As of 09/12/2024, xExchange V3 is LIVE on Mainnet!
Bringing forth community-requested features and lots of improvements. Let’s go over what’s new:
I. New branding — A strong identity with energy at its core
1. New xExchange logo - creating a strong identifiable brand for the exchange, separate from the MultiversX brand
2. New MEX / xMEX logos
3. Revamped website aesthetics (colors, icons, layouts)
4. Electrification (when opening the home page or hovering the lightning icon)
II. New home page — Clear, Fresh, Powerful
5. xExchange’s mission clearly stated: “Trade. Earn. Discover.”
- “Trade”: The best place to trade tokens if you are a user, and the best place to list your token if you are a project. 180+ tokens listed, 200+ pools, $35M in liquidity. In v3, we continued to improve the trading experience: delightful trading experience + price charts (more below).
- “Earn”: The best place to earn rewards. 19 farms, 13 staking programs, fees collector. In v3, boosted staking rewards + boosted dual farm rewards (more below). Will continue to be a focus for the next releases.
- “Discover”: The best place to discover tokens and projects. In v3, global search + trending tokens + analytics v2 (more below).
6. Trade, Earn, Discover, directly from the home page (show, don’t tell)
- Trade: Many users complained they needed to open the Trade page in order to start trading. No more. The trade form has been added directly to the home page.
- Earn: The top pools are directly shown on the home page, using live data.
- Discover: search bar & trending tokens directly accessible from the home page.
7. Last in the page, a simple presentation of MEX:
- Before, the home page was immediately starting with MEX and taking 90% of the page. When you logged in, you were redirected to your dashboard with the energy sidebar opened by default. MEX and the energy were hindering the user experience.
- In v3, we want to do the opposite: a user should be able to use xExchange without being hindered by the MEX and energy.
III. Boosted metastaking — More energy, more rewards
8. “Metastaking” split into two concepts: “Dual Farm” (LP token) and “Staking” (single token).
9. [New feature] Boosted staking + boosted dual farm:
- Maximally boosted position will get 2.33x more rewards than non-boosted position.
- Will reinforce the value of MEX and energy → new utility for MEX
- Rewards claim will be on Wednesday. On Friday, farms and fees collector. On Wednesday, staking and dual farms rewards.
IV. 1-click position creators — Extreme ease to provide liquidity, stake, get energy
10. [New feature] 1-Click Liquidity Creator: create liquidity position in 1 click
- Before, if you wanted to create EGLD-UTK dual farm from USDC, you had to (1) go to swap page, (2) swap some USDC to UTK, (3) swap some USDC to EGLD, (4) go to the liquidity page, (5) create an EGLD-UTK LP, (6) go to the farm page, (7) create EGLD-UTK farm, (8) go to the dual farm page, (9) create EGLD-UTK dual farm.
- Now, go to the position creator page and directly create EGLD-UTK dual farm from USDC, in one operation.
- Reducing the number of clicks required. Extreme ease to provide liquidity.
11. [New feature] 1-Click Staking Creator: create staking position in 1 click
- Before, if you wanted to create UTK staking from USDC, you had to (1) go to swap page, (2) swap some USDC for UTK, (3) go to staking page, (4) stake UTK.
- Now, go to the position creator page and directly create staked UTK from USDC, in one operation.
- Reducing the number of clicks required. Extreme ease to stake.
12. [New feature] 1-Click Energy Creator: create energy position in 1 click
- Before, if you wanted to obtain energy from USDC, you had to (1) go to swap page, (2) swap some USDC to MEX, (3) go to energy sidebar, (4) lock MEX into xMEX.
- Now, go to the position creator page and directly create xMEX from USDC, in one operation.
- Reducing the number of clicks required. Extreme ease to acquire energy.
V. Price charts — Analyze prices like a pro
13. [New feature] Price charts for tokens: displaying token’s dollar price evolution:
- (1) line chart for normal users
- (2) candlestick chart using TradingView for advanced users. The candlestick chart supports many time resolutions: 1, 5, 15, 30 minutes; 1, 4 hours; 1, 7, 30 days.
14. [New feature] Price charts for pools: displaying price chart of one token against the other. Can be inverted if needed. Also 2 options to select from and low time resolution.
VI. Frictionless trading — Uncluttered, Delightful, Efficient
Trading is the most important activity on xExchange, so we worked HARD to remove all friction.
15. “Swap” page renamed into “Trade”.
16. Significant effort to unclutter the trade form
17. Categories “Community” / “Ecosystem” / “Core” removed - apart from giving tokens an arbitrary status and cluttering the UI, those categories were not adding value.
18. Experimental tokens displayed by default. No need to leave the trade form anymore in case you would want to hide them.
19. Some very annoying quirks removed:
- Logging in doesn’t reset the Trade input and output anymore. Same thing for logging out. This is now seamless.
- Changing the input and output tokens won’t reset the input and output amounts.
20. Shareable trade form - go on the Trade page, select the input and output tokens you want, you will notice that those tokens appear in the URL. Copy the URL and share it.
21. No more “wrap” and “unwrap” transactions:
- Before, when you wanted to trade EGLD for an ESDT token, you had to sign two transactions: (1) wrap EGLD into WEGLD, (2) trade WEGLD for ESDT. Same thing when trading an ESDT for EGLD: (1) trade ESDT into WEGLD, (2) unwrap WEGLD into EGLD.
- Now, we have abstracted this away and you only need to sign one transaction that does both under the hood.
22. [New program] xExchange Liquidity Fund
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4 parts
- Loan for projects outside of MultiversX: The project provides X$ of its own token and xExchange provides X$ of MEX, to create a LP. Example: The project provides 50k$ of token AAA and xExchange provides 50k$ of MEX, to create a pair AAA-MEX with 100k$ of liquidity.
- Loan for projects from the MultiversX ecosystem: The project provides X$ of its own token and one fifth of MEX and xExchange provides four fifth of MEX, to create a LP. Example: The project provides 100k$ of token AAA and 20k$ of MEX and xExchange provides 80k$ of MEX, to create a pair AAA-MEX with 200k$ of liquidity.
- Development grants
- Events, hackathons and other proposals
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Creation of incentives to build on top of xExchange, to provide liquidity, and to buy MEX!
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All details in: https://docs.google.com/document/d/182zTtUhJX1msIyeyvTg02hfPDWEA4PNrm9-N4dsxTPI
- Events, hackathons and other proposals
VII. Lightspeed navigation — Go to any page in a second
23. New “Earn” submenu: it groups all the earning products of xExchange:
- “Liquidity”: ”Pools”, “Farms”, “Dual Farms” merged into a single page
- “Staking”
- “Metabonding”
24. [New feature] Global Search:
- Accessible from the home page and the top navbar on all pages
- Enables token & pool search and quick actions
- Example: You’re on the home page and want to see the price chart of MEX? Click on the search (or type “/”), type “MEX”, go to the page.
25. [New feature] Quick Actions: Keyboard shortcuts in order to do frequent actions quickly
- “/” to open the search
- “Alt+T” to open the trade page
- “Alt+L” to open the liquidity creator
- “Alt+S” to open the staking creator
- “Alt+A” to open the analytics
- “Alt+E” to open the energy page
- “Alt+P” to open the portfolio page
- From any page, you want to go to your portfolio? Just press “Alt+P”
26. Seamless login and logout:
- Before, if you were on the trade page and you logged in, you would have gotten redirected to your dashboard and would have lost all the information inputted in the trade form. Same thing for logout.
- Now, if you are on the trade page and log in, you stay on the same page and don’t lose any information. Same thing for logout. xExchange is now following the industry standard.
27. Multiple pages renamed:
- “Swap” → “Trade”
- “Metastaking” → “Staking” (for single tokens, e.g. UTK) and “Dual Farms” (for LP tokens, e.g. EGLD-UTK).
- “Dashboard” → “Portfolio”
28. Multiple pages added to the menu:
- “Analytics” page added. Always one click away from the analytics.
- “Portfolio” page added. Before, you had to click the “xExchange” logo to access the page, which was hard to guess and not intuitive.
- “Energy” page added.
VIII. Analytics v2 — Metrics to the power of X
29. The analytics home page loads 8x faster while displaying 3x more metrics!
- Before, 10s to load on average. Metrics: Liquidity; Volume; Top pairs; Top tokens.
- Now, 1s to load on average. Metrics: Liquidity; Volume; Number of tokens; Number of pools; Fees; Top pairs by liquidity, recency, APR, activity; Top tokens by liquidity, recency, trending score, price increase.
- Note: In v3, every page in the exchange loads significantly faster, not only the analytics home page. This has been a big focus from the team in the last weeks.
30. [New feature] New “Trending score” metric. This metric is computed for each token on xExchange and takes into account variations in price, volume and trading activity. This metric helps detect tokens trending on xExchange. We don’t plan to reveal the specific formula to avoid people trying to game it.
31. [New feature] New “Trades” metric. This metric corresponds to the number of trades in the pool over the last 24 hours.
32. [New feature] 3 new sorting options for tokens. On top of being able to sort tokens by price, 24h price variation, 24h volume, by liquidity, you can now also sort them by trending score (”Trending”), recency (”New”) and by 7d price change (”7d%”).
33. [New feature] 1 new sorting option for pools. On top of being able to sort pools by “Liquidity”, “Volume (24h)”, “Fees (24h)”, you can now also sort them by trading activity (”Trades”).
34. [New feature] 1 new filtering for tokens. You can now filter tokens by “Experimental” status and only show experimental tokens.
35. [New feature] 3 flavors of price charts. In v3, price charts make their grand debut! And they are coming in 3 different flavors:
- Mini price charts: They let you catch the price evolution at a glance. The price is green when it is above the start price of the chart, and red when it is below.
- Line price charts: They give you a clear and precise view of the price evolution over time, showing continuous. You can choose the time interval “1D”, “1M”, “1Y” or “Max”.
- Candlestick price charts: They provide detailed price information for each price point, including opening, closing, high, and low prices, using colored bars and wicks to represent price movements and market sentiment. You can choose short price resolutions (1/5/10/15/30 minutes) or longer price resolutions (1/4 hours, 1/7/30 days). You can select indicators and any other technical analysis elements.
36. [New feature] Token page. Each token listed on xExchange now gets a dedicated page which contains all information we could seek about a token:
- Price chart, Liquidity chart, Volume chart, all of them with multiple time intervals (”1D”, “1M”, “1Y”, “Max”).
- Trading activity (last trades)
- A token sheet, containing the market cap, number of holders, circulating supply, date of creation, all this information being taken from the explorer
- The list of pools containing that token
- And finally a trade form to buy or sell the token.
37. [New feature] Enhanced pool page. More information:
- Price chart, Liquidity chart, Volume chart, Fees chart. Multiple time intervals
- Pool composition, trading activity (last trades)
- Token sheets for each token in the pool
- A toggle to switch the order of the tokens in the pool and switch all the information
- “Add liquidity” button and Trade form
IX. Portfolio v2 — Your beautiful and powerful cockpit
38. A welcoming and beautiful portfolio. The team has put a lot of care into making the Portfolio a place where it feels good to be:
- Welcoming: Ensuring that the portfolio page looks good for empty wallets.
- “Deposit” / “Buy”. For the moment, simple. But more will come.
- Beautiful: colors, charts, spacing.
39. The key information at the top of your portfolio:
- Total value of your portfolio and the amount of rewards you can claim.
- A quick breakdown of your portfolio.
- When the next rewards will become claimable.
40. Manage all your portfolio from one page:
- Before, you had to go on many different pages to manage your LP, farms, staking and to claim your rewards.
- Now, all this can be done from your Portfolio page directly.
41. Claiming your rewards, a piece of cake:
- Now, you can see everything about your rewards in one place: the amounts, the breakdown, the next time they will be claimable.
- You can claim everything from this page as well. Just click on the two “Claim” buttons.
X. Energy made simple (Energy = Amount x Charge)
The “energy” is a very powerful concept, but many people complained it was too complex to understand. In v3, we completely rethought the way of explaining and packaging it.
42. Introduction of the concept of “charge” and new definition of “energy”:
- Reminder: A MEX can be locked for 1 year, 2 years or 4 years. When you lock a MEX, you get an xMEX.
- Before, let’s say you wanted to lock 900 millions MEX (~$3000) for 4 years. It would give you 900 millions x 4 x 360 = 1.296 trillion of energy. Insanely big number. Impossible to compute in your head.
- In v3, your xMEX locked 4 years (the maximum) will have a charge of 100%, and so its energy will be 900 millions x 100% = 900 millions energy. Easy. If it is locked for only 2 years, half the maximum, it has a charge of 50%. It would give you 900 millions x 50% = 450 millions energy.
- To illustrate the concept of “charge”, we introduced the battery icon.
43. New league names:
- Before: Edison, Faraday, Ohm, Newton, Tesla. Fancy, but hard to remember and order.
- Now: bronze, silver, gold, platinum, diamond. Simple to remember and order.
44. New league thresholds: so much more clarity, more incentive.
- Before: Amount of MEX locked 4 years (charged 100%)
- Edison — 0 MEX ($0)
- Faraday — 3,472,222 MEX
- Ohm — 34,722,222 MEX
- Newton — 347,222,222 MEX
- Tesla — 3,472,222,222 MEX
- After: Amount of MEX locked 4 years (charged 100%)
- Bronze — 350,000 MEX
- Silver — 3,500,000 MEX
- Gold — 35,000,000 MEX
- Platinum — 350,000,000 MEX
- Diamond — 3,500,000,000 MEX
45. “XMEX” renamed into “xMEX”.
46. New energy pages:
- Before, everything related to your energy was extremely packed in a small sidebar
- Now, multiple pages are dedicated to the management of your energy:
- The energy home page contains:
- your energy, league and an explanation of how your energy is computed
- the list of all your energy positions, either xMEX or EGLD-xMEX LP or EGLD-xMEX farm
- your ranking in the energy leaderboard
- Pages to create / remove an energy position or to charge / discharge an energy position
- The energy home page contains:
47. [New feature] Increase the energy of EGLD-xMEX LP or EGLD-xMEX Farm positions without having to break them first.
48. [Fix] You can now hold multiple EGLD-xMEX LP or EGLD-xMEX farm positions simultaneously:
- Before, if you already had an EGLD-xMEX LP position unlocking in 1 year and you wanted to create another EGLD-xMEX LP position unlocking in 4 years, you were forced to merge both positions and only hold one position.
- Now, this limitation has been removed. You can hold as many EGLD-xMEX LP or EGLD-xMEX Farm positions as you want.
49. [Fix] You can now decrease your energy without having to claim your boosted rewards first.
- Before, if you were to decrease your energy before claiming your boosted rewards, you would have lost your boosted rewards. This was done in order to avoid an economic threat.
- After further consideration, we concluded that this measure was not necessary.
- Therefore, you can now freely decrease your energy and still be able to claim your boosted rewards afterwards.
50. Negative energy display:
- This is little known but, as soon as your energy position becomes unlockable, you should either unlock it or recharge it. Otherwise, it will start to give you negative energy! And the more you wait, the more negative energy you get.
- Before, we weren’t making you aware that an unlockable position grants you negative energy.
- Now, we are notifying you if that’s the case.
As you might have noticed, the list above includes several additions that were previously announced to go live in future iterations of v3, by the time the Testnet went live. However, the team has outdone itself over and over again to ship them faster.
A lot has changed in the DeFi space since V3 was announced on the xDay stage, so we may reconsider priorities going forward, but that’s for another day.
An updated plan for the upcoming releases will be shared later on, so feel free to further post your suggestions down below in the comments! 