Asteroneo has launched a non-custodial exchange on the Neo X EVM sidechain, and plans to release an NFT project. [Edit: The NFT launch was planned for Aug. 19 but has been delayed, with a new date not yet confirmed.] The DEX is aimed at offering users the ability to provide liquidity to pools, swap tokens between pools, and take advantage of high-yield farming opportunities.

The Asteroneo team is a pseudonymous group of developers that claim over fours years of experience in building DeFi applications. The team opted to build on Neo X because it views it as a chain with many opportunities and wish to establish a suite of DeFi tools and products for the ecosystem.

Source: Asteroneo

The DEX’s codebase is modeled off Uniswap V2’s code, deploying the long-standing exchange’s automated market maker. AMMs allow users to trade tokens permissionlessly and automatically through liquidity pools. The platform has a 0.17% trading fee, of which 0.1% will be rewarded to liquidity providers, and the other 0.07% will go to the development team.

Asteroneo is currently limited to swaps between GAS and WGAS, with plans to expand support as more tokens enter the X ecosystem.

Asteroneo Features

Other products in the Asteroneo pipeline include a project launchpad, a farming module, and an NFT series.

The launchpad module is intended to support new projects that are launching in the Neo X ecosystem. Asteroneo plans to introduce an initial DEX offering feature with two fundraising methods: overflow and standard handicap.

In the overflow model, a cap is applied on the assets allocated to the raising team, even if contributions exceed the target goal. Final token allocations are made to individuals based on the total weight contributed to the sale, and any funds raised beyond the goal are redistributed back to participants.

In the standard handicap model, the IDO will conclude once the hard cap goal has been met. Since only a limited number of participants can enter the IDO, this model is designed to create a sense of urgency and build excitement for people to participate.

The farming module is intended to go live once Neo Global Development has launched a bridge for multichain assets on Neo X to offer diverse yield farming opportunities. Asteroneo will deploy a dual-token standard: ASTR and xASTR.

The ASTR token will be a liquid asset that platform users stake to earn xASTR. xASTR is a non-transferable governance token that will also serve as the primary vehicle for token emission distribution. When users earn xASTR, they can hold the token or swap it for ASTR within Asteroneo.

NeoNaut NFTs

The Asteroneo team has also announced its NeoNauts NFT project, comprised of a 5,000 NFT collection of custom, in-house designed space-themed cat characters that are planned to also offer utility to holders.

Source: Asterneo

The team intends to release an initial drop of 500 NFTs at a discounted price of 1 GAS each. Additionally, for every three users an individual invites who subsequently mint an NFT, the referrer will receive a NeoNaut NFT.

The NFTs are designed to increase yield farming reward rates and IDO purchase allocations via the launchpad, and offer revenue-sharing opportunities from trading fees collected on the platform. The Asteroneo team has also alluded to additional features, though they weren’t included in the NeoNaut NFT series announcement.

The first drop of the NeoNaut NFTs can be purchased with GAS.

The DEX can be accessed at the link below:
https://app.asteroneo.com/#/swap

Tags: , , , ,