Welcome to the MonoX Docs. Here we aim to provide a robust explanation and understanding for how our protocol works. Get to know us and join us on our journey to make DeFi more capital efficient.
This documentation is a work in progress. Please be aware that some elements will be subject to change. If you have any questions please reach out to us.
MonoX is a new DeFi protocol using a single token design for liquidity pools (instead of using pool pairs). This is made possible by grouping deposited tokens into a virtual pair with the vUNIT stablecoin.
Our first use case for single token liquidity pools will be an Automated Market Maker - Monoswap, launched in October 2021.
In the future, we will be launching lending/borrowing and derivatives products.
Single token liquidity pools are more capital-efficient, resulting in a more optimized experience for all participants.
- 1.Protocol owned liquidity via bonding program
- 2.As a project or developer, you can launch your token with zero extra capital.
- 3.As a liquidity provider you only have to deposit one token to the liquidity pool.
- 4.As a trader, swapping tokens is made much cheaper.
- 5.We use one pool so LPs will receive fees for both swaps and borrowing.
- 6.Most capital efficient solution to trade tokens already backed by value (Synthetics, NFT shards, Gaming Tokens, Insurance Tokens)
- DeFi Degens: A new way to Ape. No more explanation needed.
- Alpha seekers: Traders who are looking for a cheaper alternative to invest into crypto compared to using other GAS and fee heavy AMMs/DEXs.
- DeFi Enthusiasts: DeFi natives, protocol connoisseurs, and yield farmers who love to use/experiment with new and exciting DeFi products.
- Projects & Developers: Legitimate projects looking to launch their token, but lacking in sufficient capital.
- Anyone who was rug pulled: We have a two-tiered pool system for Official Pools and trustless listing pools (where the vUNIT balance cannot go below 0). Such a system makes it harder for rug pulls and scam token listings to operate.