Composable Finance continues the development of Angular Finance as the JV partnership with HydraDX comes to a mutual end.
Angular Finance, an isolated lending pair protocol, is now solely under the development and leadership of Composable Finance. HydraDX and their development house, Galactic Council, have exited the partnership after mutual agreement, in order to pursue different visions. Both teams remain optimistic about the future of this space, specifically the Dotsama ecosystem. Composable Finance and HydraDX will both continue to create versatile DeFi solutions.
Announced in mid-September 2021, the partnership aimed to create a novel DeFi solution that would strengthen the Dotsama ecosystem. The decision to work independently was mutually initiated. Both teams have a shared interest in further strengthening the Dotsama space and are open to future collaboration when presented with an opportunity to create necessary impact in DotSama’s ecosystem.
What is Angular
Angular Finance is an isolated lending pair protocol housed as a pallet on Picasso. Angular, built on Substrate, is designed to unlock opportunities for liquidity providers (LPs) that have not been available to LPs in the Dotsama ecosystem, until now. Angular will be deployed on Picasso, granting the Kusama community access to isolated lending pairs through the Picasso Parachain.
Angular Finance will initially launch with its Isolated Lending Pair solution. Isolated Lending Pairs allow any user to pair any asset to unlock novel LP opportunities with the added benefit of isolated risk. As a primitive, Angular aims to be a building block pallet in Dotsama, allowing other pallet developers to build atop it enabling it to evolve into a leverage as a service tool for other protocols and providing a base for additional tertiary products in the Dotsama ecosystem.
Composable Finance Statement
At Composable, we remain relentlessly committed to the growth of the ecosystem. Our focus is building primitive protocols that are needed to solve current problems, such as Angular Finance, to support the fast-moving and creative spirit of the Kusama ecosystem. We continue to enable developers to build on the Picasso parachain to create optimized applications using other pallets such as Angular, Apollo, and Cubic as building blocks while feeding off other natively interoperable substrate pallets. In addition, these projects and pallets have the opportunity to graduate to our newly acquired Composable Polkadot Parachain by governance vote.
We appreciate the team at HydraDX and wish them the best on their venture as we are both working towards a shared vision of value contribution to the Dotsama ecosystem. Our Head of Product, 0xbrainjar, has expressed that we are open to future collaboration with HydraDX in order to achieve our shared vision for a better future in the Dotsama ecosystem.
The HydraDX team appreciates the pleasant albeit short collaboration with Composable, which we believe provided a valuable learning experience for both teams. We embrace the decision to split ways in the Angular JV as the only feasible approach which would allow both teams to fully realize their own product visions.
The focus of the HydraDX team remains directed towards solving the liquidity fragmentation problem by deploying carefully engineered products that have been validated by cutting-edge research. This vision of the team is embodied in their pilot product, the Omnipool — a single liquidity pool which allows users to provide liquidity for, and trade a multitude of assets (“an ocean of liquidity”). The Omnipool is the culmination of months of research and simulations conducted by a team of researchers with diverse backgrounds. The insights gained during this period are now guiding a team of engineers who are fully dedicated to building the product.
We wish the Composable and Angular teams smooth sailing in the waters ahead, and we always remain open to future integrations or other forms of collaboration which will strengthen the Kusama and Polkadot ecosystems.
The Future of Angular Finance
We are excited to move forward with Angular Finance to address the core challenges this protocol solves. Composable Finance is taking full charge in developing and deploying the isolated lending pair protocol on Picasso, while HydraDX will continue its efforts in DeFi innovation independently. Both teams find this solution mutually beneficial as each can continue to focus on their visions fully.
For more information about Composable and how it is architecting the unified DeFi landscape of the future, check out our socials: