Mysterious Point is the new cornerstone of a decentralized trading platform for DEX

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Mysterious Point is the new cornerstone of a decentralized trading platform for DEX

December 13
21:27 2021

Mysterious Point is an on-chain order book AMM, based on Solana public chain technology, on which transactions can share the order and liquidity of the entire Serum ecosystem.

Mysterious Point aims to collaborate with other DeFi and AMM communities and expand their other functions in Solana products.

This will bring more liquidity and a faster and more effective DeFi protocol to the ecology.

Project abstract

Mysterious Point is an on-chain order book automatic market maker (AMM) built on the high-performance public chain Solana, which can realize fast transactions, shared liquidity, and earn revenue.

Unlike other AMM platforms, Mysterious Point can provide on-chain liquidity to the central limit order book. This means that Mysterious Point users and liquidity pools can access the order flow and liquidity of the entire Serum ecosystem, and vice versa. So that Mysterious Point and Serum can use each other’s liquidity.

The constant product formula K=Y*X is still used in Mysterious Point’s AMM. In order to combine the liquidity of the order book and AMM, Mysterious Point provides an optimized solution-using a constant product formula and pricing the orders in the order book according to the Fibonacci sequence, providing up to 20 at various prices Orders. Liquidity providers can also get commission dividends from transactions, and for certain trading pairs, they will also receive MSP token rewards. Mysterious Point includes both Trading and Swap functions.

The experience of the former is similar to that of a centralized exchange, and limit orders or market orders can be placed through the order book. The latter is consistent with other AMMs and is priced through a constant product algorithm.

Project details

Mysterious Point, which can be regarded as the “Uniswap Advanced Edition” token trading platform created by Solana blockchain, is designed to seize innovative opportunities in the DeFi field.

In recent years, DeFi has evolved from a hot trend to a rich and complete ecosystem, becoming a new market indicator for financial services and the cryptocurrency market. DeFi aims to make open financial services accessible to the general public worldwide. However, there is still a lot of room for improvement in the DeFi field.

1. To solve DeFi problems

Simply put, although the DeFi field has huge development opportunities, there are still three major shortcomings and shortcomings-the transaction fee and gas fee in DeFi, which leads to the problem of high transaction costs and volatility. Moreover, the DeFi field still has the problem of excessive fragmentation of the market and difficulty in integration and interoperability. In addition, due to the relatively low transaction processing speed of the Ethereum blockchain and the gas fee design, various innovative functions in the DeFi field are also limited in operation, making it difficult for users to benefit.

2. The powerful performance of Solana blockchain

As a “Uniswap Evolution” token trading platform created by Solana blockchain, Mysterious Point is different from other automated market making (AMM) trading platforms. Mysterious Point will adopt a centralized limit trading order book mechanism, while introducing on-chain capital liquidity. Mysterious Point, created with the Solana blockchain, will also use Serum DEX’s centralized transaction order book model to achieve high-speed lightning transactions, shared liquidity, and a variety of innovative functions that help users earn revenue. The Solana blockchain adopted by Mysterious Point is one of the highest-performing permission-free blockchains in the world. It can process more than 65,000 transactions per second (TPS) throughput, and it only takes about 400 milliseconds for the block to reach the final confirmation. Adopting Solana blockchain can bring excellent performance of high-speed transactions and rapid capacity expansion to Mysterious Point. Mysterious Point also uses a “constant product” formula: x*y = k as its operating standard. Calculate the transaction exchange rate/price of this group of tokens in the fund pool according to the formula, and automatically provide unlimited liquidity and transaction depth. In addition, Mysterious Point, in order to strengthen transaction depth and liquidity, will provide up to 20 transaction orders at different price positions (the difference in the number of points at each price point is as small as 20 basis points) according to the algorithm of the Fischer series. In the future, Mysterious Point plans to use off-chain data oracle technology to introduce other liquidity operation models for the platform.

3. Born for DEX trading and strengthen liquidity

At present, Mysterious Point has launched an innovative community resonance mining in response to the current insufficient traffic of DEFI products. Use community tokens to resonate the platform community alliance currency AVT, and combine the USDT+AVT destruction model to automatically obtain the LP value to participate in the MSP mining algorithm

At the same time, MSP-USDT pledges LP, linking the two-way guarantee of LP to ensure the value circulation of platform token MSP

Under the triple cycle system of destruction, pledge and promotion, the value of MSP will surely be pushed to its peak

Since then, Mysterious Point will gradually connect with other projects in the Solana ecosystem to provide liquidity support for more high-quality community projects.

The main interface of Mysterious Point has four functional modules, namely Trading, Swap, Pool and Farm.

Among them, Trading is the order book trading page, which supports users to use limit orders, market prices and other functions for trading, but there is currently no price K-line chart. Swap is the AMM transaction function. The page is very similar to other AMM projects. Users can use tokens to automatically match transactions.

Pool is a liquidity fund pool. Users can select trading pairs to add liquidity and obtain LPs. Users can pledge LPs on the Farm page and receive MSP token rewards. Head mine will be in late December

The runaway problem on Ethereum is also very serious. The frequent activities of arbitrage robots make user transaction prices worse. It also makes the network more congested and higher transaction costs. The delayed confirmation of the transaction also prevents users from completing the transaction at the price they see. When the transaction can be confirmed, the transaction may fail due to slippage and other issues. Compared with the decentralized exchange on Ethereum, the transaction cost on Solana is almost negligible, and the transaction can be confirmed quickly. Mysterious Point’s pure chain transaction method makes transactions more transparent.

Mysterious Point technical advantages

Mysterious Point, a token trading platform created using Solana blockchain, has various technical advantages and surpasses existing counterparts in the market.

The advantages of Mysterious Point’s innovative technology include:

1. The transaction is faster and the cost is lower. Created using Solana blockchain, Mysterious Point processes transactions at high speed for users. And the transaction fee is extremely low, which is better than the gas fee involved in the transaction on the Ethereum chain.

2. Centralized transaction order book + on-chain liquidity, Mysterious Point perfectly combines Serum DEX’s central limit order book model and the powerful functions of on-chain liquidity. Mysterious Point will be able to introduce trading orders and liquidity of the entire Serum ecosystem to the trading platform!

3. Powerful and diversified trading interface. Trading on the Mysterious Point platform, users can use the diversified functions through the trading interface, including-browsing TradingView charts, setting limit trading orders, and choosing trading conditions and operations more independently.

4. Multi-community integration, platform token MSP pure community sharing DAO autonomy, and jointly govern Mysterious Point. Every user can enjoy the dividends brought by the development of the platform.

5. With three innovative mining models, the benefits of the model under scientific calculations will surely far exceed expectations.

Team

However, according to the official introduction, in the Mysterious Point team, there is a general manager with many years of experience in commodity trading and cryptocurrency market making; a development leader with 8 years of experience in traditional and crypto market transactions and low-latency system architects; dedicated The market leader in cryptocurrency technical analysis and trading; there are white hat hackers who started mining in 2012; there are experienced operating system and trading senior developers.

Mysterious Point provides a transformative paradigm that enables projects and individuals to quickly enter the Solana and Serum ecosystems, so as to take advantage of their unique advantages in speed and efficiency. In the crypto industry, if you want to attract DeFi participants, projects, and protocols, faster transactions, very low transaction fees, and the liquidity of the entire ecosystem are essential. Mysterious Point is gradually becoming the cornerstone of the new Defi.

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