DojoSwap: A New Era in DeFi on Injective
Greetings, ninjas! You’ve seen the teasers, engaged with DOJOSWSP on socials, and now, the moment is here. DojoSwap is set to launch as the first native Automated Market Maker Decentralized Exchange (AMM DEX) on Injective, aiming to redefine the DeFi experience for all Cosmos users.
DOJOSWAP has an experienced DeFi team that has worked on numerous protocols in the cosmos ecosystem, having secured billions in user assets. Today, as part of the Garden collective (formed by the Ninja Garden team), dojo havre aligned our intentions in an attempt to build the biggest DeFi ecosystem on Injective blockchain. In that vein, we hope that Injective becomes the ultimate DeFi hub for all of Cosmos users, locking as much TVL as possible, thus creating the healthiest DeFi ecosystem. Our team brings in the expertise of engineering AMM DEX solutions and is also why we’re pioneering our debut with the launch of DojoSwap.
What’s DojoSwap?
DojoSwap is built to be the first native Automated Market Maker Decentralized Exchange (AMM DEX) on Injective. This means that we focus all our efforts on building the ultimate trading experience on Injective, where we seek to become the people’s choice. For us to become the people’s choice, we recognize we play an important role in ensuring that our product and philosophy needs to be aligned with the people. In the following parts, we share more about DojoSwap and why we believe that we are aligned with all ninjas that have come to love the Injective ecosystem.
More community fees (Ecosystem sustainability)
Our goal in building DojoSwap is to build one of the strongest public infrastructure available to Injective users. On our end, we do not want to be in a situation where our product acts as a blackhole for liquidity where fees enter our pockets only to exit the ecosystem fully. This is not sustainable for the ecosystem, and which is why our team aims to take the minimum possible to cover our cost of operations, while allowing us sufficient spare resources to continue R&D to refine the experience for Injective users. Of the 0.3% trading fees, the community will get up to 80% of all fees for liquidity providers and token holders. The team’s allocation of fees is not fixed. We have every intention to reduce our fee allocation in the future via governance proposals when the protocol gets large enough, having huge sustainable volumes. The reason is simple — with a larger pie, we opt to take a smaller size which will still more than sufficiently remunerate our efforts. Ecosystem sustainability is our motto.
Proper DOJO token utility (Holder incentivisation)
By opting to become a DOJO holder, you opt to become the ultimate custodian to the future of DeFi growth on Injective — your help is needed in future governance. Because your role as a DOJO holder is so important, necessary incentives also have to be prepared in order for the risk/reward of the role to be justified. As a DOJO holder, you:
(1) Get fee sharing and DOJO burns generated from the protocol fees. By committing to become a part of the protocol governance, you will be rewarded with a deflationary fee share token for as long as Injective thrives and bustles.
(2) Gain access to exclusive launchpads from future Garden Collective members (Native money markets, Leveraged yield farming, Yield optimizers and many more..). The DOJO token will become the key to join all future launchpads where more details will be shared in future.
(3) Prime token integration with our future partners. As an example, DOJO could be supplied to money markets to earn real yield, or could even potentially be used as a liquidity native token. The possibilities are endless, and are confirmed, as the roster of Garden collective developers are increasing.
(4) Governance utility — shared in the next section.
Power to the people (A governance centric design)
DojoSwap was built to become the people’s dex. For that very reason, users need to be the ones deciding the future of the protocol. This is important for protocol sustainability and for the game theoretic aspects of the protocol to work out. To put it simply; Holders aka Governance -> Decide rewards -> Trading activity is incentivised -> Fees generated for holders. As long as net outcome for holders continue to generate positive externalities, we can expect the protocol flywheel to continue.
The veDOJO token will be released to allow governance to commence. Through which, users will be able to vote for projects/LPs to provide emissions for. This voting gauge will allow us to determine which projects to incentivise liquidity for. In order for such votes to be carried out, 3rd party projects are to issue out token bribes to veDOJO holders. As an example, protocol X could provide 10,000 USDT to veDOJO holders to vote their farm into existence. This model that we’ve created is super powerful as it aligns protocol and holder interest. And in doing so, DOJO holders get to reap all the positive externalities generated in the form of trading fees and bribes. Of course beyond that, the DojoSwap team is building newer, sexier features that transcend beyond trading fee share and bribes. All these add up as positive externalities accorded to governance holders.
Future
DojoSwap is currently undergoing heavy development. With our beta launch, we essentially create an environment for all injective users to trade at. However, huge works are currently being put into making sure the User Experience gets better. Also, features such as launchpools and launchpads are being prepared, alongside governance utilities. As we march on into a renewed bull market in 2024, our team will continue fleshing out new features to continuously breathe new purpose into the DOJO token to reward our holders.
As holders of INJ token, we are incentivised in every way possible to build the most sustainable and most robust product ever. We foresee the day that INJ become one of the most popular chains out there. That’s our goal, and that’s what we will continuously build towards with the help of the other Garden collective members. We thank all of you for your continued support.
Mainnet Launch
We expect mainnet to go LIVE tomorrow and you will be able to start forming LPs on our dex to earn trading fees. Farms will go LIVE soon after mainnet is launched so users can start earning $POINTs.
In the first phase of our launch, our team will be focusing on acquiring liquidity for the main trading pairs. This is mainly for pairs such as INJ-USDT, INJ-wETH, INJ-wBTC, USDT-USDC, wBTC-USDT, and wETH-USDT etc (exact list of farms not confirmed yet). Users will be able to stake these LPs to earn $POINTs which will be redeemable for $DOJO once $DOJO token is launched.
In phase 2, we will focus on making it easy for smaller pairs to launch on our DEX. This includes memecoins, and external project tokens!
With much love,
Merry Christmas 🎁🎄to all Ninjas!
Keep Updated with dojoswap👇🏻
Website: https://dojo.trading/
Telegram Channel: https://t.me/dojoswapann
Telegram Group: https://t.me/dojo_swap
Twitter: https://twitter.com/Dojo_Swap
Medium: https://medium.com/@dojoswap
Gitbook: https://docs.dojo.trading/
