Vortex Is Live: A Tezos-Based Dex By Smartlink

Vortex Has Launched

Today, Vortex launched and it looks great. Vortex is a Next-Gen Decentralized Exchange (DEX) built on Tezos by the Smartlink. 

The first thing that stands out is the fact that each trading pair shows a chart of the price history on Vortex. Historical prices of Quipuswap are not included, so the price data starts today. This will be a very useful feature for traders, buyers, and sellers.

Vortex supports 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. 

Liquidity at launch 

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

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.

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.

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.

 Security

Swap smart contract has been:

– Audited by: Trail of Bits https://github.com/trailofbits/publications/blob/master/reviews/dexter.pdf 

– Property-tested by CamlCase  https://gitlab.com/camlcase-dev/dexter/-/tree/master/morley/tests 

– Formally verified by Nomadic Labs. https://gitlab.com/nomadic-labs/mi-cho-coq/-/merge_requests/71 

A final security audit of our code for swapping and liquidity pool smart contracts is on the way to prevent any security lapses.

Follow Smartlink on Twitter. https://twitter.com/smartlinkHQ 

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