Our team at OAK Network is incredibly excited to show off the cross-chain message passing (XCMP/HRMP) capabilities of the Turing Network in partnership with Mangata to offer auto-compounding of liquidity pool rewards on the MangataX decentralized exchange!
OAK Network and Mangata are proud to be pioneering parachain cross-chain functionality for the Kusama and Polkadot ecosystems.
Introduction
After the $TUR successful bootstrap on the MangataX DEX the Turing Network is now offering technical functionality to auto-compound liquidity rewards for MGX liquidity pairs including $TUR:$MGX. The auto-compounding partnership between Turing and MangataX was established through the creation of key infrastructure to allow XCMP calls across parachains to schedule future transactions — firstly it will be used to auto-compound MGX liquidity pools but the infrastructure can still be used for even more advanced and complex actions.
The auto-compounding function utilizes the XCM compoundRewards call to schedule a future event on the Turing Network parachain which triggers an action on the MangataX parachain — by using the XCM protocol all user funds are secure and the action is completely non-custodial. The OAK team believes this is an impressive demonstration of the the key advantages for parachains on Polkadot and Kusama and the potential for XCM.
Check out the Mangata exchange here — https://x.mangata.finance/
Using Auto-Compounding
The auto-compounding functionality allows developers to use Polkadot.js to set up automatic claiming of liquidity pool rewards on MangataX and then automatically add the claimed rewards into a liquidity pool. Individuals may set their own percentage threshold and use the schedule parameter to choose to execute tasks at fixed times or recurring. Combining these actions creates a variety of use cases that we are excited to see how our communities utilize.
Our team has put together a technical demo to explain the process for developers that want to use the auto-compounding functions. Check our out the OAK Network documentation page for more information. For less technical users we will be announcing a new partnership to create a rewards dashboard, so that anyone can easily set up auto-compounding liquidity pool rewards.
Live Technical Demo — OAK YouTube
The Future
OAK Network is happy to be collaborating closely with Mangata to offer innovative new functionality to the ecosystem. MangataX continues to create more liquidity pairs, such as their recent listing of ZLK, and our team is excited to create auto-compounding for more parachain tokens.
Outside of MangataX the Turing Network & OAK Network is working to create automation and auto-compounding for other platforms and exchanges across Kusama & Polkadot.
About Ava Protocol
Ava Protocol is an intent-based Eigenlayer AVS that seamlessly enables private autonomous transactions for numerous use cases, such as DeFi, NFTs, and games. We're enhancing decentralized applications with scheduled and recurring payments, stop-loss orders, streaming rewards, and more. Ava Protocol’s event-driven execution model triggers cross-chain transactions based on signals such as time, price changes, and smart contract updates. Developers can easily schedule and automate functions across different blockchains, including Ethereum, ensuring efficient and reliable execution without compromising privacy.
About Ava Protocol
Ava Protocol is an intent-based infrastructure that empowers private autonomous transactions for Ethereum and beyond.
