Liquidity In DeFi Should Be Democratized According To Cell Protocol

Cell Protocol strategy lead and co-founder Felix Xu remarked, referring to central limit order book decentralized exchanges. These are open crypto exchanges that use an order book similar to those used in traditional asset markets.

A Stanford graduate who is now working in China and has requested anonymity previously worked as a blockchain integration and indexing services developer at Coinbase.

Cell Protocol wants to create a single liquidity layer throughout DeFi by expanding horizontally and vertically. Integration with other Solana DEXs, including Serum, Drift, and Zeta Markets, as well as an expansion onto other blockchains, is the next phase.

The Web 3 Pitch Fest finalists intend to grow the network horizontally and vertically across exchanges and blockchains. Liquidity is always a challenge in any market, but it’s especially so with decentralized finance (DeFi). Despite the fact that the goal of crypto is to have completely interoperable networks and tools, users and assets are now dispersed over multiple platforms, causing capital to be stretched thin.

Cell Protocol is a so-called smart automated market maker that employs bots in an attempt to improve liquidity provisioning. More reasonably, as its founder would say.

Future Of Decentralized Exchanges

On CLOBs DEXs, Cell Protocol strategy lead and co-founder Felix Xu remarked, referring to central limit order book decentralized exchanges. These are open crypto exchanges that use an order book similar to those used in traditional asset markets. It’s a technology that provides liquidity in the same way that professional market makers do, according to Xu.

CLOBs, according to Xu and his pseudonymous co-founder @0x5 7, are the future of decentralized exchanges. Many DEXs, such as the popular Ethereum-based Uniswap, now use an automatic market maker to power trades. CLOBs based in Solana Beach, such as Mango Markets and Serum, are on the increase.

To make sense of the present CLOBs, @0x5 7 suggested that you had to be a coder. To give liquidity, you must know how to code. That’s preventing a lot of DeFi users, he explained.

Cell, despite being little in the DeFi industry – it only has $250,000 in total value locked (TVL) – has great ambitions. It appears to be effectively ruling the feast when it comes to liquidity provisioning. It was the first to market in the world of Solana when it debuted in August 2021.

It’s no surprise, then, that Cell is a finalist for Web 3 Pitch Fest, an Extreme Tech Challenge hackathon whose winners will be announced at CoinDesk’s Consensus Festival.

Extending To Different Networks And Protocols

0x5 7, a Stanford graduate who is now working in China and has requested anonymity, previously worked as a blockchain integration and indexing services developer at Coinbase. Wu is a self-described serial blockchain entrepreneur who co-founded the ARPA network and Bella Protocol, both of which protect users’ anonymity. (Cell Protocol uses non-fungible token cartoon characters to protect the anonymity of some of its founding members.)

Cell Protocol wants to create a single liquidity layer throughout DeFi by expanding horizontally and vertically. Integration with other Solana DEXs, including Serum, Drift, and Zeta Markets, as well as an expansion onto other blockchains, is the next phase.

0x5 7 stated We are extending to different networks and protocols. We’re establishing a single liquidity layer on top of DEXs… then we’ll be able to stream liquidity and users into our DEXs.

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing