Gringotts Labs, the up and coming crypto incubator which just raised $300 million liquidity investment from Ivy Venture, today announces the launch of its inaugural DeFi protocol “Capricorn Finance”, an automated market-making (AMM) decentralized exchange (DEX) for the Cube Blockchain.
Cube Chain is a high-performance modular layer blockchain that is compatible with the EVM and cosmos ecosystem. Since Cube Chain Testnet was launched in May 25th, thousands of developers gathered together in Cube chain ecosystem and worked dedicatedly on this new-born blockchain network. While providing the same ecosystem that Ethereum and BSC do, Cube Chain Testnet showcased faster and cheaper on-chain experience, and this makes it a no-brainer why Capricorn was deployed on Cube Chain.
At first glance, Capricorn Finance can easily remind you of top DEXs like Uniswap or Pancakeswap. They share the same core purpose——to provide frictionless and efficient high-end trading experiences and offer sustainable returns to users and stakeholders.
According to the official announcement, Capricorn Finance is the fisrt protocol incubated by Gringotts Labs, which plans to roll out a matrix of DeFi projects to accelerate the expansion of Cube Chain ecosystem. As the debut protocol of Gringotts Labs, Capricorn.Finance will provide multiple on-chain services for all crypto players, who could trade CRC-20 tokens, provide liquidity to earn trading fees, stake LP tokens and Capricorn’s governance token CORN, and also purchase new project tokens on this platform.
Backed up by Gringotts Labs, Capricorn Finance is showcasing many notable strengths, proving that the new DEX from Cube Chain will rival its counterparts on Ethereum or BSC:
- Faster and cheaper
Integrated with Rollup solution, Cube Chain can provide users with a maximum of over a hundred thousand TPS, which means Capricoin Finance users will enjoy a faster and cheaper on-chain experience.
- A higher level of security
Caprocorn Finance was audited by the prominent blockchain security firm Armors. Depositing funds into smart contracts always has some risk of bugs or hackers. Compared to other DeFi protocols, Capricorn could ensure users a safer trading and farming platform.
- Constant revenue stream from trading Fee
Liquidity provider of Capricorn LP will constantly get a certain percent of the trading fee as their fee rewards.
- Hundreds million USD liquidity investment
Capricorn.Finance was the core DEX on Cube Chain and incubated by Gringotts Labs. This means Capricorn is given high importance by both sides. As of now, the new DEX star has received hundreds million USD liquidity investment from Ivy Venture, which creates a new model of fundraising for the DeFi world and will provide a solid financial support for the fast and steady growth of Capricorn.
- Higher yield
Capricorn Finance could rapidly grow with liquidity investment from Gringotts Labs and thereby provide a higher yield APR for farmers.
Aiming to be the core DEX on Cube Chain, Capricorn is dedicated to building a strong, efficient, and highly-liquid market on Cube Chain. Benefitting from hundreds million USD liquidity investment, it’s clearly a no brainer that Capricorn will lead the DEX sector, spark the DeFi heat on Cube Chain ecosystem.
Image: Homepage of Capricorn.Finance