🌊 Incept Riding the Riptide 🌊
We have a slew of updates to share as this month has been quite a busy one. In this article we will be giving a general overview of Incept, discussing our submission to the Solana Riptide Hackathon, and explaining next steps. Let’s dive right in!
Quick Overview of Incept
Incept is a synthetic asset DEX that boasts the most capital efficient AMMs in DeFi due to our novel Comet Liquidity System. This system allows liquidity providers to use comets to concentrate their liquidity with double the efficiency of Uniswap v3. Also, comets require the contribution of just one token from Incept’s accepted list of collateral assets rather than having to acquire both of the assets in the pools as traditional liquidity providers are required to do. Liquidity providers can also recenter their comet automatically and cheaply with a simple click of a button, instead of having to close and reopen a new position. Combining these factors makes providing liquidity to Incept more efficient and simpler than providing liquidity anywhere else. You can read more about comets in our previous medium article. Not only do comets amplify the liquidity in our markets and help us maintain tighter asset price pegs, but our front end and design teams are going the extra mile to make UX on Incept as intuitive and familiar as using a centralized exchanges. Our ambition is to onboard the next billion DeFi users to the incredible Solana blockchain, so creating a pleasant user experience is a top priority for us. You can find out even more information about us by checking out our Solana Riptide Hackathon submission.
Over the course of the last month we have been dedicating all of our team’s time and resources for submission to the Solana Riptide Hackathon. Our submission consists of a video presentation (including both a presentation and a very early demo of our Incept Liquidity Interface), as well as a link to our website, our most recent whitepaper, and few more links to relevant information. We were also able to submit fully functional demonstrations of both our trading and liquidity interfaces but have chosen to keep those demos private until we are ready to launch officially on devnet. We are incredibly proud of the progress that our team made in such a short amount of time, and we cannot wait to hit even more exciting milestones in the future.
Future plans for Incept are entirely dedicated to quick and successful devnet and mainnet launches. We have exciting new components planned for these launches, including Comet Managers. Comet Managers will allow individuals to maintain comet liquidity positions that others can contribute to for a small percentage of their profit. Liquidity providers will be able to see those who run the most effective comets and can benefit from the best strategies without having to worry about managing the comet themselves. Other components that we plan to add include multi-pool comets, leverage trading, and much more. We will be putting out articles to explain all of these exciting features as well as to give more specific updates on our timeline for devnet and mainnet. Stay tuned by following our twitter and joining our discord. Join the hundreds of other rocketeers on our mission to build the most powerful and accessible trading experience in DeFi!