L2X - dApp Staking Proposal

[Matt]

Dear Astar Community,

We are thrilled to introduce L2X, an innovative decentralized exchange and liquidity provisioning hub built on the Astar zkEVM. L2X stands at the forefront of decentralized finance (DeFi), offering a comprehensive suite of features that redefine trading and liquidity provision in the digital asset space.

Project Overview:

L2X represents a paradigm shift in decentralized trading and liquidity provisioning, merging concentrated liquidity with cutting-edge DeFi features to establish a DeFi DAO. Our platform is designed to empower users, fostering a community-driven ecosystem where every stakeholder plays a pivotal role in governance and evolution.

For more detailed info visit our 101 article: Introducing L2X: The Next-Gen Decentralized Exchange on Astar ZkEVM | by l2x | Jan, 2024 | Medium

Ve(3,3) Token Model:

Central to L2X’s ethos is the Ve(3,3) Token Model, a revolutionary mechanism combining Curve’s Vote-Escrow system with Olympus DAO’s (3,3) model. This model incentivizes long-term holding and active governance participation, ensuring that each member contributes to the platform’s growth and success.

Concentrated Liquidity:

L2X employs concentrated liquidity automated market maker (AMM) technology, enabling liquidity providers to strategically allocate capital within customized price ranges. This approach maximizes capital efficiency and market depth, enhancing returns and minimizing slippage for traders.

Comprehensive DeFi DAO:

Beyond traditional AMM functionalities, L2X offers a comprehensive DeFi ecosystem, featuring automated liquidity provisioning, innovative trading options like Option Tokens, and a user-centric tokenomics model. Our platform also includes an intuitive user experience and a community-driven development approach.

Launch (TESTNET):
We’re getting ready to launch our testnet campaign on zkKatana. You’ll get to try out our product and see if we’re ready for the dApp staking journey. Look out for our tester campaign too, where you can join and give us your thoughts.

Try out our testnet now: TESTNET link!

Usage of our dApp Staking rewards:

L2X is eager to participate in the Astar dApp Staking Program to further contribute to the growth and development of the Astar ecosystem. We are committed to utilizing staking rewards for initiatives that benefit the entire community, including:

1. Co-Marketing Campaigns: Hosting AMAs, giveaways, airdrops, and other community events to engage users and raise awareness about L2X.
2. Security Improvements: Implementing upgrades, optimizations, and updates to enhance platform security and protect user assets.
3. Engineer & Ambassador Program Costs: Supporting our dedicated team members and ambassadors who drive platform development and community engagement.
4. We are dedicated to bootstrapping the Astar DeFi ecosystem and have decided to set aside a portion of the L2X token supply for an airdrop to dApp stakers.

We believe that by actively participating in the Astar dApp Staking Program, L2X can contribute significantly to the vibrancy and success of the Astar ecosystem.

Join us on this exciting journey as we redefine the future of DeFi on Astar zkEVM!

Warm regards,
L2X team.

Visit our Website: TBA

Follow us on Twitter: https://twitter.com/L2X_pro

Join our Discord Community: l2x

Join our Telegram Community: Telegram: Contact @l2x_pro

Dive Deeper with L2X on Medium: l2x – Medium

Documentation: Introduction - L2X Pro

[VasaKing]

Patiently waiting for zKatana testing I like to see more and more DeFi dApps joining zkEVM

[Juminstock]

You just propose something that will be needed in a hurry after Astar zkEVM is on mainnet. From my side, you provided all the necessary information, I have read all the attached resources and definitely support the proposal.

[BoomBLB]

Thank you so much for your initiatives. It was cool and awesome =)

[Matt]

Thank you all for your kind replies. As we promised TESTNET is Live!

Post: https://x.com/l2x_pro/status/1759857371394785557?s=20

[souleater]

@Matt , Matt not many users understand with Olympus model. Need to explain things carefully.
Btw glad to see another DeFi on upcoming zkEVM

[Juminstock]

Really great! I love the graphical interface and the ease of the user to navigate through your application. I need your designer’s contact hahaha. congratulations Matt!

[bao]

I’ve used the testnet, and it’s cool!!
Do you have any campaign plans for when the Astar zkEVM mainnet is launching?
I think it would be effective in attracting users.

[Matt]

Documentation added: Introduction - L2X Pro

[Vangardem]

The mode Ve (3,3) is a bit complex, I like the project, but I would like to know what plan they have to mitigate the risk of slippage and control the issuance of tokens by the treasury, I know Olympus very well, and it has some design flaws, otherwise I love the project and I give my full support.

[Juminstock]

Great resource you share, Matt! I’ll personally take the time to read it because I’m interested in the project and its branding

[Leo]

Thank you for your application. I’m very eager to see strong projects in ZkEVM. I believe that the financial defi problem will be solved on Astar after ZkEVM. I would like to support your proposal while also raising some questions:

1. Are the creators of this project the same as Astrid Dao and Bluez?
2. Will we be able to access information about the team and developer group?

[Matt]

Yes we will definitely launch campaigns including Yoki too!

[Matt]

For VE(3,3), we introduce option tokens too, and the long-term stakers share more from the protocol revenue!

[Matt]

Yes, L2X core members are also from AstridDAO / Bluez team, with extensive experience in DeFi and one of the first ever team building on Astar Network!

[eraki]

Maybe I sound harsh, but to me, the VLS is a better product right now than L2X. (just from testnet, not reading the git yet)
Many spots to improve for L2X. Same swap method/technique, different UI/UX.
What makes you so different from VLS, that makes you think we need another DeFi swap right now other than the Olympus model? Because for me Olympus model (OHM) was cool, but exploited before.

Edit: The liquidity is kinda funny right now, try to swap between ETH USDT USDC and ETH back. Turn out getting more ETH than before. Shouldn’t swap take fees between each swap?

[Leo]

Thanks for information Matt, I am really wondering. Supporting.

[Gaius_sama]

List L2X in dApp Staking

• Yes
• No

[VasaKing]

Always in favor of new DEXes joining Astar dApp Staking Voted YES

[defiguy]

Hello! Very interesting project. I would like to understand more about the VE/bribes system related to the project. I think other DeFi projects are using concentrated liquidity like ArthSwap. What is going to be the main differentiation for L2X, and will they have an incentive testnet?

Thanks