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
Timan Rebel - June 27, 2022
8 months after Coingecko was the first to list DFP2, CoinGecko now added us as an official listed Exchange! With help from CoinGecko, we created a set of custom API endpoints, to make it possible for CoinGecko to fetch data from all of our 16 tokens and 120 pairs in near real-time. We can now compare ourselves with other exchanges based on Daily Volume and other stats (we’re at the moment of writing the #125th largest Exchange in the world, so we have some room for growth) and dive into stats per pair or token. More importantly, the listing makes it possible to use the transactions on DefiPlaza to determine CoinGecko’s price of the 16 tokens in our pool, including our very own DFP2. This means that the price of DFP2 on Coingecko is now updated by transactions made on DefiPlaza and is no longer only based on just our Uniswap pair. When we launch StablePlaza the data from StablePlaza will automatically be added to CoinGecko since we’ll simply add the pairs to the existing integration and calculate the Daily Volume over both pools. Visit DefiPlaza on CoinGecko.
UI Guy - May 5, 2022
Upon launch most DEXes ship with a dashboard where you can get some more insight into the liquidity you provided. Ours did not, however, as we wanted to get DefiPlaza out and in your hands as quickly as possible. Today, we finally got around to adding it to our application! With StablePlaza on the horizon, we needed a way for you to be able to manage your funds over both pools. As we completed the dashboard to do just so, we thought to ourselves: “why not just release it right away?” So, be sure check out the brand new liquidity page, where we will show you, your liquidity position based on the XDP2-tokens in your account. In the future we plan to add your staked liquidity to this overview as well!
UI Guy - April 19, 2022
Today, DefiPlaza released the much-requested support for WalletConnect! When DefiPlaza launched, its User Interface (UI – i.e. the actual website for the app) was built directly on top of the MetaMask wallet. Though this allowed us to develop and launch the platform pretty quickly, it also meant that MetaMask was the only wallet option for our users. Fortunately, MetaMask is very popular and most of our users were fine with this. But of course, there are many more wallets out there, including potential safer options. So, it made sense that many of you requested support for different wallets. WalletConnect especially was high on the list of requests we received. Trials & Tribulations Ok, it was not as bad as the title suggests. However, adding WalletConnect support did take considerably longer than anticipated. That was due to many reasons, including: We’ve had to rewrite & rewire core portions of the UI to allow for multiple wallet options. That took quite a while, to say the least! WalletConnect is considerably less stable than MetaMask, which got us running headlong into problems we had to debug and then work aroundBecause WalletConnect V2 is being pushed by the team, we looked into incorporating that version initially. However, wallet support is severely lacking, so we dropped that to get V1 in for nowHaving multiple wallets also means we had to support a way to switch between wallets in the UI. Long story short: Today we finally reached the point where we would like to share the result of our work with all of you, so you can finally start using WalletConnect in DefiPlaza! Beta When selecting a wallet, you will notice WalletConnect is flagged as “beta”. This is on purpose, as we would be surprised if no one would run into some exotic edge cases that we did not account for. We are also very curious to see WalletConnect be used in the wild, so we can get a better idea of its stability. Issues? If you run into any issues with this new release, let us know on Discord or Telegram!