We’re excited to announce the launch of Sencha, a new decentralized exchange (DEX) built on top of the Solana blockchain. Sencha’s mission is to be the go-to place for discovering and trading new crypto assets. The interface was designed to be intuitive for veteran DeFi traders and first-time crypto users alike.
Sencha is a next-generation AMM protocol.
While Sencha appears to be a standard constant product AMM, the goal is to innovate upon the long-standing AMM norms. For example, all existing Solana AMMs use SOL and USDC as their main base pairs. We instead plan to use staking derivatives that provide more value to liquidity providers, and in the case of staked SOL actually help to decentralize the Solana network.
Sencha is leveling the playing field for new crypto assets.
Over the past few months, the Solana ecosystem has seen a huge uptick in new developers. The most recent Solana Hackathon saw a record-breaking amount of high quality projects across DeFi, NFTs, Web3, and Gaming. In order for new projects to rise amongst the old guard, they need focused liquidity provision. We see a unique opportunity to intentionally target up-and-coming crypto assets.
One of the ways we’re doing this is through a simple-to-use permissionless pool creator. Anyone can create a new pool with a shareable URL for liquidity providers.
Another pain point for new protocols is getting approved on Solana’s Token List. Currently, projects wait months for a maintainer to merge their pull requests. We plan to implement a system inspired by Uniswap’s Token Lists initiative that reduces the need for intermediaries while keeping users safe from malicious actors.
Sencha is now live on Solana’s Mainnet.
You can now swap between tokens and provide liquidity at sencha.so. In the next few weeks, we’ll be aggressively partnering with new assets to be the go-to DEX for their liquidity needs. Follow @SenchaDEX on Twitter for the latest updates from the team.
