THELOGICALINDIAN - PRESS RELEASE At a time back Ethereum arrangement fees abide to accelerate apprehension abounding defi applications abstract a renewed focus on the scalability and interoperability that the ecosystem so badly needs is required
The Demodyfi agreement seeks to boldness this by developing an AMM (Automated Market Maker) that goes above the banned of accepted Ethereum DEX applications, carrying a added able and cost-effective multi-chain band-aid fit for the approaching of decentralized finance. So how does it work?
Leveraging Polkadot’s Advanced Substrate Technology and Moonbeam’s Parachain Interoperability
Demodyfi is the aboriginal AMM for Moonbeam, alluring clamminess from parachains application Polkadot’s avant-garde Substrate technology.
Moonbeam provides a acute arrangement belvedere application the Substrate blockchain framework to accommodate with the aegis of Polkadot’s broadcast chain – a blockchain of blockchains.
As such, the Demodyfi agreement utilizes Moonbeam’s parachain for acute arrangement interoperability and the Substrate blockchain framework as a axiological layer. This aggregate provides affinity with both Polkadot and the Ethereum Virtual Machine (EVM) to admission clamminess beyond the absolute defi ecosystem and accommodate users with all their defi needs in one place.
The aftereffect is a next-generation activating AMM DEX that extends its defi functionality further, acceptable a permissionless one-stop cross-chain asset market. By carrying both pools and cross-chain swaps through asset bridges and parachain interoperability, Demodyfi can accommodate college throughput and lower-cost affairs while blockage affiliated to the Ethereum arrangement and added blockchains, optimizing liquidity. Users will be able to barter and administer assorted non-custodial assets from the DEX, with unified accounts acceptation they can calmly bandy amid wallets like Metamask and Polkadot.js.
The Demodyfi ecosystem, therefore, opens up several key appearance including:
Introducing DMOD
The primary ambition of the Demodyfi ecosystem is to incentivize user behavior by leveraging the interoperable and scalable functionality of Moonbeam and Polkadot to ability users and assets on added blockchains.
The deflationary DMOD badge will ability this ecosystem, accouterment a arch to the broader defi amplitude and enabling lower transaction fees, faster confirmations, added able liquidity, and the bigger functionality of the Demodyfi platform.
DMOD is advised to incentivize and accolade badge holders application the Demodyfi agreement by carrying the afterward benefits:
Next Steps
The accessible Demodyfi IDO (Initial DEX Offering) is set for June 10 on BSCPad. There will be 1.2 actor DMOD fabricated accessible in the auction at $0.25 per token. Those adulatory to participate can chase a simple whitelisting procedure to qualify, afterwards which a randomized draw will baddest the users accustomed for the IDO.
In the meantime, you can anon alpha with our testnet on Moonbeam Alpha afore the mainnet launches in Q4.
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