[PRESS RELEASE – Singapore, Singapore, 25th November 2021]
MonoX Protocol, probably the most capital-efficient liquidity answer within the DeFi area, has introduced that the general public sale of its MONO token will happen on Huobi World’s Primelist token itemizing platform on Thursday, November 25. The itemizing comes a month after MonoX launched its mainnet on the Ethereum and Polygon networks.
There might be a provide of 1 million MONO tokens for buy at $0.40 every. Traders can discover additional particulars of the itemizing right here. With Huobi Primelist, contributors stand an opportunity to buy new tokens at a low value and commerce the newly listed token instantly after the Primelist exercise ends.
MONO is the governance token of the protocol. Token holders can vote on approval for official swimming pools, and pool parameters like charges, rewards, and the long run Lending and Borrowing parameters.
MonoX founder and CEO Ruyi Ren stated, “MonoX is without doubt one of the most modern merchandise within the DeFi 2.0 area, with a profitability nearly 100x a daily swap challenge with related TVL. Huobi is without doubt one of the largest and greatest centralized exchanges on the earth. It’s an honor to get to launch on Huobi. We’ll be utilizing our tokens to advertise decentralized governance of the challenge and entice extra liquidity and partnerships.”
The challenge had earlier raised $5 million from a gaggle of buyers that included Krypital Group, Axia8 Ventures, Animoca Manufacturers, Divergence Ventures, Youbi Capital, Rarestone Capital, LD Capital, GenBlock Capital, 3Commas, OP Crypto, and Blockdream.
It has been worthwhile for the reason that mainnet went dwell, due to its distinctive single-sided liquidity swimming pools that allow it to generate income not simply from buying and selling charges but in addition from the digital vCASH token. With out a native token, the protocol has generated over $800,000 in revenue with solely about $20 million in complete worth locked (TVL) within the first month of mainnet launch.
MonoX is a multi-chain, multi-layer DEX that’s revolutionizing the DeFi ecosystem by eliminating capital inefficiencies of the present liquidity fashions. In contrast to conventional DEXes that require tasks to deposit two tokens to construct a liquidity pair, MonoX allows builders to listing their tokens with out the burden of bringing one other asset.
Its modern single-sided liquidity mannequin teams the deposited tokens right into a digital pair with the vCASH, which is backed by all belongings within the MonoX swimming pools. It ends in improved capital effectivity, decrease buying and selling charges, and zero-capital token launching.
MonoX can also be a capital-efficient answer to infuse liquidity to Worth-backed Tokens (VBTs) akin to artificial belongings, fractional NFTs, insurance coverage tokens, and gaming tokens. Since these belongings maintain inherent worth, tasks and customers don’t have to collateralize them a second time with a liquidity pair.
MonoX is probably the most capital-efficient automated market maker (AMM) within the DeFi ecosystem. It empowers builders, merchants, and liquidity suppliers to take part in an open, accessible, and capital-efficient market. MonoX goals to revolutionize DeFi by fixing the capital inefficiencies of the first-generation protocol fashions. Its single-sided liquidity swimming pools and vCASH facilitate decrease buying and selling charges, capital effectivity, and the flexibility to launch tokens with zero extra capital.
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