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The mainnet launch comes just weeks after MonoX raised $ 5 million to disrupt traditional DEXs and eliminate inefficiencies in the DeFi ecosystem using one-sided liquidity pools.
MonoX is preparing to launch
MonoX protocol, the most capital efficient automated market maker (AMM) in the DeFi space, is delighted to announce the launch of its highly anticipated mainnet with full swap and liquidity features on Ethereum and Polygon. The mainnet is the culmination of over a year of hard work, continuous development and testing.
While traditional DEXs have lowered the barrier significantly for projects that launch their tokens, it is still expensive for projects to launch their tokens as they have to deposit two tokens to build the liquidity pair. MonoX’s innovative one-sided liquidity pools eliminate the need for developers to bring in another asset, making it economical for projects to launch their tokens.
MonoX also provides an optimized and more capital efficient experience for liquidity providers (LPs) and traders. LPs only need to deposit one token into the cash pool, and they will receive fees for swaps and borrowings. Traders will find that trading tokens on MonoX is much cheaper than the alternatives. The platform helps reduce trading costs by avoiding the long transaction paths seen on traditional automated market makers (AMMs).
The official liquidity pools at launch are:
- Ethereum: ETH, WBTC, USDC, USDT
- Polygon: MATIC, WBTC, USDC, USDT, WETH
MonoX plans to add more official pools in the coming months. However, untrusted ad pools will be live when the product is initially launched. Untrusted pools allow any person or project to throw their token without authorization. All you need to do is set an initial price and deposit cash for the token. It bundles the deposited tokens into a virtual pair with its own vCASH stablecoin, which is backed by all the assets of the MonoX pools.
MonoX is also a capital efficient solution for injecting liquidity into value-backed tokens (VBTs) such as synthetic assets, fractional NFTs, insurance tokens and gambling tokens. intrinsic value, projects and users do not need to secure them a second time with a cash pair.
Speaking on this key project inflection point, MonoX co-founder and CEO Ruyi Ren said:
“MonoX will be a key element and a catalyst for DeFi 2.0. With our product, it is finally possible and easy to make innovative projects and Value Backed Tokens (VBT) negotiable without any requirement of capital or collateral.
MonoX is the most capital efficient Automated Market Maker (AMM) in the DeFi ecosystem. It enables developers, traders and liquidity providers to participate in an open, accessible and capital efficient market. MonoX aims to revolutionize DeFi by correcting the capital inefficiencies of first generation protocol models. Its one-sided liquidity pools and vCASH stablecoin make it easy to reduce trading fees, capital efficiency, and the ability to launch tokens without any additional capital.
For more information contact Hugh Flood at [email protected] or visit the website.
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