GM Rebels,
Today we’re thrilled to introduce Revoswap, the first native DEX deployed on X Layer — OKX’s L2 to Ethereum. Read on to understand our revo-lutionary take on DeFi and how we aim to rewrite the system.
Why OKX’s X Layer?
First, let’s address the elephant in the room. With so many options, why did we specifically choose to build on X Layer? This answer was obvious to us for the following reasons:
- Powered by OKX CEX & Web3 Wallet: OKX is one of the largest cryptocurrency exchanges in the world. Additionally, OKX also has built a highly successful Web3 wallet with billions in AUM. Both the CEX and Web3 wallet will be tightly integrated to X Layer, allowing easy flow of assets from these 2 avenues to X Layer. This means that our project and community will be supported by an abundance of liquidity allowing us (Revoswap and community) to flourish.
- Marriage of Ethereum, Polygon & OKX: X Layer was built together by both OKX and Polygon as a L2 to Ethereum. This means that this very network marries the technology and communities of the 3 top web3 entities in the entire world. By building on X Layer, this also means that Revoswap will be able to build for and serve the largest web3 pool of users in the entire web3 ecosystem.
- Strong Ecosystem Support for Projects & Communities: After talking to representatives at OKX, we know that the core team has a very clear vision and plan to make X Layer succeed. While these can’t be revealed at the moment, just know that there will be ample and substantial ecosystem support for projects and communities on X Layer. We are also confident that the OKX core team has what it takes to make X Layer one of the top L2s in the world.
Our team — Web3 Natives that built 100+ dApps & Billions in TVLs
We were one of the few teams OKX approached to build on X Layer. Here’s why:
We have an A-lister team (of more than 10 people) working on RevoSwap. Across our team, we have developers who are founding members of various dApps that have garnered billions of TVL. Our tech experience spans 100+ dApps (such as AMM DEX, NFT market places, LSD and MPC wallets) built across various ecosystems.
More importantly, we have the best community managers. People that know Web3 will understand that the community is EVERYTHING in web3. Our team are all web3 natives that understand the psyche and expectations of the web3 community. Together, we will work with you — to build a culture unique to our community.
What’s RevoSwap?
Revoswap is our brand-new Automated Market Maker (AMM) DEX, designed from the ground up to offer an incredible trading experience on X Layer. We didn’t just adopt Cyberpunk as a theme for RevoSwap purely for aesthetics. Rather, the Cyberpunk embodies our spirit/attitude to help individuals like you empower yourselves, where we build a decentralized empire — we simply rewrite the system together.
For us, everything we do is about you — the people. Here is how we aim to empower you:
Ecosystem longevity through maximum fees allocation for community
Web3 veterans have seen their fair share of projects with weak plans and execution that create a death spiral not only for the main goal they set out to be (an AMM/DEX), but also their token (with zero/bad utility) — that’s not us. Sustainability is the name of the game, and we are here for the long haul. This is why we optimise for ecosystem longevity with the following key focuses:
- Minimize project team fees: Bad projects always have one thing in common — a greedy project team that takes the lion share of the liquidity and fees. This approach is simply not sustainable for the ecosystem because soon liquidity will leak from the ecosystem. This is why our team aims to take the bare minimum fees to cover our cost of operations and R&D efforts to elevate the experience of X Layer users.
- Maximal fee allocation for you: From the 0.25% trading fees collected, up to 80% will be distributed back to the community, benefiting both liquidity providers and token holders. Our aim is to build a fee-switch into the protocol through which fees will go back to the community. At the beginning, our native protocol token is emitted as a means to build up thick liquidity, and to distribute governance rights. Once X Layer becomes a mature ecosystem, our team will opt to taper off emissions and rely on a fee-share model for our token holders. We have strong conviction that the fees generated on X Layer is going to be phenomenal, as we anticipate strong speculative activity on-chain. Fee-sharing will be substantial.
Incentivizing Holders to carry $REVO (through unparalleled utility)
$REVO token holders play a pivotal role in the governance of the future of DeFi on X Layer. As your role is critical, we have designed the incentive system to ensure that the rewards are proportionate to your dedication. $REVO token holders will:
- Exclusive Access to Launchpads: $REVO token holders will gain early access to unique launchpad projects built by us, as well as other top projects on X Layer. These highly-sought after projects include native money markets, leveraged yield farming, yield optimizers, and more.
- Integration with Future Partners: For X Layer to thrive, projects in the ecosystem need to work with each other. From day 1, our team has never meant for Revoswap to be a project built in silo. Rather, we will and have reached out to other top projects on the X Layer ecosystem for meaningful partnership. As an example of the benefits, in future, you can expect to earn airdrops from our partner projects by just holding $REVO tokens. This exponentially increases the utility and flexibility of the $REVO token.
- Fee Sharing and Token Burns: As a $REVO token holder participating in protocol governance, you’ll receive a share of the fees generated. The value of the fees would be magnified by Revoswap’s deflationary tokenomics — burning a significant amount of the fees.
Empowering you to make decisions (through governance system)
Users should be the ones to decide the future of Revoswap. There are philosophical and economic reasons to this:
Philosophically,
- The Cyberpunk in us wants to rewrite the system and shift the power away from TradFi large corps into your hands — our community. So, it is important we walk the talk and let you all play a part in governance.
Economically,
- Token holders will enforce governance by making decisions on issues like the rewards ratio
- This in turns incentivizes trading activities, which generates more fees for token holders
- This motivates token holders to continue being part of the governance, and perhaps acquire more tokens. As a result, a positive economic flywheel of net increase in demand for $REVO is created.
What we shared are just the broad details. You can expect more details to be shared in the coming days.
Ogle at RevoSwap Interface
As the top DEX on X Layer, we need to look the part. Let’s take a few peeks at the RevoSwap UI:
Mainnet Launch — XPOINTs & AirDrops
Our project is already live on X Layer Mainnet and users can use our faucet to claim gas fees for use. Users are able to immediately start forming LPs on our DEX to earn trading fees, and farms are available so that you can start earning XPOINTs.
Users will be able to stake on the following LPs to earn XPOINTS:
- OKB-USDT (Already live!)
- OKB-USDC
- OKB-wBTC
- OKB-ETH
- OKB-DAI
XPOINTs will affect the amount of REVO airdrops which you will be eligible for later on. Subsequently, on top of the abovementioned LPs, we will also launch smaller and fun LPs on our DEX such as memecoins and partner project tokens!
What’s Next — A series of Interconnected Worlds on X Layer
Revoswap AMM Dex is just the first of many projects that we will be bringing to you. We intend to create a series of interconnected worlds where you will be able to traverse to have fun and grow your wealth. To expand this universe, we will also be bringing on board like-minded and worthy partners to BUIDL together with us!
Tangibly, this means that your $REVO tokens are going to continuously grow exponentially in utility and value. This also directly contributes to helping grow the value of the X Layer ecosystem and the $OKB token.
We know that X Layer is going to be one of the top L2s in time to come, and we aim to be the Most Valuable Project that helps propels X Layer all the way to the top! Until that day, our team will continue building hard 24/7. Thank you, and we look forward to your participation in Revoswap!
Follow our Socials!
App: https://revoswap.com/
X: https://twitter.com/Revoswap_
Telegram Chat: https://t.me/revoswapx/
Docs: https://docs.revoswap.com
This is not an offer to sell or the solicitation of an offer to purchase any tokens, and is not an offering, advertisement, solicitation, confirmation, statement or any financial promotion that can be construed as an invitation or inducement to engage in any investment activity or similar. You should not rely on the content herein for advice of any kind, including legal, investment, financial, tax or other professional advice, and such content is not a substitute for advice from a qualified professional. This document contains hypothetical, forward-looking and/or projected figures which are not guaranteed and are subject to change.