MonoX, an AMM on the Ethereum and Polygon blockchains, has announced the formal launch of its mainnet platform, giving investors access to full swap and liquidity features. With the launch of this new service, Mono X aims to provide a premium and open framework for liquidity providers looking to launch their projects on the market, as well as traders looking to engage in token swap services.
Following the official release, the following liquidity pools will be in place at the time of launch: WBTC and Wrapped Ether are among the assets available on Ethereum, whereas Polygon has assets like Polygon (MATIC), WBTC, and USDC, as well as Tether and Wrapped Ether (WETH). Since projects just need to stake their native token while using the single-sided liquidity feature, they may provide the market with greater liquidity overall.
In an interview with Cointelegraph, MonoX CEO Ruyi Ren explained how the company is reducing the entrance barrier for new DeFi members by using single-sided liquidity pool innovation. “DeFi protocol capital needs are high because of the utilization of liquidity pairs. All you have to do is add your token to the pool using our design. Owners of projects may sell their tokens on exchanges without having to worry about meeting capital requirements, allowing them to put their resources to better use creating the project.”