Soldex, Solana-built Decentralized Exchange Partners with Larix Protocol
January 10 2022 - 11:55AM
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The growth of the cryptocurrency industry has raised many concerns.
Ranging from security and scalability, onboarding of newbies,
trustless custody and order matching on exchanges, to overall user
experience. To achieve mass adoption, there’s a need for third
generational exchanges that would resolve these issues.
Cryptocurrency and blockchain technology keeps evolving and
changing to suit users’ needs. Decentralized exchanges are
revolutionary and essential parts of this evolution, offering users
privacy, security, and sovereignty over their crypto assets.
However, any active DeFi user must have experienced the following
drawbacks while using a DEX: Slow transaction speed; Insufficient
volumes; Expensive gas fees; Low liquidity; Poor user experience;
Manually executing your trades. Although these drawbacks are felt
both by experienced traders and newbies alike, newbies are mostly
affected as they are forced to educate themselves on market
conditions and make risky financial decisions all on their own.
Soldex, a third generational DeFi protocol being built on Solana
aims to solve these issues. Soldex, a next generational DEX Soldex
is the fastest, easiest, and most user-friendly third-generation
DEX being built on Solana. It is the next step in DeFi evolution as
it aims to work on all market conditions, 24/7, with emotionless
machine-learning and neural network algorithms. As a
third-generational exchange, Soldex aims to resolve the issues
faced by order-matching centralized exchanges and trustless custody
within current decentralized exchanges. With Soldex, users would
enjoy both decentralization and AI trading. The Soldex protocol is
being built to offer users the major advantages of increased
transaction speed, automated trading, and a user-friendly
interface. Increased transaction speed One of the major pain points
of DeFi users is slow transaction time. Nobody wants to spend long
minutes waiting for a simple transaction to be completed. Slow
transaction time coupled with high gas fees discourages retail
traders from using DEXs. This is one of the reasons the Soldex
protocol is being built on Solana. On Solana, the average cost of
trading tokens is about $0.00001 per transaction and at a speed of
about 65,000 TPS (transactions per second). Compared to Ethereum’s
meager 15 TPS, the scalability of Solana is enormous. Leveraging on
the flexibility and efficiency of the Solana ecosystem, Soldex
would be able to solve the problems of slow transaction time and
high gas fees. Users on Soldex can perform quick, cheap, and
efficient transactions. Automated trading With Soldex automated
trading feature, users would be able to trade 24/7, in all market
conditions, without the danger of human error. Trading crypto
assets is an often risky and emotional business for many crypto
users, especially newbies. The Soldex protocol aims to eliminate
this risk by offering users AI-powered algorithms (created by other
experienced traders). With this machine learning leverage, traders
would be able to design or choose their trading bots according to
their individual criteria like volatility, risk tolerance, time
frame, budget, crypto pairs, margin, etc. The protocol’s neural
network algorithm will evaluate market data, make intelligent
predictions on market risks and trade assets on traders’ behalf.
Also, it will continue developing its capabilities based on data
collected and trading experience. Soldex trading bots will have the
following features; market data analysis market risk prediction
trading assets Additionally, Soldex would level the playing ground
between experienced traders and newbies by offering educational
tools to users. Their educational tools will enable experienced
traders to create their unique trading bot and even offer it to
newbies for a commission. Newbies will also have enough educational
tools to guide them through using their chosen AI-powered bot.
User-friendly interface The Soldex team intends to create a DEX
optimized for quick navigation and user-friendliness. This ensures
users enjoy incentivized liquidity, increased swaps, real-time
transactions, and convenient deposits. One can say that the Soldex
team has a wide range of experiences; and, having noted the
challenges faced by other DEXs, aims to solve them all. Why Solana?
What’s so interesting about the Solana ecosystem? The Soldex team
understands one important factor: for crypto to become widely
adopted, it needs to scale at a massive rate while remaining
credibly neutral. Building on a blockchain where transactions cost
over $30 and last several minutes before completion wouldn’t
achieve this much-needed scalability. However, Solana is the
perfect blockchain for next-generation DEXs looking to scale. With
its novel proof of history mechanism and other technologies
responsible for its impressive speed and scalability, Solana has
proved with results that it is more than capable of carrying out
its mission of mass adoption. Solana boasts of 65,000 transactions
per second (TPS), these numbers make Ethereum’s meager 15 TPS look
non-existent. Also, Solana’s average rate of $0.00001 per
transaction is negligible compared to the high gas fees of the
Ethereum blockchain. Solana also possesses a great infrastructure
built on top of a number of smart contracts and blockchain oracles.
Leveraging this infrastructure, protocols built on Solana would be
able to enable cheap, fast, and intuitive trading experience for
their users while still keeping their platform fully decentralized.
Soldex’ Recent Partnership Larix – the first metaverse-based
finance protocol on the Solana ecosystem. The Soldex team recently
partnered with Larix. Larix is the first and only protocol to
support LP mortgage lending with auto-compounding. The one and only
on Solana! This partnership allows the two protocols to sync and
work together. Larix is the leading borrowing and lending protocol
on the Solana blockchain. It has created more capital-efficient
risk management pools ensuring that a broad selection of collateral
types, stablecoins, NFTs, crypto tokens, and synthetic assets can
be utilized in a safe and secure way. Laris makes use of a dynamic
interest rate model. Larix is the first lending project on Solana
that has been audited and reviewed by SlowMist – the well-known and
reputable smart contract auditor. It is the first lending protocol
with live mining functionality. It’s also the first lending
protocol Open-Sourced on Solana. With this cooperation between
Soldex and Larix, Soldex will gain an increase in attention and a
wilder recognition in the market. What to look out for: There’d be
an AMA in the Soldex community on 11th January, 12 pm CET. During
this AMA, more details of this partnership will be revealed.
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