PumpX: Next Level of xBank, From Lending to Multichain Consumer Liquidity

PumpX
3 min readJan 17, 2024

Starting with Blast, PumpX’s Native Yield on Staking Yields

TL;DR

PumpX, a cutting-edge multichain consumer liquidity protocol, is on a mission to revolutionize the utilization of idle funds scattered across diverse blockchain landscapes. By enhancing the financial infrastructure for consumer asset transactions on the chain, PumpX aims to elevate the depth and activity of on-chain asset trading.

xBank -> PumpX

In the Web3.0 world, a scarcity of financial infrastructure hampers market liquidity, leaving over $30 billion in idle assets in need of reorganization. xBank, since its inception, has been committed to simplifying crypto asset transactions, offering decentralized financial tools for investment and consumption in the crypto space. PumpX is inherited from xBank with a more innovative architecture to address the following critical market gaps in the current crypto ecosystem:

  1. Underutilized On-Chain Funds: Over $1 billion in assets within the Blast ecosystem alone generate native yields but lack comprehensive tools for efficient yield organization. This issue extends beyond to more than $27 billion in LSD on-chain staked derivatives.
  2. Inadequate Financial Tools: The surge in crypto users since January 2021 has outpaced the development of financial tools for on-chain assets. Less than 0.5% of NFT transaction volumes receive financial support from NFTFi tools, while real-world transactions see over 50% financed with various capital tools.
  3. Untapped On-Chain Asset Consumption Loans: Despite a $9 billion transaction volume in the 2023 NFT market, the largest on-chain loan protocol, Blend, only holds a loan balance of $36 million.

Consumer-Grade Liquidity Necessity

Consumer-grade liquidity means accesing cash to trade on particular assets. As crypto consumption grows, the demand for funds increases. However, there is no banking system in a decentralized world for credit scoring and allowing overconsumption. Consumer-grade liquidity implemented by smart contracts, mirroring real-world financial support, is crucial for facilitating crypto asset transactions, including lower down payments for high-priced NFTs, support for bulk purchases, and assistance in transactions involving assets of special value.

The Multichain Advantage

PumpX acknowledges that idle liquidity is scattered across different chains. To address this, a multichain, inter-chain borrowing model becomes essential. PumpX’s solution seamlessly allows assets on secondary networks like Blast to support transactions on the Ethereum mainnet, providing users with unmatched flexibility.

Pumping Blast as the Pioneer

Choosing Blast as the starting point for the multichain model is strategic. Blast is poised to offer a diverse range of on-chain assets and trading scenarios, with PumpX foreseeing a vibrant demand for funds. The Blast/Blur team’s proven expertise in spot trading and lending of NFT-bound assets positions it as an ideal pioneer for PumpX’s multichain model.

Roadmap for Transformation

In the upcoming Q1 and Q2, PumpX will transition into a full-chain consumer-grade “bank” through three key directions:

  1. Funding Level: Opening support for assets deposited from secondary networks beyond the ETH mainnet and Blast network.
  2. On-Chain Asset Level: Expanding support for non-blue-chip and utility-functional assets, offering white-labeled financial tools, and continuing the Boxdop token point plan.
  3. Product Level: Launching a fair launch platform based on the loan model, integrated with a robust token economy to support the issuance of new assets.

PumpX’s commitment to becoming a consumer-grade “bank” signals a new era in decentralized finance. With innovative solutions addressing market gaps and a strategic multichain approach, PumpX is poised to unlock the full financial potential of on-chain assets, creating a more inclusive and vibrant crypto ecosystem.

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PumpX

Pumpx is a multichain consumer liquidity protocol that pools together L2s liquidities for NFT trading |BN🔸MVB VI