Introduction to EvryNet and EvryNet DEX2.0: Bridging CeFi and DeFi
On March 10th, Korapat Arunanondchai, the CEO of EvryNet, and Muharem Hrnjadovic , the CTO of EvryNet, visited the BitWell community and brought a wonderful sharing with the theme “Introduction to EvryNet and EvryNet DEX2.0: Bridging CeFi and DeFi”.
The following is a review of the full content of this community sharing:
Moderator: Catherine, VP of BitWell Overseas Market
Cathy: Could you please give us a brief introduction of EvryNet and what problems it intends to solve?
- Evrynet is developing an inclusive, open-source platform to provide financial services and products
- Our mission is to create a CeDeFi ecosystem that provide building blocks for projects and developers to utilise to build different decentralised financial applications on
- As a cornerstone of this ecosystem, we want to focus on bringing more institutional investors into DeFi
- Our insights, which came from interactions with our early backers and investors, allows us to understand the different barriers these investors face in connecting to DeFi.As a cornerstone of this ecosystem, we want to focus on bringing more people, whether individual or institutional investors into DeFi
- We’re lucky to have strong corporate backing us such as CP Group (Thailand), Uni-President (Taiwan), hanwha investment & securities (South Korea), 7Bank (Japan) and UOB Bank (Singapore) that we can rely on to build this ecosystem
Cathy: Could you tell us how EvryNet will function in the CeFi and DeFi domains?
- From our conversation with different institutional investors, they have difficulties trading in DEXs because they lack features catered to them. For this part, we’re creating a DEX that can support this type of institutional trading.
- The two main areas we’re addressing right now are liquidity in Dexs and throughput speed
Cathy: Could you tell us more about the killer features of EvryNet and how it can benefit users?
- Currently we have Evry.Finance which is our first DEX launched on BSC
- This DEX allows for swapping, staking and farming. We utilise a combination of AMM and DMM which addresses the issue of slippage.
- DMM or dynamic market making is an exciting new innovation that is more capital efficient than AMM and slippage can potentially be up to 100 times better than AMMs for more stable pairs. Integrating DMM into the platform also allows Evry.Finance to implement dynamic fees and a programmable pricing curve with the inclusion of a customisable amplification factor.
- In the next quarter, we’ll also launch a new DEX which we’re calling DEX2.0
Cathy: Could you give us an insight into EvryNet DEX2.0?
This will be an order book style DEX built on Solana. It will also have API for easy bot connect which would allow anyone to do high frequency or bot trading. We’ll also introduce cross-chain borrowing and lending which will allow our users on Evry.Finance to use their assets on BSC to mint credit to trade on Solana. We’re also introduction more derivative products later on such as perpetual contract and margin trading/leveraging
Cathy: Does EvryNet have any exciting initiatives that are planned in the pipeline?
Other than the DEX2.0, we will also have an exciting trading incentive referral program which will be tied to NFT as well. As for throughput speed for DEX, we also partnered with Stanford Future of Digital Currency initiative as well which gives us access to SPEEDEX technology which could enhance the speed of DEX to be able to process up to 100k tps. This is something we’re looking to implement once we address the liquidity problem. There are also many exciting new partnerships which we will be announcing soon as well.
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