The GeroWallet ecosystem of partners is growing yet again! This time around, we have formed an integration partnership with DOEX, a Cardano native decentralized exchange that allows users to perform non-custodial, cross-chain swaps in a trustless manner with a goal similar to ours: to become the more comprehensive DeFi platform on Cardano.
Through this partnership, GeroWallet users will be able to access a full suite of Decentralized Finance (DeFi) services and features offered by DOEX.
The ultimate goal for DOEX is to feature single asset liquidity pools that will allow users to provide liquidity with a single token instead of the conventional multi-asset pools that require users to deposit a liquidity pair. This will allow users to accrue rewards in the form of platform fees while mitigating impermanent loss. Transactions on DOEX will be facilitated by a trade routing layer that identifies the best trading routes to offer users the most optimal prices. To ensure the most current asset prices are displayed on the platform even in periods of high volatility, a live feed price oracle is implemented. Lastly, DOEX will also allow stakepool operators to automatically claim babel fees. This is a feature unique to the Cardano blockchain, whereby transaction fees can be paid in user-defined tokens.
To enable cross-chain functionality and the shift from ERC20 to the Cardano ecosystem, DOEX will feature an ERC-20 converter that will allow users to bridge their assets across blockchains. Building on the Cardano blockchain also allows DOEX to leverage the high TPS and Scalability enabled by Cardano’s Hydra protocol that, according to some estimates, can process up to 1 million transactions per second at low network fees.
2022 is set to be a huge year for DOEX as they continue to develop their platform that is slated to launch in February 2022. In Q3 of the year, they will be implementing fiat on/off ramps to allow users to directly purchase digital assets with fiat and are set to onboard banking partners. This is followed by a mobile application development in the fourth quarter. GeroWallet anticipates a synergistic partnership with DOEX. With their platform rollout on the horizon, we would like to wish their team the best of luck!
DOEX is a Cardano Native Decentralized Exchange. It will facilitate smooth, non-custodial swap of Cardano native assets and that of other blockchains via smart contract, AMM and cross-chain solutions. By building on Cardano, the platform will also provide users will low transaction fees and high transaction rates. DOEX will also implement a fiat on-ramp to allow users to transition from traditional finance to DeFi. The project’s ultimate goal is to be the most complete provider of DeFi services on the Cardano blockchain.
GeroWallet is Cardano’s first all-in-one decentralized finance (DeFi) wallet. GeroWallet is committed to building a dynamic environment for the advancement of blockchain by designing innovative, user-friendly tools for the DeFi community. Gero promises to continuously strive to provide accessibility to all through an intuitive user experience.