London, UK – June 21, 2022 (Investorideas.com Newswire) After nearly a month of testing, decentralized exchange (DEX) Capricorn officially launched on Cube Network on June 21, 2022.
Before its launch, Capricorn had received US$300 million in liquidity investments from Ivy Blocks, the billion-dollar crypto asset management arm of Huobi. In addition, Capricorn also launched user promotion campaigns such as “Embark on Your Cube Journey” and “Flash Mining”, all of which generated strong traffic and results.
1. “Embark on your CUBE Journey”
On June 14, Capricorn and Cube Network launched the first of a series of “Embark on your CUBE Journey” campaigns, and during the three-day warm-up period, more than 300,000 people provided their addresses to participate in the promotions. The “Embark on your CUBE Journey” series has already reached over 500,000 people across various Telegram groups.
CUBE, which is the official token of Cube Network, attracted many investors because its price rose rapidly while many other mainstream tokens such as BTC and ETH saw significant price declines. According to Coinmarketcap, Ethereum’s price has been decimated over the past year and Bitcoin also hit its lowest point since December 2020, while CUBE has risen nearly 240% since its launch on June 9.
2. Flash Mining
At 10:00 (UTC) on June 20, 2022, Capricorn officially launched “Flash Mining”, a whitelist event distributing millions of dollars in crypto assets. Over the past 24 hours, nearly 3,500,000 CUBE tokens have been staked.
3. Capricorn’s Testnet period performance
Capricorn has seen strong social media and community participation since its testnet launch. During this period, Capricorn accumulated over 500,000 community members, 200,000 user wallets, 1,000,000 transactions, and received over 5,000 bug reports from active users across all social media platforms.
In addition to these warm-up campaigns, Capricorn will promote a series of campaigns for users to pull in and reward friends, encouraging the growth of the Capricorn ecosystem.
Capricorn’s Bonus Week will launch together with its mainnet launch, lasting for two weeks. More details will be announced in the coming days.
As the first DEX on Cube Network, Capricorn is the first protocol incubated by Gringotts Labs, a company that plans to launch a matrix of DeFi projects to accelerate the expansion of the Cube Network ecosystem.
In the early days of decentralized exchanges, protocols faced a number of problems, such as slow trading speeds and low liquidity. Security and technical threshold issues were also some of the main reasons that prevented decentralized exchanges from taking off.
However, after a series of technical upgrades and optimizing mechanisms, Capricorn has grown to overcome the many challenges that decentralized exchanges tend to face. Built on top of Web3-dedicated Cube Network, Capricorn Finance’s early successes have shown that it could very well rival counterparts built on Ethereum or BSC.
Faster and cheaper
Capricorn Finance users will be able to have a faster, lower-cost on-chain experience. This is largely due to superior infrastructure – integrated with the Rollup solution, Cube Network can provide users with a maximum speed of over a hundred thousand TPS.
A higher level of security
Capricorn Finance was audited by Armors, a well-known blockchain security company. Armors’ badge of approval indicates lower security risk, reassuring users that they’re trading on a more secure platform.
Backed by US$300 million in liquidity investments
Just weeks ago, Capricorn raised US$300 million in liquidity investments from Ivy Blocks, reflecting a new fundraising model for the DeFi world and providing solid financial support for Capricorn’s future growth plans.
Steady revenue streams from trading fees
Capricorn’s liquidity providers can benefit from a certain fixed percentage of trading fees as their rewards.
The above-mentioned series of strengths are the main reasons why Capricorn has exploded in popularity since launching its testnet.
With the official launch of its mainnet, Capricorn will provide a frictionless, efficient, high-end trading experience for a wider range of cryptocurrency users, as well as sustainable returns for more users and stakeholders.
If it succeeds, Capricorn may very well become a top DEX and initiate a DeFi market boom.
About Capricorn Finance
Capricorn Finance is the first 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.
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