Glyph Exchange Brings Algebra Integral (The V4) to BTC-fi

Glyph Exchange is integrating the latest DEX architecture, Algebra Integral, to enhance advanced DeFi users’ experience in decentralised finance. The Algebra Integral powers DEX pioneers with a unique modular structure of liquidity, known as “hooks” (the Uniswap V4 conception), based on the concentrated liquidity engine, providing more composability and opportunities for liquidity providers and traders.

Notable DEX in top tier ecosystems such as Camelot (Arbitrum), Thena (BSC), Hercules (Metis), and Quickswap (Polygon) adopt the Algebra technology to take DeFi to the next level. As the flagship DEX of the most Bitcoin ready ecosystem, Core, Glyph Exchange is gearing up with Algebra Integral to ignite the entire BTC-fi narrative.

What is V4 (Integral)?

Through the foundational Uniswap V2 AMM, DeFi veterans have been establishing the pillars of decentralised finance. The weaknesses of the V2 have been improved by the Uniswap V3 model, offering the idea of concentrated liquidity to empower users in designing trading fees and range to control impermanent loss.

To bring further capital efficiency and composability to DeFi users, the Integral/V4 model introduces two major design concepts, the separation of the concentrated liquidity engine (core code base), and the unique modular architecture (plug-ins).

The former consolidates capital efficiency to the liquidity provider, and the latter complements a composable layer to them. Such a concept moves the existing monolithic DEX architecture to a modular future. As a liquidity provider or trader of the Integral/V4 pools (trading pairs), the stronger control and more accurate calculations of dynamic fees and additional programmability with the plug-ins create a blue ocean of on-chain yield farming, arbitrage, and token/coin investment opportunities. Automated buybacks, exclusive LP fee structures for entry/exit, 100% of fees exemption, impermanent loss mitigation, and many more possibilities are from now on a reality on the Integral/V4 DEX model.

The Core code

The Core code of V4 is the heart of the platform, hosting the fundamental features necessary for DEX key functionality. It manages liquidity pools and the basic mechanics of DEX operations, serving as an immutable and unchangeable core to ensure the security of users’ funds. This Core code minimises gas wastage, streamlining gas costs and increasing efficiency.

The Plugins

Plugin is a smart contract that connects to a Pool’s contract and expands its functionality.

These are the plugins that will be introduced upon our launch:

• Dynamic FeePlugin: boosts commission earnings for LPs by up to 20% through an algorithm that adjusts fees based on risk, volatility, trading, and pool volume. This minimises price slippage and impermanent loss for Liquidity Providers.
• Built-in On-chain Farming Plugin: let users earn rewards directly within the DEX, eliminating the need for external platforms and enhancing profit opportunities.
• TWAP Oracle Plugin: acting as Oracles, providing access to historical price and volatility data.

These plugins are in our roadmap:

• Limit Order
• A whitelist / blacklist / KYC system
• Gas discount, or compensation mechanisms
• Solutions for JIT liquidity issues
• LVR (Loss-Versus-Rebalancing) / Impermanent Loss reduction

The Benefit

Concentrated Liquidity

Glyph V4’s concentrated liquidity allows providers to allocate capital within specific price ranges, enhancing capital efficiency and potential returns. This reduces slippage and improves trading execution compared to V2, making it more attractive for traders and liquidity providers.

Dynamic Fee

The V4 dynamic fee plugin benefits swappers, liquidity providers (LPs), and arbitrageurs by adjusting fees based on market conditions. For swappers, it offers lower fees during periods of low volatility and trading volume, making trades cheaper. LPs benefit from increased fees during high volatility, which compensates for potential losses and enhances returns. Arbitrageurs gain from the efficient price adjustments, allowing profitable opportunities while maintaining overall market stability​.

The dynamic fee plugin is a key player for the Core ecosystem to become the leading hub for synthetic $BTC asset trading.

Built-in Farm

Before Glyph Exchange’s TGE, users can benefit from V4 built-in farm plugin by providing liquidity into selected pools. The reward will be distributed into G-points token, which is the ticket to redeem a series of token airdrops.

Plus, liquidity providers will be qualified and boosted for Core ecosystem airdrop campaign. 

About Algebra Labs

Algebra is a dedicated team that specializes in research and development within the Automated Market Makers (AMM) space. In 2021, as a DEX solutions team, we made a significant impact by launching the first decentralized exchange with improved dynamic fees and built-in farming features, distinguishing itself from other platforms.

Algebra has established successful partnerships with more than 25 decentralized exchanges, encompassing notable names like QuickSwap, THENA, Swapsicle, Camelot, SwapBased, and others. This collaboration has resulted in a total TVL of $120 million, and they are continuously expanding their network of partners.

At present, Algebra is a technology leader. Even before the launch of Integral, our prior iteration, Algebra V3, had already achieved remarkable success and held a prominent position on various networks, including Polygon, Arbitrum, Polkadot, BNB, and more.

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About Glyph Exchange

Glyph Exchange is the Core chain flagship DEX backed by the finest of the Bitcoin ecosystem. Glyph Exchange is emerging as the liquidity hub of synthetic BTC assets, offering the most BTC trading pairs in the DeFi economy. We are the only Bitcoin-themed DEX with progressive web app (PWA) and the latest DEX tech, Integral/V4 for BTC-fi users.