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What Is Matrix Labs? A Defi Ecosystem on popular Blockchains 2022

What is Matrix Labs?

Currently, Matrix Labs is constructing an ecosystem of DeFi solutions that will interoperate in order to optimize revenues while reducing dangers for end users. Using a unique and user-friendly approach, Matrix Lab’s solutions aim to capture unmet demand in the DeFi market in a manner that is accessible to everyone.

Matrix Labs is now comprised of three key DeFi products – Matrixswap, MatrixPerp, and MatrixZap – which are all available for purchase. All of these items will operate in synergy to create a smooth DeFi experience for both new and experienced users alike.

The Three Products

MatrixSwap

As our DEX Aggregator, Matrixswap brings together billions of dollars in liquidity from four distinct blockchains: Polygon , Avalanche , Fantom and the Binance smartchain.

In the case of an emergency, Matrixswap seeks to give traders with the capacity to swap many tokens into a single asset under the same transaction, known as a matrix exchange. These AMMs are able to do so because of the nature of the underlying blockchains (cheap costs, high throughput) and the fact that they distribute liquidity between themselves.

MatrixPERP

Deployed on the Polygon [Ethereum Layer 2] blockchain, MatrixPerp is a decentralized perpetual swaps trading system that is built on virtual-AMM technology.

Unlike typical AMMs, customers may use up to 10x leverage to long or short any asset’s perpetual contracts, allowing them to profit from either side of the trade. The Matrixswap vAMM provides limitless on-chain liquidity, in contrast to the majority of decentralized derivative trading platforms, which are plagued by liquidity issues.

MatrixZap

In addition, MatrixZap is a new feature that enables users to instantaneously “Zap” their tokens into high-yield Liquidity Pools (LP) in order to begin receiving rewards immediately after doing so.

With this incredible feature, you no longer have to worry about changing all of your tokens into the appropriate tokens needed to stake your coins inside the LPs.

The Matrix Token

Token Specs

Token InfoDetail
Token TickerMATRIX
Token TypeERC-20 (Token will be bridged at launch)
Token Supply100,000,000

Official Contract Addresses

TickerChainContract Address
MATRIXEthereum0xc8d3dcb63c38607cb0c9d3f55e8ecce628a01c36
MATRIXPolygon0x211f4e76fcb811ed2b310a232a24b3445d95e3bc
MATRIXBSC (Binance Smart Chain)
0xc32bB619966B9a56cF2472528a36Fd099CE979E0

MATRIX Token Distribution

Source: MatrixLabs Documentation

Token Utility

Staking

On the Dfyn Network, there is a program for staking liquidity mining.
Users may presently stake their $MATRIX tokens in three distinct pools on Dfyn, depending on their preferences.


A Single Pool Of Assets
  • Users who want to join in the Single Asset Pool will be required to stake $MATRIX in order to get $MATRIX rewards.
  • You will get 0.3 $MATRIX tokens for every token that is locked. For each $MATRIX token that you stake, you will get 0.3 $MATRIX as a reward within six months.
  • This pool will begin operations on October 14, 2021.
  • There will be no further participation in this pool after April 2022.
  • 60 percent annual percentage rate
  • All winnings from the pool bet and prizes accumulated over the course of six months may be redeemed in a linear fashion.
Ecosystem Pools
Ecosystem Pool #1 consists of $MATRIX and $ETH (Renewed)
  • This pool contains the $MATRIX / $ETH cryptocurrency pair.
  • Tokens of the $MATRIX cryptocurrency will be awarded as prizes for this pool.
  • The pool will award a total of 150,000 $MATRIX tokens over the course of the pool’s existence, with a daily prize pool of 5000 $MATRIX tokens awarded.
Ecosystem Pool #2 consists of $MATRIX and $DFYN (Renewed)
  • This pool contains the $MATRIX / $DFYN pair of players.
  • Tokens in the amount of $DFYN will be awarded as prizes for this pool.
  • The pool will provide 1750 $DFYN tokens every day as awards, for a total of 52,500 $DFYN in total during the course of the pool’s term of time. (Please note that the awards for this pool have changed.)

Discount Fees

  • $MATRIX holders will now benefit from a reduced charge for transactions performed on Matrixswap.

Planned Token Utility

Insurance Fund


Matrix’s insurance fund will get a portion of all fees collected inside MatrixPerp, our perpetual DEX.
When initiating and closing positions in Matrixswap, a 0.1 percent trading fee is levied on each transaction. Please keep in mind that the payments are not collected as a source of money for the protocol, but as a backup for the system’s insurance policy.


50 percent of the trading costs will be placed into the Insurance Fund, which will serve as a vault to secure the long-term stability of the protocol. In the event that the liquidation procedure results in unforeseen losses, the Insurance Fund will cover the costs of such losses.


The remaining 50 percent of the trading fees will be used to support the following activities and events:

  • Swapback of the platform token MATRIX for holders of a single token stake
  • Prizes in lotteries
  • Prizes for the Trading Competition
Governance DAO
Plan of Governance

The $MATRIX token is the governance token of Matrix Labs, and it has the authority to propose protocol improvements, vote on ideas, and set the general direction of the project using the ZionDAO platform.

Early phases – around 3-6 months following the deployment of the Mainnet

Due to the fact that Matrix Labs will be in its infancy at the time of the Mainnet’s debut, the project’s key contributors will be in charge of decision-making and implementation in order to assure long-term development. As the platform evolves and we have a solid on-chain governance mechanism in place, the Matrix Labs’ main contributors will delegate decision-making and execution authority to the community, rather than themselves. During this time, we will continue to listen to the community’s concerns and take their interests into consideration for every decision we make. Feedback from the community will be gathered via Telegram and Discord, as well as through other voting systems if and when required.

Mid-Term Governance Scope – Approx. 6-9 months after Mainnet launch ZionDAO will be released around 6 – 9 months after the Mainnet launch, depending on when the Mainnet is launched.

At this point, we anticipate that the ZionDAO community council will be able to propose, vote on, and execute improvements and modifications to Matrix Labs via the use of the MATRIX staking token. The key contributors to Matrix Labs will continue to be responsible for the majority of the implementation and deployment of the smart contracts.

In the long term, the scope of governance would be expanded to encompass but not be limited to the following items around 9 months after the introduction of the Mainnet:

  • Market Listings
  • Token Bridge Asset Whitelist
  • vAMM Fee Structure
  • Nebuchadnezzar DEX Whitelist
  • Trading Fees
  • Platform Usage Required Token Amount
  • Oracle Providers
Single Asset Staking

In addition, MATRIX tokens will be accessible for staking on our own platform, enabling users to earn extra tokens at a certain annual percentage rate (APR).

Stakers on our platform will also be eligible for a number of other privileges, including trading discounts, special access to future events, and other incentives.

What Are The Goals Of Matrix Labs?

Defi protocols that are strong, decentralized, and multichain in nature are the purpose of Matrix Labs, which is to make them available for free and accessible to everyone throughout the globe.

They have laid out a roadmap for us to follow as we continue to develop the three core protocols inside Matrix.

MatrixSwap, their DEX Aggregator, is now in use on Polygon, Binance Smart Chain, and Avalanche, among other exchanges.

To guarantee that you are obtaining the greatest swap pricing for your tokens, we aggregate liquidity from the top AMMs on each chain and combine it.

MatrixPerp, our Perpetual DEX, is already live on Polygon, letting users to trade perpetual contracts with limitless on-chain liquidity and up to 25x leverage while maintaining full transparency.

MatrixZap is another feature that they are currently developing. This functionality enables users such as yourself to “Zap” their tokens into a Liquidity Pool and begin collecting interest instantly, without the difficulties and complication of manually changing all of your tokens to cash in on interest.

The Project’s Roadmap

What Is Matrix Labs? A Defi Ecosystem on popular Blockchains 2022
Source: Matrix Labs
What Is Matrix Labs? A Defi Ecosystem on popular Blockchains 2022
Source: Matrix Labs

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