EvryNet DEX2.0: Connecting CeFi and DeFi

Overview

Evrynet is a smart routing blockchain platform conceived and developed in partnership with Kyber Network and Stellar. Evrynet’s vision is to build CeFi & DeFi platform for financial services and provide developers to build dApps.

On March 10th, Korapat Arunanondchai, CEO of EvryNet, and Muharem Hrnjadovic, CTO of EvryNet with BitWell had great community sharing on the topic “Introduction to EvryNet and EvryNet DEX2.0: Connecting CeFi and DeFi”.

EvryNet DEX2.0

EvryNet's first dApp is Evry.Finance is a DEX launched on BNB Chain focused on bringing institutional investors into DeFi. This Dex allows users to Swap, Staking, and Farm their assets. And this exchange solves the problem of slippage with a combination of AMM and DMM.

DMM(Dynamic Market Making) is an exciting innovation, more capital efficient than AMM and slippage can be up to 100x better than AMM for more stable currency pairs. Integrating the DMM into the platform also allows Evry.Finance to implement dynamic fees and programmable pricing curves with the inclusion of a customizable gain factor.

In the second quarter of 2022, the project will launch a new decentralized exchange (DEX) called DEX2.0.

The first phase of the April launch will include the following key features:

A DEX order book is deployed on the Solana chain,
An API to connect trading bots easily and
Binary trading for an extended use case for $EVRY

Order book DEX on Solana

Currently, the AMM system on the DEX is relatively complete, but many traders still prefer to trade in the order book format. Evrynet brings the same trading experience as on CEX exchanges to the DeFi environment. However, it will still retain one of the key aspects of a DEX, which is that traders will control their funds, an important aspect of decentralization. This need is more urgent when it comes to large institutional investors. Therefore, this will be the first step towards our goal of building a true CeDeFi experience for retail traders and large institutions.

“Project Floodgate”: API interface for bot connection

The API system allows bot trading to work easily. Floodgate consists of three functional components:

Built-in OAS Format API specification with relevant supporting documentation
A trading bot named “sp1g0t” acts as a last resort partner and helps build order book depth
API server serving API integration

This API allows retrieving information from the market as well as placing and canceling orders. Working on Solana, the API provides a high-performance trading environment on Solana’s fast blockchain. This API also allows any trading bot to specify a price and without slippage, stop loss & stop-limit orders or “immediate-or-cancel” or “post-only” orders.

BONUS transaction

BO (binary options) trading launches on the BNB chain, which is an interesting way for token holders of $EVRY to use tokens that have the potential to earn more by predicting the price movements of other tokens. In the future, the Evrynet team will support BO trading for more assets.

EvryNet’s Next Plan

In addition to DEX2.0, the project will also have an interesting exchange incentive referral program, which will also be tied to NFT. For the throughput rate for the DEX, Evry is also partnering with Stanford’s Future of Digital Currency, which also gives access to SPEEDEX technology that can increase the speed of the DEX to be able to process transactions up to 100k tps. There are also many exciting new partnerships that we will be announcing soon.

Conclude

The Evrynet team recognizes the difficulty any project faces when it comes to needing its tokens to access a highly liquid environment. For CEX exchanges, there are many problems to overcome before being listed as well as other high costs before being listed. EvryNet will become a particularly attractive environment for traders allowing them to trade crypto assets with high liquidity, not affected by slippage, and also provide the option to connect to trading bots With these features, Evrynet will provide a comprehensive network solution for users with great experiences in the upcoming DEX2.0 update.

See ya in the next article !

Don’t forget to follow useful articles about Crypto Market from team Holding B !!!