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What is Shell Protocol? In-depth Analysis of Shell Protocol & SHELL Token

I. What is Shell Protocol?

Shell Protocol is built on Arbitrum, inheriting the competition from this Layer 2 transaction speed and price plus the security from the parent chain – Ethereum. The orientation of the Project is to create a platform with tools such as liquidity production, multi-Project Swap Token to become a DeFi Hub for both of you with strong forces.

II. How does Shell Protocol work?

Currently, each Liquidity Pool, Token, and Building owns different accounting systems and operating mechanisms. The movement of information and assets between systems requires a lot of steps plus a small amount of negotiation fee. This creates many barriers for retail speculators as well as development teams.

(cre ảnh: Current barriers of DeFi projects)

Shell Protocol’s solution is called Shell V2, using an open source ERC-1155 (Multi-Token Smart Contract) innovative contract to simplify asset movement and linkage between Projects.

This is done by wrapping your assets such as USDC, DAI, ETH into Shell Wrapped Tokens respectively shUSDC, shDAI, shETH and these shTokens can be used in any DeFi platform. support.

Speculators or ranks can deploy assets and build Works on the platform. This means that Shell Protocol will increase the expansion of the network, the larger the network, the stronger the foundation.

(cre ảnh: The operating model Shell Protocol is aiming for)

Shell Protocol will also function like an isolated AMM but the liquidity system will be optimized and expanded thanks to the network of Works deployed.

(cre ảnh: Providing liquidity will be a function to be launched in the near future)

The force also shared that the platform saves about 40 times standard gas fees compared to Ethereum, but this has not been certified by either party.

III. Shell Protocol’s Potential

According to L2Beat, Arbitrum is Ethereum’s Layer 2 with the largest TVL volume of nearly $2.6 billion, far ahead of the rest. Arbitrum’s strengths are currently most obvious in the low transaction costs but high transaction speeds, suitable for building DeFi tools on it.

Shell Protocol is one of the projects that has the potential to become one of the places to attract the most money in the ecosystem by solving problems such as:

  • Multi Projects Liquidity
  • Swap multiple tokens in just one transaction (Multi Token Swap)
  • Low Transaction Cost

Recently, on the official twitter page of Arbitrum, there was a tweet congratulating ShellV2 on successful deployment. Perhaps the team has also considered the weakness of the platform that has to rely on a network to combine projects, so the first steps are very reasonable.

 

IV. Where can SHELL Token information be updated?

Currently, Crypto users can fully consult, research, and analyze information about Shell Protocol through famous media newspapers such as Nasdaq, Bloomberg, Forbes, AP News, Yahoo!Finance, CoinTelegraph, Coindesk, etc.

These media are constantly updated with useful information, new activities, outstanding events of Shell Protocol and all the topics surrounding it. Accordingly, Meta Lion Ventures continuously updates the topic of outstanding projects in Blockchain and hot events organized between Meta Lion & partners.

Conclusion

Above is information about Shell Protocol, because the project has just completed the testnet recently, the tools are still very limited and incomplete. Investors can continue to monitor the project and look for opportunities to participate early to make profits.

The above is Meta Lion’s comment on the Shell Protocol project which is our personal opinion, this is not investment advice at all. Investors should be responsible for their own decisions. 

 

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