The rise of Layer 2 solutions is an extremely positive development for Ethereum and the broader blockchain industry as a whole. These solutions enhance the scalability, convenience, and affordability of blockchain transactions, ultimately resulting in better user experiences and contributing to the widespread adoption of decentralized applications.
Why are we building on Base?
Base Network’s emergence as an Ethereum Layer 2 solution signifies a pivotal milestone in addressing Ethereum’s scalability challenges. With the potential to offer enhanced scalability, cost-effective transactions, and a roadmap towards decentralization, Base Network is poised to leave a lasting imprint on the cryptocurrency landscape. As it progresses towards its decentralized vision, the intriguing possibility of a native token launch adds an extra layer of excitement to Base Network’s journey, potentially unlocking new avenues for growth, innovation, and ecosystem expansion.
Are you ready to join the Citadel?
Citadel is a custom-built infrastructure, composed of a highly efficient and hyper-functional DEX that is designed to support the Base ecosystem by building a flexible and sustainable liquidity strategy, and a Launchpad, built to support new protocols launching on Base by providing the tools necessary for their launch, liquidity creation, and growth.
Our goal is to provide a secure environment for dApps like DEXes, lending platforms, and NFT marketplaces, by leveraging the underlying security of Ethereum, along with Coinbase’s best practices.
Citadel is not just aiming to become the leading DEX on Base, it wants also to become one of the leader launchpads of the entire chain, launching the most promising protocols and helping them grow and becoming the leading protocols of this blockchain.
AMM
Citadel AMM is designed in a simple, efficient, fast, cheap, and secure way to trade one ERC-20 token for another via our automated liquidity pools. With Citadel, you can trade with ease, knowing that you’re in control of your assets and that your transactions are protected.
To ensure that there’s always enough liquidity on the platform for smooth trading, we incentivize investors to provide liquidity by paying a big portion of a 0.25% trading fee to them whenever someone swaps their tokens on Citadel.
By allocating a consistent portion of our fees to buying back FORT and forming LPs, we will be able to ensure that as the platform scales in trading volume, it will help create deflationary pressure on FORT, resulting in a price increase over time. Citadel AMM is designed in a simple, efficient, fast, cheap, and secure way to trade one ERC-20 token for another via our automated liquidity pools. With Citadel, you can trade with ease, knowing that you’re in control of your assets and that your transactions are protected.
Dual-token system
The main problem that new DEXes face is that they’re considered a risky investment. In fact, liquidity providers usually pretend competitive yields, but considering that real yields come from trading volume, and trading volume doesn’t take off without enough liquidity, new DEXes can only provide competitive yields by rewarding liquidity providers with their dex-native token. This causes extreme inflation of the token which slowly but surely gradually destroys the token first and the whole protocol then.
Citadel aims to fix this issue by implementing a dual-token model, which comes from GMX’s successful escrowed-model, aimed at ensuring the long-term success of the protocol while allowing supporters to benefit from real yields through protocol fees.
Our protocol is powered by 2 tokens, FORT and esFORT:
- FORT is Citadel’s native token. It is the core of the protocol. Together with $esFORT, it can be earned as yield rewards on the various yield farms available on the protocol.
- esFORT represents a non-transferable escrowed token, corresponding to staked $FORT. It plays a significant role in creating a sustainable tokenomics strategy, in fact, farming rewards will be distributed in esFORT/FORT in an 80%/20% ratio. In other words, most of our emissions will require a vesting period to become liquid, ensuring that LPs are aligned with the long-term objectives of the protocol thus containing any short-term selling pressure.
But illiquid doesn’t mean unprofitable: esFORT allows its holders to earn dividends directly from the protocol’s earnings.
Citadel’s Launchpad
When we were building Citadel we knew that we had to face a lot of established DEXes and even if we still aim to be the leading protocol on the Coinbase L2, we realized that we had to provide something that was missing in the ecosystem.
That’s when we started putting a lot of effort into our own Launchpad, something that is still missing inside the Base community.
CitadelPad aims to become the main product for new projects that want to be helped with every stage of their development and reach the maximum experience in terms of Safety, Trust, and Balance, along with an established community provided by Citadel itself.
Citadel will provide support from the pre-sale phase (Tokenomics, Social engagement, Audit Reviews) to the post-launch phase (Listing, Post-launch marketing, Staking)
$esFORT utility on the Launchpad:
Holding $esFORT will grant you benefits such as:
• Participating in the First Phase of the FCFS/Whitelist Sale: $esFORT holders will be able to join the early launch phase, with proportioned guaranteed allocation.
• Discounted price in the First Phase: $esFORT holders will be able to join the sale with a discounted price
Governance: $esFORT holders will vote on what project to launch and the sale method used.
Are you ready to join the Citadel?
Twitter: https://twitter.com/citadelswap
Discord: https://discord.com/invite/B7D5NB7P
Main Telegram: https://t.me/citadelswap
Announcement Telegram: https://t.me/citadelswapnews
Linktree: https://link3.to/citadelswap
