Technical Update: Unveiling the Foundation of the 0Fx Swap
Empowering DeFi Enthusiasts: Paving the Way for Seamless Decentralized Finance
The Protocol 0Fx team is excited to share a significant milestone in our journey—the completion of the initial contracts that constitute the 0Fx Swap. These contracts represent the core infrastructure for our revolutionary decentralized application (dApp), and we're eager to delve into the key features they bring to the Protocol 0Fx ecosystem.
0Fx Swap Features
1. Uniswap Liquidity Pools Integration
As the first application deployed on the Protocol 0Fx, the 0Fx Swap incorporates Uniswap liquidity pools for the 0Fx/USDT pair. This integration ensures liquidity availability and contributes to a seamless trading experience.
2. Liquid Staking Contracts
The primary functionality of the 0Fx Swap revolves around the innovative use of liquid staking contracts as liquidity pools. These pools will automatically delegate liquidity to various liquid staking protocols, allowing liquidity providers to earn staking rewards in addition to fees generated from trades using the provided liquidity.
3. OTC Market for Stablecoins and Liquid Staking Tokens
Introducing a secondary OTC market for stablecoins and liquid staking tokens, enabling 1:1 token exchange with 0% transaction fees. This ingenious feature utilizes single-token liquidity pools and introduces OTC tokens, facilitating seamless exchanges across various OTC pools.
4. Protocol Pendle Integration
The integration of Protocol Pendle allows users to purchase or hold a variety of cryptocurrencies locked on different protocols. Users receive an instant bonus equivalent to 100% of the underlying token's rewards during the lock-up period, converted into 0Fx tokens. This groundbreaking feature opens up new opportunities to maximize returns, even on high-cap assets like Ethereum.
Multichain Availability and Community Votes
To maximize the appeal of these features, community votes will be conducted in due time to determine the first chain to host certain functionalities, such as the OTC market for stablecoins and liquid staking tokens. Leveraging audited contracts to ensures the reliability of these features.
Beta Version Availability
While the beta version will be accessible for late February to March beginning, featuring all native 0Fx Swap functionalities without transaction abstraction, the transaction abstraction enabling the use of liquid staking pools and the different features of the 0Fx Swap in a single transaction is scheduled for completion by the end of March depending on the ressources of the Protocol. This innovation will streamline the user experience, allowing for the use of original tokens in liquid staking pools in a single transaction.
Investment Focus and Upcoming Developments
Acknowledging our current resource constraints, the Protocol 0Fx team is strategically concentrating efforts on the migration of the 0Fx token to Uniswap. This shift will unlock the full deployment of our investment into the technical development of the Protocol 0Fx and expedite the delivery of our first products.
Roadmap Update
New resources have been added to our arsenal, expanding our capabilities. We're thrilled to announce that the first version of the 0Fx Swap and the comprehensive Governance Dashboard will be rolled out within the next 2 to 3 weeks. Despite our modest budget, we're committed to delivering Phase 1 elements promptly, thanks to the current team members' dedication covering costs before our transition to Uniswap.
We deeply appreciate the community's patience and unwavering support. Stay tuned for upcoming updates and the official launch of the 0Fx Swap!
🚀 Let's revolutionize DeFi together! 🚀