Difference between revisions of "Phezzan Protocol"

Phezzan Protocol (view source)

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 [[File:PhezzanLogo.jpg|thumb]]
-Phezzan Protocol<ref>https://learn.phezzan.xyz/litepapers-and-whitepapers/phezzan-protocol-testnet-litepaper</ref> is an orderbook [[Perpetual trading|perpetual]] DEX with Permissionless LP on [[zkSync]] 2.0. Phezzan testnet has been live on zkSync 2.0 testnet since August 2022.
+Phezzan Protocol<ref name=":0">https://learn.phezzan.xyz/litepapers-and-whitepapers/phezzan-protocol-testnet-litepaper</ref> is an orderbook [[Perpetual trading|perpetual]] DEX with Permissionless LP on [[zkSync]] 2.0. Phezzan testnet has been live on zkSync 2.0 testnet since August 2022.
 == History ==
 === UST as Collateral (Jan 2022 - April 2022) ===
-UST (now USTC) was the first supported collateral on Phezzan. The vision of the Phezzan team is--DeFi should be built on truly decentralized stablecoins, instead of centralized stablecoins, and the market cap of UST was the largest in decentralized stablecoin<ref>https://medium.com/@phezzan/hi-this-is-phezzan-protocol-b205a28f41fb</ref>. After the depegging of UST events<ref>https://jumpcrypto.com/the-depegging-of-ust/</ref>, the Phezzan team decided to adapt its collaterals to other yield-bearing assets and stablecoins, such as USDC and ETH/wETH<ref>https://medium.com/@phezzan/phezzan-protocol-multi-collateral-guide-e497c696153b</ref>.
+UST (now USTC) was the first supported collateral on Phezzan Protocol. The vision of the Phezzan team is--DeFi should be built on truly decentralized stablecoins, instead of centralized stablecoins, and the market cap of UST was the largest in decentralized stablecoins<ref>https://medium.com/@phezzan/hi-this-is-phezzan-protocol-b205a28f41fb</ref>. After the event of UST depegging<ref>https://jumpcrypto.com/the-depegging-of-ust/</ref>, the Phezzan team decided to adapt its collaterals to other yield-bearing assets and stablecoins, such as USDC and ETH/wETH<ref>https://medium.com/@phezzan/phezzan-protocol-multi-collateral-guide-e497c696153b</ref>.
-=== Testnet on Rinkeby (April 2022 - July 2022) ===
+=== Launch Testnet on Rinkeby (April 2022 - July 2022) ===
-Phezzan Protocol integrated with [[Uniswap]] V3, [[Chainlink]], and [[The Graph]], all those three were not written in [[Solidity]] 0.8<ref>https://medium.com/cryptostars/phezzan-is-going-to-launch-testnet-on-rinkeby-eths-testnet-4aa516e25ef6</ref>. and zkSync 2.0 only supports Solidity 0.8 by the time, Phezzan launched its testnet on [[Rinkeby]] first. During Phezzan's peak hours, Phezzan Protocol drove up [[gas fees]] for the entire Rinkeby network<ref>https://twitter.com/junhaotan_/status/1519594884319035393?s=20&t=05nSr4iWdYSoxjY1_I2w0Q</ref>.
+Phezzan Protocol uses [[Uniswap]] V3, [[Chainlink]], and [[The Graph]], and all those three were not written in Solidity 0.8<ref>https://medium.com/cryptostars/phezzan-is-going-to-launch-testnet-on-rinkeby-eths-testnet-4aa516e25ef6</ref>. Since zkSync 2.0 only supports Solidity 0.8 by the time, Phezzan team launched its testnet on [[Rinkeby]], and then started working on upgrading its Solidity version. During Phezzan's peak hours, Phezzan Protocol drove up [[gas fees]] for the entire Rinkeby network<ref>https://twitter.com/junhaotan_/status/1519594884319035393?s=20&t=05nSr4iWdYSoxjY1_I2w0Q</ref>.
-=== First Perpetual DEX on zkSync 2.0 (August 2022 - now) ===
+=== First Perpetual DEX on zkSync 2.0 & Orderbook (August 2022 - now) ===
-Phezzan lauched its testnet on zkSync 2.0 on August 2<ref>https://medium.com/@phezzan/phezzan-protocol-testnet-on-zksync-2-0-walk-through-56963e490be4</ref>. Afterward, they are working on limit and stop orders before its mainnet launch.
+Phezzan Protocol upgraded its smart contract to Solidity 0.8 and launched its testnet on zkSync 2.0<ref>https://medium.com/@phezzan/phezzan-protocol-testnet-on-zksync-2-0-walk-through-56963e490be4</ref> on August 2. Afterwards, Phezzan teamstarted designing and developing limit and stop orders, and switching its core product mechenism from AMM to the orderbook model, before its mainnet launch.
+== Overview<ref name=":0" /> ==
+=== Orderbook ===
+Phezzan Protocol will use the orderbook model. Compared to the AMM model, the orderbook model is more capital efficient, offers lower trading slippage, and zero impermanent loss for LPs.
+=== Permissionless LP ===
+Phezzan Protocol enables permissionless automatic market making strategies so ratail LPs can easily provide liquidity as they do in AMM style DEXs. A regular crypto user can select any number of market making strategies with a click of mouse and start market making.
+=== Collateral, Trading Pairs, and Leverage ===
+Phezzan Protocol supports multi-collateral. Users can deposit stablecoins, yield-bearing assets, and other crypto coins as collateral. Trading pairs supported on Phezzan Protocol will include ETH and 2-3 coins that retail investors love, such as $APE or $GMT. Phezzan Protocol supports up to 10x leverage.
+=== Trading Fee ===
+Phezzan Protocol's trading fee is 0.1% of the trading size, with the minimum fee being $0.5 to cover gas fees. Traders don't need to worry about gas fees. 70% of charged trading fee will go to LPs, and the rest (30%) will go to Phezzan Protocol.
+=== Tokennomics ===
+Phezzan Protocol will not launch its token until there is sufficient Product-Market Fit. The Phezzan team wants to focus on building a meaningful product in the early stages and grow organically.
 == Sources ==