Welcome to DRX: First SocialFi DEX, exclusive + native to Gatechain!! 😛💊👨🏻‍⚕️🍄

Drxdefi

5 min readMar 4, 2022

Make DeFi fun again! First SocialFi DEX on GateChain 💊

What is DRX?

DRX is the first SocialFi DEX and LaunchPAD powered by GateChain.

We want to build a fun, friendly and user-first DEX and DeFi ecosystem that anyone can use.

A new prescription is needed 👨🏻‍⚕️

Crypto and DeFi are becoming a new world order
People want flexibility and freedom of assets
Everyone is tired of crazy gas fees
Preople want to spread their assets across chains

Crypto is currently too ETH dependant

Ethereum (ETH) primarily dominates DeFi:

60% dominance (JP Morgan, 2022)

While ETH is truly ground-breaking, public chains designed for generic use will fundamentally achieve scalability issues as they lack dedicated focus to pure finance use cases.
Sophisticated issuers and investors have concerns with ETH: Governance, Lack of absolute finality of transactions, Identifying investors with no built-in KYC and Custody

The Rest of the CryptoVerse Wants to Join…

Introducing DRX: SWAP, POOL + CROSSCHAIN DEX.

Let’s make DeFi fun again! We’ll take Gatechain and DeFi to new heights of what is possible.

Welcome to the complete DeFi Suite on GateChain:

Dr. X Swap: get your hands on the latest and coolest projects in the crypto space. Dr. X has you covered.
Farming: hot APYs, leading partners, and global minded farming! Get your DeFi fix.

Upcoming Components:

DeFi Playground: pools with crazy APYs and special features.
Launchpad: we make it easy to get on GateChain. Welcome to the global gateway to GateChain.

DRX Token Economics:

DRX is 100% on GateChain, and there is no pre-sale, only small VC allocation, and open access for everyone.

Token Supply

The 100 Million DRX supply will be put in circulation over the next three years:

30%: Mining Reserve
25%: DAO & Foundation
25%: Partnerships & Ecosystem
11%: Seed Investors
6%: Team
2%: Initial Community Contributors
1%: IEO or Listing

All token distribution details are subject to change.

Stage 1: Airdrop Mining Phase (4 weeks, up to 1% of DRX)

Coming soon!

Stage 2: Liquidity Mining and Ecosystem

One of the upcoming projects will be decided by a community vote.

Different liquidity pools have different weights, such that some will receive a greater portion of DRX tokens than others. This pool weight is flexible and can be changed via a governance vote or when new pools are added to the protocol. More details will be announced soon.

Special Long-term DRX HOLDER Staking Pool and DAO (10% in total)

We will announce more details soon. We will assign a time weight to our airdrop program. If you stake DRX, you will get DRX. But the longer that you stake, the more you can get.

Trading Fee and Token Burn System

There is a 0.3% trading fee. All trading fees help grow the ecosystem:

1/3 for purchase-back tokens
1/3 for development & innovation
1/3 for Liquidity Providers (LPs)

Burning mechanisms will be utilized to go with evolving market conditions.

*Details subject to change

Governance & DAO

DRX holders can use their tokens to vote on governance proposals regarding changes and upgrades to the protocol.

Lockup Structure

Total Genesis Supply = 100 Million DRX.

Mining Reserve (30%) = Liquidity + Trading Mining Rewards. Dynamic Vesting Schedule.
DAO & Foundation (25%)=Long-Term Innovation Development Fund, 36 months.
Partnerships & Ecosystem (25%) = Initial Membership + Partnerships, 30 months.
Seed Investors (11%) = Seed & Growth Fund, 18 months linear vesting
Team (6%) = 24 months linear vesting.
Initial Community Contributors (2%) = GateChain Users and Communities, 12 months
IEO or Listing (1%).

Built on GateChain for Doctor Recommended Swapping

For DRX, we want SocialFi to be front and center.
DeFi + NFTs should be accessible for everyone.

GateChain is a next generation public blockchain, with fast transactions, low gas fees, and DeFi-oriented. Focused on security, scalability, and interoperability, GateChain brings a massive built-in community from the world-class Gate exchange ecosystem!

DeFi Playground (Staking Pools Sneak Peak):

Farm Pools Sneak Peak:

About DRX