fenixfinance

Vote $FNX on @BagsHackathon 3oqwPdGG4jMYb5L6zZ6WGLqm7QjooZDJtbutCpXhBAGS

$FNX CA : 3oqwPdGG4jMYb5L6zZ6WGLqm7QjooZDJtbutCpXhBAGS I just applied to the $4M @BagsHackathon with my project Fenix on @BagsApp Check it out here 👇 bags.fm/apps/8e40c7ab-…

I just launched $FNX on @BagsApp 💰 bags.fm/3oqwPdGG4jMYb5…

Fenix is eliminating the significant inefficiency, value extraction and complex UX that is associated with multiprotocol DEX ecosystems. Through a native voting incentives marketplace coupled to the Fenix Nest and quality of life upgrades like the automatic max-lock feature, Fenix can consolidate all of the functions that drive the entire Curve & Convex ecosystems within a single protocol to offer a better user experience for all users.

allows Fenix to supercharge revenue potential. Fenix has a powerful model that is not possible on other chains. Usually DEXs rely on trading fees and/or protocol incentives to generate revenue. This is also true for Fenix, however, through Blast Native Yield there is an additional source of revenue that will allow Fenix to more efficiently build and maintain liquidity for protocols and core ecosystem assets, which will facilitate the best prices on swaps for traders. Native Yield is an improvement in L2 technology that allows liquidity deposits of USDB & ETH on Fenix to accumulate underlying yield. By redirecting this yield through the RISE as protocol and user incentives and to LPs in FNX pools, the power and capital efficiency of the MetaDEX design is increased significantly. Through higher revenue potential that comes from Blast Native Yield, Fenix is improving the MetaDEX model with a goal to establish Blast as a highly attractive place for protocols to deploy and build liquidity amongst a highly competitive ETH L2 landscape.

The Power of a MetaDEX Our vision is a rich protocol ecosystem that has a capacity to exponentially grow by tapping into a much larger user base beyond DeFi or crypto natives. Traders will need deep liquidity to trade tokens and protocols will need liquidity to make that happen. will benefit from a decentralised economy that can effectively meet these needs, and where value distributed to users is unlimited.

A Revenue & Liquidity Engine Fenix will accelerate the advent of a DeFi economy, where real value is generated and distributed within an open and permissionless economic system that is underlined by robust and immutable code. The power of the MetaDEX model pioneered by Aerodrome & Velodrome shows that it is the most effective infrastructure to bring users, revenue and protocol liquidity growth on a new chain even in competition with “OG” protocols like Uniswap. fenixfinance.io

When building Fenix our fundamental question was this: 1) What is the most effective decentralised exchange (DEX) infrastructure we could deploy on Blast? To understand what would be best, we looked at the development of DEX systems over time. From pioneering automated market maker (AMM) advancements from Uniswap like UNIV2 & UNIV3 pools, to the design of vote escrow tokenomics from Curve that found alignment between liquidity providers and native token holders, and the creation of marketplaces for liquidity supported by auxiliary protocols like Convex, Votium and Concentrator. To ve(3,3), where the direction of emissions through voting became directly tied to fee distribution, allowing optimal incentivisation of both liquidity and fees. These developments are discussed in longer form elsewhere [1], [2], [3]. A more recent model emerged from these innovative protocols; a MetaDEX system that combines the best features of Uniswap, Curve, Convex, Votium, Concentrator and ve(3,3) into one platform. fenixfinance.io

4) Maximises capital efficiency through a complete voting marketplace for liquidity that provides vote delegation, optimisation and reward compounding through the Nest as a single protocol without additional fees.

3) It optimally aligns incentives between liquidity providers, traders, protocols and native token holders through the ve(3,3) voting system to drive a sustainable ecosystem.

The MetaDEX provides four important functions: 1) It creates deep liquidity for traders to provide the best prices on swaps. 2) Provides a system where protocols can build and maintain liquidity to incentivise trading of their tokens.