BXH keeps evolving: deploying Layer2 DEX to build a composite DeFi ecosystem

At the critical time of DEX marketing rising, many insiders believe that the competition in the second half of DEX is about to start.

BXH hopes to enhance its product competitiveness to prepare for the second half. Compared to Uniswap, BXH’s biggest difference is that it is not simply a DEX. Rather, it was born with a positioning of “more than just trading”, trying to build a multi-chain, cross-chain DeFi ecosystem that integrates DEX and aggregation (protocol) revenue, and is rapidly capturing Layer2 DeFi.

At that time…

BXH passed the contract audit before it was launched with two head audit companies, SlowMist Technology and Fairyproof, testing the network layer, host system layer and business application layer to ensure the security of user assets and transactions.

Heco was first launched in March, and in just 10 days, its TVL exceeded $1.2 billion, making it the shortest DEX project in DeFi to reach $1.2 billion TVL.

On the 18th April, the 24-hour trading volume exceeded USD 100 million for the first time, and the liquidity market capitalization topped USD 3 billion. BXH has achieved excellent performance in its growth rate of trading volume and lock-in volume or liquidity mining yield. BXH was further rated as the TOP 7 DeFi project in terms of price performance in 2021, the TOP 3 project in the Heco eco DEX ranking and entered the top wallet recommendation list several times.

At this time…

With the recognition of many project parties, agreements and partners, and leveraging the focus, attention and mainstream communities, BXH made another push in September, officially transforming and upgrading into a one-stop DeFi composite ecological platform with intelligent AI aggregated revenue as the main focus, complemented by a DEX decentralized trading platform.

By using Intel SGX Enclave technology to build a new cross-chain bridge, BXH completed the multi-chain cross-chain connection to the Huobi Eco Chain Heco, the Binance smart chain BSC and the OKEx exchange public chain OEC and was the first to try to deploy DeFi products in Layer2 to break the DEX silo and achieve multi-chain asset interoperability, helping users to complete the conversion and transfer of assets between chains.

This transformation and upgrade have accelerated the development of BXH and expanded its business boundaries, bringing an innovative revenue model for investors and a new value capture for BXH tokens. This is expected to be the growth engine for the next phase of BXH’s growth, driving again a strong wave of coin price increase.

DEX goes live with NFT and Gamefi zones

Earlier, Uniswap completed the deployment of V3, once again consolidating its position as the leader. After an in-depth study of the top-level design of V3, BXH has reshaped the DEX product layer by leveraging its strengths technologies and combining them with its own development stage — focusing on dominant pairs, launching the NFT and Gamefi zones.

BXH is based on automatic market making (AMM), quotation function and Staking Plan, together with a series of incentives designed to provide the best trading depth and optimal pledging yields. Also, BXH supports advantageous trading asset price visualization and time-limited trading, enabling users to get maximum returns. BXH stimulates the inflow of emerging assets into DEX in the NFT and Gamefi sectors, while also maximizing the attention of the market and even creating a siphon effect.

After the 519 event, BXH’s huge user base and evangelists team will provide it with a competitive edge as a decentralized community-based project. At the same time, BXH will soon launch a new invitation rebate function and productize it to enhance the rights and interests of community users, unite community power, form a consensus force, and provide better liquidity and depth for the advantageous trading pairs of NFT and Gamefi Zone.

AI-powered yield farming aggregator

The BXH Smart Pool is a decentralized pooled mining protocol that centred on providing users with DeFi aggregated financial management services.

When users deposit stable coins such as DAI, USDC, USDT and non-stable cryptocurrencies such as BTC, ETH, TRON, etc., the smart pool will invest the funds in some long-running and reputable DeFi protocols, while automatically regulating the deployment of funds according to the real-time floating yield changes of different protocols. While automatically helping users to find maximum returns, the smart pool also reduces the gas cost of decentralised operations can be reduced through the mechanism of a single position transfer.

For example, the Earn feature, currently in beta, is accessed by the Compound protocol, which allows for flexible position locking and free access. Users can deposit BAT, DAI, ETH, USDC, USDT, ZRX and other tokens into Compound via BXH, and not only get the annualized returns from the deposit, but also the mining rewards from Compound.

Evidently, the essence of AI-powered yield farming aggregator is actually a high-yield smart pool of aggregated mining, distributed to all users proportionally, with no middlemen and no principal draws, which is fair and equitable. Mining with BXH smart pools has a number of benefits compared to traditional DeFi liquidity mining: one-click mining, low-cost, high liquidity and optimal returns.

In the early days of its development, BXH was a late bloomer and once became the top application of the Heco ecosystem DEX trading volume, thanks to the introduction of liquidity mining, which reduced transaction costs for users. Today, BXH continues to push the envelope and gain more user expectations.

For insiders, after the subsidized era of liquidity mining, the second half of the competition for the DeFi segment will focus on products. That is, those who can bring more high-yielding products in a competitive environment with high homogeneity will influence the next ranking.

Landscape of the multi-chain cross-chain composite DeFi ecosystem

We’ve been talking about Layer2 summer for a long time and we’ve been looking forward to it for a long time, and BXH is one of them. BXH has already connected to the Huobi Eco chain Heco, the Binance smart chain BSC, and the OKEx exchange public chain OEC, and will increase yields through the “Farming Recovery” incentive program, thus quickly capturing Layer2 DeFi plots.

Layer2, in essence, helps to relieve the pressure on the main Ethernet chain by building a layer 2 network around it like a “sidechain”. Layer2 features low fees and high transaction efficiency after its expansion.

Among the many Layer2 technology solutions, ZK-Rollups stands out from the rest. The founder of Ethernet, V God, said that ZK-Rollups is the best Layer 2 solution so far. BXH is the first to adopt ZK-Rollups as the AMM DEX for Layer 2 scaling solution, which has a very positive meaning for the industry.

The use of ZK-Rollups is more decentralized and features better data availability. In terms of transaction finality (how to prove that a transaction is valid), ZK-Rollups can do this based on cryptography, featuring a shorter proof period and multiple orders of magnitude shorter withdrawal times, which greatly improves availability. This means that if a user transfers asset to BXH, the withdrawal can be completed in a short time.

In addition, ZK-Rollups utilizes zero-knowledge proof technology to upload computational proofs from Layer2 to the chain in real time, achieving almost the same level of security as Ethernet Layer1.

From the various features of ZK-Rollups, DEX is in fact more suitable for integration on Layer2 with the ZK-Rollups technology model, which is why BXH was the first to adopt ZK-Rollups technology.

And whether it’s across Heco, BSC, OEC or deploying Layer2, BXH’s goal is to quickly create a composite DeFi ecological landscape.

The code of an open source DeFi application may be easy to replicate, but the ecology of the application is hard to replicate. BXH’s transformation and upgrade will provide more opportunities for projects in various areas such as market making strategies, trading tools, liquidity mining, prophecy machines and wallets to play.

For example: the BXH update features has a liquidity range order. In addition to the user’s option to one-click mining for smart AI aggregated returns as mentioned above, BXH also provides deeper users with more autonomy to pool liquidity and improve capital efficiency by customizing liquidity ranges. However, this also means greater demands on liquidity providers, and has prompted new BXH-dependent specialist market makers and active market making strategies to enter the ecosystem, including but not limited to Lixir, Charm Alpha Vault, Visor and others.

Then again: Flipside Crypto AI algorithm, smart pool Yield Yak, one-stop integrated trading app Trader Joe can provide investment and data tools and analytics dashboard for BXH’s AI-powered aggregated return products for the BXH community; Novum Insights can provide DeFi calculator function to calculate liquidity returns for BXH’s DEX products, etc.

Based on the above, BXH facilitates the establishment of a multi-chain cross-chain composite DeFi ecosystem, being the support for the value capture of BXH tokens.

Conclusion

This transformation and upgrade of BXH signifies a major step towards a one-stop DeFi aggregation protocol matrix with an ecological landscape that can accommodate DEX transaction aggregation protocols, mining aggregation protocols, lending aggregation protocols, cross-chain bridging aggregation protocols, etc. It is both a deeper development and an empowerment of more scenarios and values to meet the more diverse needs of future DeFi users.

With the further development of DeFi, there will still be more funds. BXH, aiming at an excellent market demand point, has great potentials to break through the new barrier and play a leading role in the second half of DeFi’s competition.