Another day — another DEX integration! The Algebra Team continues to offer different projects across all DeFi the best services when it comes to building a concentrated liquidity DEX from scratch. This time, we’re glad to welcome THENA — the native liquidity layer on BNB Chain, which is now fully equipped with the Algebra CL pack! Let’s review all the basic conditions of the partnership, and see what’s so special about THENA — the brand-new concentrated liquidity gem in the Algebra collection.
An Introduction to THENA
THENA is a trailblazing decentralized exchange (DEX) and liquidity layer built on BNB Chain, committed to revolutionizing the DeFi ecosystem. Offering a user-friendly, permissionless platform, THENA enables seamless token swaps and liquidity provision for a diverse range of assets. Their mission is to empower users and protocols with innovative solutions that cater to the ever-evolving needs of the DeFi space.
At the core of THENA’s offerings is FUSION, a groundbreaking concentrated liquidity solution developed in collaboration with Algebra & Gamma Protocols. FUSION redefines capital efficiency, dynamic fees, and limit orders, providing an unparalleled DeFi experience for users, traders, and protocols alike.
BNB Chain has, over the course of the last half decade, grown and developed massively from its original launch in 2017. In 2022, BNB Chain has a unique value proposition — one which is impossible to ignore. The fundamental architecture has gone through a substantial evolution since inception, prioritizing a shift towards modularity. Launched on Binance in the late 2022, THENA drew inspiration from Solidly, which is an Automated Market Maker (AMM) and a liquidity layer originally built by Andre Cronje on Fantom — offering low-cost, near-zero slippage transactions for highly correlated and uncorrelated tokens.
At this point, the Thena Team decided to go even further, and take a deep dive into the future of decentralized finances by integrating our own solutions.
The revolutionary partnership will not only bring another Concentrated Liquidity DEX on the BNB Chain, but will also change the whole DeFi landscape — with such statistics, liquidity is set to be boosted easily in the first couple of weeks! Take a look:
- Thena’s TVL: $95M
- Circulating Market Cap: $5.2M
- Circulating Supply: 18M
- 24 Hour Volume: $9.9M
- Total Locked $THE: 35M
And all of that before the integration of the Algebra-built tech is completed! Keep an eye out on the Thena’s stats — it’s going to be massive.
Not to mention that the integration wouldn’t be that precious without the Gamma Strategies’ part — with its Active Liquidity Management solution, Gamma’s smart contracts automatically manage the prices ranges, rebalances assets, while LPs earn $THE based on gauge votes. Gamma is built with modular components consisting of a Uniswap position manager contract called a hypervisor, which contains a set of functions that are able to be called by an active manager or Supervisor contract. Check out our recent article on the Algebra x Gamma Integration!
The Integration Perks
The THENA Team is committed to pushing the boundaries of innovation, striving to create the ultimate DeFi experience for liquidity providers (LPs), traders, and protocols.
Their ve(3,3) model works in harmony with the new features, completely transforming the DeFi landscape.
FUSION brings together:
- Gamma: Delivering a composable and retail-friendly platform, we eliminate barriers to entry for users of all levels.
- Algebra: Enhancing revenue for veTHE holders through dynamic fees and achieving 10x capital efficiency via concentrated liquidity, we ensure top-tier price execution for traders.
- ve(3,3): Providing the most cost-effective liquidity layer for protocols, adding value to emissions, and enabling effortless pool scaling.
We’re happy to provide our solutions to even more diverse projects, and are thrilled to conquer another blockchain, which is Binance. See even more exciting collaborations in the future.
About Algebra
Algebra is a Protocol allowing projects to implement the Concentrated Liquidity tech, along with other groundbreaking features. Already integrated into QuickSwap, StellaSwap, Zyberswap, SpiritSwap, THENA, and 4 more DEXs on different chains, Algebra helps them acquire higher volume & raise the capital efficiency.
