We’re excited to announce the release of Position Exchange DEX 2.0! After months of hard work, we’ve developed a new and improved mechanism for our Decentralized Exchange (DEX) that is more robust, flexible, and adaptable to new technological solutions.
Position Exchange DEX 2.0 is the next generation of our DEX and offers a combination of an Order book and Automated Market Maker (AMM) without the drawbacks of existing approaches on EVM Blockchains. With its 100% smart contract-powered system, our DEX comprehensively addresses the problems of Centralized Exchanges (CEX) and other DEXs.
The core of Position Exchange DEX 2.0 is an on-chain order book matching engine, which provides users with numerous benefits such as better prices, lower slippage, lower gas fees, better control over their funds, sandwich attack restrictions, and more. Additionally, our DEX provides useful trading tools, such as Limit/Stop-Limit orders on-chain, similar to those found on centralized exchanges.
- Optimized interface
With a newbie, performing cumbersome steps are always a hindrance. To deal with that, in this version, we provide a clearer and more compact interface where traders can know exactly where they’re heading at. This will facilitate faster performance along with an optimized UX.
- New Router
Previously, because transactions were executed on the Pancake router, the cost per transaction was relatively high while the processing speed remained slow.
Alternatively, the utilization of the Position Exchange router will assist in lowering costs, increasing transaction speed, and increasing the share of money for liquidity pool providers.
Liquidity: Efficiency, Security, and NFTs
- Concentrated Liquidity
In this new version of DEX, Position Exchange introduced its premier feature Liquidity V3, also known as concentrated liquidity. This grants liquidity providers the ability to concentrate their liquidity by “bounding" it within an arbitrary price range.
Position Exchange’s concentrated liquidity helps reduce price volatility and impermanent losses, while increasing overall liquidity on the platform, leading to better prices for users and tighter spreads. You can choose the desired price range to allocate your assets to and earn from fees when the price is within the selected price range.
- Liquidity Pools
You are granted the ability to initialize pools and set pools’ values at will. Liquidity concentration improves the pool’s capital efficiency. It allows LPs to approximate their preferred reserve curve, while still being efficiently aggregated with the rest of the pool.
- Range Orders
LPs can open any number of positions in the pool and thus create their own price curve based on their personal market view using what are known as range orders. They can also deposit a single token in a price range above or below the active range.
- On-Chain Limit Orders
Limit orders natively on-chain provide better price discovery, security, and control for traders, eliminating the need for a centralized order book and promoting a healthier trading ecosystem for the DEX 2.0 platform.
- Liquidity NFT
You can add or remove liquidity whenever you want. In case you decrease all liquidity out of Liquidity NFTs, your NFTs will still exist. This means you do not need to open new NFTs with high costs to add the same token later.
- Double yield
Position Exchange DEX 2.0 offers a unique opportunity for liquidity providers to earn revenue from both liquidity pools and staking liquidity. Our fee structure is one of the most attractive in the market, with liquidity providers earning up to 90% of fees for their contributions within the first 30 days after the release of DEX 2.0 and 70% from that point on.
Additionally, you can further increase your profits by staking your LP NFT to the farms. This means that you can earn even more rewards by staking your LP tokens, allowing you to maximize your profits and grow your investment.
Position Exchange DEX 2.0 provides limit orders that facilitate investors to have full control of their own funds, aiding a wiser investment plan. You can enjoy a trustless and transparent trading experience in which you don’t need to put your trust in the exchange since transactions work 100% on-chain. Furthermore, no one can interfere with your position, and all transactions can be verified, ensuring the blockchain’s transparency and eliminating the fear of market manipulation.
- More hot pairs and a better interface
Besides Swap, the Trade feature is upgraded with more hot pairs added. The second version of DEX also includes a new UI which provides a better and more user-friendly interface.
We’ll be breaking the launch into two phases.
Phase 1: PTX/POSI Release (today - Feb 21, 2023)
We’re excited to announce the launch of the first pair on DEX 2.0, PTX/POSI, including its Farm, Liquidity, and Trade v2 on February 21, 2023 (today) with the following pair details:
- Pair Symbol: PTX/POSI
- Tick Size: 0.0001
- Liquidity Range: 3
- Initial Liquidity: 500k POSI (min price: 0.0001 - max price: 3.0000), which the team will add
- Initial Price: 1 PTX = 0.5 POSI
Please note that the 500K POSI for initial liquidity will be sourced from the Company Reserved contract. However, since the governance process takes at least 2 days to complete, we’ll cover the costs from our own pockets and create a proposal to ask the community later. Also please note that while you can still access and trade the PTX/POSI pair on DEX v1, we highly encourage you to migrate to DEX v2 for better liquidity. This will not only provide a more seamless trading experience but also allow you to take advantage of our advanced features and earn more profits.
We will provide a further update on the complete setup of PTX/POSI and PTX-POSI farm shortly after this post.
Phase 2: DEX Release - Date TBD, expected this week
After the first phase, we’ll be releasing the entries DEX 2.0, complete with its incentive program and activities. This means more pairs and the ability to initialize your own pairs without permission. We’re currently testing and ensuring that everything is bug-free before releasing it to the community. We don’t have an exact release date yet, but stay tuned to our social media channels for updates. We expect it to be released this week.
Launching Plan & Activities
We are excited to announce that the launch of Position Exchange DEX 2.0 is imminent, and we will be sharing more details in a separate post. Our team is working hard to finalize the project and ensure that everything is functioning correctly, so we can deliver the best version of DEX 2.0 to our community.
Community Marketing Call
We believe that our community is the backbone of our project, and we’re counting on your help to promote DEX 2.0. We have ambitious goals, and we can’t do it without the support of our passionate community. Therefore, we are asking for your assistance in spreading the word about our upcoming launch. In a separate post, we will share a detailed community marketing plan.
Position Exchange DEX 2.0 is set to launch in the first quarter of 2023, and we are in the final stages of preparation. Our development team is focused on testing and fixing any bugs to ensure a seamless user experience. Our goal is to provide the community with the most advanced and user-friendly DEX possible, and we are confident that our upcoming release will exceed expectations. We’re excited to bring the benefits of limit order tools to our users, and we’re committed to creating a platform that helps users save more and gain more.
Thank you for your continued support and enthusiasm as we prepare to launch Position Exchange DEX 2.0. We are committed to delivering the best version possible to our community, and we look forward to your feedback and engagement as we roll out this exciting new chapter in our platform’s development. Stay tuned to our social media channels for more updates and announcements in the coming days. Thank you!
Position Exchange Team