After so many hype Wey the Alephium team don dey drop since, the time for our Core dApp public testnet don finally come.
“Powfi” dey represent one of the biggest and sharp update Wey Alephium don drop since e Mainnet for 2021. This public testnet launch so go kick-start Phase Two of the Alephium roadmap, Dem dey call this one “Aligned Economics”.
All this one na make e comot Alephium from just being a high-performance L1 but e go turn am into a self-sustaining, and fee-generating economic ecosystem. We go talk about that one later no worry.
Oya, make we understand wetin Powfi mean from a Technical showcase.
Powfi go become the protocol-owned benchmark (the Oga), Wey go show wetin Alephium fit do fully to the public as a Proof-of-Less Work technology. At the Koko of this whole thing, e get wetin dem dey call a Concentrated Liquidity Market Maker (CLMM) DEX wey go blow your mind.
One thing wey you no know na say, the Alephium developers don dey cook this update for many months now and instead make Dem do wetin everybody dey do, Dem say no. Some of the things wey Dem add na implementation of fully exchange contracts and core staking protocols.
Powfi DEX: The Alephium's Deflationary Liquidity Layer.
Every successful network wey dey this industry get one thing in common; their primary DEX de become the center of trading activity, fee generation, and many other things. When e happen like that, the network go fit De generate revenue wey go fit sustain the network for years.
Na the same thing wey Powfi wan do for Alephium so with e own CLMM DEX. As everything de grow for the network, all the fees wey e go generate go go back inside. Observe wetin I mean;
- Dem go first use 50% of the fees to buy back and permanently burn $ALPH.
- The other 50% so go come de shared between $ALPH stakers.
Another good thing for this Powfi so na say any other dApp fit intigrate am. Which mean say e go lead to deeper liquidity and shared economic alignment.
Powfi Staking: The Alephium’s Unifying Economic Layer.
One major problem wey we De observe for this space na “fragmentation”. We go see crypto projects generate money but e no dey ever show for their token price or even their holders nothing show for them.
Phase Two of Alephium go solve this thing.
Instead of letting profits enter only application owners hand, the Alephium team reason say e go better make everybody follow touch the reward so. Na why they assign a particular portion of the fees to $ALPH stakers. So if you be $ALPH staker, you must chop from that fees.
But e no go stop there at all. Even more dApps on Alephium begin distribute rewards to $ALPH stakers, you go still chop from that one too. So far say you de follow them stake $ALPH.
So shey you see say na big pot of sweet passive money for long-term believers.
Battle-Testing the Backend Logic & Smart Contrast Stability.
This Powfi testnet so go de focused on auditing the backend logic and smart contract stability of the DEX.
“You wey be user, how you go fit position make you make $$ from this testnet so?”. The Alephium team don open a bug hunting bounty, so if you feel say you sabi hunt for bugs, then you know what to do.
Observe the links so you no go click wrong thing;
Powfi: https://powfi.alephium.org/
Discord Discussions: https://discord.com/channels/747741246667227157/1471500764470972486
Report bugs wey you find for here: https://discord.com/channels/747741246667227157/1471503694162952367
Disclaimer: This is a community-run blog for third-party contributors. The views expressed here are those of the authors and do not reflect the official Alephium project. This content is for informational purposes only and does not constitute financial, legal, or investment advice. Cryptocurrency carries risk and is highly volatile. Information may be incomplete or outdated. Always conduct your own research. We disclaim liability for any loss or damage resulting from reliance on this article.
