ROAD TOWN, British Virgin Islands, March 22, 2022 /PRNewswire/ -- Flype protocol transforms a time-consuming, multi-step process into an effortless single swap that we call "Flypping". it turns LP tokens into tradable assets, thus creating an entirely new liquid market.
Change Liquidity Positions in a single swap
Flyppers can seamlessly switch positions between different liquidity pools and protocols in a single transaction. They can also Flype-in to create new positions or Flype-out of existing ones.
Instead of lengthy withdrawal procedures with multiple token exchange pairs, Flype enables direct trading of LP tokens by relying on its unique market maker mechanism — IMM.
IMM stands for Flype's Interoperable Market Maker mechanism, which computes the value of the LP tokens based on their underlying asset's Oracle price and pool reserves. This unique mechanism significantly reduces divergence loss for liquidity providers as compared to common AMMs.
The Liquidity Market
DeFi protocols and liquidity pools have evolved into an enormous ecosystem with more than 500 protocols and over 10,000 pools, creating new lucrative investment opportunities.
All the while, changing tokens' position between pools and protocols has been an expensive and time-consuming multi-step process, creating a high entry barrier for new traders and liquidity providers to navigate the market.
At present, a liquidity provider who has a position in UNISWAP's WBTC-ETH pool and wants to change to a more solid one like the USDC/DAI pool, would have to go through the following steps:
- Withdraw the underlying pair of tokens (WBTC + ETH)
- Swap ETH tokens to USDC
- Swap WBTC tokens to DAI
- Give the UNISWAP's protocol access to expand USDC
- Give the UNISWAP's protocol access to expand DAI
- Deposit the USDC + DAI into the USDC/DAI pool
The Flype Advantage
- Multi-Yield Layers - Flype creates an unprecedented opportunity for liquidity providers to generate multiple yields by providing LP tokens as liquidity to the Flype protocol. Liquidity providers earn trading fees while enjoying full profitability from the underlying asset pools.
- Cost-efficient - Flype unlocks significant gas fee reductions… Save up to 85% on gas fees just by Flypping LP tokens!
- Cross-protocol - Flype protocol enables effortless swapping of LP tokens across multiple pools and protocols for optimized liquidity management.
FLYPE is a DEX protocol for swapping LP tokens in a single transaction.