Place/Date: - May 19th, 2022 at 9:37 am UTC · 4 min read
Solgem is one of the newest projects on the Solana blockchain. Whitepaper V1 has recently been released with the latest information regarding the framework, explained priorities, and more detailed technical data, which we will go through.
Solgem offers a Defi ecosystem with highly scalable, interoperable, and secure decentralized financial products to make DeFi tools more accessible to the general public. Solgem platform provides IDO Launchpad, NFT marketplace, Lending protocol, and DEX. The Ecosystem is said to delete all intermediaries and give freedom to use all of their features by just connecting a wallet. Moreover, AMM ensures safe trading, cutting out intermediaries, and ensuring ownership of your assets. At the same time, DAO creates a proper structure for voting led by the community to ensure stable growth and decentralized decision-making.
DEX is the priority and our first piece of the Ecosystem that we focus on developing. We planned to launch a working product in Q3 2022 and, moving further, add extra features on top. Also, staking will go live, allowing users to earn passive income early on and grasp our product performance and interface use.
Because Solgem decided to choose the Solana blockchain, their DEX will allow people to have the best experience with nearly zero fees and fast transactions. AMM protocol ensures safety, No fear of losing ownership of your assets, quick funds transfers between wallets, trade multiple cryptocurrencies, stake them and move Tokens between Ethereum and Solana. Solgem DEX itself is decentralized, but we choose to use Serums’s centralized order books to solve the most common problems AMMs face. The swap feature will have operating pathways determined by the received swap request. Solgem allocates all tokens deposited into its liquidity pools into Serum based on a constant product equation: x * y = k. Solgem utilizes this equation to create many open orders on Serum which are updated as swaps and trades are performed to provide the best price for the user.
Solgem AMM delivers on-chain liquidity to Serum’s central limit order book, giving Solgem users and liquidity pools access to the entire Serum ecosystem’s order flow and liquidity. It also works in reverse, with Serum users having access to the Solgem ecosystem. They also allow Raydium Solgem users access to the entire Ecosystem’s order flow and liquidity by providing on-chain liquidity to their own DEX central limit order book.
Solgem is providing holders with an opportunity to stake and earn additional profits. The staking program comes with five tiers to generate income from trading fees. When collecting your rewards, you won’t be charged any additional fees. Stakers will be receiving xSGM in exchange for an SGM token, and xSGM will stand for how much was staked and used for yield calculations.
Holding an SGM token offers many benefits, and it unlocks all possibilities to earn passive income, vote upon further project development, and use platform features.
We are offering an opportunity to be the first SGM holder and enjoy the ride with the potential game-changer in the DeFi sector.
Until June 15th, 2022, SGM tokens are in the pre-sale phase, and you have a chance to grab them with a discount before listing them at the Digifinex exchange on July 1st. To participate in the pre-sale or for additional information, please get in touch with our sales team at [email protected], and they will walk you through the process.