SmoothySingle pool with low-cost zero-slippage swapping and maximum interest earning.
Description
Smoothy.finance, single pool with low-cost zero-slippage swapping and maximum interest earning.
Due to explosive growth of DeFi, multiple assets were introduced into the Ethereum network as anchor coins, such as BTC, USD, and GOLD. At present, there are more than 20 asset-backed tokens in the current market, multiple among which are backed by the same assets. In the future, more tokens backed by the same assets are expected to be introduced into the network. The swap ratio between these tokens should be 1:1, theoretically, due to the backed assets mechanism. However, in the current DEX, the swap requirements were not fully considered when designing, which caused unnecessary high cost for users because of the slippage. Thus, a better designed product specialized in the same backed assets is urgently needed in the market.
Curve.fi and mStable are the two representatives that are dedicated to token backed by the same assets (including stablecoin). However they do not provide a perfect solution for slippage, plus there has to be a trade-off between high gas fee and interest earning in both designs. Our unique design allows the swap ratio of the same backed asset to be fixed at 1:1 for most of the time, makes the gas fee 80% lower than existing projects, and brings maximum interest to the liquidity providers at the same time.
Today, we want to introduce Smoothy, a product built upon SmoothSwap. It is a novel single pool liquidity protocol specialized in same backed assets with low-cost zero-slippage swapping and maximum interest earning.