World’s First DEX on Substrate EVM is here
True to the vision we have set before us, Moon Rabbit is proud to announce the launch of a trustless decentralized exchange, right at each bunny’s doorstep – Moon Rabbit DEX (click to explore). It is the first DEX running on Substrate-based EVM, bringing familiarity and convenience of Ethereum Virtual Machine (EVM) to the scalability of Substrate and Rust. It serves as the first major component of the standalone DeFi 2.0. Jurisdiction of the Moon Rabbit ecosystem that is launched in stages over the course of summer by Web3 Foundation Ltd.
In the spirit of Moon Rabbit ecosystem’s commitment to provide the users with the best possible environment to perform on-chain interactions and have fun at the same time, the upcoming DEX toolset is designed to provide a rich, user-first experience, and add yet another layer of utility to the $AAA token model. There will be unique airdrops of tokens and NFTs for the first 1000 users of the DEX with account balance of at least 3m AAA. Shortly afterwards, liquidity mining programs will launch on chain, rewarding liquidity providers for DEX. All as part of the ongoing effort to complement the existing ecosystem features, and at the same time aggressively continue to deliver exciting DeFi opportunities to the entire community.
As all products launched on the Moon Rabbit blockchain, the exchange will not only benefit from the Substrate-based nature of the network, lowest fees associated with all the transactions conducted on the chain, and the obvious opportunities to scale and connect to other blockchains in the future, but also – being run on the EVM layer, the platform is automatically enjoying the infrastructure, security and decentralisation of Moon Rabbit Metachain, covering all the incoming and outgoing daily operations and the overall state of the Jurisdiction.
This new dApp is set to become an integral part of the ecosystem, seamlessly linked to all the other existing pillars – or products, with special considerations allocated for the upcoming projects, including the cross-integration into the DeFi2.0 Jurisdiction.
Those integrations, and more, are either already live, or in the final stages of development, will allow all participants of the Moon Rabbit Metachain to “traverse” and experience the full network capabilities in a truly seamless and immersive manner, augmenting the level of immediacy between the different products, and the accounts that interact with them on a scale unseen before.
At launch, the platform will boast well over 20 natively-integrated different token pairs, giving the users the absolute control over how they want to engage with the platform, as well as how they want that interaction to progress at the later steps of their journey. Moreover, users will be freely able to add new AAA20 tokens to the DEX and swap any tokens they wish. Any existing tokens of ERC20 and BEP20 standards can be crossed over the Metabridge of Moon Rabbit and provide the initial liquidity pools and token availability on Moon Rabbit EVM.
Here is the link to the Metabridge: https://hole.moonrabbit.com/bridge/tokens – if you are unsure about how to move other ERC20 or BEP20 tokens from Ethereum / Binance Smart Chain to Moon Rabbit EVM, please refer to our admins on telegram and they will assist you in the process. Remember there will be also staking and farming opportunities for all these tokens on the wider DeFi platform that goes live EOM.
Each user will be able to create their own pool, and freely manage it without any oversight, control or any significant steps required. The freedom doesn’t stop there, though – owing to the Substrate / Rust layer seamlessly bridged to an array of external blockchain networks, any ecosystem token launched on Moon Rabbit chain will be tradable on Moon Rabbit DEX by default, rendering the value proposition even more attractive for those still on the fence.
EVM layer additionally allows for Ethereum compatibility in combo with the seemingly unlimited functionality of Substrate, which realistically primes Moon Rabbit network to deploy any leading DeFi project wishing to break from high fees and network congestion. What’s more, the upcoming DeFi2.0 platform, in time, is set to become a piece of the overarching network experience and will play a vital role in further facilitation of the exchange of the available assets.
With the launch of the DEX, the Moon Rabbit is drawing ever closer to realizing its vision it promised. One of a fully thriving and interconnected ecosystem. The native token pairs available at launch are designed to incentivize and propel participation, both within the existing community as well as act as a carrot for those still outside.
Stay tuned for the incoming releases over the next few weeks, as the Moon Rabbit ecosystem builders plan to roll out additional major features over regular intervals of time until the end of summer: multi-asset trustless and counterpartyless deposit and borrow platform, liquidity mining and farming and algorithmic based overcollateralized stablecoins, first of their kind!