DefiPlaza is an open source, decentralized exchange (DEX) on Ethereum and Radix, aiming to provide efficient and sustainable decentralized finance (DeFi) solutions. The platform emphasizes providing optimal income for its liquidity providers rather than aiming for high trade volumes.
In the wake of the expanding DeFi landscape, DefiPlaza sought to transition beyond Ethereum and explore additional blockchain platforms. With a unanimous community vote, the project revealed plans to develop a DEX on the Radix L1 chain following the Babylon upgrade.
- Ethereum DEX: DefiPlaza is recognized as one of the most efficient DEXs on the Ethereum network, offering up to 120 unique trading pairs.
- Radix Expansion: Leveraging the capabilities of the Radix Engine, DefiPlaza aims to design a DEX that addresses vulnerabilities commonly found in Ethereum-based smart contracts. Additionally, Radix's transaction cost dynamics are anticipated to be more favorable compared to Ethereum's.
DeFiPlaza's transition to Radix was influenced by the challenges faced while operating on the Ethereum network. The initiative to shift towards Radix was driven by the platform's potential to offer a better user and developer experience, fostering a more secure environment for complex DeFi designs.
- Multi-Token Trading: The platform provides direct trading between multiple token pairs, reducing the need for intermediary swaps.
- Single-Sided Liquidity: DefiPlaza allows liquidity providers to be exposed to the price movements of only the token provided and DFP2, the internal operational token of the platform.
- Concentrated Liquidity: To enhance capital efficiency, DefiPlaza will implement automated liquidity concentration, adjusting it based on data and market conditions.
- Dynamic Fees: The platform will adjust trading fees based on market conditions, ensuring sustainability and profitability.
- Token Launch Platform: An integrated platform for third-party projects to introduce and auction new tokens, which, if successful, will be immediately listed on DefiPlaza.
The project was envisioned and realized by its three co-founders:
- Jazzer9F: The project's visionary, with a background in electrical engineering and a longstanding engagement with the Radix community.
- UI_guy: Specializing in front-end development, he's responsible for the platform's user interface.
- djtrebel: Brings startup experience and a knack for community engagement, also associated with Astrolescent, a DEX aggregator.
With a focus on long-term sustainability, DefiPlaza intends to offer token swapping services that can continually generate income. By learning from existing DeFi platforms and their shortcomings, such as UniswapV3's LP performance, DefiPlaza plans to provide more reliable and profitable solutions for liquidity providers.
- Liquidity: $442 K
- Trade Volume: $80.3 M
- Fees: $102 K
- Trading Pairs: 124
- October 2021: DefiPlaza's launch on Ethereum.
- November 2021: Integration with the 1inch aggregator.
- February 2022: Website redesign.
- April 2022: WalletConnect implementation.
- July 2022: StablePlaza launch.
- September 2022: Bridge DFP2 to Radix.
- October 2023: DefiPlaza's Radix launch.