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Yesterday WazirX had leave us with uncertainity of everything about their AMM Protocol launching on @maticnetwork
So today as a average User I will try to see far than announcement words with some Question, Anticipation, Suggestion, Critics.
Let's find out the meaning & purpose
So today as a average User I will try to see far than announcement words with some Question, Anticipation, Suggestion, Critics.
Let's find out the meaning & purpose
The Scaling solution of @maticnetwork
Plasma + POS based Multiple Side chains is Incredible innovation, no doubt.
And their solution not just written in whitepaper its a currently working & tested solution.
That's one of the reason why @WazirXIndia choose their base for AMM.
1/
Plasma + POS based Multiple Side chains is Incredible innovation, no doubt.
And their solution not just written in whitepaper its a currently working & tested solution.
That's one of the reason why @WazirXIndia choose their base for AMM.
1/
Partnership with @MakerDAO & @decentraland
Backed by @binance & @coinbase
and
Validators like @Infosys already telling us intuitive potential of @maticnetwork Scaling solution.
Lot of Integrations happening around on their L2 side chains, the network is emerging with pace.
2/
Backed by @binance & @coinbase
and
Validators like @Infosys already telling us intuitive potential of @maticnetwork Scaling solution.
Lot of Integrations happening around on their L2 side chains, the network is emerging with pace.
2/
Everybody knows how much big is
@MakerDAO & @decentraland ecosystem on the Ethereum.
Both Market Cap currently -
@CoinMarketCap @defipulse
$Maker - $694,091,508 & Total Value Locked in $1.43 B
$Dai - $416,440,668
$Mana $134,961,364 & alone in Ecosystem Digital assets.
3/
@MakerDAO & @decentraland ecosystem on the Ethereum.
Both Market Cap currently -
@CoinMarketCap @defipulse
$Maker - $694,091,508 & Total Value Locked in $1.43 B
$Dai - $416,440,668
$Mana $134,961,364 & alone in Ecosystem Digital assets.
3/
The Reason 4 show u this figures is because of giving u a better understanding of "why WazirX choose the @maticnetwork instead of choosing high Liquidity market of ETH Main Chain for making his AMM .
I think, I have already anticipated his step.
U should also know ABOUT this
4/
I think, I have already anticipated his step.
U should also know ABOUT this
4/
By arrival of AMMs like @UniswapProtocol @KyberNetwork @BalancerLabs
The Volume is eating CEX.
Ease of DEX usability is improving day by day, peoples love to interact with DeFi Dapps of ETH & this factor pushes to use more AMM for Token swapping but problem is high Gas Cost.
/5
The Volume is eating CEX.
Ease of DEX usability is improving day by day, peoples love to interact with DeFi Dapps of ETH & this factor pushes to use more AMM for Token swapping but problem is high Gas Cost.
/5
In Scaling context @maticnetwork has everything for making a Dapp accessible to the Million of users.
U can do transaction here with penny worth cost.
Same thing u can do with $Dai & $Mana token which is currently available for bridging from ETH Main Network to Matic Network.
/6
U can do transaction here with penny worth cost.
Same thing u can do with $Dai & $Mana token which is currently available for bridging from ETH Main Network to Matic Network.
/6
People can do Transaction with their $Dai & $Mana in very low Cost over Matic Network after in - boarding under Matic chain but for Token Swapping user have to go back on ETH network.
Their is no Order book Dex or AMM available right now for exchanging @maticnetwork Tokens.
/7
Their is no Order book Dex or AMM available right now for exchanging @maticnetwork Tokens.
/7
I think it's the biggest reason for launching AMM on @maticnetwork instead of ETH Network.
There are lot of space to cover & capture bigger market share earlier on Matic.
Some other reasons which forces @WazirXIndia to be in #DeFi.
1. Regulations, which hasn't any Clarity.
/8
There are lot of space to cover & capture bigger market share earlier on Matic.
Some other reasons which forces @WazirXIndia to be in #DeFi.
1. Regulations, which hasn't any Clarity.
/8
2. Dex & AMM volumes are increasing immensly & will bring million of CEX users in coming Days here.
3. Dex & AMM's are Easy to Use, No KYC, No Listing fees, Global Liquidity available & allow peoples to be a part of LPs for earning fees on Trades. - A Self sustained Eco.
/9
3. Dex & AMM's are Easy to Use, No KYC, No Listing fees, Global Liquidity available & allow peoples to be a part of LPs for earning fees on Trades. - A Self sustained Eco.
/9
4. #DeFi is now becoming important part of Crypto Market, No one can be isolate himself by not being a part of this Global Open Finance beyond State Boundaries.
That's why Earth's No.1 exchange @binance itself paving path for #DeFi by Binance Smart Chain to compete in the market.
That's why Earth's No.1 exchange @binance itself paving path for #DeFi by Binance Smart Chain to compete in the market.
5. In this current time creating an AMM on @maticnetwork is like seeding a Tree on their initial days. So it mean with growing factor of Matic, WazirX AMM will also grow itself, more tokens on Matic, more they will use AMM for Token Swapping.
I wish this Experiment get successful
I wish this Experiment get successful
6. @WazirXIndia has currently advantage of their Existing User base, Collaborative support with Market players, Community support & Capital ($WRX) holding with they are ready for Incentivizing Liquidity Provider on Day 1st.
This advantages can be take shape of Usefullness of AMM
This advantages can be take shape of Usefullness of AMM
7. @WazirXIndia is betting on Growing ecosystem of @maticnetwork
Just visualize in your mind,
WazirX AMM + Filling the Gap of Token Swap on Matic
= Next Uniswap of Matic
It is sure that "Liquidity Mining" will be attract lot of peoples from the world to make this successful
Just visualize in your mind,
WazirX AMM + Filling the Gap of Token Swap on Matic
= Next Uniswap of Matic
It is sure that "Liquidity Mining" will be attract lot of peoples from the world to make this successful
Now Ending this Thread with some queries to @WazirXIndia Team. I hope I will get answers.
Question - Why you not disclosed the full Concept paper, due to this reason all this Threads are just imaginary Anticipation.
Question - Why you not disclosed the full Concept paper, due to this reason all this Threads are just imaginary Anticipation.
Critics - How u will make this AMM completely #DeFi thing with Centralized coin ($WRX), What will be the Tokenomics?
Can existing $WRX holders will be able 2 participate in Governance voting, if Yes
Then we can say this is Transition of $WRX from WazirX 2 AMM, A specific supply
Can existing $WRX holders will be able 2 participate in Governance voting, if Yes
Then we can say this is Transition of $WRX from WazirX 2 AMM, A specific supply
Suggestion - It look likes, this is right time to do this & If you have take this strong Decision for be a Player of #DeFi.
My Suggestion is - Educate & Incentivize more peoples for be a helping hands of New People about #DeFi
Create some more usecases for $WRX
#IndiaWantsCrypto
My Suggestion is - Educate & Incentivize more peoples for be a helping hands of New People about #DeFi
Create some more usecases for $WRX
#IndiaWantsCrypto
@NischalShetty @Shivfreespirit @acryptoverse @cryptokanoon @CryptooIndia @ThatNaimish @pushpendrakum @pankjtanwar @CryptoPointHi @cryptonewshindi @Shaanush @bitkashyap @Tabassumnaiz @1PriyaRatnam @nirajhodler @Ruch_9 @tapascrypto @sumitkapoor16 @SmallCryptoGuy @Dinscrypto
May be, I have give you any wrong fact, If you find anything like that. Please correct me.
And please comment your views.
How you see this anticipation.
And please comment your views.
How you see this anticipation.
