The MetaDEX For Blast

When building Fenix our fundamental question was this:

1) What is the most effective decentralised exchange (DEX) infrastructure we could deploy on Blast?

To understand what would be best, we looked at the development of DEX systems over time. From pioneering automated market maker (AMM) advancements from Uniswap like UNIV2 & UNIV3 pools, to the design of vote escrow tokenomics from Curve that found alignment between liquidity providers and native token holders, and the creation of marketplaces for liquidity supported by auxiliary protocols like Convex, Votium and Concentrator. To ve(3,3), where the direction of emissions through voting became directly tied to fee distribution, allowing optimal incentivisation of both liquidity and fees. Fenix is a MetaDEX that merges the best feautres of Uniswap, Curve, Convex, Votium, Concentrator and ve(3,3) into one platform.

The Fenix MetaDEX design.

The MetaDEX provides four important functions: 1) It creates deep liquidity for traders to provide the best prices on swaps.

2) Provides a system where protocols can build and maintain liquidity to incentivise trading of their tokens.

3) It optimally aligns incentives between liquidity providers, traders, protocols and native token holders through the ve(3,3) voting system to drive a sustainable ecosystem.

4) Maximises capital efficiency through a complete voting marketplace for liquidity that provides vote delegation, optimisation and reward compounding through the Nest as a single protocol without additional fees.