Cardinal Cryptography, the core developer behind the Aleph Zero blockchain, has announced the Common Automated Market Maker (AMM) launch.

This debut marks the first mainnet release of the innovative DeFi platform, Common. It positions Common as a decentralized exchange (DEX) that integrates a user-friendly trading interface with a bridge connecting Aleph Zero to Ethereum, setting the stage for a versatile multi-chain DeFi suite.

The launch of Common AMM represents a significant step towards creating a comprehensive DeFi suite tailored to enhance trading efficiency, bolster on-chain confidentiality, and improve liquidity, all while ensuring users maintain full control over their assets. 

Developed through a collaboration between Cardinal Cryptography and Nethermind, Common aims to revolutionize traditional trading platforms by offering a unified app experience. This includes features such as a built-in wallet, seamless on- and off-ramp processes, and IBAN account integrations, promising unparalleled user convenience and financial integration.

Rooted in Aleph Zero’s commitment to privacy, security, and high performance, Common AMM showcases the network’s innovative capabilities within a user-friendly framework.

Key Features Now Available with Common AMM

Liquidity Pools and Farming: As of May 21st, users can provide liquidity and earn rewards through farming.

Bridging: The AMM includes MOST, a built-in bridge facilitating smooth asset transfers between Aleph Zero and Ethereum.

Swapping Mechanism: Following a liquidity-building phase, users can perform straightforward token exchanges starting May 23rd.

Common plans to evolve into a full-scale DeFi suite are outlined in its whitepaper. Upcoming upgrades will feature a privacy-enhanced order book, comprehensive institutional trading solutions, and support for EVM-based blockchains, all underpinned by Aleph Zero’s dedication to data confidentiality and regulatory compliance.

Along with the AMM launch, the Common Drops campaign is set to incentivize community engagement. Participants can earn tokens by staking AZERO and providing liquidity within Common AMM. Initially non-transferable, these tokens will eventually be redeemable for CMN, Common’s native token, upon its live launch.

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Filed under: Bitcoin - @ May 21, 2024 9:17 pm