reducing these numbers to the limit. Thus, Enrex opts to make carbon reduction a form of environmentalism that is rewarding - Enrex’s users can make money while reducing the overall carbon footprint made by the crypto industries.

Enrex is unique in the carbon markets, because its sole target is the problematic polluting factor coming from the crypto business activities. To that extent, Enrex is prepared to tackle this problem in the most transparent and credible way possible - government mandated environmental instruments and their tokenization.

Because as it is a well known phenomenon, carbon offsets maintain a major credibility problem. Carbon offsets have traceability issues, considering that most of voluntary carbon offsetting never results in the full promised amount offsetted, or employing these offsets mainly serves just as an image greenwashing device. Enrex, supporting the government overwatch in these matters, chooses only authority given mandates because of their regulatory and compliant nature - scams, greenwashing or double counting avoided and the acceptance of any audit organ welcomed!

The electrical energy that arrives to its intended clientele can be called ‘green’ if and only if it is certificated by an authoritative organ or its issued instrument as being ‘green’. Green energy is that electricity which is defined ‘green’ by a legal, internationally recognised issuer, not by a personal whim of some business or other.

SOMA is a FINRA-licensed and SEC-regulated multi-asset AMM and compliant token issuance platform for tokenized equities, crypto assets, STOs, and NFTs.

SOMA will consist of a multi-asset automated market maker (AMM) trading platform where users can seamlessly trade a variety of asset classes against one another, such as tokenized versions of US equities/ETFs and ETH or stablecoins using a shared liquidity pool (LP) where both retail and institutional players can partake, as well as a compliant token issuance platform that allows for Reg D/S/A+/CF launches enabling issuers to compliantly raise capital from both retail and institutional players globally.

As opposed to synthetic equities, users on SOMA actually own the underlying assets (1–1 backed). Users are also able to utilize their LP liquidity tokens to then be able to yield farm a number of different assets including stablecoins, the SOMA token, and even a mixed bag of stablecoins, tokenized securities, and SOMA.

Being able to compliantly earn yield on, trade, and take part in newly issued tokenized securities and crypto assets, SOMA.finance is the first to truly bring DeFi to TradFi across the global retail and institutional market.

1. Abstract

Glitter Finance proposes a platform that allows the redeployment of a portion of

locked tokens (collateral) on one chain into yield-generating vaults on another chain

through an

integration with the Glitter Bridge. Glitter Finance creates synthetic

versions of the

collateralized tokens on the new chain, boosting capital efficiency

and liquidity across the platform.

The initial release focuses on leveraging Algorand to Solana, Algorand to Terra,

Algorand to Polygon cross-chain bridges for the platform. All bridges will be

bidirectional. Additional bridges and chains will be added and layered on top of first

layer ones used.

2. Legal Disclaimer

The Glitter Finance Whitepaper is a technical description of the Glitter Finance

platform and in no way constitutes an offer of sale or a request for an offer to

purchase or a guarantee in any jurisdiction in which it is illegal to make such an offer.

The Glitter Finance Project is prepared to work with all jurisdictions and their

respective regulators to offer products that are in line with appropriate jurisdictional

regulators, their laws, and expectations. Further, the statements,

estimates, and

financial information contained in this document constitute information only and

not investing advice. Such information and estimates are related to known and

unknown risks and uncertainties that could cause results or events to differ

materially from the estimates or results expressed in such implied or prospective

statements.

The information contained in this document may be used in both written and

spoken

communication with existing and potential community members, partners,

etc. Over time, the content of this Whitepaper may change due to the continual

evolution of the Glitter project. The information contained in this Whitepaper may

not be exhaustive and does not imply any elements of a contractual relationship. Its

sole purpose is to provide relevant and reasonable

information to the holders of

possible, so that they can carry out a thorough analysis of the

company to acquire

their Glitter tokens.

The information contained herein may be translated into other languages or used in

communication with potential Glitter Token holders. During such translation or

editing, part of

the information contained may be edited to suit the language the

information and Whitepaper is

being translated to. Although the Glitter team will

aim to translate the information in the most

accurate way possible, the accuracy of

such alternative versions of Whitepaper cannot be guaranteed. In the event of a

conflict between the original version of Whitepaper in English and its alternative

versions in other languages, the English version of Whitepaper will be considered

the standard and official information source for the Glitter Finance Project. The

information contained herein may be subject to change due to continued

development and evolution of Glitter Finance.

3. Table of Contents

Abstract

Legal Disclaimer

Table of Contents

IntroductioZ

D Exponential Growth in Decentralized Finance (DeFi) T

D Challenges in DeFi and Proposed Glitter Solutions T

D Growth Potential

Glitter Finance: Solving Capital Inefficiency in DeFiV

D Platform Transaction Workflow

Technical Architecture For the Glitter Cross-Chain Bridg^

D Overview of the Cross-Chain Token Bridges Technology

and Consensus Mechanisms Currently in UsL

D Glitter Finance Platform Component!

D Overview of the Yield Farms Glitter Finance Will Integrate

and Other Relevant ProtocolsT

D User Flow Architecture

Revenue Model

Competition Analysis

Governance Model

Tokenomicf

D Token UtilitG

D Token Distribution T

D Token Distribution Overvie-

D Roadmap

Marketing Strategy

Glitter Finance Team

Architectural Diagrams & Roadmap

Conclusion

Reference

4. Introduction

Decentralized Finance or DeFi represents a

revolution in the traditional notion of value creation.

Instead of centralised authorities, governments, and

financial institutions defining the terms of value

creation, DeFi populates the idea of community-led

financial ecosystems under which, the participants

define the rules, partake in the maintenance and

security of the system, and the entire ecosystem

functions in a decentralised manner.

The past twelve months (August 2020 - August

2021) have been pivotal in the development and

adoption of DeFi. Between August 2020 and August

2021, the total value locked across DeFi protocols

has surged from $4.0 billion to over $85 billion,

with decentralised lending protocols and

decentralised exchanges leading the growth during

this period.

As a community-led financial landscape, DeFi

adoption has been dominated by retail users, but

that doesn’t negate the potential of institutional

adoption as more companies are adding

cryptocurrencies to the balance sheets. Some of the

major players in fintech have shown strong

inclination towards the broader crypto industry and

DeFi, with platforms, such as PayPal, Visa,

facilitating crypto purchases settlement.

At the same time, it is essential to indicate that the

DeFi industry is still in its nascent stage, with

technological and infrastructural challenges.

> High network fees, speed limitations

The current DeFi industry is massively concentrated across the Ethereum network,

with a TVL of over $85.0 billion. While using a single platform does provide

seamless connections with different protocols, Ethereum in its present state is

posing challenges to DeFi adoption.

The first and foremost concern is the high network fee or gas fee on Ethereum, which

limits the use of any DeFi platform for microtransactions. Additionally, the current

transaction throughput of the Ethereum network stands at 30, which could lead to

network congestion, as witnessed in the past. Ethereum 2.0 will address most of

these challenges, but the transition from the current mainnet to 2.0 will require more

time and resources from the foundation as well as the DeFi protocolsM

> Fragmented User Base and Liquidity Inefficiency

Currently, there are over fifteen separate Blockchain technology networks offering

DeFi products. The proliferation of DeFi solutions across multiple blockchains has

created a fragmented user base, with liquidity dispersed across these chains.

Liquidity inefficiency is another prominent challenge within the DeFi industry. There

are several reasons for this inefficiency, including the rapid launch of new protocols,

manipulation strategies to attract liquidity providers (LPs), the ripple effect of CeFi,

especially centralised exchanges, and disproportionate information distribution

channels. Another major concern over the past couple of months is security threats

and cyberattacks draining liquidity by exploiting loopholes within various protocols.

Introducing a cross-chain bridge provides an opportunity to leverage multiple

Blockchain technologies. Glitter Finance plans to create a cross-chain bridge that

integrates yield and, effectively, creates an active trading ecosystem within the

bridge itselfM

> Managing multiple farms is more costly and time consuming

Experienced yield farmers find it difficult to keep up with the continuously exploding

market opportunities in the DeFi space. This makes it more confusing for novices to

get started. Users get lots of opportunities and find it hard to manage their yield

farming across multiple platforms available.

With the use of deep neural algorithms (coming from AI and machine learning),

Glitter provides the best yield return to users, optimizing across various chains and

re-deploying lock assets making it unmatched for existing applications and help

users to get the best return on the investment8

Limited use of collateralised assets

Decentralised lending leads other segments in terms of the net total value locked

(TVL) across different DeFi products, with current market domination of nearly

50% ($41 billion out of $85 billion net TVL). Decentralised loans require the

borrower to lock collateral in a protocol and borrow a loan against these locked

funds. However, these locked funds are no longer under circulation, thereby

blocking not just liquidity but also limiting yield generation capabilities for traders.

There are some solutions leveraging this locked liquidity across various

blockchains, including Solana, however, they have received limited exposure and

constrained utility because of their current complicated UI and poor user

experience.

Glitter Finance will integrate the normally dormant and stagnant synthetic token

(wrapped token) liquidity, created by the bridge, into a yield platform integrated

with the Glitter Finance bridge.

In doing so, this will increase the collateralized assets available across various

blockchains8

Banking the Unbanked and Removing Barriers to Investment

Even in the DeFi sector, in many platforms the threshold to invest remains too high

for many of the world’s population. At Glitter Finance, we feel the DeFi represents a

fundamental democratization of money, and in fact, is the first, major development

of the monetary system in decades. The major innovation of the sector is that

anyone, in any place, and at any time can create money for themselves. All one

needs is an internet connection and some basic knowledge of how a DeFi platform

works, and a person, regardless of their socio-economic background, can

potentially achieve solid economic lifestyle sustainability.

To champion this aspect of the DeFi innovation, we are introducing a low

investment threshold which will open the door to smaller investors around the

world. Moreover, we are innovating our technology to create the Glitter Finance

Vault Pool, which will leverage pooled funds to allow for smaller investors to enter

the fray.

5. Glitter Finance: Solving

Capital Inefficiency in

DeFi

Why Solana?

As stated previously Ethereum gas prices have surged over the last year. Further,

the immense amount of dApps built on the network has congested the Ethereum

network. These limitations have opened an opportunity for newer blockchain

technological providers to enter the fray. One of the most promising blockchain

networks to date has been Solana.

Solana features unique advantages over its competitors. These advantages include:

M

( The Solana blockchain can handle 65,000 transactions per second (compared to

30 by Ethereum). This shows an immense scalability potential compared to its

competitors.M

( The current gas fees on Solana cost between $0.00025 and 0.0001 per

transaction (compare this to $10-65 on Ethereum, depending on network

congestion).M

( The Solana ecosystem has experienced rapid growth since August of

2021.The

current TVL amount for the ecosystem is $3.5 billion.M

( Solana has proven it’s interoperable with the successful launch of the Wormhole

cross-chain bridge. The bridge has successfully connected the ecosystem to the

Ethereum ecosystem.

The overall rapid growth of the Solana ecosystem, along with the highly-scalable

technology and inexpensive gas fees, makes Solana an ideal ecosystem to base an

interoperable, DeFi platform from. Glitter Finance will combine these advantages

with EVM-compatible chains, creating a streamlined, well integrated, and seamless

DeFi ecosystem. Glitter Finance will thus become an ideal meeting place for the

traders of multiple blockchain ecosystems.

D Algorand

Algorand is a blockchain and cryptocurrency platform

whose aim is to be highly scalable, carbon neutral, and

with enterprise-level security. Algorand features low gas

fees as well as 1,000 transactions per second. These

qualities allow Algorand to be a preferred choice for

enterprise-level, blockchain-based solutions. Working

with Algorand will allow Glitter Finance to incorporate

enterprise-level, blockchain technology (including

security) into our platform. We will also be able to utilize

Algorand’s technology to be carbon neutral, and to have

very low gas fees for our traders./

D Terra

Terra is a trustless and permissionless layer 1, which was

developed off of the Cosmos blockchain technology. It is

also a payments-based financial ecosystem. The Terra

ecosystem is known for offering multiple, fiat-based

stablecoins. It is also known for having one of the most

sophisticated ecosystems for trading synthetic

(derivative) versions of stocks, through its Mirror Protocol.

Incorporating Terra into the Glitter Finance ecosystem will

allow the Glitter team to incorporate and meld together the

assets available in the crypto world with the synthetic

products available via the Terra ecosystem

D Polygon

Polygon is an EVM-supported blockchain provider with

advanced sidechain technology. This means it will give the

Glitter Finance Platform an efficient way to communicate

and work with the Ethereum infrastructure and network.

Building with Polygon has several advantages:/

Lower gas fees than the Ethereum network./

Less network congestion and therefore higher speeds./

High interoperability and scalability capacity due to

advanced sidechain technology.

Glitter Finance Platform Vision

Glitter Finance proposes a platform that eradicates the current capital inefficiency

in DeFi. The operating principle of Glitter Finance involves leveraging the current

cross-chain bridges and their locked TVL to synthesise tokens on a new chain and

use a portion of the locked TVL on these cross-chain bridges across yield-

generating vaults. Glitter Finance plans to implement its own, cross-chain bridge

solution as the underlying platform for the yield integration

: Features of Glitter Bridg&

Create a cross-chain bridge between Algorand, Solana, Polygon, and Terra

blockchains to create an easy way for traders of all ecosystems to use the DeFi

economic advancements.=

Integrate yield into the bridge to solve capital inefficiencies and to create a

connected ecosystem for all traders and community participants.=

Create a cross-chain bridge with multiple chains to solve fragmentation.=

Yield integration will foster the creation of a true meeting place for people of

disparate blockchain communities

Yield will serve as an incentive for traders from the Solana, Algorand, Terra,

Cudos, and Polygon DeFi ecosystems to venture into the ecosystem of partner

blockchains within the bridge

Create intuitive design for the platform to foster adoption and pull in new

users.=

Use Blockchain technology like Polygon to foster exceptionally low gas fees.=

Leverage Solana technology to have a carbon neutral ecosystem.

Glitter Finance is a cross-chain bridge with integrated yield pools. Synthetic (or wrapped) tokens created by the bridge are integrated into the yield pools, giving traders a chance to create a profit while using the cross-chain bridge ecosystem. Glitter also aims to create a ‘one click’ platform by combining AI and machine learning into the platform. This system is called the Deep Learning Neural Network. As a grant recipient from the Algorand Foundation, Glitter Finance will focus on bringing interoperability to the Algorand ecosystem, by bridging Algorand with such blockchains as: Solana, Polygon, and Terra. The bridge will be bidirectional.

Meeting the need for inter-blockchain transfer of assets, the barriers in experiencing full financial utility in Blockchain through DeFi is eliminated with the highly needed bridging solution and application Glitter has brought. Glitter is at the forefront of making DeFi attain full financial efficiency using the most scalable technologies.

Glitter is a brand changing innovator bridge that brings the everyday user into the crypto world seamlessly.

We smooth the way through current technical and psychological barriers by providing user-friendly, streamlined architecture so that everyone in the world can feel good investing and surfing the crypto wave.

Dfyn.network is a community-governed DeFi project that offers a low-fee AMM exchange along with yield farming opportunities. It combines the unmatched liquidity of Ethereum with the scalability of L2 platforms. Dfyn will also work on providing a comprehensive platform for social tokens and NFTs. We are launching with the Matic platform, in the first instance.

As we have seen from the recent spike in Ethereum network gas costs, L2 efforts are critical to DeFi and Ethereum achieving their full potential. Ethereum network throughputs are woefully inadequate, and while there are Ethereum competitors trying to reinvent a universal ‘smart computer’, the odds of an L2 platform becoming the more likely adopted path going ahead are significantly higher than one of the Ethereum competitors displacing Ethereum. We are bullish on Matic, and its potential to be a leading contender as the mainstream L2 variant for the Ethereum ecosystem.

However, Dfyn wants to remain chain agnostic and support all great L2 scaling solutions using Polkadot as a middle layer.

Spherium Finance offers a complete suite of financial services: a universal wallet, token swap platform, money markets, and inter-blockchain liquidity transfer. In addition, this platform will function as a global financial service provider, extending fundamental financial services to the unbanked population.

Their cross-chain DEX Hyperswap will enable users to swap tokens in a robust multi-chain through their uber-cool web and mobile app interface, integrating an even deeper layer of DeFi solutions such as Staking, Yield farming, and Dual Farming, Lending, and Borrowing extending the footsteps of the biggest cross-chain community.

Spherium’s mission is to provide a transparent, decentralized, non-custodial, and user-friendly one-stop platform for all segments of the Financial system, empowering average users to avail the best products and services in the De-Fi space to maximize their investment/loans returns with minimal efforts. Spherium offers a collection of DeFi services including a universally usable wallet, token swap platform, money markets, and inter-Blockchain liquidity transfer, which will further be enriched by integrating new innovative services developed by the Spherium team in the near future. From a broader perspective, Spherium, can function as a banking and investment solution for the 1.7 billion global unbanked population. Further, through our emphasis on connecting the world through our financial solutions, we are planning to implement other innovative features in the DeFi-Blockchain space, which are not available in legacy financial systems.