Robodex, a DeFi based protocol, is now the latest on the list of projects in Chainlink BUILD – a program by Chainlink aimed to foster the growth of early-stage and established projects within the Chainlink ecosystem.
By having access to Chainlink services, Robodex aims to use the Chainlink BUILD program to accelerate ecosystem growth and long-term adoption of its next-generation decentralized exchange (DEX) with built-in, automated liquidity management services for liquidity providers (LPs).
In return, Robodex said it will commit to providing the Chainlink community with network fees and other benefits including making 3% of its total token supply at launch available to Chainlink service providers, involving stakers, over some time.
Robodex to Empower DEX Liquidity Providers with Automated Liquidity Management
In the world of DeFi, impermanent loss is one of those issues that needs curbing so as not to discourage upcoming liquidity providers. As a DeFi-based protocol, Robodex’s goal is to help DEX liquidity providers reduce their chance of suffering impermanent loss by improving the fundamental concepts behind the automated market making. In addition, Robodex plans to introduce decentralized-based, automated top-tier pool management tools, which will form the basis for the next-generation DEX.
‘’The enhanced access to Chainlink’s industry-standard services, and support from Chainlink Labs, is helping us to build Robodex, which will greatly empower liquidity providers. We do this without adding layers of complex hedging — that themselves introduce risk,’’ said Matthew Willetts, Co-Founder, and CEO of Robodex.
Robodex completed a pre-seed led by a Tier 1 Silicon Valley Venture Fund in June 2022. Aside from the protocol joining in on the Chainlink BUILD program, it also recently partnered with ChainML, a protocol working to extend the power of blockchains through AI, machine learning, and other data-rich computations.