DEX V3
Swap currencies and earn rewards by providing liquidity as a Concentrated Liquidity Market Maker while taking advantage of L1 rewards.
Available on
Natively Incentivized, Concentrated Liquidity DEX
Ēnosys DEX V3 is a concentrated liquidity market maker (CLMM), utilizing smart contracts to provide liquidity provision and on-chain asset trading.
DEX V3 is based on the Uniswap V3 architecture, providing increased capital efficiency and flexibility over DEX V2.
Liquidity Providers on DEX V3 will earn fees from trading, L1 rewards (such as Delegation and Flaredrops), and a variety of liquidity incentives while in the active range.
Efficiently Trade Assets
Ēnosys DEX V3 utilizes a capital efficient Concentrated Liquidity Market Making (CLMM) model. For each token pair listed on the DEX, there are corresponding liquidity pools - smart contracts storing the assets provided by other users. Users may then execute trades against the liquidity stored in those contracts, paying a fee to the liquidity providers.
Flexible Liquidity Strategies
Ēnosys DEX V3 liquidity pools allow for strategic deployment of user liquidity. Positions can be created from a very narrow range to an infinite range. Positions can be created within the active trading range, or with a single asset outside of the active range. Users may also create multiple liquidity positions in the same pool, allowing for various strategies to be deployed simultaneously.
Compelling Returns
Liquidity Providers are key to the success of any AMM and therefore, must be adequately incentivised. Ēnosys DEX V3 LPs offer a multifaceted revenue stream in the form of Liquidity Fees, L1 Delegation/DIP Rewards, and natively deployed Incentive Rewards. Increased capital efficiency means concentrated positions earn more fees and incentives for their value.
Swap assets with deeper liquidity
Traders can select which tokens they would like to trade, view real-time charts detailing price history, volume, and available liquidity. Swaps are automatically routed through available liquidity pools to find the most efficient trade available, even for assets that do not have a direct pairing! All with reduced slippage and greater capital efficiency compared to standard AMMs.
Fees
Fees from each trade are taken in the form of the currency being traded, or in Enosys’ secondary governance tokens, and are claimable by the active liquidity providers. Fees are variable across pools, with some pairs having multiple fee tiers. There is a 20% protocol fee applied, split between the Enosys Team and the APY Cloud, adjustable via a Governance proposal.
80%
Liquidity Providers
10%
Ēnosys Team
10%
APY Cloud
Liquidity Pools
Anybody can become a liquidity provider on Ēnosys DEX V3 by providing one or both assets within a selected trading range. This liquidity position is represented by a Liquidity NFT which controls access to the underlying liquidity.
DEX V3 offers three suggested active ranges and a custom option:
- Aggressive : Liquidity is provided in a narrow spread across the current price.
- Conservative: Liquidity is provided in a broader spread across the current price.
- Full: Liquidity is provided on the full curve, like a V2 AMM position.
- Custom: Liquidity can be provided at any range, including single sided out of range positions.
Native Incentives
DEX V3 utilizes a native incentive system that rewards liquidity provided in the active trading range. Incentives come in a combination of the Enosys governance token Apsis (APS), Network incentives, and incentives provided by other product teams who want deeper liquidity for specific asset pairs. This system works on an epoch basis, where liquidity providers are rewarded proportional to their share of actively traded liquidity during the epoch.
