Introducing Elix Finance
Elix introduces a new generation of decentralized exchanges (DEX) based on Fuel, the first modular execution layer powered by the innovative FuelVM. By leveraging a new approach to previous AMM designs alongside Fuel’s parallel transaction execution, Elix will provide high capital efficiency, flexible pools, automated liquidity and transactions at lightning speed and maximum security.
Currently under ongoing development, with this post the team behind Elix sets the stage for what is coming in the near future and introduces the features and characteristics of the DEX we are proudly developing in partnership with Fuel.
Elix is part of the first ever batch of Fuel grantees, participating in the newly founded Fuel Grants Program. In that sense, we would like to wholeheartedly thank Fuel and the Fuel contributors for their massive support on our development journey.
About Elix Finance
Elix is a hybrid automated market maker operating on Fuel, designed to allow highly efficient trading while maintaining low slippage. Fundamentally, Elix supports similarly priced, pegged assets as well as dynamic, non-pegged assets. This is realized through an advanced approach to our DEX’s bonding curve. Most importantly, we are eager to provide the most smooth and secure trading and LPing experience to our future users. That’s why the first version of Elix will fundamentally build on battle-tested AMM designs, mostly borrowing concepts from Curve.
Just like Curve has impressively demonstrated, our pools will provide automated concentrated liquidity. This will enable users to trade under ideal circumstances and at the same time will not require any further user involvement to perform the optimization of their liquidity. As Uniswap V3 shows, users are more often than not strained with the required dynamic adjustments of their liquidity positions. Thus, our automation of concentrated liquidity clearly grants the best of both worlds.
So, why would anybody want to utilize yet another DEX? The reason is that on top of combining the previously mentioned best-in-class DEX designs, we have the imminent benefit of being powered by the FuelVM. Thus, we are able to process transactions at unprecedented speed through parallel transaction processing, deliver maximum security through native fraud proofs and utilize developer tools which allow novel on-chain operations. This mix of capital efficiency, flexible pools, automated liquidity, advanced tokenomics (more soon) and transactions at lightning speed despite low fees provides the basis for our launch in the Fuel Ecosystem.
Road ahead
Although we still have our heads down designing the details of our DEX, we can already foreshadow what is coming in the near future. Developing in parallel with the Fuel contributors, we are looking forward to our launch on Fuel’s testnet to offer the first iteration of our dapp.
We are already excited to release more information soon. Also, we would be happy to meet you at ETHLisbon. If you have any inquiries, do not hesitate to reach out to Armand (@namakxyz) or Maurice (@mauricewbr).
Building on Fuel
Fuel is the fastest modular execution layer, a completely decentralized, non-custodial, censorship resistant, and permissionless network. Delivering unmatched processing capacity through its ability to execute transactions in parallel by using strict state access lists in the form of a UTXO model, Fuel can deliver far more compute, state accesses, and transactional throughput than its single-threaded counterparts.
