DeFi solves many problems: exclusivity, obstacles, inaccessibility, complexity, censorship, human factor and many others.
We envision the world where financial products are decentralized and as native and comfortable as traditional finance. It was this insight that prompted the creation of Spectrum, a native cross-chain DeFi ecosystem.
What is Spectrum?
Spectrum is based on 2 main products: Spectrum.Finance and Spectrum.Network.
Spectrum.Finance — a cross-chain dApp with DEX and wallet, based on Spectrum.Network.
Spectrum.Network — our Layer 2 solution to make quick, cheap and cross-chain DeFi come true (read about it here).
SPF will be the native Spectrum token.
Spectrum.Finance will help the community to use all opportunities of cross-chain DeFi through our DEX and Wallet.
Now we are actively developing our DEX. There will be many new features inside it:
- Yield farming;
- Zap (providing liquidity using one pool asset);
- P2P trades;
- Limit Order swaps;
- Protocol analytics;
- Ledger integration;
And of course Ergo — Cardano cross-chain transactions.
We plan to start implementation of Ergo — Cardano cross chain transactions using Rosen bridge. Later we will conduct them through Spectrum.Network.
In addition to DEX, we plan to assemble a special team to develop Spectrum.Wallet. It will help become a convenient solution for Spectrum.DEX users and will also initiate the development of our own mobile app, where our Wallet and DEX will be combined.
All parts of Spectrum.Finance will be merged into one dApp.
Have all your basic DeFi needs in one place.
Spectrum.Network will help Spectrum.Finance to work cross-chain, quickly and cheaply. First we will add interoperability between Ergo and Cardano via Spectrum.Network. In the future, we plan to add other networks. Ethereum is one of our first priorities. Moreover, Spectrum.Network will allow any DeFi project to enter our ecosystem.
Spectrum.Network development order:
- Networking protocol specification and implementation. This point is currently in progress;
- Generalized Blockchain Data format specification;
- Implement networking layer;
- Spectrum.Network reference client architecture specification;
- Implement consensus layer;
- Implement and run a testnet with a simple bridge based on early Spectrum.Network;
- Add support for smart contracts;
- Setup a testnet.
In addition to strong DeFi products we will also try our best to help the whole DeFi ecosystem grow step by step. The team will also place great emphasis on encouragement for the assistance provided in the development of the Spectrum ecosystem. This will be implemented in the form of a bug bounty program and grants for developers.
The Spectrum.DAO will be needed then to transfer ownership of the protocol to the community.
There is no need to mirror systems existing in traditional finance. We want to build a new one, adhering to first principles of crypto: personality protection, absence of centralized custody, no data or assets restrictions, grassroots economy.
Spectrum built the first eUTxO DEX, assembled a strong team and united a large community. We do not plan to stop there and will continue to improve a large-scale project that goes beyond one blockchain.
Our priorities for this and the next quarter are the release of the DEX on the Cardano blockchain, the addition of new features and to reach the first milestones on Spectrum.Network. We will keep you posted on all changes and updates.
Learn more about Spectrum: