ALS token deposit

Compass

Introducing Compass

Compass is the name of the interface and system that enables users to deposit their tokens and track their earnings.

Overview

Compass allows users to deposit ALS tokens into secure smart-contract vaults that interact with multiple yield-earning protocols. These smart-contract controlled vaults operate under certain conditions for interacting with different DeFi protocols. Assets can only be moved according to the rules encoded in the smart contract. This means neither Alchemis nor users have a direct access to the assets, ensuring maximal security. It operates only according to the encoded parameters.

Token deposit

When users deposit ALS tokens into Compass, they are assigned to a personalized vault. This vault is governed by smart-contract rules that handle various interactions with different protocols according to the previously stated preferences of each user.

Non-tradable receipt tokens

After making a deposit, users are receive non-tradable tokens (vALS). These tokens:

• Represent the user’s ownership and share of the vault, they act as a sort or receipt.

• Are non-tradable and non-transferable, meaning they cannot be sold or exchanged.

• Can only be used to redeem the original deposit and accumulated yield from the vault, and are in term burnt.

Earnings tracking

Compass calculates each user’s earnings based on the performance of their individualized strategy. This means that Compass offers users a dashboard that displays how much they have earned since the original deposit. This enables users to track their investment.