Difference between revisions of "Phezzan Protocol"

← Older edit

Phezzan Protocol (view source)

Revision as of 07:18, 16 August 2022

1,647 bytes added , 07:18, 16 August 2022

m

→‎First Perpetual DEX on zkSync 2.0 & Orderbook (August 2022 - now)

NotenNigiri

9

edits

@@ Line 1: / Line 1: @@
-== Summary ==
 [[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 team started 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 retail 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 ==