Demodyfi Protocol
Last updated
Last updated
The Demodyfi protocol supports the value interoperability between different parachains, allowing the tokens on the Polkadot chain to be quickly traded and circulated. The protocol is integrating and combining communication between different blockchains:
Ethereum Compatibility = “blockchains on parachains Architecture.”
The protocol utilizes Moonbeam’s parachain smart contract interoperability while the Substrate framework serves as a fundamental layer. Combining this makes it potential to build on Polkadot, furthermore make it compatible with the EVM, and to deploy EVM-based bytecode compiled from Solidity using tools available from the Ethereum stack.
We share Polkadot’s values of technological agnosticism, interoperability, and cross-chain collaboration. With the help of our partners like Moonbeam and substrate, Demodyfi is enabling interoperability between chains, regardless of their features. Users will be able to trade multiple crypto assets from Demodyfi’s native decentralized exchange and use its convenient interface to manage their assets across multiple blockchain protocols.
“Demodyfi aims to become a key building block supporting the new, crisis-resilient financial ecosystem.”
By building on Moonbeam, Polkadot and Substrate lay the groundwork for new forms of social organization and decision-making. Demodyfi leverages Substrate's governance and treasury management capabilities along with Polkadot's cross-chain messaging to create a decentralized sovereign wealth fund. The goal for this is to fund and secure a parachain slot and drive further development.
Result, Demodyfi is able to build a next-generation DEX that extends its DeFi product line into a single-source, cross-chain market. The ability to do both pools and cross-chain swaps, powered by the Polkadot ecosystem, which can provide higher throughput for faster and cheaper transactions while remaining connected to the Ethereum Network and other blockchains for liquidity.
A Demodyfi deployment adds significant value to it's end user utility to both Moonbeam and Polkadot. It provides useful DeFi services for investors looking to create investment portfolios consisting of Polkadot-native assets and who are looking for yield on those portfolios. It also provides trading and arbitrage opportunities for traders that will earn fees by helping keep portfolios balanced. And last but not least, it provides a way for teams to bootstrap liquidity for their project. These are all very valuable services that the growing ecosystem of Polkadot native assets needs.
