Schwarzenbach, Switzerland, April 27, 2023, Chainwire
Veax Laboratories has officially launched its advanced decentralized exchange (DEX) on the mainnet. Built on the NEAR protocol, the platform aims to seamlessly bridge functionality commonly found in traditional finance (TradFi) with that of the decentralized finance (DeFi) market. Along with the launch of the platform’s mainnet, it introduced the Veax Liquidity Provider (LP) incentive program, a unique opportunity to reward community members who commit liquidity to the platform, further accelerating its growth.
Building on a successful testnet
Since the launch of the platform’s public testnet in late January, over 12,230 users have accessed the platform, creating over 120,000 liquidity positions and generating nearly 2 million native testnet NEAR trades. Following the success of the platform’s public testnet, the team developed a unique trading experience for the NEAR ecosystem, building on the feedback received and implemented during the testnet phase.
“We set out to develop a platform that will greatly enhance the trading experience on NEAR. Although some of our more advanced features are still under development, we are confident that the NEAR community will appreciate some of the features that will be available at launch. One of the key features that users will be able to try is our flexible fee tiers which will optimize the trading experience for regular traders and liquidity providers,” said James Davies, Chief Product Officer at Veax Labs.
“Our public testnet has proven to be very successful and we have received lots of positive feedback from our users and partners. We look forward to seeing the same reception on the mainnet. We have many exciting developments planned, including the launch of the LP incentive program, the continuation of our Veax Points program and the launch of our native $VEAX token in the near future,” said Marie Tatibouet, Chief Marketing Officer at Veax Labs.
“We are very impressed with the activity generated by Veax testnet and look forward to the live release of Consensus” – Kendall Cole of Proximity Labs
Introducing the Veax LP Incentive Program
The Veax LP Incentive Program will allocate 25% of all $VEAX tokens, a total of 2,500,000 tokens, to reward early liquidity providers in the Veax ecosystem. The 7-month program will run from the launch of the mainnet to the Token Generation Event (TGE) until the end of the year. The TGE is scheduled to take place two months after the mainnet launch, with rewards accumulating immediately and payable one month after the TGE launch. To incentivize continued support, earned tokens will be locked for two months after they are earned. The Incentive Pool is designed to triple or even quadruple the revenue generated from trading pools.
About Veax
Veax was developed by Tacan Laboratoriesthe DeFi building arm of Tacans S.A., a Swiss-based Web3 builder and investor. In November 2022, Veax Labs raised $1.2m in pre-seed funding from a series of high-profile investors including Circle Ventures, Proximity Labs and Outlier Ventures, as well as Tacans Labs, Qredo, Skynet Trading, Seier Capital and Widjaja Family.
Contact
Professional manager
Guillaume Dion
Tacan Laboratories
(email protected)