SheepDex to Launch on Binance Smart Chain, Bringing 1st Concentrated Liquidity DEX to the Growing BSC Ecosystem
SheepDex, the 1st concentrated liquidity DEX that integrates spots and derivatives in the Binance Smart Chain (BSC) ecosystem, will be officially launched at 13:00 UTC on 10 October, 2021. Audited by CertiK and powered by the advanced automated market-making (V3 AMM) mechanism, SheepDex will offer a safe and outstanding user experience, as well as triple incentives for liquidity providers and traders.
Redefine DEX by cultivating the most important part of DeFi — — liquidity
Based on BSC, SheepDex not only allows for fast transactions with low gas fees but also introduces several innovative features that are not yet available on other DEXs in the BSC ecosystem，such as concentrated liquidity, multiple tiers of fees, range orders, and triple incentives.
With these functions, SheepDex effectively achieves higher capital efficiency, better liquidity and lower slippage, standing out in the increasingly competitive landscape of DEXs. LPs can adopt more complex strategies to actively manage their liquidities and obtain higher returns, while traders will have smoother trading experiences.
1. Concentrated liquidity with customised market making ranges lead to higher incomes for LPs and lower slippage for traders
On SheepDex, each liquidity provider (LP) could provide all capitals to the range where most transactions occur within a certain period, instead of to (0, ∞) on other DEXs.
This leads to better depth in the range, especially for trading pairs of stable coins. It’s perfect for large transactions as the slippage will be significantly lower. LPs can also earn the most transaction fee rewards, and to maximise their capital efficiency.
2. Take advantages of range orders to buy the dip, take profit or conduct ITO
SheepDex offers more than just swapping between tokens. The range order function allows LPs to provide liquidity of a single token to a price range higher or lower than the current market price. When the market price enters the specified range, one asset will be sold to another along a smooth curve, making it possible to buy the dip, take profit or even conduct ITO on SheepDex.
3. Flexible fees to hedge against impermanent losses
Unlike other DEXs just with one fee rates, SheepDex has three tiers of fee rates: 0.1%, 0.2%, and 0.5%. This enables LPs to get more benefits if they bear more risks of impermanent loss, and vice versa.
4. Triple incentives to maximise LPs and traders’ income
SheepDex provides triple incentives at the same time, including LP rewards, yield farming and transaction rewards. This incentive mechanism is also the only one in the BSC ecosystem.
What is more, SheepDex also adopts an improved oracle with time-weighted average price to reduce gas fees.
SPC tokenomic to encourage long-term token utility and community engagement
The native token of SheepDex is SPC, with a total supply of 90 million. Mining incentives accounting for 70% are generated with blocks while the other 30% are minted at once with 4 year linear vesting. Each block generates 3.5 tokens, which will be reduced by 20% every 90 days.
25% of the transaction fee will be used to repurchase and burn SPC. Other repurchase and burn mechanisms will also be launched soon. Together with the reduction, these make SPC a true deflationary token and help SPC holders capture SheepDex’s economic benefits.
In addition to that, there are other utility benefits for token holders. SheepDex will launch a new IMO function in Q4, and users will be able to stake their SPC tokens to receive rewards of other protocols’ tokens.
SPC holders can also participate in the governance process to vote on key decisions for SheepDEX such as protocol parameters, rewards emission schedule, token listing, yield farming options, IMO, etc.
Continue to strive — derivative trading is on the way
Spot trading is only the first step of SheepDex’s exploration in the DeFi world. SheepDex’s goal is to provide users with the most “CEX-like” trading experience in DeFi, and derivative trading will be launched in the second phase, making SheepDex the most comprehensive DEX.
The derivative trading is also something that very worth looking forward to, as it offers zero funding rate of perpetual contracts through the vAMM mechanism. A special price rebase mechanism ensures that the price will not deviate too much from the spot price, and also provides arbitrage opportunities.
The road ahead is long, and striving is the only way forward. In this fast developing DeFi world, SheepDex will start a new chapter of DEX, and bring long term value to supporters and users.
To learn more about SheepDex and have a deep dive of its features, please visit the official website or join the community:
Website: https://SheepDex.org
Twitter: https://twitter.com/SheepDex
Medium: https://medium.com/SheepDex
Telegram: https://t.me/SheepDex
