Introducing GemKeeper: A Security Audited DEX on the Oasis Network
We would like to welcome another successfully audited DEX to the Oasis Network! Earlier this week, GemKeeper.Finance announced the successful completion of their Peckshield security audit, making it the second DeFi protocol on Oasis to have completed an audit.
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The GemKeeper DEX supports standard AMM features that will allow users to swap tokens, enter liquidity pools, and create new liquidity pools in 100% permissionless manner. GemKeeper will also enable users to farm GemKeeper’s governance token, BLING, by staking their GemKeeper Liquidity Pool (GLP) tokens in the Gem Mine. GemKeeper is currently providing BLING incentive rewards for the following pairs:
Wormhole USDT/ Anyswap USDC
Multichain BUSD/ ROSE
By incentivizing a wide range of tokens bridged by both Wormhole and Multichain, GemKeeper enables the most popular crypto-assets across all of the top Layer 1 blockchains to come to Oasis and start earning yield. As more DeFi primitives such as lending, yield aggregators and others come to the Emerald ecosystem, this interoperability will become vital to the continued growth and success of Oasis’ Emerald Paratime.
As the network’s default ParaTime for EVM-based DApps, Emerald allows for cross-chain interoperability and offers full EVM compatibility and easy integration with DeFi. Oasis Network is scalable and ideal for DeFi due to its instant finality, 99% lower gas fees versus Ethereum, high throughput, privacy protection, and defense against MEV. Recently, Oasis announced the launch of the substantial $200 million Oasis Ecosystem Fund, supported by top industry backers to help build the future of DeFi apps.
GemKeeper.finance is a community-focused Automated Market Maker (AMM) & Decentralized Finance (DeFi) platform built on Oasis’ Emerald Paratime. Their vision is to build a one-stop shop, offering various DeFi applications which will fulfill any user’s DeFi needs in a simple and gamified fashion. GemKeeper’s first product will be their AMM, however, moving forward many more DeFi primitives will be added under the GemKeeper umbrella.
The GemKeeper team has been building in the Web3/Blockchain industry since 2017, mostly in the NFT and GameFisectors. This experience has led the GemKeeper team to have a deep appreciation for engaged communities, rapid innovation, seamless user interfaces, and gamification. These themes will be the values upon which the various GemKeeper platforms are built upon.
These shared values between the Oasis foundation and Gemkeeper, as well as the GemKeeper team’s history of success, led to their approval of an Oasis Foundation grant in January of this year. The Oasis Network has always had a long-term vision of bringing open finance to average users and we are excited to support GemKeeper as they contribute to making this vision a reality.
To learn more about GemKeeper’s initial launch plan check out their recently released blog post! Also, be sure to follow GemKeeper’s social accounts here to stay updated on the most recent GemKeeper developments.