DODO #Megascope brings you this week’s Highlights:

1. Mantle Network Unveils Mainnet Alpha

2. Uniswap’s New Product UniswapX Protocol

3. Ajna finance Project Introduction

4. Data Check : DODO Mid-year Recap

👀 Weekly Digest

Mantle Network Unveils Mainnet Alpha

Mantle Network, incubated by BitDAO, is a Layer 2 scaling solution that utilizes Optimistic rollup, modularity, and decentralized data availability to achieve higher throughput and scalability. After six months of development and testing, Mantle Network has officially launched its mainnet alpha version at the Ethereum Community Conference (EthCC) in Paris.

Features of Mantle Network

• Modular Data Availability: By utilizing EigenLayer DA, Mantle is able to increase transaction throughput. Accessible data availability allows Mantle to improve throughput without compromising security and reducing node operator overhead, promoting decentralization.

• Multi-Party Computation (MPC): Mantle uses MPC to minimize trust risks in L2 execution outcomes. Through Threshold Signature Scheme (TSS) technology, dedicated nodes contribute to multi-party signatures, enhancing the correctness of off-chain transaction execution results and reducing the challenge period for withdrawals.

• Decentralized Sequencer: Mantle achieves secure and trustless block production by decentralizing its Sequencer. By rotating a permissionless set of sequencers, Mantle reduces the possibility of single points of failure or censorship on the network.

• Exchange Support: BitDAO, supported by the Bybit exchange, is a DAO organization. The BitDAO community recently approved a governance proposal, BIP-21, agreeing to merge BitDAO into Mantle Network, inheriting nearly $300 million in stablecoin reserves and over 270,000 ETH ($485 million) in treasury assets.

Mantle Network Ecosystem

The Mantle community has proposed an ecosystem reward fund, Mantle Treasury, which will allocate $100 million to establish the Mantle Ecosystem Fund and form the Mantle Ecosystem Fund Investment Committee. It is expected that $200 million will be deployed within the Mantle ecosystem over the next three years through the Mantle Ecosystem Fund and strategic risk partnerships.

Currently, several projects within the Mantle ecosystem are in their early stages. Here are some projects that have already launched:

• FusionX: Mantle's native DEX, which currently has the highest on-chain liquidity.

• Timeswap: An AMM-based lending market deployed on multiple chains, serving as the only lending protocol available on the Mantle chain.

• izumi finance: A multi-chain deployed DEX and LP management protocol but now relatively low liquidity.

Other projects worth keeping an eye on that are not yet launched:

• Ammos Finance: Mantle's native centralized liquidity DEX, focusing on serving stablecoins and LST tokens.

• REAX finance: Mantle's native derivatives platform, offering trading, lending, and leverage for cryptocurrencies, stocks, forex, and commodities.

• lendle.xyz: Mantle's native decentralized, non-custodial lending marketplace.

Introducing the UniswapX Protocol

Just one month after the announcement of Uniswap v4, the Uniswap team has unveiled another product called UniswapX at ETHCC. UniswapX is a cross-AMM aggregation and Dutch auction based protocol.

With the upcoming release of Uniswap v4 and the potential challenge of routing with thousands of custom pools, UniswapX aims to solve the on-chain routing complexity by outsourcing it to an open network of third parties. Through competition among third parties to use AMM pools or individual assets as on-chain liquidity, traders ( swappers) will be able to use the Uniswap interface with confidence, knowing that they will obtain the best possible prices.

Features of UniswapX

• Gasless Transactions: UniswapX allows traders (swappers) to sign transactions offline and have fillers pay the gas fees on their behalf. Traders (swappers) do not need to pay gas fees themselves, eliminating the need for the native tokens of the blockchain (e.g., ETH, MATIC) for trading or covering any fees for failed transactions.

• MEV Protection: With UniswapX, the MEV (Miner Extractable Value) that was previously captured by arbitrage trades will be returned to the traders through improved prices. UniswapX also helps users avoid more explicit forms of MEV extraction.

• Cross-Chain Transactions: UniswapX combines swapping and bridging into one. With cross-chain UniswapX, traders can complete exchanges between chains within seconds. Traders can also choose which assets they want to receive on the target chain.

UniswapX's impact on the industry

While Uniswap is not the first protocol to propose the concept of aggregated trading and offline auction-style orders, there have been many protocols with similar concepts before, such as 1inch, Cowswap, or Hashflow, among others. However, leveraging its strong brand and inherent liquidity, UniswapX has the potential to surpass other early adopters at a rapid pace.

The launch of UniswapX signifies Uniswap's ambition to become the sole gateway for blockchain on-chain trading. With the introduction of cross-chain trading and the integration of Uniswap Wallet, users will be able to fulfill all their on-chain trading needs using the tools provided by Uniswap, whether on the web or mobile.

The launch of UniswapX will have a far-reaching impact, not only on other DEXs or aggregator services but also on projects in the cross-chain bridge and wallet sectors, as it is expected to attract a significant portion of the user base and traffic.

Ajna finance Introduction

Ajna Finance is a decentralized lending platform that operates as a non-custodial, peer-to-peer, and permissionless lending system. It does not require management or external price feedback (oracle) to function

Ajna finance Mechanism

Ajna is a decentralized lending platform with no restrictions on loan duration. The interest rate automatically fluctuates based on the utilization of the funding pool. Almost any tokenized asset can be used as collateral. Key aspects of the Ajna mechanism are as follows:

1. Collateral: Almost any token can be used as collateral, whether it is an ERC-20 or ERC-721 token. However, if an NFT is used as collateral, the entire NFT must be pledged.

2. Minimum Borrowing Amount and Fees: The minimum borrowing amount is 10% of the average loan debt in the lending pool. The origination fee is either 0.05% or the higher of one week's interest, applicable to all debts.

3. Liquidation: Liquidation of a loan occurs when a borrower fails to repay the loan within the specified timeframe. The collateral in the loan pool is auctioned off to cover the debt. If the auction price is higher than the liquidation price, the creditors receive compensation. If the auction price is lower than the liquidation price, the creditors incur losses.

4. Interest Rates: Interest rates are determined by the utilization of the funding pool. If there is an excess of lenders, the interest rate decreases. If there is a shortage of borrowers, the interest rate increases. The interest rate changes every 12 hours with a maximum deviation of 10% from the existing rate.

Ajna finance Update

Ajna officially launched on July 13th and is currently deployed on the Ethereum mainnet. According to Defillama data, the Total Value Locked (TVL) has surpassed $5 million.

Ajna has currently integrated with the lending aggregator platform summer.fi (formerly Oasis.app) and the all-in-one DeFi service platform DefiSaver. In addition to accessing Ajna directly through its frontend, users can also interact with the Ajna protocol through these two platforms. The team also plans to expand support for layer-two solutions in the coming months.

Please be cautious and avoid purchasing any fake Ajna tokens, as the protocol's native token has not been released yet.

Datacheck

https://twitter.com/DodoResearch/status/1681140101609590785?s=20

🚄 Bullet News

• The FTX claims portal claims.ftx.com is now live. This website serves as a customer claims portal for debtors, allowing all affected users and creditors to register and undergo KYC verification.

• Decentralized lending protocol AAVE has launched its native stablecoin, $GHO, on July 15th. Users can collateralize their assets through AAVE v3 and borrow $GHO. For more information, please refer to the DODO Research tweet.

• Polygon has introduced a proposal for its new token, $POL, as the successor to $MATIC. The initial supply of $POL is set at 10 billion, and users can swap $POL for $MATIC at a 1:1 ratio. For more details, please see the DODO Research tweet.

• Chainlink's Cross-Chain Interoperability Protocol (CCIP) has officially launched on the mainnet. It aims to achieve decentralized cross-chain messaging and token transfers.