CoralX Finance: An ideal liquidity hub powered by Sei
Discover how we leverage Sei’s unique optimizations to bring a seamless DeFi experience with all necessary features integrated into a decentralized protocol.
Why we choose Sei as our destination
Built with security, convenience, and decentralization, CoralX Finance aims to provide a protocol that serves millions of users with all common DeFi features on a platform. That is why we are thrilled to choose Sei as our ideal destination!
Speed, scalability, security, and interoperability were all taken into consideration when designing Sei, an open-source Layer-1 blockchain. It is designed to support an increasing volume of transactions, making it ideal for high-throughput applications like CoralX.
Sei takes great pleasure in having a lower bound of 300ms, making it the fastest chain to finality. Multiple levels of parallelization are used by its Twin-Turbo Consensus method, which enables it to reach extremely high transaction speeds without compromising stability or security. Its adoption of a single-block order execution mechanism eliminates the need for separate steps in placing and executing orders. This streamlined approach enhances efficiency and reduces transaction costs for users.
With the launch of CoralX Finance on Sei Network, we can take advantage of the mentioned traits to bring a better experience for our users with the following features.
About Sei Network
Sei is the fastest Layer-1 blockchain. The exceptional chain-level optimizations of Sei make it possible for decentralized exchanges and trading apps like NFTs, gaming, and DeFi to provide the finest user experience. More than 150 teams, including those from Sui, zkSync, Solana, Avax, and Ethereum, are deploying on Sei as it enters the mainnet.
Sei has raised nearly $30M from investors such as Multicoin, Jump, Coinbase Ventures, Flow Traders, Hudson River Trading, and leaders at Anchorage, LayerZero, and StepN. The team is made up of former employees from Google, Goldman Sachs, Robinhood, Nvidia, and Databricks.
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Our Features
Swap: Effortless Token Exchanges
Enjoy seamless, lightning-fast, and secure token swaps on CoralX. With our interface, exchanging cryptocurrencies feels effortless. Plus, we offer competitive rates and low fees, ensuring a hassle-free trading experience.
Add Liquidity: Contribute and Earn
By depositing your assets on CoralX, you contribute to the efficiency and stability of the market. As a reward, you earn trading fees. This dual benefit allows you to support the ecosystem while witnessing the rise of your rewards as the market thrives.
In the initial phase, there are the following types of pools on CoralX:
- Classic Pool: The Classic Pool is versatile and employs the constant product algorithm, commonly referred to as x*y=k, to facilitate various types of trades.
- Stable Pool: The Stable Pool is specifically designed for trading stablecoins and employs a hybrid algorithm that combines elements of both the constant product and constant sum mechanisms.
- Concentrated Pool (Coming Soon): This pool is designed to concentrate liquidity around the market price dynamically, resulting in a tighter spread around the current market price.
Yield Farming: Nurture Your Earnings
CoralX offers a variety of farming options where you can stake LP (Liquidity Provider) tokens and earn rewards. Through yield farming, you can multiply your earnings and watch them flourish over time. Explore our diverse range of farming pairs to maximize your returns.
Staking: Multiply Your Assets
Maximize your assets by staking your tokens on CoralX. Not only does this help secure the network, but it also unlocks generous rewards for you. Our staking feature provides a sustainable way to grow your portfolio while participating in the Sei ecosystem.
CoralX Launchpad: Igniting Innovation on the Sei Network
CoralX Launchpad, where the most promising projects on Sei Network come to life. With strict standards for products, teams, and community, we ensure exceptional quality and participant interests.
Bridge: Swift and Secure Cross-Chain Transactions
CoralX has integrated the Sei Bridge and Faucet into the product, making it easier for users to access and experience the Sei ecosystem while participating in our platform.
Referrals: Share the Wonders
Spread the word about CoralX and unlock rewards through our referral program. Invite friends to experience the wonders of Coral Exchange, expanding the user base while earning extra incentives. It’s a win-win scenario for you and your network.
Price Prediction (Coming Soon)
This feature allows you to speculate on whether $SEI or $CRX will end up costing more or less than they did when the “Live” phase begins. You win if at the end of the 5-minute Live phase, the Closed Price is higher than the Locked Price and you entered an Up position, and vice versa.
If you guess correctly, you’ll receive a portion of the round’s reward pool. The pools consist of $SEI and $CRX deposited from the participants and are distributed to the winner’s side when the 5-min phase ends.
More features will be updated in the coming time.
What we did since the launch
Published Roadmap
It is important to note that the CoralX roadmap is subject to continuous updates and modifications to align with market trends and user preferences. Our team remains committed to delivering the best possible experience for its users and adapting to the evolving crypto landscape.
As CoralX progresses towards its Mainnet launch o Sei, the platform’s dedication to innovation, community engagement, and user-centricity continues to solidify its position in the whole ecosystem.
Announced Poseidon Testnet
Poseidon Testnet marks an essential milestone in the development process of CoralX. With the launch of Poseidon Testnet on Sei Atlantic 2, the CoralX team aims to identify all the technical and user experience gaps. Thereby implementing modifications and ensuring a seamless DeFi experience for users across the ecosystem.
Access Poseidon Testnet: https://coralx.finance/
Since the launch of Poseidon Testnet, we are super excited to welcome over 36,000 unique addresses with more than 400,000 transactions executed. These figures marked the initial success of CoralX on our ever-lasting journey in the Sei ecosystem.
Partnerships
CoralX understands the importance of collaboration and integration to provide a seamless and enriched user experience. Through the partnerships, we have joined forces with leading protocols to create a thriving ecosystem for DeFi enthusiasts.
Through the below partnerships, CoralX enhances user experiences, expands trading options, and maximizes convenience. Its strategic collaborations amplify its impact and pave the way for transformative change in marine conservation.
Launched Ambassador Program
At CoralX Finance, we value the support of our community and strive to involve our members in the growth and development of our platform. To further this goal, we are excited to launch the CoralX Finance Ambassador Program. This program provides a unique opportunity for community members to become ambassadors for our project and play an active role in shaping the future of our platform.
We believe that with our user-centric design, features, and commitment to seamless trading experiences, CoralX is the go-to platform for anyone looking to engage in on-chain trading in the ecosystem.
Let's look forward to the Mainnet launch on Sei Network!
