[PRESS RELEASE – Zug, Switzerland, May 21st, 2024]
Cardinal Cryptography, core developer of the zero-knowledge, privacy-focused blockchain Aleph Zero, announced today the launch of Common Automated Market Maker (AMM), the first mainnet release of a novel DeFi platform, Common. Positioned as a decentralized exchange (DEX), Common’s Automated Market Maker (AMM) delivers a user-friendly trading experience, complete with the built-in bridge between Aleph Zero and Ethereum, MOST, and the initial rollout of the platform’s broader capabilities.
Introducing Common AMM and Bridging on Aleph Zero
With the Common AMM rollout, Common takes the first step on a journey to becoming a multi-chain DeFi suite designed to optimize the trading experience by addressing trading efficiency, enhancing on-chain confidentiality, and boosting liquidity–all while ensuring users retain full custody over their assets. Rooted in research developed by Cardinal Cryptography and Nethermind, Common will transcend traditional trading platforms by integrating a comprehensive all-in-one app experience. This will include a built-in wallet, seamless on- and off-ramps, and IBAN account integrations, setting a new standard in user convenience and financial integration.
Launched on Aleph Zero, Common AMM embodies the network’s commitment to on-chain privacy, robust security, and high performance within a user-friendly framework.
Key Features of Common AMM Now Live:
- Liquidity Pools and Farming: Allows users to provide liquidity and to potentially earn through farming, starting May 21st.
- Bridging: Common AMM includes a built-in bridge between Aleph Zero and Ethereum called MOST, which allows users to seamlessly move assets between the different networks.
- Swapping Mechanism: Enables straightforward token exchanges, to be enabled on May 23rd, after a liquidity building period.
Looking forward, Common is set to expand into a full-scale DeFi suite, as detailed in the Common Whitepaper. Future upgrades will include a privacy-enhanced order book, comprehensive solutions for institutional trading, as well as support for EVM-based blockchains. These features are built on Aleph Zero’s commitment to data confidentiality and regulatory compliance, addressing the needs of an evolving DeFi environment.
Common Drops: A New Reward Initiative
Concurrent with the launch, the Common Drops campaign will reward the community’s engagement. These tokens, initially non-transferable, will later be redeemed for CMN, the platform’s native token, after it goes live. Users can participate in Drops by staking AZERO and providing liquidity in Common AMM.
For more information, users can refer to the latest blog post.
Navigating Regulatory Challenges with Privacy-Focused Solutions
As regulatory landscapes evolve, Common offers a robust platform that aims to seamlessly blend stringent compliance with financial privacy.
Uses can experience seamless trading on Common AMM today and follow the development of the Common platform as it evolves to become the ultimate privacy DeFi suite.
For more information about Common, users can visit https://common.fi/ and read the Common Whitepaper. Users can already try the app on the Aleph Zero Mainnet.
About Aleph Zero
Aleph Zero is a layer 1 blockchain engineered for speed, data confidentiality, and ease of development. It achieves efficiencies akin to conventional web2 systems, upholds rigorous standards for data protection via Zero Knowledge Proofs. Aleph Zero’s versatility is highlighted by over 40 use cases being actively developed, showcasing its adaptability across various sectors and applications. These use cases are part of an engaged community and growing ecosystem of web3 applications that are supported by Aleph Zero programs.
For more information, users can visit https://alephzero.org/
For media inquiry
Josh Adams, josh@serotonin.co
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