Solomonic Exchange Announces the Launch of Dex Amm Platform with DeFi
Solomonic Exchange to Announce the Launch of Dex Amm Platform with Defi Protocols on 2nd Of March 2021 | 17:00 Cet.
WILMINGTON, Del., Feb. 05, 2021 (GLOBE NEWSWIRE) — With the bull market pushing ETH price to $1,500 and the average network transaction fee climbing over $15, DeFi market heightens the entrance barriers for the traders and developers. Meanwhile, Solomonic Exchange announces the launch of the DEX AMM platform with a gas fee compensation mechanism, opening broader horizons for DEX traders.
Platform allows users to trade and exchange cryptocurrencies on Ethereum and Binance Smart Chain networks. Its primary goal is to ensure each user’s fair right to vote for the platform’s future in the governing DAO and democratize trading for the market participants.
MAIN FEATURES ANNOUNCED
Solomon’s Gift is a token allocation mechanism, which links the extent to which users participate in the project’s governance to the frequency of the platform’s utilization and compensates the Gas fees for L1 users with the project’s tokens, REFUNDs.
REFUND is a platform-native functional utility token and is not and never will be subject to sale in form of public sale or private placement. Users can claim REFUNDs to their wallets as compensation for their Gas fees at the rate of 1 REFUND = 1 DAI.
The users of Solomonic Exchange would be able to stake their token in exchange for the time value of voting power and use it in curating the further development of the platform and addition of the new features. Thus, the most active users can have more weight in decision making.
The seed team of Solomonic Exchange includes Denis Smirnov, Roman Sivakov (Obitel Roads, Fintech & DeFi R&D Laboratory), and Guy Yanpolsky (YAFO Business Agency). Currently, the protocol is available in alpha version.