Energi X Is Being Put On Hold
With our recent launch of Energiswap, we have brought to market a low-cost and very user-friendly exchange. In light of this, we have made the decision to place the Energi X project on hold for the time being, since we are already accomplishing our mission with what we feel is a more powerful platform.
In the article below, we discuss how we came to this decision and explore the positive implications for Energiswap and our growing DeFi product suite.
Our Reasoning
The crypto space is constantly evolving and one of our core values is to remain agile and adaptive to that evolution. This means regularly reevaluating our strategy to ensure that it is in line with our mission of growing value for Energi and driving global adoption.
This dedication to adaptability is behind our decision to pause development on Energi X. Since the start of the project, changes in the broader crypto landscape and in our internal strategy have resulted in a shift in focus to Decentralized Finance (DeFi). This is why we decided to prioritize the launch of our decentralized exchange and automated market maker, Energiswap, ahead of Energi X.
With the highly successful launch of Energiswap, we have accomplished much of what we aimed to do with Energi X in a more efficient way. Adding new tokens to a centralized exchange requires significant effort and time. In just two months, we have added over 180 assets to Energiswap and with more to come. We also plan to roll out liquidity farming, synthetic assets, and options trading in the future. Once in place, these will deliver a complete, powerful trading experience to our users with all the benefits of decentralization and the Energi blockchain.
Expanding Energiswap’s features and growing the liquidity and trading volume on the platform is now our highest priority. By placing the Energi X project on hold, we are able to dedicate more of our resources to making that happen. We can also accelerate the work on our Energi Bridge and Energi Synthetic Assets products, which will both be major incentives for users to migrate to Energiswap.
What This Means for Energi
In the short term, this decision means that we are in a much better position to fully capitalize on the initial success of Energiswap. As we continue to expand the features of the platform, we anticipate that it will become a primary driver of liquidity for Energi. With that in mind, the faster that we can meet our goals for Energiswap, the better.
In the long term, this move will support our updated strategy of establishing a strong presence in the DeFi space. Building on the unique user protections, low fees, and other advanced features of our blockchain, we aim to create a thriving decentralized ecosystem powered by Energi.
As Energiswap continues to grow, we will continue to evaluate our strategy. If we feel that Energiswap is able to provide all the value and features of Energi X, we may phase out Energi X entirely. If we still feel that Energi X would add value for our users once the release schedule for Energiswap stabilizes, we will revisit the matter.
Summary
After the recent success of our decentralized exchange, Energiswap, we have made the decision to focus fully on our DeFi offerings. As part of this, we are placing the Energi X project on hold. This will allow us to dedicate more resources to fully capitalize on the success of Energiswap and continue to enhance and grow the platform.
We firmly believe that decentralized trading is the future. Our aim for Energiswap is to provide an experience that surpasses anything currently available in the space. With the full power of our development team working on our DeFi product suite, we are now well-positioned to deliver on that goal.
