Introducing UniDex Labs™
Expanding our horizons
UniDex was founded to provide a better trading experience for traders on any network they choose. Part of that comes from saving money, saving time, or even having new ways to access money markets. We want to expand on our ability to do all of these things while still retaining our original image of a project designed to offer the pinnacle of efficiency for traders.
We have been secretly working on multiple new products that will fall under the UniDex Labs brand, and today, we will unveil 5 out of the many new additions coming to the UniDex brand. A new super market-order aggregator on 20+ networks, an extremely efficient auto harvester and compounder, exotic trading pairs, perpetual based leverage contracts, and an alternative simple to use interface for our aggregator.
We’ll start with things close to home and then get into something that branches out to more markets than our current audience.
UniDex Aggregator V2
We wanted to build market aggregation that doesn’t bias liquidity or routing. We eventually realized a fundamental flaw when helping our friends on Fantom included in current aggregators. Finally, some sources weren’t added because it “wasn’t worth their time.” This notion went entirely against our company vision to allow anyone to get liquidity anywhere, no matter how small or large. So we thought, “we build and help the little guy… why not just do this ourselves and show the suits how it’s done?”. And thus, UniDex has entered the aggregation market as a superior competitor to current-day solutions.
We wanted to follow our original vision and work up from there. We support the current big three aggregators as we always have and their DEX’s; however, we have also added smaller but hard-working projects as a source of liquidity. For example, our friends on Paintswap and SoulSwap have been integrated into our new aggregator while still pulling liquidity from each aggregator and existing supported DEX’s. So far, our new aggregator supports 20 different networks (ETH, BSC, Polygon, Fantom, Avalanche, Arbitrum, Optimism, Gnosis Chain, Harmony, Cronos, Aurora, Moonriver/Beam, Metis, Heco, OEC, Celo, Boba, Fuse, IOTEX, and Elatos) with more being added as they come. We also wanted to make it easy for new projects that we may have missed to be included in our aggregator and design a system to add them post-launch easily. Any upcoming or existing projects can send a message with a few details and have a quick turnaround of a few days to have traders aggregating liquidity from their DEX.
We thought this would be a great time to start including a market order API available for builders and algo bot traders. Upon release this upcoming month, anyone will be able to integrate the most expansive DEX aggregator in minimal time.
With our market order API releasing soon to the masses, we also wanted to take this time to expand our audience. We’re releasing an utterly open-source interface designed for fast and straightforward trades. We want to keep the identity of the main terminal for advanced power users and not bottleneck the tools provided to users. In doing so, we’re releasing a simple to use and understand platform for users to swap quickly and fast. This platform will be separated from the main terminal and extremely lightweight to run fast and smoothly on mobile devices and low-power laptops while still powerlifting the liquidity of the entire network. The repo will be available soon under the UniDex Labs GitHub, where contributors can improve the platform with an extensive color palette of ideas and thoughts.
Our main goal for UniDex users has been to save them time and money. So we looked at current pain points in our existing ecosystem and walked through popular investment strategies. We noticed something odd about the efficiencies of the auto compounder scene and its flexibility. Sometimes, a user doesn’t want to auto compound and intends to use harvest rewards for another farm, hold another asset, or even more money.
UniDex can deliver capital-efficient auto compounding and harvesting automation tools to the ecosystem by introducing our new swap aggregator. By adding our aggregator in the equation and a relayer network, we can improve users harvesting rewards and save them time when playing different strategies.
Let's break down some scenarios…
Person A is currently farming TSHARE/FTM on tomb.com but wants to grow his position of UNIDX tokens. With our auto harvester, a user can deposit into a strategy vault that automagically harvests, swaps from TSHARE (spooky) -> UNIDX (SpiritSwap/SoulSwap/PaintSwap) saving gas and time for the end user while they sleep happy at night.
We can take this concept further once we allow cross-chain swaps by allowing a user to farm TSHARE/FTM on Fantom -> harvest TSHARE -> swap to USDC -> Bridge to AVAX -> deposit/single stake USDC into a lending platform on avalanche.
This is extremely useful for protocols for which you feel unsure about the market activity, but high APR numbers want you to try your luck. A user would enter and safely exit a position over time while compounding better rates than existing compounders or harvest into a better token.
Exotic leverage pairs
Something we have always wanted to do is introduce both exotic pairs and our leverage platform. We’ve built a leverage protocol on Fantom that supports lots of Fantom native tokens and existing blue chips like ETH and BTC, but also want to introduce market first trading pairs. Most platforms have the headline for any asset, but we wanted to really make this concept come to life by allowing people to trade exotic pairs like Runescape OSRS GP prices, Coronavirus cases, and more. This subsection of perpetual will be tradeable on an alternative interface to test the market activity. We think it’ll be a fun experiment that allows traders to test their skills to predict future outcomes using existing data and tools. We don’t have much to share currently on this topic as we’re reasonably close with wrapping up the original goal being the leverage platform, but we will share more when we’re ready.
We want to once again thank the community for allowing us to build out new innovative products for the DeFi ecosystem whether that be trading Runescape gold or building a superior aggregator. This was meant to be a short glimpse of the upcoming products being added to the platform and soon we will be sharing more. In total there are about 12 new things that are being introduced so be on the lookout for those!
Each section we talked about today will soon have their separate article this upcoming week explaining more mechanics, the limits, and just how awesome they can be for traders. Once more, thank you, and keep on trading!