Leading Solana DEX announces partnership with metaverse based finance protocol

By January 12, 2022Metaverse
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The metaverse is more than a movie concept. It combines all digital experiences a user might encounter, replicating many of the actions one would take in the real world, including the purchase of property, homes and clothing, and the customization of one's own space and avatars.

However, unlike a virtual ecosystem in a game, the metaverse considers financial data management and other transactions that can keep an entire economy running and simulate what a user would encounter in the real world. Without it, users are likely to miss out on the completely immersive experience the metaverse can offer.

Recognizing this fact has ignited a spark among financial innovators to learn what this means for fintech services in the new world. With cryptocurrencies being at the forefront of the alternative monetary system and other teams defining trading, lending and other financial tools, the question then becomes, "How will these ecosystems intersect in the creation of the metaverse?"

Although some still consider the need to conduct all engagements online to be at a point in the very distant future, consider the advancements that the COVID-19 pandemic has brought about in accelerating the pace at which consumers have gotten used to the digital world.

Soldex.ai, a platform leading the next generation of decentralized finance (DeFi) evolution through emotionless trading, has looked to a new partnership to address new audiences amidst metaverse rise. As an ecosystem enabling new investors to trade digital assets, a partnership with Project Larix will only accelerate creating a more extensive ecosystem, one that is already rooted in the metaverse.

Project Larix, a leading lending and borrowing protocol based on the Solana (SOL) blockchain, has created a series of risk management pools with NFT, crypto tokens or other synthetic assets used as collateral. The platform itself is audited and reviewed by SlowMist, a popular and reputable smart contract reviewer.

By partnering with Larix, both protocols will be allowed to extend their offerings, reaching a wider audience and demonstrating a greater spectrum of DeFi benefits. For Soldex, this agreement represents only one of the strategic partnerships the team has in store with top Solana protocols, with more being released in the coming months.

A DeFi evolution

The next generation in the DeFi evolution is emotionless trading, comparing hiring an expert while users sit back and watch. Soldex is bringing this to life on the Solana blockchain, with what is known to be the fastest, easiest and arguably user-friendly decentralized exchange (DEX). As a third-generation solution, concerns around order-matching that occur on centralized exchanges and trustless custody are resolved, and users gain access to the assistance of AI-powered bots to eliminate the risks traditionally common in the buying and selling of cryptocurrency assets.

One of the significant advantages Soldex has over today's DEXs is its basis on Solana. Currently, most DeFi transactions are conducted on the Ethereum (ETH) network, which, although powerful, can only handle so much congestion before fees become too expensive and transaction times too slow.

In contrast, Solana becomes a capable alternative, equipped to handle a suggested 65,000 transactions per second (TPS), a number significantly higher than Ethereum's 15 TPS.

The growth of a vibrant community

With success meeting all milestones in the previous year, Soldex has several remarkable accomplishments worth noting, including a total value of $1M with 150% APY in a SOLX-USDC staking pool on Atrix Finance.

While staking pools already offering clear benefits to investors, the team has set out a clear path forward to sustain numbers. The following 12 months are set to be far from quiet for the Soldex team, which shares details of their plans in their recently updated roadmap.

Their goals primarily focus on building the Solana DeFi community through the listing of SOLX on more exchanges, the release of new marketing campaigns on top DeFi channels, the setting up a global academy, and the establishment of new strategic partnerships to strengthen the underlying technology.

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