How Pangolin becomes a premier DEX in DeFi: Roadmap For 2021
The roadmap for establishing Pangolin as a premier DEX in DeFi.
The Pangolin team has begun planning and developing an exciting roadmap that focuses on new features, ecosystem expansion, and continued iteration that will make Pangolin better than ever. The following areas have been identified as key to the success and long term growth of the Pangolin project.
Listing on Centralized Exchanges has been a highly requested feature from the Pangolin Community. Listings are also aligned with our strategic vision of exposing the PNG token to as many users as possible.
The benefits of CEX listings are as follows: bring additional price points to the PNG token, provide on and off ramps directly to the Avalanche C-Chain, and allow a wider range of users access to buy and sell PNG.
A major milestone was recently achieved when PNG was listed on Gate.io, a top 10 exchange. The Pangolin team is also engaged with more exchanges for additional listings. It’s worth noting that we need US legal council and certain legal structures set up to move forward with certain exchanges.
Single-sided staking of the PNG token for yield is another highly requested feature. Our goal is to give long term PNG holders the option to stake their PNG and earn yield through emissions or through fee sharing.
The benefits of staking will be to encourage holding the PNG token for a longer duration of time, and to allow PNG holders to gain yield on their investment.
From the engineering side, there are many aspects of staking to consider such as: locking, deposit/withdraw fees, buybacks, and burning. We also need to thoroughly test and audit new smart contracts and code to ensure the safety of our users and deposited funds.
We are engaged with a talented UX design firm to to overhaul the user experience, branding, and UI of the Pangolin front-end.
The current state of the Pangolin app is a clone of the Uniswap V2 front-end and we would like to take Pangolin in its own unique direction. The benefits of an improved front-end are to differentiate from other competitors, and to make the over Pangolin experience better for our users.
Previews of a new logo, design wireframes, and additional design features will be posted in the following weeks. We will be engaging with the community about which direction to take the new logo.
We are also exploring the idea of a mobile app to further give Pangolin an additional competitive edge over other DEX competition.
PNG rewards pairs incentivize the type of liquidity pairs that are pooled in the Pangolin app. Deep liquidity pools provide the necessary infrastructure to facilitate high swap volumes, robust token variety, and help with lending and borrowing platforms.
Feedback from the community has been to weigh the PNG pairs more heavily than the non-PNG pairs. The first step in this direction was to install a variable weighting system with PNG pairs at 3x multiplier and AVAX pairs at 1x multiplier. Recently, a proposal also passed to increase the AVAX-PNG pair to a 10x multiplier.
In addition to adjusting existing pairs, we will add more pairs from both native projects and external project. Native projects need our support to increase their standing in the ecosystem and external projects need our support to get traction with popularizing their tokens and products. Promoting these projects will ultimately drive more liquidity and volume into the Pangolin app, which benefits all parties involved.
A major goal of the Pangolin team is to improve upon the existing governance system. The current system has the following limitations: a long on-chain process (11 days), lack of PGL support for voting, and a technical limitation for how many changes can be made with each proposal.
An improved governance system will allow users more access to vote for changes they want to see, as well as allow the project team be more agile in proposing new changes.
Partnerships with both native projects and external projects are key to the success of Pangolin and the Avalanche DeFi ecosystem. The team will seek to form meaningful relationships and synergies with existing projects building on Avalanche . As the largest DEX, our role is to support native builders and projects to help the ecosystem thrive. The benefit of native partnerships is to grow the Avalanche DeFi ecosystem from within, as well as bring more liquidity and volume to Pangolin.
For example, a native lending/borrowing platform like BenQi is a natural fit for a partnership with a large DEX like Pangolin, and we have been actively engaging with their team.
We will also continue to make connections with projects from other chains that want to come to build on Avalanche. The benefits of Pangolin partnering with external projects are to bring new users to the Avalanche network, attract new liquidity, and to recruit talented engineers to build in our space.
For example: Frax Finance and Beefy Finance have reached out to Pangolin for help with co-marketing, community building, and liquidity incentives. These are established players in the Ethereum and Binance Smart Chain (BSC) spaces, with large communities and high TVLs. We would love to have them start building on Avalanche as well.
Solutions that help users get liquidity onto the Avalanche network and into the Pangolin app are an essential piece of infrastructure. The currently scattered state of bridges on Avalanche can be difficult for users to navigate. Our vision is to provide a bridge-agnostic user experience within the Pangolin app so that users can seamlessly bridge assets to Avalanche using various bridges under the hood.
Educating and on-boarding new users into DeFi and Avalanche is an important mission for Pangolin. We will facilitate this through the Pangolin Academy, where we provide content and courses for users to learn DeFi.
Additionally, we will pursue a faucet implementation so users can easily get started with a bit of AVAX to pay gas fees when they initially bridge funds over.
The life blood of the Pangolin project is its community. We will increase engagement across all mediums: Telegram, Discord, Twitter, YouTube, Medium, AMAs, and more so that we can get meaningful information in-front of our users and community.
We will be gathering feedback directly from users through AMAs, polls, and daily engagement. International language support within our app and in telegram channels will be added as well.
Becoming a premier DEX
The roadmap for the remainder of 2021 will require continued engagement from our great community, close collaboration with our current and future partners, and gradually building out a strong core team to deliver on key features.
This roadmap will establish Pangolin into a solid position in the DeFi landscape. After establishing a solid foundation with the current roadmap, we will look forward to even more exciting innovation in a V2 roadmap that will be revealed at a later date.
About Pangolin Exchange
Pangolin Exchange is a community-driven decentralized exchange (DEX) with fast-settlement, low fees, and a democratic process. Built on the Avalanche Network. Pangolin brings you the best trading opportunities to find and maximize your yield.