MonoX

What is MonoX?

MonoX is a new DeFi protocol using a single token design for liquidity pools (instead of using pool pairs). This is made possible by grouping deposited tokens into a virtual pair with the vCASH stablecoin.

The first use case for single token liquidity pools will be an Automated Market Maker - Monoswap, which is set to launch in October 2021.

Why use MonoX?

Single token liquidity pools are more capital-efficient, resulting in a more optimized experience for all participants.

1. As a project or developer, you can launch your token with zero extra capital.

2. As a liquidity provider you only have to deposit one token to the liquidity pool.

3. As a trader, swapping tokens is made much cheaper.

4. We use one pool so LPs will receive fees for both swaps and borrowing.

5. Most capital efficient solution to trade tokens already backed by value (Synthetics, NFT shards, Gaming Tokens, Insurance Tokens)

Who are the main users of MonoX?

1. DeFi Degens: A new way to Ape. No more explanation needed.

2. Alpha seekers: Traders who are looking for a cheaper alternative to invest into crypto compared to using other GAS and fee heavy AMMs/DEXs.

3. DeFi Enthusiasts: DeFi natives, protocol connoisseurs, and yield farmers who love to use/experiment with new and exciting DeFi products.

4. Projects & Developers: Legitimate projects looking to launch their token, but lacking in sufficient capital.

5. Anyone who was rug pulled: We have a two-tiered pool system for Official Pools and trustless listing pools (where the vCASH balance cannot go below 0). Such a system makes it harder for rug pulls and scam token listings to operate.

Overview

At its core, MonoX is a next generation Decentralized Finance (DeFi) protocol redefining how users can participate in the peer-to-peer financial systems enabled by decentralized technologies built on blockchain networks.

Specifically, MonoX seeks to optimize and fix the capital inefficiencies posed by the Liquidity Pool Pair design. The protocol works by grouping deposited tokens into a virtual pair with vCASH.

Single token liquidity pools are much more capital efficient which means they can become the infrastructure for superior DeFi products and services. Single token design results in lower trading fees, less capital needed to be a liquidity provider and less capital is siloed in multiple pool pairs, resulting in more capital being unlocked and free to use within the greater DeFi ecosystem.

First, we will be launching an Automated Market Maker (AMM). However single token liquidity pools can also be used to build optimized lending/borrowing products, as well as derivatives like futures and options trading.

Project Mission

MonoX believes that 2020 has shown the world what the foundation for value creation is in regards to DeFi protocols (hint: with TVL growth of over 2000%, that's a lot). However, in DeFi 2.0, projects like MonoX will find ways to improve and optimize the inefficiencies of current protocol models. Thus, the space will continue to grow and the DeFi value creation baseline will be set higher and higher.

Above all, MonoX wants to help build and shape the new ownership economy while making a positive impact on society. The goal of MonoX is to release innovative new DeFi products and services that members of the DeFi ecosystem will appreciate and love.

Launch Features

The first MonoX product is an automated market maker using a single token liquidity pool design.

Swapping

• Trade between any ERC20 token listed on platform.

• Exchanging Token A with Token B always works by swapping Token A to vCASH and then from vCASH to Token B.

Providing Liquidity

• Deposit tokens to a liquidity pool, receive your share of the pools reserve in the form of LP tokens. You only need to deposit one kind of token.

• Start earning trading fee rewards for pool activity.

Removing Liquidity

• Redeem your pro-rata fee rewards by withdrawing/burning your LP tokens.

Official Pools

• Official pools have been approved by the DAO.

• Tokens are deposited into a virtual pair with vCASH.

Trustless Listing Pools

• Permissionless listing of new tokens

• vCASH balance cannot go below 0. (User protection feature).

Futures

• Lock up project tokens in a smart contract until maturity date

• Receive Futures tokens that function as a 1:1 synthetic token representing project token

• Once maturity date is reached, burn futures tokens for project tokens

MonoX Future Features/Products:

Borrowing and Lending - TBD

Derivatives - TBD