March 2022 Updates

Lynn Choy -

March was yet another exciting month at Switcheo Labs. As we embark on a new quarter of 2022, let’s look back on all that has transpired!

  1. SWTH/OSMO pool on Osmosis

Following Carbon’s Inter-blockchain (IBC) protocol integration, the SWTH/OSMO pool was added on Osmosis allowing anyone to acquire SWTH with Cosmos-based assets such as OSMO, ATOM, UST and JUNO! Having SWTH available and as an IBC-asset on the leading interchain DEX on Cosmos is vital in onboarding new users to the Carbon protocol and unlocking liquidity from the Cosmos ecosystem.

To incentivize initial liquidity, 6M SWTH from the Switcheo Development Fund (SDF) have been allocated as rewards to the pool (approved by the community through governance) and further matched with OSMO rewards through the Osmosis incentive matching scheme.

Since launch, the SWTH/OSMO pool has garnered great response from the community, reaching a peak TVL of $1.9M and $365k in trading volume!

Source: info.osmosis.zone

2. AMA event with @Cosmos_Spaces

Led by key Carbon and Cosmos community member @lilgainzz, we were thrilled to be able to engage more closely with community through an AMA with @Cosmos_Spaces! The AMA shed light on the inner workings of the Carbon protocol, roadmap for the future and the most recent IBC integration!

3. Neo Polaris Launchpad Panel Discussion

As long-time collaborators with Neo, co-founder of Switcheo Labs, Ivan, was invited as a speaker for Neo’s inaugural Polaris Launchpad panel discussion to speak about DeFi and his experience building in the crypto and  DeFi space.

Watch the panel discussion below!

4. Neo N3 Integration

The Neo N3 mainnet integration was completed on Carbon, enabling support for Neo’s new feature-rich and robust Neo N3 protocol — the biggest and most powerful evolution of the chain since its inception. With the integration complete, SWTH was also successfully migrated on Flamingo Finance as a new FLM-SWTH pool! Liquidity rewards were reactivated, allowing stakers of the FLP-FLM-SWTH pool to continue earning FLM rewards!

SWTH can also now be migrated from the Neo Legacy to the upgraded Neo N3 version via Demex. A native migration portal for all SWTH token migrations will be coming soon to CarbonHub.

For more details about the Flamingo and SWTH migration process, view our blog post here.

5. New Carbonscan charts

Carbon’s blockchain explorer Carbonscan saw the addition of 3 new charts for enhanced visualization and better analysis of on-chain information such as user, staking and transaction data. The charts are also complete with features such as date-range selection with adjustable resolutions and specific event/token filters for more granular analysis!

Total Carbon users

Since the mainnet launch of Carbon in January, user growth has doubled! And in March alone, the number of Carbon users grew by over 30%.

Source: scan.carbon.network

Staking rewards

Source: scan.carbon.network

Transaction data

Source: scan.carbon.network

6. ZOLAR — Summoning of Metazoa

To ascend to ZOLAR, Metazoa NFTs must first be summoned (minted) and in March, a total of 1,288 Gen0 Metazoa were summoned over three phases.

  • Phase 1: The Elder Quest
  • Phase 2: The Transcendence
  • Phase 3: The Gold Rush

With the recent conclusion of Phase 3: The Gold Rush, Metazoa must now prepare for the epic battle between the Ursas and Minos for $HUNY in Phase 4: Takers of the Moon! Players who’ve missed their chance to summon Metazoa will be able to recruit them on ARKY now!

7. Extension of liquidity rewards on Demex

Liquidity rewards on Demex were extended in March for another 3 months (12 weeks) through a governance proposal that reallocated pool reward weights based on the following considerations:

  • Removing rewards for under-utilized and deprecated pools
  • Capping rewards for non-SWTH pools
  • Simplified methodology for choosing pool weights
  • Lower rewards for stablecoin / correlated pools
  • Addition of IBC-based pools
  • Addition of ZWAP pool

View the full proposal details here.

8. Travala AVA listing on Demex

Travala is a blockchain-based travel booking platform trusted by thousands of customers globally for the best prices! It’s native AVA token propels Travala’s vision to bring transparent pricing, innovation, enhanced security and efficient stakeholder authority to the travel industry, and we couldn’t be more delighted that AVA is now listed on Demex.

The AVA/SWTH market and pool were added by the community via governance, and has been allocated a 4x reward weight based on [CIP-4], earning users up to 40% APR! (at the time of writing).

Start adding liquidity to earn rewards or trade AVA directly on Demex.

9. Switcheo Research

In March, the team of analysts at Switcheo Research have been deep-diving into meaningful trends and projects making waves within the crypto and DeFi realm! Read more about their analyses and findings for the articles below: