First Steps to Launching the Best ZK DeFi Suite – Blockchain News, Opinion, TV and Jobs

adminMay 22, 2024

Zug, Switzerland, May 21, 2024, Chainwire

Cardinal Cryptography, the core developer of zero-knowledge, privacy-focused blockchain Aleph Zero, today announced the launch of Common Automated Market Maker (AMM), the first mainnet release of Common, a new DeFi platform. Positioned as a decentralized exchange (DEX), Common’s Automated Market Maker (AMM) offers a user-friendly trading experience with a built-in bridge between Aleph Zero, Ethereum, and MOST, as well as an early rollout of the platform’s extensive features.

Introducing Common AMM and Bridging to Aleph Zero

With the launch of Common AMM, Common takes the first step on its journey to becoming a multi-chain DeFi suite designed to address trading efficiency, strengthen on-chain confidentiality, and improve liquidity to optimize the trading experience while allowing users to maintain full custody. I take a step. About their assets. Rooted in research developed by Cardinal Cryptography and Nethermind, Common transcends traditional trading platforms by unifying a comprehensive, all-in-one app experience. It includes a built-in wallet, seamless entry and exit entry, and IBAN account integration, setting a new standard in user convenience and financial integration.

Common AMM, launched on Aleph Zero, implements the network’s commitment to on-chain privacy, strong security, and high performance within a user-friendly framework.

Key features of Common AMM have been released:

Liquidity Pools and Farming: Starting May 21, users will be able to provide liquidity and potentially earn money through farming.
Bridging: Common AMM includes a built-in bridge between Aleph Zero and Ethereum called MOST, allowing users to seamlessly move assets between different networks.
Exchange Mechanism: Simple token exchanges will be possible, activated on May 23rd, following a liquidity building period.

As detailed in the Common whitepaper, Common plans to expand into a full DeFi suite in the future. Future upgrades will include a privacy-enhanced order book, a comprehensive solution for institutional trading, and EVM-based blockchain support. These features build on Aleph Zero’s commitment to data confidentiality and compliance, addressing the needs of the evolving DeFi landscape.

Common Drop: New Compensation Plan

Upon launch, the Common Drops campaign will reward the community for their participation. These initially non-transferable tokens will later be exchanged for CMN, the platform’s native token. Users can participate in Drops by staking AZERO and providing liquidity to Common AMM.

For more details, users can refer to our latest blog post.

Address regulatory challenges with privacy-focused solutions

As the regulatory environment evolves, Common provides a powerful platform that aims to seamlessly blend rigorous compliance with financial privacy.

Users can experience seamless trading on Common AMM today and follow the development of the Common platform as it evolves into the ultimate privacy-preserving DeFi suite.

For more information about Common, visit https://common.fi/ and read the Common Whitepaper. Users can already try the app on the Aleph Zero mainnet.

About Aleph Zero

Aleph Zero is a layer 1 blockchain designed for speed, data confidentiality, and ease of development. It achieves similar efficiencies to existing web2 systems and maintains rigorous standards for data protection through zero-knowledge proofs. Aleph Zero’s versatility is highlighted by more than 40 use cases under active development, demonstrating its adaptability across a wide range of sectors and applications. These use cases are part of the engaged community and growing web3 application ecosystem supported by the Aleph Zero program.

For more information, see https://alephzero.org/.

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