The sixth Decentralized Exchange (DEX) has just launched on Tezos. After Quipuswap, PlentySwap, Vortex, Spicyswap, and Alien DEX, we now can add Flame DEX to the list of exchanges on Tezos.
The Flame DEX Launch
The sixth Decentralized Exchange (DEX) has just launched on Tezos. After Quipuswap, PlentySwap, Vortex, Spicyswap, and Alien DEX, we now can add FlameDEX to the list of exchanges on Tezos.
Flame DEX is part of the Flame DeFi ecosystem. Their farming platform “Space Farm” has been live for several months now. Several new farms will be added soon as an incentive for users to add liquidity to token pairs on FlameDEX.
- FLAME / XTZ LP -> fDAO
- FLAME / USDtz LP -> fDAO
- FLAME / wUSDC LP -> FLAME
- FLAME / kUSD LP-> FLAME
- FLAME / wUSDT LP -> FLAME
- FLAME / fDAO LP -> FLAME
- FLAME / wWETH LP -> FLAME
- fDAO / XTZ LP -> fDAO
- fDAO / USDTtz LP -> fDAO
- fDAO / ETHtz LP -> FLAME
- fDAO / wUSDT LP -> FLAME
Fees on Flame DEX are 0.3%, from which 0.25% will go to liquidity providers, and 0.045% will be used to buy back the utility token FLAME, which will then be burned to increase scarcity of the FLAME token.
Third Party Audit
FlameDEX has been audited by Functori. Functori is a team of IT experts with a background in programming languages, formal verification, and blockchain technology, especially in Tezos.
The code review consists in reading the provided implementation, extracting a specification from the different functions and entry points, searching for faults, bugs, and attacks in the code, and challenging the specification to spot possible design issues. You can read the full audit here.
Roadmap: Lending-Borrowing, Play To Earn + NFT Staking
The Flame DeFi ecosystem will launch a lending-borrowing platform in Q1 – Q2 of next year. The platform will be called Control Finance, and will allow users to provide value in the form of Tezos-based assets for lending applications and earn interest over the provided loans.
Provided loans are submitted to a pool, which means that loans are not provided directly from specific lenders to specific borrowers. This results in the fact that lenders can withdraw their submitted loans at any time including the acquired interest.
On the other side of the platform, users will be able to submit a collateral and take out a loan against a floating (variable) interest rate. The interest rates are automated and will go up if the lending pool shrinks and goes down if the pool grows.
Control Finance will be governed through the governance token CNTRL. You can find more information about the presale of CNTRL tokens here. And you can find more details about Control Finance here.
Play to Earn: in July this year, Flame DeFi introduced the NFT character series “Spacefarmers”. Soon owners of these NFts will be able to stake them and earn revenue.
Flame DeFi is also developing a Play to Earn game in which these characters will get functionality. More details are not revealed yet at this point, but the platform is set to go live somewhere next year.
Please read an original article here.