Unveiling the 2024 Roadmap

2023 has been a year filled with numerous memorable moments and emotions for FlowX, as well as the entire Sui ecosystem. Together, we have overcome various challenges and celebrated shared successes. In this article, we will reflect on the journey that FlowX has embarked on in 2023. Furthermore, the subsequent section will provide insights into what lies ahead for FlowX in 2024.

FlowX official mainnet — The Ecosystem-focused and Community-oriented DEX on Sui

FlowX was officially launched on the mainnet on July 1, 2023, after undergoing a thorough development phase on Sui. With a strong emphasis on fostering a vibrant ecosystem and engaged community, FlowX Finance is committed to delivering valuable advantages to both users and the broader Sui community.

Focusing on Comprehensive Support

During the development process, we actively seek and value the feedback of our users and the community to continuously enhance FlowX. We have designed FlowX with the aim of delivering a comprehensive solution that caters to the needs of users, traders, and new projects on Sui.

To support traders: Many features have been developed and improved to create the best experience for strader such as:

• Multi-login: With Multi Login, users will find it easier to switch wallets when swapping, adding liquidity, and more on FlowX.
• DEX aggregator: Auto discover the best route with optimal slippage, so users do not need to worry about local LP slippage.
• Advanced Swap: Easy swap from one to many tokens and from many tokens to one token on FlowX.
• Bridge on FlowX: Users can diversify their options on-board to Sui ecosystem, bridge via Wormhole or cross-chain swap with HeroSwap.
• Real-time price chart and Analytics for trader.

To support projects:

• Farming as a Service (FaaS) allows projects to initiate liquidity mining programs to incentivize users to provide liquidity. Farming as a Service is a feature used by the Sui Foundation to promote liquidity mining.
• LaunchpaX enables projects to raise funds from the community.

These features have made FlowX DEX a popular platform for listing projects and users. Now, let’s take a look at the impressive statistics of FlowX Finance in 2023:

• Total Value Locked: $22M
• Total Volume: $42M
• Total Liquidity Provider: 20.6K
• Total Swap: 592K
• Total Pools: 130
• Total User: 39K
• Total Launchpad Campaigns: 3

Source: Suivisions

But, we believe that this is only the beginning.

FlowX Finance is being developed on one of the most promising blockchains of 2024 — Sui network. In the future, Sui will gain popularity and become well-known among developers, resulting in an increase in projects built on Sui. This presents a great opportunity for a decentralized, permissionless, and open exchange like FlowX Finance.

However, we will not just wait. With a carefully prepared plan, 2024 will be a year of significant changes for FlowX Finance, implementing core improvements to make FlowX Finance the top DEX on Sui in various aspects.

These plans can also be viewed as the 2024 roadmap of FlowX Finance.

Concentrated Liquidity Market Maker & Automated Liquidity Management

This is the proposed plan to improve FlowX Finance in 2024. Our plan is to launch FlowX v2 in Q2 using Concentrated Liquidity Market Maker (CLMM), alongside the current Automated Market Maker (AMM) version.

CLMM is a more efficient concept of AMM compared to the traditional UniV2. However, it’s important to note that not all tokens require CLMM, especially for new projects with low liquidity.

The AMM model using UniswapV2 is still widely used and trusted. In fact, Liquidity on Uniswap V2 accounts for 27% of the total Uniswap protocol liquidity, which is almost half of the Liquidity on Uniswap V3.

Uniswap V2 has undergone thorough market stress tests, making its code safer due to its simplicity. This is our main motivation to continue maintaining Uniswap V2 while also exploring the development of CLMM.

With the complexity of CLMM that it presents to users, FlowX Finance will also create an Automated Liquidity Management tool to automate strategies for Liquidity Providers, is expected to be launched in Q3 2024. This will set FlowX Finance apart from other DEXs that utilize different CLMM models.

We are not starting from scratch, but we will enhance its performance.

Decentralize Protocol through Govern and Gauge

Decentralization is also a key goal for the FlowX core team in 2024.

With the initial design of FlowX Finance, projects have the freedom to deploy liquidity and create farming programs for their tokens.

Once duo tokens $FLX and $xFLX are launched, FlowX Finance will have the opportunity to become a protocol governed and operated through user voting via the Liquidity Mining Program for the native token of FlowX Finance.

As you can see, so far, $FLX and $xFLX have not had any utility. However, this will soon change with the implementation of $FLX Liquidity Mining and Gauge.

$FLX Liquidity Mining — The foundation of FlowX Finance allows protocols to establish deep liquidity while still saving project budgets by directing $FLX emission to their pools:

• Each epoch, liquidity provider will receive $FLX emission proportionate to the number of votes the pool has accumulated.
• Participants can use $xFLX to vote on the allocation of emissions in the next epoch, becoming $xFLX voters.
• For $xFLX voters who do not wish to vote, they can delegate their voting power to those who want to vote via Bribe and receive passive rewards.

In conclusion, $xFLX will facilitate the fair distribution of emissions to liquidity provider on FlowX. This is anticipated to indirectly encourage LP to acquire $FLX in order to sustain rewards and motivation for offering liquidity to LPs.

Additionally, users who stake $xFLX will also receive additional rewards from emissions.

TLDR:

• Deploying the $FLX Liquidity Mining Program
• Holders of $xFLX have the authority to allocate rewards to liquidity pools, increase their own rewards if they are LPs or delegates to receive passive rewards
• Stake $xFLX to receive extra rewards.
• $xFLX is also used to participate in voting and propose changes for FlowX Finance.

Finally, enhancing the UX

With the vision of Sui, we expect an increasing number of users to embrace web3 and become web3 citizens. Enhancing user experience by improving UX is also a key focus for the core FlowX development team.

In Q2 2024, we will introduce the following features to provide a seamless and enjoyable web3 experience:

• Dollar-cost averaging (DCA)
• Limit orders
• Portfolio initial set and balancing

Okay, is that enough for 2024?

With a team of developers, it should be, but the marketing team at FlowX Finance will definitely keep working hard.

Here are some plans that the Business Development and Marketing team have outlined for 2024:

• Listing on a CEX and forming strategic partnerships with Market Maker.
• Supporting the incubation of new Sui development projects through LaunchpaX, similar to our previous support for the Sacabam team.
• Enhancing marketing activities through local ambassador groups.

Conclusion

The core team of FlowX Finance is optimistic about the potential of 2024 for the Sui and FlowX Finance ecosystem.

In the upcoming year, FlowX Finance aims to introduce substantial enhancements, showcasing its efficient operations and prioritizing user experience. It will streamline project onboarding onto Sui and establish itself as the leading liquidity DEX on Sui.

We highly value and appreciate the continuous support and collaboration of the community throughout the development journey of FlowX Finance in 2023. We are eagerly looking forward to the positive impact of the exciting roadmap ahead for FlowX Finance.