Project Spotlight: Mobius, a cross-chain stableswap DEX
Visit Ubeswap to checkout the new $MOBI pool! Note the ‘Project Spotlight’ is an Ubeswap community initiative and the Mobius team is primarily responsible for the information contained in this article. The information in this post is for educational purposes only and should not be taken as financial advice.
Mobius Project Introduction
Mobius is an Automated Market Maker (AMM) with an invariant that specializes in low-slippage swaps between price-stable pairs. This mechanism provides more capital efficient trades between similarly priced pairs than that of a pure constant product invariant AMM like Ubeswap. At its core, the Mobius contracts are built from the Nerve Finance contracts with only the necessary modifications to support additional asset types and Celo native price feeds.
Q&A w/ Mobius:
What’s the goal of this project?
To provide a more efficient way to swap between price stable assets, and in the future any type of similarly priced asset ranging from pegged assets to interest bearing tokens like liquid staking tokens.
Why did you decide to build on Celo?
Celo with a decentralized finance ecosystem had no existing stableswap AMM that could provide capital efficient swap between stablecoins, nor an exchange that truly cross-chain.
How is the protocol designed?
The protocol is made up of two components, the core contracts and the front-end operated currently by the Mobius team.
What inspired your team to work on this project?
We were inspired by the Celo core user base and a noticeable demand among them to see more cross-chain liquidity, and more capital efficient swaps between stablecoins.
How can the community help or join?
We are always looking for core contributors and partnerships. In fact, we have set aside some tokens to support this invitation. Feel free to reach out on discord or twitter if you are interested in collaborating or contributing to Mobius core.
Roadmap
1–2 Months
- $MOBI Token Launch on Ubeswap
- Yield farming begins with the first round of incentives on cUSD/USDC and cUSD/cUSDT pools on Mobius
- Launch a Mobius bridge UI for Optics bridges.
- Add cETH/WETH pool
- Add cBTC/WBTC pool
- Announce partnership with AllBridge
3+ Months
- Introduce more pools
- Integrate with Solana Bridge
- Integrate with Terra Bridge
- Support (Terra) Anchor assets
- Announce roadmap for interest bearing and forex token swaps.
Team
Dylan Moors, Eric Ceullar, Kyle Scott, and Robert Leifke. You can reach them on their Discord.
Introducing $MOBI — the governance token for the MobiusDAO
The token will be launched by the MobiusDAO. The DAO will move towards decentralization once Mobius has sufficient TVL and a sufficient amount of active contributors to govern itself.
The token economics utilizes Vesting-Escrow Tokens to incentivize DAO participation via time locked staking. For the full tokenomics, please refer to the team’s announcement here.
Disclaimer from Mobius: The Nerve contracts have previously been audited by Certik and the team are in the process of getting the Mobius contracts audited as well. But as of today, the Mobius contracts are not audited. You can view the exact differences between their contracts and Nerve’s here. Also, bridges are a new technology, and should be operated with caution.
Liquidity Mining
To kickstart yield farming, 500,000 $MOBI per week will be rewarded to the CELO-MOBI Ubeswap pool. On Mobius, they are also launching $MOBI incentives on cUSD/USDC and cUSD/cUSDT pools. Read more about yield farming on Mobius here.
Token Distribution:
Looking to emulate the success of some most active communities in DeFi, Mobius is adopting a standard token distribution.
The MobiusDAO will deploy the MOBI token contract on September 17, 2021 with a max supply of 1,000,000,000 MOBI and the following distribution characteristics.
Contact Information
Join Mobius on Discord, follow them on Twitter, and visit their website
