Hello MULTI/DEX 🔥 Should DFINITY release the most powerful DeFi application the world has ever seen?
What's cool about it? Here are some factoids, the craziest at the end:
1. It runs on an ICP cloud engine (soon everyone can have one) and is 100% network resident and tamperproof.
2. It is genuinely multi-chain, with no bridging hassles for users (users can deposit straight into their accounts, and withdraw directly, from the native chains of tokens).
3. It is order book based, but also provides a traditional swap interface, which swaps arbitrary assets by routing across the underlying markets.
4. It supports both spot trading, and margin trading that lets traders go long and short with leverage.
5. It has an AMM (Automated Market Maker) that uses Internet Computer outcalls to determine outside prices, then delayed matching against AMM limit orders to prevent arbitrageurs draining liquidity, as can occur with traditional DEXs providing swaps.
6. The AMM maintains a unified liquidity vault, and doesn't need two liquidity pools for every trading pair, providing outstanding capital efficiency and liquidity compared with traditional DeFi systems.
7. Users can earn by depositing into the AMM Vault, and into an insurance pool that protects the vault from margin calls that fail to recover all capital (the insurance pool gets 5% of all liquidations).
8. MULTI/DEX runs on the decentralized Internet Computer network, and is 100% open source — unlike HyperLedger, say, which remains closed source, and has an single-purpose architecture closer to federated CEX hosted on a symmetric cluster of federated servers.
9. If we go ahead, we would propose that MULTI/DEX runs as part of the Internet Computer, in the sense it is controlled and updated by the NNS (The Internet Computer's Network Nervous System, the world's largest and most sophisticated DAO, which directly orchestrates and updates the network) providing unparalleled levels of autonomy, transparency, and security.
10.... and this is the BIG ONE... its backend is built using the latest Motoko language framework (soon to be released) that puts AI *inside* of its software. That means, in another seminal inventive step from DFINITY and Caffeine Labs technology teams, that AI can see, browse and query the realtime data inside the app/dapp's persistent memory and can create and execute ad hoc queries and update logic on-the-fly (subject to permissions). So, while for much of the time traders will be using the traditional UX shown in the pic, increasingly, they will be interacting with the exchange through AI chats that have the "Internet Computer Connector" MCP installed (soon to be released). On the one hand, traders will be able to use chat to ask for simple things, like current spot pricing and market depth, and the likely slippage on a spot market order, and for orders to be submitted, but on the other, for much more demanding things that require the AI to execute ad hoc functionality, such as "Look at my positions and margin pools, and rebalance them to give me more blended market exposure, while also adjusting for risks indicated by social media coverage of forthcoming market events, but wait for my approval of your plan before proceeding."
This is a lot to take in, so I'm aiming to get a new demo video out ASAP that will demonstrate what's possible with this AIware, which will include MULTI/DEX — should be about a week!!
Btw. for those wondering what might be the big picture beyond what I just described with MULTI/DEX: At DFINITY, we are in the process of transforming ourselves into an "agentic organization," where all our existing apps/SaaS is replaced by custom on-demand apps/SaaS running on cloud engines that are created and updated by AI. Of course, these on-demand apps/SaaS are being built using the new technology described that automatically puts AI inside and provides users with fluid functionality via chat. The totality of the apps/SaaS represents an enterprise "World Model," which incorporates as much of the enterprise's data as possible, enabling AI to perform incredibly powerful analyses and actions — when you see this is in action, you can't unsee what you saw, because it's clearly a huge leap beyond the status quo of today's tech, which is exactly what the Internet Computer project is about. This wraps up our new technology stack, created by leaning on unique aspects of "The Network is The Cloud" paradigm, and years of work, and what, together with cloud engines, will finally enable the Internet Computer to strike out into the massive mainstream cloud technology market.
@dominic_w@dominic_w are you able to share some details on which enterprises are currently in pipeline for this? Which industrry is the focus target initially?
Soon I will demonstrate how AI can be "inside" an arbitrary ICP app, service or website built using the latest Motoko, understanding all its data, analysing it any way you want, and taking actions, without need for one special line of code. Insane and groundbreaking.
Friday, the network changes.
Thousands of autonomous explorers will begin traversing $ICP simultaneously.
Burning cycles.
Searching the topology.
Competing for discoveries.
Generating rewards fully on-chain.
No other chain was built for this.
DYVR is not launching another game.
We’re launching an autonomous exploration economy native to $ICP.
12 Noon UTC.
Big upgrade incoming for $ICP signing infrastructure!
Introducing Fused Signing; our new protocol that lets a smart contract (or multiple contracts) co-sign alongside the user.
Each party holds its own independent key.
Fully non-custodial.
User remains fully in the loop at every step.
True sovereign multichain control is about to get even stronger.
https://t.co/23xUzFuyhl
#ICP #MenesProtocol #FusedSigning
The @coinbase ICP-USDT delisting is a non-event for liquidity!
ICP’s primary trading pair on Coinbase is and remains USDC, nothing changes there.
What’s disappointing is the complete lack of advance communication. A simple heads-up would have allowed us to help clarify this to the community and prevent unnecessary FUD during an already volatile market.
Exchanges should do better than 24-hour public notice for operational changes that can shake trader confidence, even when the actual impact is minimal.
Back to business.
Some say $ICP is a Ghost but data does not agree!
#ICP still has active core development by @dfinity Foundation
ongoing grants and ecosystem funding fully on-chain apps and hosting capabilities
A technically unique architecture (canisters, reverse gas model, web-speed smart contracts)
Active governance through the Network Nervous System (NNS)
Technically, ICP is one of the more ambitious Layer 1 designs:
smart contracts can directly serve web content
apps can run entirely on-chain
#Bitcoin integration without bridges exists
AI + on-chain compute narratives fit ICP better than many chains
The real issue is adoption and network effects.
All in all, ICP looks to have exciting prospects and we even see nice Bullish Divergence and the 'green shoots of spring' in the green bullish candles that follow.
One to watch imo
WooCommerce is now running on WordPress inside WASP on ICP
This is a huge milestone.
https://t.co/DX82kOqnUB
We are not just running a static site.
We are not just running a basic WordPress page.
We are now running real plugin-heavy PHP workload inside ICP canisters.
No VPS.
No traditional hoster.
PHP + WordPress + WASQL + WooCommerce on ICP.
Load times are improving progressively, and we are getting closer to something big:
A decentralized hosting layer for the existing PHP and WordPress world.
WASP is building the bridge from Web2 to Web3.