ARIA token (ARIA20) is a utility token of the Arianee platform that was released in November 2020. The token created on the basis of Ethereum is governed by the Arianee protocol.
Arianee presents an NFT platform that was created to serve the needs of the fashion and luxury industry. The platform tries to establish the digital identities for the items of these industries so that its representatives could deliver a more extensive and versatile service for its customers.
Since there is no standardized process for the creation of permanent, authentic and secure digital certificates for valuable products, the developers of the Arianee protocol have decided to solve this problem. The certificates developed by them help to solve many problems including counterfeiting which brings huge losses annually. For instance, in 2018, the losses of the luxury industry exceeded 30 billion USD because of this issue.
The creation of certificates helps to connect brands and customers via a secure communication channel. With its help, companies don’t lose track of their products even when different distribution channels are involved or the product is resold. The mission of the platform is to offer developers a framework for the development of corresponding applications. In this way, developers can focus on the app layer and come up with their integrated solutions on the basis of standardized certificates.
The top priority of the company is the promotion and development of the Arianee protocol, which is needed to develop and manage NFTs (non-fungible tokens) compliant with the ERC-721 standard. Each real-life product is unique and features metadata that makes it distinctive from the others. The storage of metadata on a distributed ledger protects the product and its ownership. The Arianee platform presents a collaborative, unbiased association promoting the guidelines and instruments, which were ultimately collected in the Arianee protocol, for the establishment of a global standard for the digital certification of diverse valuable products.
The project itself is an independent decentralized association that is governed jointly by the participants of the ecosystem and founders who established it. The rights of participants who represent either partners or brands are equal. With tons of experience in the industry, they try to implement their ideas and views in the standard developed by the platform.
With NFT products, it becomes easier for brands to resell them, to deliver insurance almost instantly, and make them portable in the metaverse. As the resource provides the property of true ownership for proprietors, the brands and creators of such products feel more confident, competitive, and independent.
Arianee protocol is an open-source code that is accessible for everyone so any developer can audit the code or contribute to the development of the protocol. Thanks to the distributed architecture of blockchain, it is possible to attain higher uptime of the platform. The character of the code makes it also censorship-resistant.
Employing the Arianee protocol, users get the opportunity to create a library for the management of certificates, so it’s possible to create a certificate and transfer it from one owner to another. Arianee enables proving your ownership and authenticity of the product. Also, certificates enable the interaction between brands and third parties by recording the history of products. Additionally, there is an Event feature that is used to enrich the certificate. The ARIA20 tokens are used to pay for all these features as they were developed to make the system work. Layer2 enables the capabilities of Ethereum at a lower cost, so the team has chosen this solution to decrease the transaction costs.
In March, the platform launched its liquidity farming program to allow liquidity providers to farm tokens with APY that varies from 100 to 400%. This step contributed to the increase of liquidity.
The facility decided to focus on decentralization making it the key element of the company's mission. Therefore, the utility token ARIA20 was launched on different DeFi exchanges. The amount of liquidity accumulated on Uniswap and Quickswap has exceeded a million dollars.
ARIA20 was listed on Uniswap in November 2020. In January 2021, the token was listed on Sushiswap and Balancer. The listing on popular DEX platforms has helped to increase the liquidity of the token. After that, the token was listed on CoinMarketcap and Coingecko after careful examination of the asset by the research teams of these platforms.
The decision to list the token on layer 2 was taken after the incredible increase of gas costs on Ethereum. To resolve this problem, a good DEX option was needed, and the company has chosen Polygon also known as Matic and Quickswap which is a fork of Uniswap with a rather decentralized consensus mechanism. The difference between swap costs was significant. Sometimes it exceeded 40 USD on Uniswap, while it was enough to pay 0.01 USD per swap using new solutions.
Polygon was chosen for its bridge enabling compatibility between ERC20, ERC721, and ERC1155 standards. The platform can boast of a high liquidity level. Also, the fact of integration with Transak was taken into consideration as it allows the purchase of cryptocurrencies from a bank account right within Quickswap.
In March 2020, the platform Arianee closed a fundraising round, during which it managed to gather 8 million EUR. The financing round was led by such venture investors as BPI and ISAI.
The tokens are distributed among stakeholders to urge them to participate in the program. The largest portion (40%) is allocated to the Arianee project. The providers of the Certificate Platform Manager and Wallet get 20% each, while Nodes get 10%, as well as Owners.
The CEO of the project is Pierre-Nicolas Hurstel who founded ReMode and co-founded the strategy consulting Blue Change. Julien Romanetto is the Chief Innovation Officer of the facility. He is a serial entrepreneur who also worked with such projects as Overblog, Teads, Secret Media, and CryptoFarm. The CTO Alexandre Cognard is also a serial entrepreneur who worked with different e-commerce companies and was CTO at Vestiaire Collective.