Decentralized exchanges provide the most seamless way to form markets for digital assets today. Current iterations can lead to undesired price movements rather than steady growth and participation for a specific community.
DAOfi aims to serve a small but fast and highly engaged growing audience of crypto creators that are launching small token markets with their communities. We are razor-sharp focused on serving such creators around the world with our v1.0 launch. Many community leaders within our network are blocked from launching token markets today because they see no fair way to provide liquidity for their token without rent-seeking actors coming in to destroy the early supply distribution on existing DEXes. Also, the speed and UX hurdles to existing DEX solutions make it difficult to be a small token creator today.
Decentralized exchange built on xDai.
Any type of price curve configurable by the formula y=mx^n, where m and n values can be set to any user's preference. This means that the token price will appreciate and depreciate according to a preset schedule based on how many tokens were sold.
They use the "Permit Pattern" which allows DAOfi to completely sponsor all gas fees on xDai on the user's behalf, making swaps completely free.
The use cases we foresee for the DEX include:
- Tokens for permissioned chatrooms
- Tokens used for access to web apps or content
- Token sales and all other token markets that have a small number of buyers but need a flexible AMM to provide liquidity
Problems worth solving
- Unfair cheap supply distribution and unsustainable price parabolas caused by 50-50 ratio AMM
- Lots of speed, failed TX and fee issues with using Ethereum mainnet for settlement. xDai is fast! We favored ETH and xDai as our go-to protocols because we liked the user-experience benefits of staying within MetaMask for one's ERC-20 assets, and MetaMask has clear dominant adoption among the early adopters of DEXes as of now.
Andrew Lee - Design & PM - alee (video)
James Young - Technical lead - jamesyoung - linkedin.com
Alex Lewis - Full stack and solidity - lexlewis1981
Nathan Ginnever - Solidity - NathanGinnever - linkedin.com
Adam Dill - Web3 Front-end - adamdill - linkedin.com
Josh Adams - Web3 Front-end - knewter - linkedin.com
📑 WP: docs.google.com
🗒 Deck: docs.google.com