Introducing Ally
Last updated
Last updated
We spent two years developing Via Protocol, a cross-chain aggregator that helps users find the best ways to trade and transfer tokens across chains and protocols in the DeFi world. After many nights of hard work and long discussions, we had a finished product, which gained some good traction and, among other achievements, ranked second in the Web3 product of the year in the Golden Kitty Award 2022 by Product Hunt.
Over time, however, we observed a significant decrease in aggregator usage across the DeFi space.
Aggregators like Via or 1inch display the best ways to swap or bridge tokens, and perform such actions on users’ behalf, all from one interface. While saving users’ time, many found that a better way was to check the best swapping routes on aggregators but then complete the actual swaps on DEXs and bridges directly, as this could save gas fees and reduce risks related to aggregators’ proxy contracts. On top of this, the ongoing bear market has progressively reduced the number of DEXs and bridges in use, making aggregators less relevant.
All this got us thinking about which product could best serve users’ interests.
In addition to the product type, we also carefully considered monetization strategies and the protocol’s sustainability. When developing the Via Protocol, we faced a dilemma: offer it for free and generate no income, or introduce additional steps and costs that would make the protocol sustainable but also deter some users.
What if we could have the best of both worlds? What if we could give users a great tool without hidden fees and still find a way to generate revenue?
Our solution to these two challenges was the creation of Ally, an innovative protocol shaped around three main pillars:
Enhancing the User Experience: Providing a superior and fee-free token exchange service, setting a new industry standard.
Monetization Without Fees: Finding sustainable revenue sources without charging users and sharing this revenue stream with them.
Unifying with the Ally Token: Introducing a native token with true utility, sustained by a tangible revenue stream and generating real yields, eventually binding all elements together and propelling the Ally ecosystem forward.
Let's dive into that.
