Inspired by Celo’s mission to build a financial system that creates the conditions for prosperity for everyone, PolyDEX is thrilled to announce our plan to join the Celo ecosystem.
Celo is a mobile-first platform that makes financial dApps and crypto payments accessible to anyone with a mobile phone. PolyDEX is a fast growing platform with many winning components: a DEX with a very attractive trading fee, a launchpad with great IDO track record, a NFT marketplace, unique 4-type referral system and more.
At PolyDEX, we also believe in a future where everyone can prosper, just like Celo does. So this is what we are planning to do to participate and contribute towards this vision.
CeloDEX AMM + Aggregator
Our automated market maker is built upon the battle-tested Pancakeswap at Binance Smart Chain and PolyDEX at Polygon, offering traders and liquidity providers the best way to exchange tokens and earn trading fees with maximum flexibility and efficiency.
Moreover, CeloDEX will also be a DEX aggregator, giving users the most optimized token swapping experience with lowest slippage and best possible rate across all DEXs, via our multi-routing protocol. CeloDEX will aggregate UbeSwap and Sushiswap at the beginning and will expand further to other DEXes at Celo.
With a user-oriented approach in mind, we have built CeloDEX’s UI to display the multi-routing in real-time so you can view it clearly before confirming any transactions.
PolyLAUNCH — CeloLAUNCH launchpad
PolyLAUNCH is a decentralized multi-chain fundraising platform enabling projects to raise capital. We help to connect legitimate, capable teams with early stage investors and vice versa. With the expansion to Celo, CeloLAUNCH will help all good potential projects to launch on Celo while allowing users from other chains to join with ease.
Yield Optimization, Vaults, is always an important tool for both investors and projects. We are thrilled to launch CeloVAULT to provide investors the powerful tool on Celo with automatic high compounding interest rates on their liquidity. We also seek to onboard reliable liquidity farms, assisting projects in building their liquidity.
Performance fees accumulated from CeloVAULT will be used to support both CLX and PLX tokens throughout its lifetime.
Following the successful PolySTORE launch on Polygon, we will bring this NFT market to Celo, allowing users to sell, buy NFTs on the fly.
NFT Market will be launched a bit later at appropriate timing.
Any fees accumulated from the NFT market place will also be best utilized to benefit our ecosystem shareholders.
CeloDEX (CLX) Tokenomics
The official token symbol of the CeloDEX on the Celo blockchain is CLX. There will be 100,000,000 CLX tokens as the Maximum Supply.
The official token contract is 0xC7144Fa865c9f3a6836167A51531A2CC8b0ab5fD and the official listing price of CLX is set at $0.2.
CeloDEX creators have allocated 44,500,000 CLX (44.5%) for liquidity incentives (Farming) which begins on Friday, November 5, 2021, from 1 PM UTC.
On launch, there will be 11 official pools supported. To draw liquidity and to distribute tokens to farmers, CeloDEX is weighing its allocation in favor of the CELO/CLX pool. Users who supply liquidity to this pair stand to receive more rewards. The multiplier varies across pools, with CELO/CLX being the most rewarding with an allocation of X10, followed by CLX/cEUR and CLX/cUSD with a X6 allocation, and at third, cUSD/cEUR and CELO/cUSD have an allocation of X2. Meanwhile, liquidity providers of the WBTC/WETH, WETH/cUSD, WBTC/cUSD, MOBI/CELO, SUSHI/CELO, and UBE/CELO pairs will receive the same rewards proportional to assets locked at an allocation of X1.
20,000,000 CLX tokens (20%) are divided equally to cover the expenses accrued from platform Development (10%) and Marketing (10%) while 5,000,000 CLX (5%) has been set aside to the Treasury. Moreover, CeloDEX will distribute 20,000,000 CLX tokens (20%) as Vault Incentives. At the same time, 10,000,000 CLX (10%) has been allocated to the Main Reserve for Polygon PLX holders.500k CLX tokens (0.5%) of the total supply will be used to provide liquidity.
Moreover, CeloDEX will also offer a set of staking options for long-term $CLX holders, ranging from no lock, 7-day lock(x2), 30-day lock (x5) and 180-days lock (x10), with increasing distribution rates proportionally to the commitment period of choices.
With that in mind, PolyDEX / CeloDEX is doing everything we can to support and encourage an inclusive financial system that creates the conditions for prosperity for everyone.
Stay tuned for more exciting news on our socials
- Website: https://www.CeloDEX.org
- Telegram: https://t.me/polydex.fi
- Telegram: https://t.me/polydexannouncement
- Discord: https://discord.gg/WtksUPQSRm
- Medium: https://medium.com/polydex
- Twitter: https://twitter.com/polydexfi
Company name: CeloDEX
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Times of Chennai journalist was involved in the writing and production of this article.