AllianceBlock’s LMaaS 2.1: Laying Foundations for SDK, Integration with DEX and More

At the start of 2020, we had just successfully extended our liquidity mining and single-sided Staking program to the Binance Smart Chain. This unlocked campaigns on three DEXes and two major networks for ALBT token holders. We saw that what we had created worked great for our community and the project, so we decided to develop it as a service for other DeFi projects to benefit from.

This resulted in the launch of Liquidity Mining as a Service (or LMaaS) as the prime feature of our DeFi Terminal platform. LMaaS helps DeFi projects increase the liquidity of their token, better engage with their community and increase the project’s TVL (Total Value Locked). And the best part? It does so in a way that requires no coding effort, no smart contract knowledge, or any other expertise — projects can simply deploy their campaigns with ease.

After several months of development, it was time to test our solution with our first client: Dafi Protocol. They launched with a liquidity mining pool on Ethereum and soon after one together with us: a partner pool of DAFI/ALBT that gave out both tokens as rewards to users providing liquidity. This immediately showed the flexibility that LMaaS provided to DeFi projects and how easy it is to launch joint campaigns with the tools provided.

Following Dafi, dozens more clients followed soon after, most returning to extend their campaigns, both staking and liquidity mining and on multiple networks. For example, Polkalokr has deployed campaigns on Ethereum and Binance Smart Chain – they’re also about to launch one on Polygon! The total TVL of all LMaaS campaigns has reached 60.000.000 USD in 2021 — all within half a year since the product’s launch.

Learning about the future potential of LMaaS from our current clients

In the first year of the existence of LMaaS, we were able to gather crucial insights about how our clients use our solution and, therefore, how we should develop it further. For example, project launchpads see LMaaS as a perfect extension of their services to the projects they launch (for example, through IDOs). Imagine a project launching through an IDO accompanied by an LMaaS campaign to cater to their early participants and ensure that large selloffs, as well as high volatility, are avoided. Gathering this kind of feedback gives us key insight at which stage of a project’s lifecycle we can provide liquidity generation solutions using LMaaS.

Development of a brand new LMaaS will be done in phases

Taking the insights like above and many more into consideration, we are currently reworking the engine behind LMaaS: the structure, the backend, and the contracts themselves. This is a big overhaul, so we plan to complete it in phases. Recently, we have deployed a new backend as version 2.1, completely rewritten with a client structure that is future-proof and sets us up for adding upcoming releases. This was a major operation, as it involved not only upgrading four different applications at the same time but also involved migrating all the current data to a new format. The LMaaS product team executed this upgrade and migration flawlessly.

Here’s a quick overview of the planned upgrade phases:

• V2.1 (completed): new backend and structure
• V2.2 (ongoing): new contracts
• V2.3 (not yet started): SDKs for easy integration in other projects
• V3.0 (not yet started): integration of multiple products in LMaaS, LMaaS in multiple products (inside and outside of the AllianceBlock ecosystem).

The v2.2 is on its way and most of the contract work is already done. We are working on the last details, having 100% test coverage before we start the audit and integration process. With the new contracts, projects will not have to deploy factories anymore, saving huge amounts of gas fees and enabling larger flexibility with deploying campaigns when new features will be released in the future. They will also be able to schedule their campaigns in the future as opposed to launching one immediately after the setup — this gives our clients greater control of the marketing opportunities for a project of each campaign.

Part of the release of v2.3 goes hand in hand with v2.2., with all our JavaScript wrapping code we’ve written for the contracts converted to SDKs, we can bring LMaaS functionality to other products, even outside of AllianceBlock’s product offering. LMaaS v3.0 will see full cross-product integration with SDKs available across all our products.

LMaaS 2.1 upgrade lowers the barrier for onboarding new projects and launchpads

The approach of this upgrade was too cater to clients’ needs and thus lower the barrier for entry for new clients, especially for smaller projects. It also allows launchpads to more easily integrate LMaaS for the projects they launch and gives more flexibility for extending existing campaigns or launching new ones, even promotional ones (for example, with partner projects). This will drastically increase the number of available campaigns with interesting yields and new token combinations for our community to choose from.

More campaigns on LMaaS means more utility for ALBT

In the beginning, we asked each project to create a liquidity pool with their token and ALBT on Uniswap and lock this liquidity for six months. Going forward, each project will need to pay in ALBT in order to gain access to LMaaS. Lack of payment does not result in end-users losing access to this project’s LMaaS portal. Just the projects lose access to certain features, including the ability to further extend the pool or view advanced metrics. Furthermore, we will start introducing premium features to projects which can be unlocked after the payment of additional ALBT. Large parts of this revenue go back into AllianceBlock’s Liquidity Mining and Single Sided Staking Campaigns, ensuring the long-term viability of our own campaigns.

Upcoming LMaaS integration with DEX, Bridge and partner products

LMaaS is not meant as just a stand-alone product. In Q1 2022, we will have support for our DEX that was recently released on Testnet, as well as a number of partner protocols and DEXes. For now, we will focus on EVM-compatible protocols such as Ethereum, BSC, Avalanche, or Polygon, but we will also extend LMaaS to non-EVM-compatible networks in the future. Seamless integration with the AllianceBlock Bridge is also on the horizon. There, we will work towards a next-level user experience where network switching time is reduced to a minimum and other wallet options will be integrated as well. But that’s not all — LMaaS will also be able to integrate with other projects’ products. In one of the next phases of the upgrade mentioned above, an SDK will be made available so that all LMaaS functionality can be easily ported to other projects’ own products, like DEXes, launchpads, aggregators and more.

Safe to say, we are incredibly proud of the continued success of our liquidity mining and staking solution in 2021. We’re even more excited for what’s next and what positive effect 2022’s LMaaS will bring to AllianceBlock, our community, the ALBT token and the wider DeFi industry.

About AllianceBlock

AllianceBlock is bridging the gap between decentralized and traditional finance by remedying issues in both spheres and linking them more closely together. They see the future of finance as an integrated system in which the best of both worlds can work together to increase capital flows and technological innovation.

They are building this future by bridging traditional finance with compliant, data-driven access to new decentralized markets, DeFi projects and ecosystem-scaling tools such as funding and interoperability. As such, they are building a next-generation financial infrastructure that aims to provide regulated financial entities worldwide with the tools they need to access the DeFi space seamlessly.

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