DeFi
The first step towards the release of the ultimate ZK DeFi suite by Chainwire
Zug, Switzerland, May 21, 2024, Chainwire
Cardinal Cryptography, lead developer of the zero-knowledge, privacy-focused blockchain Aleph Zero, today announced the launch of Common Automated Market Maker (AMM), the first mainnet release of a new DeFi platform, Common. Positioned as a decentralized exchange (DEX), Common’s automated market maker (AMM) offers a user-friendly trading experience, complemented by the integrated bridge between Aleph Zero and MOST, and the initial deployment of the platform’s broader capabilities.
Overview of Common AMM and Bridging on Aleph Zero
With the deployment of Common AMM, Common takes the first step in a journey to become a multi-chain DeFi suite designed to optimize the trading experience by addressing transaction efficiency, improving on-chain privacy, and increasing liquidity, while guaranteeing users complete custody. on their assets. Rooted in research developed by Cardinal Cryptography and Nethermind, Common will transcend traditional trading platforms by integrating a comprehensive all-in-one application experience. This will include an integrated wallet, seamless on- and off-ramps and IBAN account integrations, setting a new standard in convenience of use and financial integration.
Launched on Aleph Zero, Common AMM embodies the network’s commitment to on-chain privacy, robust security, and high performance in a user-friendly setting.
Main features of the common AMM now available:
- Liquidity pools and agriculture: Allows users to provide liquidity and potentially earn money through farming, starting May 21.
- Bridging: Common AMM includes an integrated bridge between Aleph Zero and Ethereum called MOST, which allows users to seamlessly move assets between the different networks.
- Exchange mechanism: Allows simple token swaps, which will be activated on May 23, after a liquidity build-up period.
Looking ahead, Common is poised to expand into a large-scale DeFi suite, as detailed in the Common white paper. Future upgrades will include a privacy-enhanced order book, comprehensive solutions for institutional trading, as well as support for EVM-based blockchains. These features build on Aleph Zero’s commitment to data privacy and regulatory compliance, meeting the needs of an evolving DeFi environment.
Common Loot: A New Reward Initiative
Alongside the launch, the Common Drops campaign will reward community engagement. These tokens, initially non-transferable, will then be exchanged for CMN, the native token of the platform, after it goes live. Users can participate in Drops by staking AZERO and providing liquidity in Common AMM.
For more information, users can refer to the latest blog post.
Addressing Regulatory Challenges with Privacy-Focused Solutions
As regulatory landscapes evolve, Common offers a robust platform that aims to seamlessly combine strict compliance and financial privacy.
Users can experience transparent trading on Common AMM today and follow the development of the Common platform as it evolves into the ultimate privacy DeFi suite.
For more information about Common, users can visit https://common.fi/ and read the Common white paper. Users can already try the app on the Aleph Zero mainnet.
About Aleph Zero
Aleph Zero is a layer 1 blockchain designed for speed, data privacy and ease of development. It achieves efficiency similar to conventional Web2 systems and meets rigorous data protection standards through Zero Knowledge Proofs. Aleph Zero’s versatility is highlighted by more than 40 use cases in active development, demonstrating its adaptability to various industries and applications. These use cases are part of an engaged community and growing ecosystem of Web3 applications supported by Aleph Zero programs.
For more information, users can visit https://alephzero.org/
For media inquiries
Josh Adams, josh@serotonin.co
ContactProfessional managerJosh AdamsCardinal cryptographyjosh@serotonin.co