Smartlink Announces Vortex, A Next-Gen AMM on Tezos

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VANCOUVER, BC, Aug. 31, 2021 /PRNewswire/ - Smartlink announced the launch date for its much anticipated next-gen Tezos AMM, code-named Vortex, to be released early September. Vortex is one of the early components of Smarltink's decentralized financial (DeFi) ecosystem that comprises staking, yield farming, an open launchpad, a decentralized marketplace, and escrow smart contract module. Smartlink has announced 'Vortex NFT Giveaway Contest' to reward users for adopting its DEX. $SMAK, Smartlink's native FA1.2 token, will act as the governance token for Vortex.

Vortex is a part of Smarltink's growing portfolio of DeFi products. Smartlink, a Tezos-based platform, earlier announced its aspirations to create a comprehensive ecosystem that provides a seamless experience to the Tezos community and the DeFi space in general. Vortex is a decentralized exchange for Tezos tokens that lists FA1.2 and FA2.0 tokens, with the initial launch providing pairs listed against XTZ, such as SMAK/XTZ, wETH/XTZ, WRAP/XTZ, wBTC/XTZ, among other pairs.

The fee structure for Vortex introduces lower fees, 0.28%, which is split across liquidity providers (0.25%), buyback and burn program (0.02%), and Smartlink Treasury (0.1%) making Vortex one the most affordable decentralized exchanges in the space.

The governance model includes a council elected by Smarltink, Smarltink Council, that comprises notable figures within the Tezos ecosystem, VCs, and blockchain thought leaders. The platform will transition into a democratic governance structure, giving $SMAK holders the opportunity to vote on critical platform decisions.

Vortex aims to provide a better trading experience to Tezos users with interactive graphs for trading volumes, prices, and TVL. Smartlink has indicated that Vortex will keep evolving, with new features being rolled out over the coming months. The initial launch will support critical features, including trading, swap, liquidity pools, and token listing mechanism. Smartlink plans to deliver features such as token-to-token listing, yield farms, liquidity migration, and API under its extended-release plan.

Smartlink has announced an NFT giveaway contest, under which the platform will reward one NFT against every $1 million in total-value-locked within its exchange, in the form of liquidity pools and yield farming. There will be 10 NFTs given away to selected winners with the potential for more rewards in the future.

Vortex has been security tested through multiple audits of its code by leading Tezos development groups, including Trail of Bits, CamlCase, Pyratz Labs, and formal verification conducted by Nomadic Labs. Smartlink will follow GPL 3.0 standards for its source code, allowing an opportunity for individual developers and community members to contribute to the project.

About Smartlink

Smartlink is developing a sustainable ecosystem of decentralized and scalable applications on top of the Tezos network  including a decentralized escrow service, a marketplace for crypto users, and DeFi applications.

General information

More information about Smartlink: https://smartlink.so
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SOURCE Smartlink

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