10Kswap: Ushering in a New Era of DeFi with Starknet-Powered Solutions

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9 Jan 2024
62

Defi is the lifeblood of crypto. Then let me introduce you to 10kswap, another starknet defi project.
In the ever-evolving landscape of Decentralized Finance (DeFi), 10K emerges as a pioneering platform dedicated to revolutionizing the AMM protocol using Starknet’s innovative rollup feature. With a clear mission to bring about lower fees, reduced friction, and enhanced liquidity to the Layer 2 (L2) realm, 10K is making significant strides in advancing DeFi adoption.
The 10K Vision
The 10K team has been at the forefront of Ethereum’s development, committed to improving liquidity on L2 while promoting broader DeFi adoption. In its journey, 10K has introduced three remarkable products: 10K Swap, 10K DEX, and 10K Wallet.
10K Swap & DEX: Transforming DeFi Trading
Within the cryptocurrency sphere, many opt for the convenience of centralized exchange (CEX) custody for trading, albeit with inherent risks. Recognizing the need for enhanced, secure, and transparent trading solutions, 10K DEX steps in as a permissionless decentralized spot and perpetual exchange. This innovative platform boasts a unique multi-asset pool, providing traders with robust trading depth and enabling liquidity providers to earn fees through market-making activities.
10K DEX, an advanced version of 10K Swap on the Starknet network, elevates the trading experience by offering both market and limit order trading for spot and perpetual contracts. With an optimistic outlook on Zero-Knowledge Rollups (zkRollups), 10K DEX aims to expand its presence to various multi-chain platforms such as zkSync Era, Scroll, and Starknet. This expansion aligns with 10K’s dedication to a comprehensive cross-chain liquidity trading approach for the future.
10K Wallet: A Gateway to Advanced DeFi
10K Wallet Mobile is an advanced Ethereum ecosystem wallet, harnessing zero-knowledge proofs and Ethereum Improvement Proposal EIP-4337. This proposal introduces abstract accounts (AAs) and smart contracts to enhance user account experiences within wallets. By enabling wallets to conduct diverse signature authentication, complex tasks, and expand possibilities through account contract code, 10K Wallet redefines the DeFi wallet experience.
In alignment with Ethereum’s progress, 10K Wallet aims to offer richer smart wallet features, including order-book style transactions, batch transfers, gas-free payments, and unassisted word transaction signing and recovery. By leveraging Zero-Knowledge aggregation technology, 10K Wallet significantly reduces AA account costs in the Ethereum ecosystem.
As 10K evolves, the goal is to unify asset management and trading within 10K Wallet. The ultimate aim is to surpass centralized exchanges like Coinbase or Binance, becoming the premier coin trading platform and on-chain ecosystem gateway, making blockchain adoption more accessible to the next billion users.
KLP: Unlocking a New Asset Model
KLP, a collection of assets like ETH, BTC, and USDC, serves as a versatile asset for swaps and leverage trading. Its value is determined by a formula based on the total index asset worth, open position gains/losses, and KLP supply. This innovative approach introduces a dynamic element to asset management and trading.
About 10K Pricing and Fees
10K DEX ensures genuine on-chain pricing, aggregating prices from major exchanges like Coinbase, Binance, and OKEx to mitigate latency issues associated with oracles like Chainlink. The platform employs a fee structure that includes position fees, funding fees, swap fees, execution fees, and liquidation fees. These fees contribute to the robustness of the 10K ecosystem.
Understanding Limit Orders and Liquidation
10K offers limit orders, which are executed automatically when the target price is reached, though execution is not guaranteed in all scenarios. Limit orders are a valuable tool for traders but require careful consideration of factors like liquidity and market conditions.
Mandatory liquidation processes are initiated under specific conditions, ensuring the integrity of the 10K ecosystem and the safety of user assets.
Roadmap: Shaping the Future of DeFi
10K envisions a multi-stage roadmap to enhance the DeFi landscape:

  • Stage 1: Launch 10K DEX web on zkSync Era.
  • Stage 2: Integration of 10K Wallet and 10K DEX.
  • Stage 3: Launch multi-chain permissionless trading.
  • Stage 4: Establish a cross-chain trading platform utilizing zero-knowledge proofs for seamless, high-liquidity interaction.
  • Stage 5: Introduce 10K DAO for asset management and key decision-making.

In conclusion, 10K is poised to usher in a new era of DeFi by leveraging Starknet’s capabilities. With a range of innovative products and a strategic roadmap, 10K is committed to shaping the future of decentralized finance, making it more accessible and efficient for users worldwide.
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