The mainnet launch comes simply weeks after MonoX raised $5 million to disrupt conventional DEXs and remove inefficiencies from the DeFi ecosystem utilizing single-sided liquidity swimming pools.
MonoX Protocol, probably the most capital-efficient automated market maker (AMM) within the DeFi area, is thrilled to announce the launch of its much-anticipated mainnet with full swap and liquidity options on Ethereum and Polygon networks. The mainnet is the end result of over a 12 months of arduous work, steady growth, and testing.
Although conventional DEXes have considerably lowered the barrier for tasks launching their tokens, it’s nonetheless costly for tasks to launch their tokens as a result of they should deposit two tokens to construct the liquidity pair. MonoX’s progressive single-sided liquidity swimming pools remove the necessity for builders to deliver one other asset, making it economical for tasks to launch their tokens.
It additionally offers a extra capital-efficient and optimized expertise to liquidity suppliers (LPs) and merchants. The LPs should deposit just one token to the liquidity pool, and they’re going to obtain charges for each swaps and borrowing. Merchants will discover that swapping tokens on MonoX is less expensive than alternate options. The platform achieves decrease buying and selling charges by avoiding the prolonged transaction paths seen on conventional automated market makers (AMMs).
The official liquidity swimming pools on the time of launch are:
- Ethereum: ETH, WBTC, USDC, USDT
- Polygon: MATIC, WBTC, USDC, USDT, WETH
MonoX plans so as to add extra Official Swimming pools within the coming months. Nonetheless, Trustless Itemizing swimming pools shall be dwell at preliminary product launch. Trustless swimming pools enable any individual or venture to launch their token in a permissionless method. All you must do is ready an preliminary value and deposit liquidity for the token. It teams the deposited tokens right into a digital pair with its personal vCASH stablecoin, which is backed by all property within the MonoX swimming pools.
MonoX can also be a capital-efficient resolution to infuse liquidity to Worth-backed Tokens (VBTs) corresponding to artificial property, fractional NFTs, insurance coverage tokens, and gaming tokens. Since these property maintain inherent worth, tasks and customers don’t have to collateralize them a second time with a liquidity pair.
Talking on this key inflection level within the venture, MonoX co-founder and CEO Ruyi Ren mentioned,
“MonoX shall be a key constructing block and enabler for DeFi 2.0. With our product, it is lastly attainable, and straightforward, to make progressive tasks and Worth Backed Tokens (VBTs) tradable with none capital necessities or collateral.”