Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx
The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...
Vortex is a Next-Gen DEX built on Tezos by the Smartlink team. A vortex holds a massive gravitational pull to siphon anything in its way. The stage is set and the Smartlink team aims high.
By: Lee Evans
31 August 2021
Disclaimer
Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.
Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.
User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.
Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.
Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.
Vortex
Vortex is a Next-Gen DEX built on Tezos by the Smartlink team. A vortex holds a massive gravitational pull to siphon anything in its way. The stage is set and the Smartlink team aims high.
As we launch ‘Vortex’ our goal is to siphon users from other blockchain networks with limitations and security issues to Blockchain 3.0 that provides real scalability without compromising safety or user experience.
Vortex is providing a neat and complete interface that will be integrated with the other modules of our ecosystem covered in more detail down below.
It will support all types of Tezos tokens including FA1.2 and FA2. Anyone may list a token by creating a new liquidity pool and add liquidity to an existing pair. VORTEX has a whitelisting procedure under which new tokens can be verified.
Token-to-Token
Vortex 1.0 will first have tokens paired to XTZ. The Smartlink team plans to introduce our Token-to-Token listing feature in the forthcoming release of Vortex.
You will be able to list and create liquidity pools against different tokens, such as SMAK to USDtz, and other tokens.
SEND Feature
The send feature allows you to swap and send in one transaction. If you want to send uUSD, but you currently don’t have uUSD, traditionally, you will start with swapping XTZ for uUSD and then send it to the recipient’s address, requiring two separate transactions at your end.
The Vortex Send feature combines these two features into a single transaction. You can select the token you have as input token (Token A), the token you want to send as output (Token B), and add the recipient’s address in the address field. Vortex will swap the tokens and send them to the address, thereby cutting your efforts in half.
Liquidity at launch and techniques to improve liquidity
The Smartlink team will add a total of $400K USD to different pools to celebrate the launch of Vortex:
– SMAK/XTZ: 200K USD
– USDtz/XTZ: 50K USD
– Kolibri/XTZ: 50K USD
– ETHtz/XTZ: 50K USD
– hDAO/XTZ: 50K USD
We are also in the process of discussing liquidity injection with different projects of the ecosystem and will keep the community updated as we move forward.
Additionally, there are several ways Vortex liquidity is incentivised:
– Vortex NFT Giveaway LP Contest
As an extra incentive to add liquidity, the Smartlink team announces The Vortex NFT Giveaway contest for early adopters. All you have to do is add liquidity to the Smartlink DEX to enter a chance to win our limited edition NFT.
– Farms
Smartlink will introduce yield farming for its community with Vortex. You’ll be able to deposit your LP tokens across different farms and redeem your rewards at any point.
Vortex will feature yield farms for various FA1.2 and FA2 tokens. Smartlink is planning to launch yield farming in early Q4.
– Escrow and Liquidity Pool Mechanisms
Smartlink plans to utilize the assets locked in escrow smart contracts to provide liquidity across different pools. This will be optional and owners of the funds will be able to make that choice in the escrow platform. The owners of the funds will bear the risks and advantages of providing liquidity.
We’ll settle rewards instantly across various liquidity pools, including SMAK and other pairs. If you’re using Smartlink’s escrow module, this will provide a hedge against market volatility, especially when not using stablecoins.
This feature will be available after we publish our upcoming research paper.
– LP Migration Interface — From one DEX to another
We set our goals to become one of the most happening, user-friendly, and stylish exchanges within the Tezos ecosystem, so it is mandatory at our end to provide liquidity migration tools.
Smartlink will provide a liquidity migration tool that will allow users to migrate liquidity from other Tezos Dexes to Vortex from a single page.
We’ll provide a step-by-step guide to help you in the process. LP migration will make its first appearance soon after our launch.
API
The Smartlink team working towards building an API for token listing across various leading tracking platforms, including Coin Market Cap and CoinGecko. All the Tezos tokens listed on VORTEX will be able to add live price tracking to CoinMarketCap, Coingecko among other platforms. The API is expected to be ready shortly after launch.
Vortex: Fee structure
Our revenue model for Vortex is in line with our long-term growth strategy.
We have lowered the standard fee for any transaction on Vortex to 0.28%. Smartlink will distribute the revenue generated through exchange fees across different avenues.
Governance Model
Starting out, Smartlink will create a temporary Smartlink Council comprising $SMAK token holders with proven credibility in the blockchain space, including VCs, founders of prominent projects, leading authority figures within the Tezos community, and Smartlink Team members.
The first version of our Governance system is on the way and will be undertaken by a dedicated team we have recently onboarded.
We will also provide the community with tools to submit their ideas and suggestions:
– We are currently setting up an exclusive Smartlink Forum for the community
– We are working on the voting interface to start off with our Council as soon as possible
– There will be around 10 to 15 seats on Smartlink Council
Smartlink will initiate the process of creating Smartlink Council in Q4 of 2021. Smartlink will incorporate a community voting mechanism within its governance model. All the holders of $SMAK tokens will be able to vote on various governance decisions.
Smartlink Council will function as the primary governance authority of Vortex until the implementation of the community voting mechanism.
Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.
Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.
User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.
Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.
Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.
Upload Article
Complete the submission form, which includes fields for your name, contact information, a short author bio, and the title of your article. Submit your Word document as a word doc file. If you encounter any issues during the submission process, please contact our support team for assistance at [email protected]. We encourage all aspiring contributors to read and understand our submission guidelines and editorial policy before submitting.
Deloitte Luxembourg announces that it will become a Tezos Corporate Baker. As a Corporate Baker, Deloitte Luxembourg will be responsible for validating, securing and adding transactions (blocks) to the Tezos blockchain. This new position allows Deloitte Luxembourg and Tezos to explore synergies in Web3-related topics, alongside other ecosystem stakeholders.
This partnership signals an innovative foray into the realm of digital art collectibles, anchored by a forthcoming exhibition on Vincent van Gogh. Scheduled to commence on October 3, 2023, the highly anticipated exhibition is titled “Van Gogh in Auvers-sur-Oise: The Final Months”.
