Sencha — New Decentralized Exchange Built on Top of the Solana Blockchain

Published on: 06.12.2021

Sencha, a new decentralized exchange (DEX) built on top of the Solana blockchain.

Sencha’s mission is to be the go-to place for discovering and trading new crypto assets. The interface was designed to be intuitive for veteran DeFi traders and first-time crypto users alike.

Sencha is a Next-Generation AMM Protocol

While Sencha appears to be a standard constant product AMM, the goal is to innovate upon the long-standing AMM norms. For example, all existing Solana AMMs use SOL and USDC as their main base pairs. They instead plan to use staking derivatives that provide more value to liquidity providers, and in the case of staked SOL actually help to decentralize the Solana network.

Sencha is Leveling the Playing Field for New Crypto Assets

Over the past few months, the Solana ecosystem has seen a huge uptick in new developers. The most recent Solana Hackathon saw a record-breaking amount of high-quality projects across DeFi, NFTs, Web3, and Gaming. In order for new projects to rise amongst the old guard, they need focused liquidity provision. We see a unique opportunity to intentionally target up-and-coming crypto assets.

One of the ways they were doing this is through a simple-to-use permissionless pool creator. Anyone can create a new pool with a shareable URL for liquidity providers.

Another pain point for new protocols is getting approved on Solana’s Token List. Currently, projects wait months for a maintainer to merge their pull requests. They plan to implement a system inspired by Uniswap’s Token Lists initiative that reduces the need for intermediaries while keeping users safe from malicious actors.

Sencha is now live on Solana’s Mainnet. Users can now swap between tokens and provide liquidity on its website!