VOOI: Intent-Based Trading Across Multiple Perp DEXs at Your Fingertips

This article delves into the challenges confronting traders in the DeFi sector and examines the solutions provided by VOOI.

DeFi vs. CeFi in General

Imagine stepping into a vast, open field, stretching as far as the eye can see. This field is DeFi (Decentralized Finance), a place built on the intricate webs of blockchain networks, where everyone is invited to play, trade, and interact directly with one another, without any intermediaries.

Now, contrast this with stepping into a grand, imposing building. This is CeFi (Centralized Finance), the traditional fortress of finance where towering walls are guarded by gatekeepers — banks, regulatory bodies, and financial institutions. Business hours, bank holidays, frozen accounts. It’s all here.

At first glance, DeFi might have seemed like a sandbox, a novel space where tech enthusiasts could experiment with tokens that had no value and existed in the virtual world. To the traditional financial behemoths, it was a curiosity, perhaps even a bit of a joke — let the “IT geeks” have their fun with their “play money.”

But the winds of change blow swiftly through the digital realm. What started as playful experimentation quickly evolved into a powerhouse of innovation. Tokens, once mere playthings, began to wield real-world value. Projects that seemed like mere hobbies began to challenge the very foundation of traditional finance. DeFi became not just a playground, but a burgeoning marketplace, a community, and a new frontier for financial freedom.

Possibilities bring challenges and responsibilities. DeFi faces challenges such as market volatility, regulatory issues, and security breaches. It is evolving, finding new forms, and increasing its security and transparency.

Perpetual DEXs

DeFi is reshaping the landscape of asset growth with innovative tools and approaches, introducing fresh spins on the traditional financial game. A standout feature in the DeFi saga is the advent of perpetual DEXs. Picture these as virtual marketplaces where you can trade not just currencies, but also the future prices of cryptocurrencies, without an “expiration date” on these trades. It’s like betting on the future value of Bitcoin or Ethereum, but with the chance to leverage, meaning you could multiply your potential earnings (or, caution, your losses).

Each of these platforms offers its unique twist, varying in pricing mechanisms, liquidity, leverage options, and the range of supported assets and blockchains.

However, the very diversity of perpetual DEXs and networks, while offering a broad spectrum of choices, brings with it distinct challenges. This diversity can result in a paradox of choice, where an abundance of options may overwhelm rather than enable users. The vast array of details and variations across platforms can also lead to expensive mistakes.

Let’s talk about the most annoying user experience (UX) challenges in DeFi.

UX Challenges in DeFi

Stepping into the DeFi world can feel like entering a labyrinth — thrilling, certainly, but fraught with hurdles. Here’s a closer look at some of the most daunting obstacles:

• Lack of Integration and Standardization: The abundance of choices in DeFi is both a blessing and a curse. With each platform brandishing its own set of rules and tools, users can easily find themselves lost in a sea of confusion, increasing the risk of mishaps and missteps.
• Asset Management: Maneuvering through the DeFi universe requires juggling assets and open positions across a number of platforms and networks, each with its distinct interface and regulations. This patchwork landscape complicates maintaining a holistic view of investments, challenging users to track and manage their diverse portfolios efficiently and heightening the potential for mistakes and missed chances.
• Asset Movement: In the ideal DeFi world, shifting your assets across various chains should feel like teleportation — quick and secure. Right now, though, it’s more like trying to catch a series of connecting flights, with each leg posing a potential delay or hiccup. Traders are often forced to choose between security and speed, potentially missing out on trading opportunities.
• Gas Fees: In DeFi, ‘gas’ fees are what you pay to make transactions happen. But here’s the kicker — when you’re zipping around using different blockchains, each one has its own type of ‘fuel’, and managing all those costs can turn into a logistical headache.

Overcoming these obstacles requires more than just a cursory effort, given the intricate nature of DeFi platforms. The ultimate aim is to refine the user experience through innovative technology and comprehensive education, making the vast DeFi cosmos accessible and navigable for all, from tech aficionados to those new to the scene.

Introducing VOOI: A Comprehensive Solution

VOOI.Intro

After delving into the magical yet challenging world of DeFi, the stage is perfectly set to unveil a solution designed to address these hurdles effectively. So, without further ado, allow us to introduce VOOI (/vəʊ.iː/).

VOOI shines as a beacon of hope, providing solutions to the UX challenges we’ve discussed. It stands out as an innovative, cross-chain perpetual DEX aggregator, supporting a multitude of EVM and non-EVM networks with the flexibility to incorporate additional networks as needed. VOOI enables leveraged trades on perpetual DEXs across supported networks, focusing on trading efficiency and easing the headache of managing gas expenses. It offers a unified interface both for trading on different perp DEXs and funds management. VOOI elegantly sidesteps the hassle of moving assets between chains by simply not moving them. Instead, it supplies traders with assets on any supported chain upon request, making the process much quicker and safer than traditional cross-chain asset transfers.

Sounds a bit like science fiction, doesn’t it? Especially when you consider that VOOI is not just a concept but a fully operational solution already deployed on the Testnet in private beta, with a public release on the horizon.

VOOI.Mission

VOOI is here to shake up the DeFi world by offering traders a sleek, user-friendly platform that cuts through the usual complexities and fragmentation of the ecosystem. We’re on a mission to build an environment that’s not just more open and easy to navigate, but also secure for everyone involved. With VOOI, you’re in full control of your financial moves without having to sacrifice simplicity or powerful features.

VOOI.Goals

At VOOI, we’re not just building a platform or aggregator; we’re crafting a trading approach in the DeFi space. We are aiming to address the core needs and challenges of today’s traders. Here’s how we plan to make a difference:

• Simplify Access to DeFi Trading: Make DeFi trading accessible to a broad audience regardless of their experience or technical knowledge, through the development of a user interface that is both functional and intuitive.
• Integration and Interoperability: Ensure seamless access to multiple blockchains and trading platforms, offering a solution that supports cross-chain operations, simplifying asset movement and trading across diverse markets.
• Reduce Risks and Enhance Security: Develop and implement advanced security mechanisms to protect users and their assets from fraud, hacking, and other online threats.
• Educate and Support the Community: Provide comprehensive educational resources and support for users at all levels, to promote a deeper understanding of the DeFi ecosystem and better trading decisions.
• Continuous Innovation: Continuously explore and incorporate new technologies and strategies into the platform to remain at the forefront of DeFi innovation and meet the changing needs and expectations of users.

VOOI.Plans

At VOOI, we’re not just dreaming big; we’re making those dreams a reality, one innovative step at a time. Here’s a sneak peek at what’s on the horizon for VOOI:

Spring into Action: Limited Testing Access in April

As mentioned earlier, VOOI is up and running on the testnet, and we’re opening the doors for limited testing of new features this April. It’s your chance to get a first-hand look at what’s cooking in the VOOI kitchen.

Feature Feast: A Bounty of New Tools

The roadmap ahead is bustling with activity as we gear up to launch an array of VOOI features that will redefine DeFi trading. From automated arbitrage to cross-chain vaults, we’re not just expanding our toolkit; we’re revolutionizing it. With an ever-growing list of supported perpetual DEXs, automation isn’t just a luxury; it’s a necessity. That’s why we’re also rolling out sophisticated order routing and automation tools to streamline your trading experience.

Looking Ahead: The Future of DeFi Automation

In our upcoming publications, we’ll dive deep into the world of DeFi automation, exploring both general trends and specific strategies within VOOI. We’ll unpack how these advancements can simplify your trading operations, making DeFi not just more accessible, but also more powerful and intuitive.

At VOOI, our vision extends beyond the cutting-edge technologies and trading strategies; we’re equally passionate about investing in our community and making your interaction with VOOI not just productive, but also thrilling. It’s all about creating an ecosystem where each member feels valued, engaged, and part of something bigger.

Bringing Fun to Finance: Drops, Referrals, and Rebates

We’re excited to introduce a sprinkle of fun into the world of DeFi trading with plans to gamify your VOOI experience. Get ready for exclusive drops, referral programs that reward both you and your friends, and rebates that make trading with us even more rewarding. These initiatives are designed not just to thank our community for their trust and engagement but also to add an extra layer of excitement to every interaction with VOOI.

Stay Tuned Without the Overwhelm

We understand that the depth and breadth of our plans could make for a lengthy read. To keep from overloading our valued readers, we’ve decided to spread out the details over a series of focused publications. Each feature and program will be spotlighted in its own dedicated article, providing you with all the insights you need without the fatigue.

Conclusion

Join us on our journey to reshape the DeFi world with VOOI. Whether you’re a seasoned trader or new to the DeFi space, your early involvement can help shape the future of decentralized trading. Stay tuned for our private MVP launch in April 2024 and get ready to experience the next level of DeFi trading with VOOI’s upcoming versions. Be part of our community, share your insights, and let’s drive the future of DeFi together.

Future publications will delve into the technical intricacies of VOOI, with a keen focus on its implementation details.