Solarbeam Foundation Adopts Stable AMM For Counteracting High Slippage
The Solarbeam Foundation is proud to announce the adoption of the Stable AMM feature into both Solarbeam and Solarflare.
Powering the growth of decentralized finance (DeFi) with Moonbeam and Moonriver networks, the Solarbeam Foundation strives towards building a comprehensive and convenient platform for the crypto community. A critical component of this vision is to remove any intermediaries in the decentralized exchange (DEX) using the underlying protocol of an automated market maker (AMM).
Why Adopt the Stable AMM?
With the help of the Stable AMM, we can now achieve extremely efficient correlated asset trades with low slippage. The resulting Stable AMM pool, therefore, would span a range of correlated assets which would be incentivized.
Correlated assets refer to tokens that are essentially different representations of the same asset. This includes not just stables like USDC, USDT, BUSD, DAI, and FRAX, which are different representations of the US Dollar, but can also include multiple versions of ETH, BTC, KSM and other cryptocurrencies.
The Solarbeam Foundation plans to gradually concentrate the incentives, and consequently the liquidity and volume, of all Dollar-pegged stables to a single pair of the most used stable coin in the ecosystem, currently USDC on both chains, and pair every non-correlated asset to MOVR or GLMR.
About Solarflare
Solarflare is a decentralized exchange, providing liquidity and enabling peer-to-peer transactions on the Moonbeam Network.
