Category: NFT News

Evo Exchange: Defragmenting DeFi

By Published On: April 11, 20245.1 min readViews: 5200 Comments on Evo Exchange: Defragmenting DeFi

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PRESS RELEASE

Published April 5, 2024

MARJURO, MARSHALL ISLANDS / ACCESSWIRE / April 5, 2024 / The world of decentralized finance (DeFi) is about to take a giant leap forward with the upcoming launch of Evo Exchange. This new platform aims to tackle the current fragmentation within the DeFi ecosystem head-on, promising a more integrated and seamless trading experience for its users.

Bridging the DeFi Divide

Today’s DeFi landscape is a patchwork of platforms. Want to swap tokens? Head to Uniswap. Looking to lend or borrow? Aave’s your go-to. And as for options trading, you don’t even know where to go. Evo Exchange plans to change all that by offering a solution that provides a centralized exchange (CEX)-like experience on a decentralized exchange (DEX) framework. Evo Exchange will allow users to take advantage of everything DeFi has to offer, across a plethora of blockchains, without even realizing that they are using every functionality and every blockchain.

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A Unified DEX Experience Awaits

Come to my page!

At its core, Evo Exchange is not just another DEX; it’s a bridge connecting the fragmented islands of the DeFi world. Launching with an off-chain central limit order book, on chain execution, and margin and shorting right out of the gate, Evo Exchange aims to quickly expand its offerings to include perps and traditional options trading. The ambition is clear: to weave together the liquidity from various blockchains into a single, seamless fabric, enabling users to trade, borrow, and lend without the hassle of navigating multiple protocols on multiple blockchains.

From Fragmentation to Integration: The Evo Roadmap

Evo Exchange’s development roadmap is meticulously designed to gradually enhance its offerings and achieve its vision of DeFi space unification:

Version 1 of Evo Exchange includes regular trading functionality, margin and shorts, and limit and stop orders. V1 is a high performance exchange providing no trading fees for spot trading and gas-less limit and stop orders. V1 also doubles as a lending/borrowing platform, where users earn on assets deposited as other users can borrow them for margin trading.

For Version 2, Evo Exchange will launch option trading and perpetual options. At this point, Evo Exchange will have the same trading functionality as any available CEX, but in a decentralized exchange.

Evo Exchange’s ultimate transformation involves tying together the liquidity of every blockchain that it has launched on. Using its off-chain orderbook and on-chain execution logic, all blockchains will be interconnected and users will be able to trade across all different blockchains without even noticing they are doing so. Unifying the liquidity across the different blockchains finalizes the fragmentation of the currently fragmented DeFi ecosystem, eliminating the need for centralized exchanges and altogether replacing them.

To begin with, Evo will launch on Polygon zkEVM, a low cost, high performance, secure chain. Aside from the chain performance, Evo has chosen this chain due to Polygon’s revolutionary AggLayer, which provides shared cross-chain liquidity, an ethos Evo holds in high regard. After the initial launch, Evo Exchange will target launches on a variety of other chains to eventually interconnect the DeFi ecosystem as a whole.

Introducing EvoX: More Than Just a Token

At the heart of Evo Exchange is EvoX, a governance and profit-sharing token. Ownership of EvoX equates to having a stake in the exchange, granting holders the power to govern the platform through decisions on smart contract upgrades, fee structures, and profit distribution.

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A Transparent Approach to Profits

Evo Exchange’s profit distribution model is designed with fairness in mind:

3% goes to corporate taxes
10% allocated to infrastructure expenses.
10% is dedicated to an insurance fund,
10% set aside for EvoX token buybacks.
67%, the lion’s share, is distributed among EvoX token holders

Governance by the People, for the People

EvoX token holders are the owners of Evo Exchange DAO LLC, incorporated in the Republic of the Marshall Islands.

Evo Exchange has a very unique governance structure to promote decentralization of the protocol. To begin with, voting rights will be capped to 10%. Meaning that anybody who owns more than 10% of the tokens will have any votes that go beyond the 10% cap allocated proportionally amongst the other votes. For example, if any wallet holds 60% of the outstanding tokens their vote will count for 10% and the remaining 50% will be allocated proportionally amongst the remaining votes at the end of the voting period.

EvoX holders are able to vote and change any aspect of the Evo Exchange smart contract structure, profits, fees, orderbook/matching engine providers, buybacks, and any or all other changes they deem necessary or beneficial.

As the launch date of Evo Exchange draws near, anticipation is building for what could be a game-changing evolution in the DeFi sector. By offering a comprehensive and user-friendly platform that simplifies the trading, borrowing, and lending process across multiple blockchains, Evo Exchange is not just proposing an alternative to existing DeFi platforms; it’s setting the stage for a new era of decentralized finance.

Web and Social:

Website: https://evo.exchange
X (Twitter): https://twitter.com/EvoExchange
Discord: https://discord.gg/evoexchange
Telegram: https://t.me/+tLsXImM00HM0NTdh

Media Contact Details:

Company Name: Evo Exchange
Company Email: info@evo.exchange
Company website: https://www.evo.exchange/
City and Country: Majuro, Marshall Islands

SOURCE: Evo Exchange

View the original press release on accesswire.com

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