AppIC
Hello everyone, we’re thrilled to announce that Auto invest solution(DCA) on AppIC is live, Auto Invest positions can be created by heading over to app.appic.solutions
Project highlights
AppIC is offering Auto Invest on ICP that allows users to automate their trading (buy and sell) of tokens on ICRC standard such as ckBTC, ckETH and ckERC20 on a regular interval such as daily, weekly or monthly (soon all token standards on ICP will be supported).
Before diving into our auto-invest project, we observed DFINITY’s integration of tokens from the Ethereum blockchain and the successful implementation of Bitcoin through chain key technology. After realizing that users could benefit greatly from lower gas fees associated with these “chain key” tokens provided by DFINITY, as opposed to their twins on their native chains, we decided to offer this solution on the Internet Computer, as it offers a more cost-effective approach for users to buy and sell tokens regularly. For instance, purchasing real Ethereum or Bitcoin frequently would incur substantial fees, whereas using ckBTC or ckETH, would result in negligible transaction costs, often just a few cents. This approach is faster, cheaper and more secure as it’s decentralised and 100% on chain.
Web3 advantages
AppIC’s entire infrastructure operates on-chain, with even the frontend deployed on the Internet Computer (ICP). The cron job for monitoring positions at regular intervals is developed using canister timers, highlighting the app’s complete decentralization as well as addressing various security concerns inherent in traditional centralized systems.
How is it built
.svg?raw=true)
The project was developed using Motoko programming language, allowing the dapp to make canister calls to transfer tokens from users wallet to dex and vise versa as well as calls to DEXs for swapping. AppIC’s integration with a range of wallets on IC, including Internet Identity, Plug Wallet, Stoic Wallet, Bitfinity Wallet, and Astrox, offers users the flexibility to choose their preferred wallet, ensuring a seamless and user-friendly experience.
Internet Computer superpowers
AppIC’s complete on-chain deployment, from backend canisters to timers, and frontend, is made possible by the Internet Computer, significantly enhancing security and eliminating reliance on centralized hosting providers. Moreover, leveraging the Internet Computer enables us to utilize ckERC20 tokens and ckBTC for more cost-effective and efficient transactions compared to their counterparts on native chains.
Go-To-Market strategy
-
Appic is fully developed, and deployed on ICP including the front and back end. Our team and project resources are completely dedicated to supporting the ICP ecosystem.
-
We will deploy a comprehensive marketing and PR strategy to raise awareness about Appic. We plan to engage with the ICP community through social media, Dfinity forums, and ICP hub events.
-
We are actively engaging with other projects such as DEXs and Dapps within the ICP ecosystem to form strategic partnerships.
-
The launch of our auto invest feature is part of our long term plan and the first phase of the project with a focus on user experience and security. We plan to gather feedback from ICP users and iterate on our product to improve functionality and address any issues.
Monetization
-
Yes, Appic is built for profit while keeping the community and sustainability as our focus.
-
Our plan is to eventually monetize the project with the transaction fee and tokenization of our governance model.
-
Engagement with the community through Token Distribution: We have a plan for a fair and transparent token distribution through SNS and decentralizing the governance to incentivize early adopters and align interests with the long-term success of the project.
Status of the project
Our app is ready and running smoothly. As of now, we don’t have usage metrics available since we’ve just released it. The current version offers pairs between ICP, ckBTC, and ckETH. However, we’re planning to add a lot more tokens soon to broaden the platform’s utility and appeal to users.
Resources
Application
Github
X(Twitter)
Youtube
Future Plans
One glaring gap we observed was the limited availability and liquidity of tokens on ICP. Recognizing the potential for growth and expansion, we set out to address this challenge by exploring solutions such as ckETH and chain fusion within the ICP ecosystem.
Our vision expanded beyond simply increasing the number of tokens available on the ICP chain. We saw an opportunity to leverage chain fusion to bring tokens from other chains onto the ICP platform and facilitate seamless cross-chain swaps. With the ability to make HTTPS outcalls on ICP, we envisioned ICP becoming an intermediary layer for the migration of tokens between different blockchain networks, for instance swapping Matic (Polygon chain) to ckBTC (ICP chain) using ICP as the decentralized settlement terminal.
Looking towards the future, our goal is to continue increasing the diversity and liquidity of tokens available on the ICP platform and to offer decentralized solutions for portfolio management. To achieve this, we plan to build a “AppIC DeFi” offering Multiswap, Auto investment, Cross-chain transactions and several other unique features that allow users to manage their portfolios with ease leveraging the security and efficiency of ICP.