🐽PEPA Product Update
Explore DeFi Marketplace in Fuel Ecosystem
Since founding, PEPA team has been consistently building and is dedicated to build a decentralized, comprehensive, and user-friendly financial station on Fuel network, the fastest execution layer.
Over the past few months, we have pushed ourselves even harder to bring improvements to our product design as well as technical development.
Since we started building PEPA Market on Fuel, we benefited tremendously from the excellent community support of Fuel’s ecosystem. The Fuel network community has provided us with a developer-friendly platform with clear guidelines and insightful examples. We wish to take this opportunity to thank the Fuel Network team and people who are active in the Sway community for their support and feedback.
Let‘s go through what we have for this update, starting with our tech team：
Product Development:
As the development progresses, we discovered loads of possibilities empowered by the Fuel modular execution layer. Fuel reconstructed everything from the legacy paradigm and launched its own tech stack including FuelVM and its new language Sway. The new tech stack is free of technical debts of the legacy paradigm and overcomes some compromises in Ethereum’s design. We took Fuel’s advantages and designed our PEPA Market to utilize Fuel’s technical characteristics at maximum.
Fuel provides superior transaction processing throughput, which makes it possible to execute more complex pricing algorithms for DEXes, increasing PEPA Market’s capital efficiency. One of these complex algorithms that can be empowered by Fuel is the Proactive Market Makers (PMM). It inherits the basic idea of Automatic Market Makers (AMM) which updates token pair exchange price by the number of tokens respectively in the exchange pool. One of the biggest improvements is that the PMM algorithm introduces an oracle price when quoting prices. By centering more liquidity around the oracle price, the PMM algorithm can achieve a better liquidity utilization against AMM algorithm.
Fuel VM provides a bigger memory space than EVM. The 64 MB shared memory provides developers better flexibility on utilizing memory-intensive algorithms and designing products that require such algorithms. The on-chain order book design is one of the use cases that require a memory-intensive algorithm for order matching. PEPA believes the order book model is the ultimate solution for blue chip assets: it offers unrivaled flexibility, price precision and liquidity utilization. By building on Fuel, we have the ability to design an orderbook model in our DEX. Meanwhile, we do recognize the bootstrap liquidity requirement for launching an orderbook based exchange.. Therefore, before we fully transition into an orderbook DEX, we are providing the orderbook mode as an auxiliary option on top of AMM+PMM for our users with advanced needs.
PEPA Market is comprised of the three aforementioned market making algorithms (AMM, PMM, Orderbook). We merged them using a smart routing algorithm that finds the most efficient option for our users. We are constantly researching and experimenting with more capital efficient low-cost algorithms for PEPA users and our community.
Backend:
On the smart contract side, we are now testing the initial AMM mode of PEPA DEX, which includes the ability to create and swap tokens as well as route trades. Multi-hop routing, liquidity mining, and dynamic pricing are all elements that we are testing.
Our backend service integration with the test contract is currently under construction. Our test coverage is expanding. In the upcoming update, we expect to have our core service ready for front-end integration and testing.
Our Features:
PEPA’s provision of an integrated one-stop marketplace for token swapping, liquidity mining, generating and launching new tokens, and trading liquidity bonds is one of its defining characteristics. The marketplace is user-friendly and straightforward to navigate. In addition, we’ve implemented a functionality that enables users to personalize and mint their own tokens, providing them greater control and flexibility over token creation and launch.
Website Launch:
We are excited for the official release of our PEPA Market landing page. Here is a preview of our new landing page:
Where’s the name “PEPA” from?
One of our co-founders has a loving frenchie called PEPA. We want our product to have the same character of a frenchie, who is playful, alert, adaptable, and completely irresistible. We are building PEPA market to be a reliable, easy-to-use, and versatile DeFi station on Fuel Network.
Community:
We believe being transparent to the community is crucial for our success. Over the past few weeks, we have been actively working on social media and community development. We are collaborating with other Fuel ecosystem projects and partners to further explore new DeFi primitives made possible by Fuel Network.
Fuel Ecosystem:
We are embracing the Fuel community and making our commitment towards a better Fuel Ecosystem. Being an ambitious rollup solution aiming at solving existing performance and development issues, Fuel Network values developer experience. We wish to show our appreciation for dev tooling that Fuel Network has provided and the very helpful communication on Sway language.
What’s Next？
All the updates are designed to provide a seamless and enjoyable DeFi experience for our users. PEPA is constantly working to optimize our platform and we are expecting more to come in our next update. The PEPA Market contract suite is the first item on our agenda. To ensure the security of our protocol, we are implementing a range of tests covering our entire protocol. Our underlying service will be updated to accommodate the new functionalities. Furthermore, features from the website’s backend are brought forward in the frontend with new UI/UX features added.
We are so excited for what we can achieve together with the Fuel network. PEPA sees the future of blockchain modularity in Fuel, and we are honored to be part of it.
🐽Oink ‘ed by @PEPATEAM
Check for more info and stay tuned @PEPAMARKET
