End of Month Roundup: Cryptocurrency Winners and Losers in May 877

Top performing cryptocurrencies in May were Bytecoin, Zilliqa and Decred. While Cardano, Nem and Qtum suffered the heaviest losses.

As we pass into another month in crypto land it is time to evaluate May’s winners and losers. After solid gains throughout April, May was set to build on them and send crypto markets higher again. It didn’t happen and the bears regained control pushing them all back down again from highs on the 6th. May has largely been a month of decline.

Total crypto market capitalization has fallen in May from around $418 billion on the 1st to $328 billion on the 31st. This equates to a loss of 21.5% as 90 billion dollars flooded out of crypto and back into fiat. Since the peak in January, crypto markets had lost 60% by the end of May, around $500 billion. For the past 3 months they have been oscillating between $270 and $470 billion, unable to break out in either direction.

Bitcoin has played the pied piper and led the markets down falling from $9,200 at the beginning of the month to around $7,500 at the end of it. This represents a fall of 18.5% which is slightly less than that for all cryptos indicating that altcoins have had a worse time in May. Bitcoin trade volume has also fallen from around $8.5 billion to $4.5 billion during May; this has knocked its market cap down by 18% to $128 billion. Bitcoin’s market dominance increased marginally in May from 37.7% to 39%.

May Crypto Winners

An epic pump caused by a Binance listing made Bytecoin one of the very few cryptocurrencies that ended May at a higher level than it started. BCN made 19% in May from $0.0055 to $0.0065; in satoshi levels this privacy focused coin did very well climbing 53% from 58 to 89 satoshis. Bytecoin surged into the top 25 and ended May at 20th spot with a market cap of just over $1.2 billion.

Zilliqa is one of the few other coins in the top 30 that has ended May higher than it began. Up 10% from $0.010 to $0.011 ZIL was also listed on a number of exchanges which gave it the pumps. Against Bitcoin Zil climbed 36% from 1100 satoshis to 1500 satoshis, its market cap at the end of May was $830 million.

Decred also needs a mention as it gained 12% in May from around $80 to $90 at the end of the month. DCR made solid gains against BTC also rising 35% from around 920000 satoshis to 1220000 over the 31 days. Decred is ranked at 29th spot with a market cap of $660 million.

May Crypto Losers

Ethereum has not fared as badly as Bitcoin during May but has still lost around 16% from a trading level of $670 at the beginning of the month to $560 at the end of it. This had the result of knocking $11 billion off its market cap as all cryptos fell in unison.

Ripple’s XRP has taken a beating in May dropping 27% from $0.82 to $0.60. As usual the company continues to forge a way into the banking system with new partnerships but this has had little effect on its cryptocurrency price. If any token should do well it would be the one that is being used in real world situations and should be XRP with the xRapid system. This hasn’t been the case though for Ripple.

Bitcoin Cash began the month trading at around $1,300 and ended it 25% down at around $980. BCH peaked at $1,840 on May 6 leading up to its mid-month hard fork but this was not enough to stop the downward slide that followed.

EOS has dominated the news in recent weeks with the launch of its mainnet but this did not stop the coin shedding almost 30% in May. Starting out trading at around $17, EOS had fallen to around $12 by month end. Against Bitcoin however it has only lost 16% falling to 162000 satoshis at the end of May.

Litecoin has followed the rest of the cryptos by falling in May. No news has emerged for the world’s 6th most popular digital coin which saw prices plummet from around $145 to $117 during the month. The 20% loss is in line with the general fall in crypto markets during May.

Cardano took a heavy hit in May shedding 38% from $0.34 to $0.21. ADA is more volatile than most altcoins as it climbs quicker but falls harder, against BTC is lost 23% ending at 2860 satoshis. Likewise Stellar Lumens suffered heavy losses in May dropping 36% from $0.42 to $0.27. Against Bitcoin XLM fell 18% to 3760 satoshis at the end of May.

Iota lost 17% in May sliding from $1.9 to $1.57 over the 31 days.  Against Bitcoin however it remained stable at around the 21000 satoshi level, making it one of the few coins that did not lose out to BTC in May. Previously well performing Tron lost over 30% in May falling from around $0.090 to $0.062. In satoshi terms the loss was around half at 15% from 1000 sats to 845 sats over the month.

Neo took a pasting in May falling from $80 to $51 over the month. The dollar loss equates to around 36%, the Bitcoin loss was around 22% with Neo ending the month at around 700000 satoshis. Monero also got battered losing 34% from $235 to $155 in May, and Dash fell by the same percentage ending the month just over $300.

Nem got beat up in May along with the rest falling 38% from $0.39 to $0.24. VeChain lost 23% ending the month at around $3.40 and Binance Coin just below it shed around 10%. Ethereum Classic dropped 28%, Qtum got battered 40% falling from $22 to $13, and just outside the top 20 OmiseGO lost 37%.

Similar losses were suffered by Icon down 34%, Zcash losing 11%, Lisk down 32%, and rounding out the top 25, Ontology losing 21%.

The majority of cryptocurrencies fell in May, with only a handful of smaller ones doing well as major exchanges listed them. Overall losses in May were not as bad as March but most of the gains made in April were wiped out and markets were generally bearish at the end of the month. To summarize, the biggest winners in the top 30 in May have been Bytecoin, Zilliqa and Decred with Cardano, Nem and Qtum suffering the biggest losses.

Previous ArticleNext Article

Metatime Raises $11M in Private Funding to Enhance Web 3.0 Ecosystem 994

Metatime has announced that it has raised a total of $11 million in investment through two seed sales held to develop the Web 3.0 ecosystem. The funds raised in the two seed sale rounds held before the initial public offering will support Metatime’s goal of expanding its Web 3.0 product range.

Under the umbrella of Yıldız Tekno GSYO A.Ş., leading investors including Halkbank, Kalyon Holding, Yıldız Technical University, and Türk Telekom provided a total of $11 million in funding to Metatime. Also, more than 10 angel investors participated in the two-stage seed sale. The locks of 10% of the MetaCoins (MTC) sold in the two-stage seed sale will be opened after the final public offering, which will end on November 11, 2023. The remaining 90% will be linearly released for use starting from the main launch date of November 11, 2023, for a period of 225 days.

The demand collection process, which started on March 3 and will continue until March 23, is ongoing. With high demand for the first private sale of MTC, investors are vying to own MetaCoin at a fixed price of USD 0.07. Metatime has released all the details of the private sale ahead of the demand collection that will end on March 23.

Metatime Co-Founder and CEO Yusuf Sevim said, “We are grateful to all the seed investors who supported us. Their investments will help us break new ground in blockchain technology and expand the ecosystem. We started our investment process with the first demand collection on March 3, and we are very pleased with the interest the campaign has received. We expect this process to help us achieve our goal of creating the world’s most comprehensive Web 3.0 ecosystem.”

Yıldız Tekno GSYO A.Ş., which participated in the private sale, said, “We are proud to support Metatime’s goals of introducing blockchain technology to people of all ages, and we wish the team success.”

Metatime’s first products under development include a cryptocurrency exchange and a blockchain network, which will be the foundation of the Web 3.0 ecosystem. Other products currently being developed include MetaNFT Marketplace, MetaLaunchpad, MetaExplorer, MetaWallet, MetaCoin, and MetaStablecoin.

With MetaChain supported by the Proof of Meta consensus mechanism, Web 3.0 users can participate in network verification and MTC mining. MetaExchange, built on the Metatime ecosystem, is a platform designed for users of all levels. With Lite, Pro, and Meta versions, MetaExchange will set a precedent by not assessing commissions for trades that closed at loss. Additionally, a copy trading feature allows novices to profit from emulating the experts.

As the first centralized cryptocurrency exchange to offer a completely transparent order book, MetaExchange will prove that all transactions are executed correctly and that there is no attempt at market manipulation.

About Metatime

Metatime is a complete blockchain ecosystem for giving individuals entry to web3 in all its forms. From NFTs to trading and gaming to saving, Metatime incorporates a range of powerful products that will give network users full control over their finances, identity, and assets. The MTC token plays a pivotal role in realizing these goals, rewarding MetaChain validators and creating a circular economy in which everyone prospers.

Can D5 Exchange Drive Forward Crypto Trading in the Wake of US Regulatory Crackdowns? 1234

 

The recent SEC crypto crackdown has hit many centralized exchanges (CEX). This scrutiny is drawing traders to decentralized exchanges (DEXs). However, insufficient liquidity, impermanent loss, limited trading functions, and high gas fees may make it difficult for users to migrate.

The first decentralized liquidity aggregator with order book and AMM mechanisms is Gridex Protocol-based D5 Exchange, that solves DEX issues by offering CEX-like trading.

The rise of the DEX

In November 2022, the FTX collapse massively damaged the credibility of CEXs. The same month, Block reported that trading volume for DEX’s increased 93s% to $65 billion.

Emerging DEX projects with strong technological innovation will have higher growth potential than the older players in the next bull market (such as Uniswap and SUSHI). One notable newcomer is the D5 Exchange.

Three-Pronged Approach: Liquidity Aggregation, Hybrid Trading Model, Ultimate User Experience

So, despite their loss of credibility, why can’t DEXs beat CEXs? Lack of liquidity, gas fees, and impermanent loss are some issues affecting DEXs. D5 Exchange, the first aggregator to combine order book and AMM functions, aims to revolutionize on-chain crypto trading and accelerate the transition from CeFi to DeFi.

D5 Exchange Hybrid Trading Model: AMM + Order Book

Most DEX trading execution models are either order book or AMM. Both have advantages and disadvantages.

AMMs allow trading in illiquid markets. Traders can close orders without a counterparty match, saving gas and completing transactions in one trade. However, large traders may suffer from slippage, and LPs may suffer from impermanent loss, the pool lacks liquidity. AMM-based DEX products include Uniswap and Balancer.

An advantage of order books is that traders can place limit orders and wait for them to be executed at the best price. If the market is liquid, trades can be done fast and slippage-free. They are commonly used in CEXs and are therefore known among mainstream traders. A disadvantage is that they may need multiple orders to complete, meaning high gas costs. Projects such as Injective and dYdX use order books.

D5 Exchange is the first exchange to combine the advantages of both AMM and order books and is the Ethereum ecosystem’s most liquid and dynamic DEX because its automatic router can aggregate liquidity from external DEXs like Uniswap (V2+V3) and Curve to achieve internal liquidity and the best exchange rate.

GMOB+GPLM: Innovative Dual-Model Order Book Algorithm

Gridex Protocol powers D5 Exchange order books, the first Gridex-based DEX. Only Gridex has an Ethereum order book.

Gridex’s Grid Maker Order Book (GMOB) is a major improvement over centralized platforms’ Central Limit Order Book (CLOB). On-chain CLOB requires significant resources. Semi-centralized CLOB platforms like dYdX match transactions off-chain and synchronize the results on-chain to solve this problem. This approach has systemic risks and goes against DeFi.

The GLOB model uses the “Grid Price Linear Movement” (GPLM) algorithm to achieve decentralization. based on L1 transactions – a huge improvement over L2 and off-chain DEXs. Gridex Protocol’s gas level matches CFMMs, while the GPLM algorithm doesn’t affect transaction settlement efficiency or user costs. Gridex Protocol’s gas level is comparable to or lower than Uniswap’s, which uses the AMM mechanism.

GMOB and GPLM allow D5 Exchange to offer a revolutionary on-chain trading experience. With this innovation, the Gridex Protocol is poised to lead the decentralized order book market.

Maker orders are used on Gridex, allowing traders to buy and sell orders above and below the market price. Also, maker orders can be placed at the current price, and if the market price changes, they may be filled. Only when maker orders are placed at the bid/ask price may they slightly diverge from trader expectations, but the impact is negligible.

Ultimate Usability

D5 Exchange’s UX design is comparable to CEXs; smooth, but with connecting wallets letting users trade immediately, and zero transaction slippage.

The Grid mechanism of D5 Exchange divides grids into three types based on price range granularity: 0.01%, 0.05%, and 0.3%, suitable for different tokens. Stablecoin trading pairs have low volatility, so a finer grid speeds execution. To maximize transaction fee income, Maker orders for high-volatility trading pairs should use coarser grids. The market will suggest grids for orders. Cancelling orders helps reorganize liquidity and avoid short-term losses. The D5 Exchange optimizes order execution and transaction fee income.

GDX Listing

Gridex’s native currency, GDX, was formally listed on the D5 Exchange, the first on-chain trading protocol for the Ethereum ecosystem, on March 15th. According to CoinMarketCap data, the price of GDX rocketed to $1.97 at its high, an increase of over 1,000 % from its listing price of $0.16. Furthermore, according to data from Abiscan, over 10,700 wallet addresses own some GDX. To facilitate trading on D5 Exchange, Gridex has launched trading pairs such as GDX/USDT, GDX/USDC, and GDX/GMX.

With a maximum supply of 200 million, 30% of GDX is set aside for project development and promotion, core contributors, and early investors. The other 70% is set aside for community distribution, which includes airdrops, PoS incentives, and maker awards. The maker rewards campaign began on Arbitrum One on the GDX/ETH trading pair (0.05% grid) on March 15th, 2023. The total prize pool for the maker rewards campaign is 54 million GDX.

Conclusion

In conclusion, D5 Exchange’s forward-thinking approach to combining AMM and order book models will help the DEX industry grow. The D5 Exchange does not solve all DEX industry issues, so industry builders must work together. The D5 Exchange and Gridex Protocol, leaders in the DEX industry, are developing DeFi together.

Website: https://www.d5.xyz/
Discord: https://discord.com/invite/Wcx79YhSq2
Twitter: https://twitter.com/d5exchange
GDX Maker Rewards Campaign: https://rewards.gdx.org/

 

HeartX Launches Web3 Marketplace and Community Aim to Revolutionize Digital Art Industry 1307

HeartX, previously known as ArteX, a trailblazer in the digital art industry, has recently rebranded and unveiled a groundbreaking web3 marketplace and community that empowers artists, collectors, art consultants and art lovers to redefine the value of digital art. The HeartX platform provides a secure, immersive, and transparent space for creating, sharing, and trading digital artworks, catering to artists, collectors, and the web 3 community alike.

The sleek and user-friendly interface allows artists to upload and list their NFT-based digital art for a global audience to explore and purchase. HeartX’s unique art evaluation system engages all users by enabling them to rate by voting on digital art pieces, earning tokens as a reward, and creating an interactive and dynamic online art community. This feature fosters closer ties between creators, collectors, and art lovers and creates an interactive and dynamic online art community. HeartX’s Vote-to-Earn system allows people to show their taste and support, making it easier to join the web3 community.

The team announces the launch of HeartX’s first season, which introduces a unique set of features designed to enhance user engagement and incentivize participation. The “vote-to-earn” model allows users to earn tokens by voting for art pieces, with both the most and least favored pieces resulting in token earning. With the tokenomics model, there are two types of tokens for the platform- the governance token $HTX and the utility token $HNX that encourage users to unlock new opportunities for growth and profitability. Additionally, multiple dimension ranking systems reward users, creators, and collectors, creating a positive feedback loop that encourages ongoing participation within the ecosystem.

HeartX is excited to announce their team and partnerships as they prepare for launch in the rapidly growing web3 space. The team is composed of seasoned professionals with a diverse range of experiences and backgrounds, united by a strong passion for creating a seamless, secure, and user-friendly platform and ecosystem for users worldwide. HeartX has formed partnerships with some of the most innovative teams in the web3 space, with more to be announced.

“We believe that the value of arts can be redefined by community consensus,” said HeartX founder Anson. “We also believe that ‘art’ shouldn’t be that out of reach, which is why we are bringing people the HeartX platform.” HeartX’s vision for the future of digital art goes beyond being an online marketplace. It is a vibrant community of art lovers passionate about exploring and collecting digital artwork. The platform connects creators and collectors, offering artists a unique opportunity to showcase their digital artwork to a global audience and collectors a chance to build a reputation and find unique, innovative pieces.
The HeartX team has just released the HeartX whitepaper, outlining its vision for a decentralized future and highlighting the key features and benefits of the HeartX platform. The HeartX team invites everyone to read the whitepaper to learn more about its ambitious goals and innovative solutions. Learn more about HeartX’s whitepaper here.

The team is continuing to develop the HeartX project and looks forward to sharing updates with the community as they progress toward launch. The HeartX marketplace will be launched in both app and web version in mid-April. Join HeartX today and experience the future of digital art.

About DECENT ARTS

Decent Arts Singapore Pte. Ltd. is a Web3 professional team dedicated to art.

Decent Arts aims to connect the offline and online art worlds to broaden the boundaries of traditional art and establish a more inclusive, diverse and decentralized Web3 art ecology.

Decent Arts focuses on the physical and digital art market and has created an online art community for trading and communication. It has launched digital art collections, and incubates a richer metaverse and Web3 products to allow more people to connect, understand, and finally fall in love with art.

The team currently has 30 members who are responsible for product planning, artist cooperation, technology development, platform operations, etc. Most of the members come from successful Internet companies in diverse fields including gaming, live broadcast, social networking, e-commerce, art, blockchain, digital collections, and more.

Signum Digital Obtained the Approval-In-Principle from the SFC on the First Security Token Offering and Subscription Platform in Hong Kong 2012

Coinstreet Holdings Limited (“Coinstreet”) is a leading global professional consultancy firm and solution provider in the digital asset sector, and Somerley Capital Holdings Limited (“Somerley”, stock code: HK.8439) is a leading financial group in Hong Kong with an established track record in the corporate finance advisory space in Greater China. Signum Digital Limited, (“Signum Digital”) is the joint venture of Coinstreet and Somerley, and has received an approval-in-principle from the Securities and Futures Commission (“SFC”) for its security token offering and subscription platform. This is the first of its kind in Hong Kong.

Security tokens are a new type of blockchain-based virtual asset that may represent ownership in actual assets, such as real estate. The link to real-world assets may reduce the risk to prospective investors, assist their due diligence process and underpin the market value of the offering. Blockchain technology provides a transparent and efficient basis for digital assets to be traded in real time. Transactions are permanently and immutably recorded on blockchain, through cost efficient mechanisms and programable governance in the form of automated smart contracts. Subject to satisfying the conditions for final approval from SFC, this license will allow Signum Digital to operate a security token offering and subscription platform under the brand of “CS-Pro” (www.CSpro.io), serving professional investors and providing funding for issuers with qualified projects in Hong Kong and international markets.

Samson Lee, CEO of Signum Digital and Founder of Coinstreet commented, “In today’s financial market, SMEs face many challenges in traditional fundraising channels, and professional investors also have limited options for high quality alternative investment opportunities. Signum Digital aims to fill such a gap and we believe the CS-Pro security token offering and subscription platform can add much value to Hong Kong and international security token project issuers and professional investors.”

Martin Sabine, Chairman of Somerley, commented: “We believe there is considerable pent-up demand among professional investors to deploy a proportion of their portfolio into digital assets. The events of 2022 may have shaken their confidence in parts of the crypto world but not their belief that digital assets will play a pivotal role in the future of finance. STOs distributed by Signum Digital, backed by real assets and income streams, are in our view a medium risk way of participating in these future opportunities.”

Clara Chiu, CEO of QReg Advisory and Former Head of Fintech and Licensing Director of the SFC said, “We are proud to have advised Signum on the design of their STO platform and helped them secure the first-ever SFC licence for such a platform in Hong Kong. We are pleased to work with Signum which shares our passion for innovation and our commitment to excellence. The SFC’s license to Signum’s STO platform is truly ground-breaking, and we believe that it has the potential to revolutionize the way that businesses raise capital. We are thrilled to be a part of this exciting development in the industry!”

Combining Coinstreet’s security digitization and asset tokenization expertise with Somerley’s grounding in best practice for conventional corporate finance, Signum Digital will offer professional investors fully compliant asset tokenization offering and distribution model which may cover a wide array of asset types and classes ranging from private equities, debts, income bearing notes, real estate, investment funds, commodities, and fixed assets, capital equipment, to carbon credits, arts & collectibles and other alternative investment assets.

About Signum Digital

Signum Digital Limited is a joint venture company between Coinstreet and Somerley for the provision of brokerage and distribution services to professional investors through STOs, through a platform operated under the brand of “CS-Pro.” For more information, please visit https://signumdigital.hk/

About Coinstreet

Founded in 2017, Coinstreet is an award-winning professional advisory and consulting firm in the Digital Asset sector. Coinstreet also offers innovative Fintech services, as well as business and operation solutions, covering four key business segments including: (1) TOKENIZATION BUSINESS – Digitized Securities & Security Tokens (STO); (2) ASSET MANAGEMENT – Custodian, DeFi, Investment Funds; (3) WEB3, METAVERSE & UTILITY TOKENS – NFT, Stablecoin, Loyalty Tokens; and (4) ACCELERATOR – Education, PR, Events, Marketing, Consultation. Coinstreet is a co-organizer of the TADS Awards (https://tadsawards.org/) – the world’s first international award for Tokenized Assets and Digitized Securities sector, and is a co-organizer of the Digital Asset Series / DAS (https://digitalassetseries.org/) – a series of seminars that aim to provide free education for the general public about the ever-growing landscape of digital assets and facilitate mass adoption. For more information, please visit https://coinstreet.partners/.

About Somerley

Somerley Capital Holdings Limited is a public company listed in Hong Kong (stock code: 8439). The Somerley Group includes subsidiaries licensed to conduct Type 1 (dealing in securities), Type 4 (advising on securities), Type 6 (advising on corporate finance) and Type 9 (asset management) regulated activities under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). The Somerley Group is principally engaged in providing corporate finance advisory and fund-raising services through its subsidiaries based in Hong Kong and Beijing. For more information, please visit https://www.somerleycapital.com/en/.

ATENEO AND NCHAIN SIGN MOU FOR BLOCKCHAIN RESEARCH AND EDUCATION 2144

Global blockchain leader nChain and Ateneo De Manila University signed a memorandum of understanding (MOU) to promote and foster blockchain education within the University and define a framework for the future of the Philippines.

This collaboration will be led by the University’s research group, The Ateneo Blockchain Laboratory. It is set to provide an additional blockchain leadership unit to the University’s course offering in the second semester of 2023. In addition, nChain will support PhD students with access to patented IP and several grants to further blockchain research in the Philippines.

The Ateneo Blockchain Laboratory aims to conduct applied research and development projects focused on the practical applications of blockchain technologies. Ateneo and nChain share a common vision and goal – to advance fintech and blockchain technology while achieving their social impact goals.

Christian Pulmano, head for the Ateneo Blockchain Laboratory, shared, “Our collaboration with nChain aims to expand the University’s blockchain programs through education, capacity-building, and research initiatives. Blockchain technology can potentially solve many of our society’s problems. As a research institution, we want to explore the potential of blockchain for the ultimate goal of nation-building.”

nChain partners with educational institutions and world-class universities across the globe. It supports and promotes interdisciplinary research and education, as well as a wide range of academic programmes in information and communications technology, cryptology, economic theory, and data science. nChain provides policy recommendations and empirical evidence on blockchain uses and technology’s social and economic benefits.

Stefan Matthews, nChain Group Chairman, cited: “Our partnership with the University is the first of a series of educational and training initiatives being rolled out to support the broader government objective to enable blockchain adoption in the Philippines. Concurrently, we deliver seminars on leadership and advanced technical topics for business and government. We aim to highlight blockchain and transition from the Philippines to web 3 to the world.”

nChain is committed to advancing the global adoption of the BSV Blockchain, the largest public blockchain that has restored the original Bitcoin protocol and unlocked the ability to scale. This means that it can increase its block sizes and transaction capacity as needed while lowering fees to tiny fractions of a cent. This aligns with governments and institutions that process a high number of transactions on a daily basis.

About nChain

nChain is a leading provider of global blockchain technology, IP licensing and consulting services. The company serves clients globally to power several industries, including gaming, supply chain, and finance. nChain offers Web3 solutions in the digital payment space, along with professional services that assist enterprises of all types to benefit from blockchain technology. nChain currently has almost 2,800 registered active and pending patents and is the developer behind the Bitcoin SV Node software, Teranode, Kensei, and more.

www.nchain.com

About Ateneo De Manila University

Ateneo de Manila University is one of the world’s most exciting communities of leaders and scholars. More than 160 years after the Jesuits returned to the Philippines in 1859, Ateneo has grown into a major Jesuit university whose schools include a college, graduate school, four professional schools, three basic education departments, and an array of research and development centers.

The motto of the Ateneo de Manila University is Lux-in-Domino, “Light in the Lord.” These words from the letter of St. Paul to the Ephesians call us to “live as children of light, for light produces every kind of goodness, righteousness, and truth.” The Ateneo de Manila is more than an institution of higher learning. The Ateneo commitment is to become light in the world, seeking the truth to illuminate and to serve. This spirit lives in every aspect of our work as a Jesuit and Philippine university.

www.ateneo.edu

Gridex: An on-chain order book protocol, the catalyst for DeFi mass adoption 2549

With the increasing popularity of decentralized finance (DeFi), the demand for decentralized exchanges (DEXs) with a better user experience and lower costs has become one of the primary goals of many blockchain projects. Gridex Protocol has taken a step forward in addressing this need by launching an on-chain order book trading protocol that offers robust decentralized attributes.

A new type of trading protocol using a dual algorithm framework

The Gridex Protocol team has introduced a new type of DEX using their dual algorithm framework, providing a solution to the shortcomings of existing automated market maker models used by mainstream DEXs. The team designed the GMOB model and GPLM algorithm to solve the problems of impermanent loss and high slippage issues preventing users from entering DeFi.

Centralized exchanges (CEXs) usually use a CLOB model for the matching engine algorithms. However, the CLOB model requires significant resources, making it impossible for them to be deployed and run on blockchain networks. The GMOB model improves the resource consumption problem caused by CLOB, allowing order books to be on-chain.

GMOB limits maker orders to an extremely narrow price range based on percentage limits, adding them to the system order book instead of executing them immediately. This feature increases liquidity in the entire system, like a CEX. Gridex Protocol drives incentives by providing makers with negative transaction fees.

The GPLM algorithm mainly handles transaction execution and settlement, measuring linear proportional relationships between changes in token prices caused by takers within a specific price range and token purchase quantities. Even if all transactions are on-chain, the gas consumption for the Gridex Protocol remains the same as a constant function market maker without imposing a higher cost burden on users.

Gridex Protocol provides clear advantages for users

Gridex Protocol is taking the user experience to the next level with its innovative technology. In the early stages of DEX development, the focus was on decentralization and transparency, but as the market evolved, improving user experience became a top priority.

Gridex Protocol offers a smoother trading experience and lower costs than its competitors. Tests have shown that trading with Gridex Protocol costs the same as Uniswap v3, at around 120,000 gas. However, completing orders with the “collect maker order” feature can save users up to 60% of gas fees compared with adding or removing liquidity with Uniswap v3. This innovative feature means users can save up to 40% on transaction costs by switching from Uniswap v3 to the Gridex Protocol.

The Gridex Protocol order system provides users with three granular options to balance transaction efficiency and fee income: 0.01%, 0.05% and 0.3%. For stablecoin pairs and other trading pairs where quick execution is essential, users can choose finer granular modes. Coarser granular options are also available for high-volatility tokens to obtain increased transaction rewards.

Gridex Protocol‘s native token GDX will list on D5 Exchange on March 15

Gridex Protocol has announced that it will list GDX — its native token — on D5 Exchange on March 15. According to the team, a total number of 200 million GDX tokens will be issued, of which 70% will be distributed to the community for proof-of-stake (PoS) rewards, maker rewards and airdrop rewards. The remaining 30% will be used to reward core contributors and early investors, and for project development and marketing.

According to the development roadmap, the Gridex Protocol team expects to launch a PoS mainnet in the second quarter of 2024, supporting mainstream layer 1s and layer 2s, establishing cross-chain order books, with D5 Exchange becoming the DEX that aggregates liquidity from the entire network.