UI Guy - February 23, 2023
We are thrilled to announce that DefiPlaza has established a strategic partnership with Astrolescent, a fellow build00r of cutting-edge DeFi products on Radix! 🤝 Our partnership will involve collaborating on various joint initiatives, including future product development, and extending our product offerings. Our common goal is to integrate solutions up to the smart contract level, enabling us to accelerate our innovation and create even more value for our users. We will also work together on joint marketing and community efforts, as we seek to expand our reach. We are both committed to exploring ways to further extend our offering of well-integrated products with high-quality projects. We believe this partnership will create significant synergies and value for both our teams and the entire Radix community! 💪 About DefiPlaza DefiPlaza is a leading decentralized finance (DeFi) platform that offers efficient and cost-effective trading solutions across multiple blockchain networks. The platform operates three exchanges, including two decentralized Automated Market Makers (AMMs) on Ethereum. These DEXs are designed to manage a single pool of the top 16 tokens (DefiPlaza) and the top 4 stablecoins (StablePlaza), respectively. They are highly optimized to offer end-users the lowest possible trade cost, with gas costs per trade being the lowest in the industry. Moreover, the multi-token setup makes them highly capital efficient while minimizing impermanent loss. In addition to the Ethereum-based AMMs, DefiPlaza also operates a cDEX on Radix. This cDEX serves as a testbed for the upcoming DEX that will be launched later this year. About Astrolescent Astrolescent is a Radix-based DeFi product company aiming to bring both the traditional finance world into DeFi and innovative products to DeFi. Founded in August of 2022, Astrolescent has brought three new products to the Radix network, before smart contracts have been deployed. These products include the first Decentralized Exchange Aggregator (DEX), the first concentrated liquidity pool for Astrolescent users, and the first Portfolio Tracker. Future products are in development and will deliver an even greater impact on the Radix community and DeFi as a whole.
UI Guy - January 5, 2023
With the deployment of the DFP2 token to Radix, we launched the first-ever community-owned Ethereum → Radix bridge, allowing you to move your tokens from the Ethereum chain to the Radix chain. Until now, this bridge has been uni-directional, only allowing DFP2 tokens to flow from Ethereum to Radix. Today, with the release of our cDEX on Radix, the time has come to also facilitate migrating DFP2 from Radix to Ethereum! We are happy to announce that the Radix → Ethereum bridge is live as of today! Now that our bridge is bi-directional, you can easily move your DFP2 between both chains! Do note that the manual check we put in place when bridging from Ethereum to Radix is also present when bridging in the opposite direction! In other words: Please allow for up to 24 hours after creating your transaction, before receiving the requested DFP2 amount on the other side. Note that the entire supply of DFP2 was released on Ethereum over the last year. There is no more inflation. When a token is bridged to Radix, it is locked on Ethereum so that the total supply remains constant. Similarly, when a token is bridged in the other direction, the token is locked on Radix and unlocked on Ethereum. This means that the circulating supply is not changed when you bridge tokens. Happy bridging!
UI Guy - January 4, 2023
During the last few months of 2022, we have worked diligently to lay the foundation for DefiPlaza to branch out to the Radix chain. We are very enthusiastic about the potential of the Radix public network and grateful to be a part of this journey! Humble Beginnings We took our first step at the tail end of October 2022, when we introduced our DFP2 token on Radix and deployed the first-ever community-owned Ethereum-to-Radix bridge. This enabled everyone to move their DFP2 tokens to Radix. However, if we allow you to move our governance tokens to another chain, we also want to ensure you can still partake in that governance. This meant that soon after, we rolled out another first on Radix: governance voting using Radix native tokens! This formed a solid foundation for us to take the next step. And today, as 2023 just kicked off, we are announcing our next venture on Radix! Hint: it’s a big one! A Centralized DEX We have big plans for when Radix’s Babylon upgrade becomes available! However, we are not twiddling our thumbs in the meantime. Today we have launched a centralized version of our DEX! Many benefits come with this move! It allows us to: solidify our brand on Radix, gather data to refine our final DEX contract, collect feedback on the user interface, and gain valuable experience with the parameters for liquidity concentration This centralized version of our exchange has been funded by the core team, which negates the need to take custody of user funds. This also means that you will not be able to add your own liquidity at this time. We kindly invite you to test our new exchange! If you are curious about what is happening under the hood, be sure to read up on our plans for Babylon!
Timan Rebel - July 14, 2022
With a lot of pride, we present the new StablePlaza pool on DefiPlaza! DefiPlaza now has two multi-token pools that are optimized to give the lowest trade cost and the highest capital efficiency to the end-user. The (existing) DefiPlaza pool is a 16-token pool of blue-chip tokens and is 15 times more capital efficient than traditional pair-based DEXs, offering up to 15 times more fees per unit of liquidity at the same trading volume. Plus, all fees coming from the 120 trading pairs are collected in one pool. The new StablePlaza pool is a 4-token pool of stablecoins and takes the same highly optimized approach as the DefiPlaza pool to provide cheaper trades, with an even lower transaction fee of 0.03% of the value traded. And for each trade, we automatically select the pool that would result in the lowest trade fee. While the DefiPlaza pool is up to 65% cheaper than Uniswap, the StablePlaza pool will be up to 25% cheaper than Curve, which isn’t as expensive as some of the pair-based DEXs to start with. It’s enough to say we are really proud of this! For the four stable tokens in the StablePlaza pool, we looked at fully collateralized stable tokens and stayed away from any form of algorithmic stables. The four-token pool will consist of $USDC, $USDT, $DAI, and $BUSD. We explain more about why we selected these four in The 4 stable tokens in the StablePlaza pool. Anchored Liquidity Anchored liquidity is a special case of concentrated liquidity as introduced by Uniswap V3. The idea of concentrated liquidity is that liquidity providers can select a price range [a, b] and their liquidity will only be active when the price is within that range. Since stablecoins tend to be pegged around 1 USD, we could create a new form of concentrated liquidity that “anchors” around the 1 USD price point with only small margins on either side. This way, liquidity providers can deploy highly concentrated liquidity, with minimal impermanent loss. Read more about anchored liquidity in our StablePlaza White Paper. Staking Anyone who wants to can now stake their DFP2 governance tokens in return for a part of the generated StablePlaza fees, which makes this the first utility added to DFP2. And it won’t be the last! As an extra feature holders can voluntarily lock their DFP2 for a period of up to 180 days to increase their cut of the fees. Without locking the cut is 1x for each DFP2, with voluntary locking that cut can go up to 3x. With the voluntary locking, DFP2 holders are rewarded for removing their liquidity from the market for a certain amount of time, decreasing the price volatility of DFP2 in the process. You can read more about the fee structure of StablePlaza. Next steps With the launch a new arb community bot will go live as well, making sure the StablePlaza pool is in balance. Any profits from the arb bot will be used to buy DFP2 on the DefiPlaza pool and burn it. We’re closely talking to 1Inch to get the StablePlaza pool integrated as well, we’ll keep you posted on our progress How you can help We could use your help promoting this announcement on Telegram, Twitter, Discord, and anywhere you think the people need to hear about the new StablePlaza pool. You can also retweet our announcement tweet: The new StablePlaza pool is now live on DefiPlaza!https://t.co/spEyk6PtnZDefiPlaza now has two multi-token pools that are optimized to give the lowest trade cost and the highest capital efficiency to the end-user.— DefiPlaza (@DefiPlaza) July 14, 2022 LFG! 🚀
Jazzer - July 12, 2022
As part of the launch of the upcoming StablePlaza pool, a white paper was created to explain the core principles in more detail. The StablePlaza pool will launch this Thursday, July 14. Abstract The white paper introduces StablePlaza, which is an efficient distributed exchange for stable tokens. The main innovation used in StablePlaza is the concept of anchored liquidity which is a specific case of concentrated liquidity using an amount of virtual liquidity tailored specifically for stablecoins. The maximum price difference between tokens is set based on historic data for stable token relative prices. Anchored liquidity is generalized to multi-token AMMs and the first deployment of StablePlaza will list the 4 largest USD stable tokens on Ethereum. The result is a stable token exchange that is highly efficient from both the capital deployment and gas consumption perspectives. Read the whole white paper here: StablePlaza: An efficient constant product AMM for stable tokens based on anchored liquidity