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Governance and Cross-Module Contracts
Core Module Contracts
Borrowing Module Contracts
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Introduction
Angle is a decentralized, capital efficient and over-collateralized stablecoin protocol. Get to know how it works under the hood!
Welcome to Angle Developers Guide ⚒️! The goal of this guide is to help developers understand how Angle protocol works under the hood and how to build on top of it.
In this documentation you'll find details about:
- The different smart contracts at stake in the Angle Protocol
- Tools you can use to easily build on Angle (SDK, API, ...)
If there are questions which are not well answered by this guide, if you see elements which are no longer up-to-date or if you need extra development support, please do not hesitate to join the #developers🛠 channel on our Angle community Discord server 🕹️.
🏅 Introduction to Angle
Angle is a decentralized, capital efficient and over-collateralized stablecoin protocol composed of smart contracts mostly deployed on the Ethereum blockchain. The protocol was launched in November 2021 and you can start using it at app.angle.money.
It can be used to issue stablecoins, called agTokens, that are pegged to a specific value. This means that these tokens are designed to mirror the value of the asset they are pegged to.
Angle has started with agEUR, a Euro (EUR - €) stablecoin on Ethereum mainnet.
On top of its stablecoin product, Angle protocol also offers to its users ways to:
- Trade perpetual futures
- Earn yield from strategies
- Get leverage on a wide range of assets
The protocol consists of several different modules, or set of smart contracts, from which agTokens can be issued or minted. While Angle was launched with a single minting module (the Core module), a Borrowing module allowing to borrow Angle stablecoins against deposited collateral has then been introduced.
The protocol is also engaged into Algorithmic Market Operations (AMOs) where agTokens are invested in protocols for Angle to get a yield on.
Core module
Angle Core module relies on three types of agents, that form a balanced ecosystem maintaining agTokens' peg (or stability). These agents are users minting and burning the stablecoins, Hedging Agents covering the protocol collateral from price changes, and Standard Liquidity Providers helping to over-collateralize the protocol in exchange for yield.
Borrowing module
The Borrowing module of the protocol allows users to deposit collateral and borrow agTokens (debt) against this collateral. It is designed to enable getting leverage on almost any asset through an agToken loan, or to simply let people get access to stablecoins while keeping their exposure to a volatile asset or to a yield-bearing token.
Inspired from more traditional borrowing protocols (like Maker, Abracadabra, Liquity, Aave, Compound, ...), it comes with its set of new features and improvements which make it efficient. Among other things:
- All operations are designed to be capital efficient
- The borrowing experience is optimized with notably an improved liquidation engine which allows liquidated addresses to face minimal losses compared with what they can experience in more traditional models.
Other Aspects
Angle is not limited to these key components. It is notably involved in algorithmic market operations where agTokens are invested directly by Angle in other protocols.
🛣️ Roadmap
Beyond creating the first liquid and decentralized Euro stablecoin on Ethereum, the main goal of Angle is to create a money layer for DeFi. Angle will not only expand to multiple blockchains or open networks, it will also seek to launch stablecoins for other types of assets.
Last modified 22d ago