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 vUSD stablecoin.
Our first use case for single token liquidity pools will be an Automated Market Maker - Monoswap, which is set to launch in Q2 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.
As a project or developer, you can launch your token with zero extra capital.
As a liquidity provider you only have to deposit one token to the liquidity pool.
As a trader, swapping tokens is made much cheaper.
We use one pool so LPs will receive fees for both swaps and borrowing.
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 vUSD balance cannot go below 0). Such a system makes it harder for rug pulls and scam token listings to operate.