MonoX, Profitable Since Mainnet Launch, Announces Its Public Token Sale on Huobi Primelist -Breaking
MonoX Protocol, the most capital-efficient liquidity solution in the DeFi space, has announced that the public sale of its $MONO token will take place on Huobi Global’s Primelist token listing platform on Thursday, November 25. MonoX has just launched its mainnet via the Polygon network and this listing is a month later.
One million $MONO tokens will be available for purchase starting at $0.40 per piece. Further details about the listing can be found here. Huobi Primelist allows participants to buy new tokens for a lower price and immediately trade these tokens after the Primelist activity has ended.
The governance token for the protocol is $MONO. Token holders are able to vote on the approval of official pool members, as well as parameters such fees and rewards.
Ruyi Ren, MonoX CEO and founder Ruyi Ren stated.
“MonoX is one of the most innovative products in the DeFi 2.0 space, with a profitability almost 100x a regular swap project with similar TVL. Huobi is the most centralized exchange in the world. It’s an honor to get to launch on Huobi. We’ll be using our tokens to promote decentralized governance of the project and attract more liquidity and partnerships.”
Krypital Group and Axia8 Ventures had previously invested $5 million in the project. Divergence Ventures was also involved. 3Commas, OP Crypto and Blockdream were among those who contributed to this funding.
The unique liquidity pools, which allow it to earn revenue from both trading fees and the virtual vCASH token, have made the protocol profitable ever since its mainnet launched. In the first month after mainnet launch, it has earned over $800,000. The total value locked (TVL), was only $20 million.
MonoX, a multi-chain and multi-layer DEX, is changing the DeFi industry by eliminating inefficiencies associated with existing liquidity models. MonoX is a new DEX that allows developers to list tokens and not have to place two tokens.
Innovative single-sided liquidity models combine the deposited tokens in a virtual pairing with the vCASH. All assets within the MonoX pools are backed by the vCASH. You will see a higher capital efficiency, lower trading costs, and zero-capital token launches.
MonoX can also be used to capital efficiently infuse liquidity into Value-backed Tokens. This includes synthetic assets, fractional nets, insurance tokens and gaming tokens. Since these assets hold inherent value, projects and users don’t need to collateralize them a second time with a liquidity pair.
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