Matrix Labs

A leverage trading DEX supported by perpetual contracts in a virtual-AMM protocol. Matrix Labs is currently on 7 blockchain, launching Cardano support in 2022.

Matrixswap has incorporated a number of distinctive functionalities into its DEX which free it from the need for liquidity pools, allowing it to boast virtually infinite liquidity. This is down to the leverage based trading of its vAMM.

Matrixswap has integrated the DEX aggregator with 7 different EVM based chains with Cardano functionality slated for release in Q2 of 2022.

Perpetual Contracts

These contracts have no end-time and allow traders to speculate, i.e. long or short, on the value of the assets in question, until they either close their position or are liquidated.

Liquidation

When the margin ratio of a trader falls lower than the maintenance margin ratio, currently set at 6.25% but changeable through Matrixswap’s DAO, liquidation will be triggered. The agent who facilitates liquidation will earn 1.25% of the remaining. What is left is deposited into the insurance fund.

Trading Fees

Matrixswap trading fees are 0.1%, and trading fees are taken both when a trader opens a position and when they close a position. 50% of trading fees go to the insurance fund and the other 50% are allocated toward:

Buyback and burning of the platforms MATRIX token
Lottery prizes 
Trading competition prizes
On-chain referral fees

Emergency Nuke Button and DEX Aggregator

Matrixswap connects to high-volume DEXs from the three chains on which it operates to provide users with multiple sources of liquidity and the best prices for the assets they're looking to exchange.

Using the DEX aggregator users can swap multiple tokens in a single transaction, and the Emergency Nuke button allows users to covert all of their tokens into one type of token in one transaction.

DOA Governance

MATRIX token holders can propose changes to, and vote on proposals, for the Matrixswap exchange. This feature will be phased in approximately 9 months after the launch of the platform.

Matrixswap Market Oracles

Matrixswap has its own time-weighted average price, TWAP, oracles which will be used alongside one other oracle to settle trader’s positions against each other every hour. To begin with only Matrixswap’s oracles and one other will be used, with others eventually being incorporated to increase security.

Industry

DeFi

DEX

Tags

Cross-chain

Leverage Trading

VAMM

Aggregator

Author

builtoncardano

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Glossary

Oracle

In the ancient world oracles were people through whom the Gods spoke directly to the inhabitants of earth. In the blockchain and crypto world oracles are a service that provides off-chain data to smart contracts running on a blockchain.

On-chain functions, i.e. smart contracts, cannot access real world data on their own. This is problematic when a smart contract is trying to provide the real-time price of financial assets to users, or when it needs to determine the outcome of a sporting event for a gambling protocol, or even when it has been asked to use something measurable in the real world, such as the temperature or quantity of snowfall, in its calculations. Oracles can feed any real world data onto the blockchain for use by smart contracts.

Data is collect it in a variety of ways: APIs, websites, sensors, etc, and can be manual input by humans. This data is collect by nodes and is then passed on to the oracle service that then supplies the smart contract with the data. Having one node supplying data means a central point of failure, and a high potential for manipulation of the data. As a result oracle services usually use a network of nodes to build a consensus of the correct data point and to prevent the data from being manipulated, thereby helping to ensure trust in the data they supply.

On-Chain

These are all the on-chain NFTs, and on-chain NFT collections, that currently exist on Cardano. Many people consider on-chain NFTs to be better, or more special, than off-chain NFTs.

In regards to the on-chain vs off-chain NFT argument, the image represented by an off-chain NFT is found by following a link, typically stored on the IPFS, from the NFTs metadata. This can be changed by the person who uploaded it. The image represented by an on-chain NFT is coded into the metadata and is, therefore, immutably coded into the blockchain's history. This is usually, but not always, in the form a language that your browser understands, allowing your browser to interpret that information and display the NFT.

DEX

Here is a Cardano DEX list for you to explore all the decentralized exchanges built on Cardano. There are multiple Cardano DEX projects for you to choose from, each with a different take on the DEX concept and the way of managing a decentralized exchange protocol.

Listed here are Cardano DEX projects that are based on both the automated market maker (AMM) and the traditional order book style of exchange. Both types of DEX on Cardano, like any other exchange, require a good amount of liquidity to operate effectively. This leads many to say that the best Cardano DEX is the one with the most liquidity. However, there are many other factors that the users of these DEXes would tell you to take into account before deciding which is the best Cardano DEX, and which one you should interact with (although a high amount of liquidity is a good indicator for users).

Interestingly, many Cardano exchanges, such as Sundaeswap, use the concept of “batchers” to collect, order, and execute transactions. This reliance on a small group of batchers to order and execute user transactions reduces the decentralized nature these exchanges as these entities could easily collude to front run transactions from particular wallets or to censor transactions from other wallets.

DAO

If a project on Cardano operates with a DAO that you’ll find it tagged and listed on this page. All of these Cardano DAO projects have, in some form or another, incorporated or plan to incorporate a DAO. Not all of them will be full autonomous and this may be for one of many reasons, be it that features are being released gradually, that they will never actually be a full and proper DAO (and this a debate for another time).

There are specific Cardano DAO projects listed here, and these are those that operate as a full DAO, who’s direction is guided by the votes of its members. Others on here are projects and protocols built on Cardano, and these can take various forms, including: DeFi projects, NFT projects, and gaming projects.

Regarding full Cardano DAO projects, these have been created around many different topics, the most popular being Cardano investment DAOs that invest in Cardano NFTs and tokens. However, there are other DAOs focused around things such as the development of open-sourced tooling, the growth of the DAO idea itself, and art.