Automated Market Maker
The goal of ImmutaSwap is to provide an Automated Market Maker (AMM) cryptocurrency exchange for ERC20 token holders within the Immutable X network. AMM’s are ubiquitous within the crypto space and popular decentralized exchanges such as Uniswap have set the standard for the kind of features that users have come to expect. The ImmutaSwap cryptocurrency exchange will initially only provide a subset of these features but will continue to evolve as project and the Immutable X platform matures. The new feature roll-out will be as follows:
- Phase 1: Eliminate the need for an NFT intermediary. Most changes will be transparent to the users and the process of exchanging will be reduced to the QuickSwap feature. All liquidity will continue to be provided by ImmutaSwap.
- Phase 2: ImmutaSwap will release an API which will allow games, marketplaces, and other services to integrate cryptocurrency exchange features directly into their apps.
- Phase 3: ImmutaSwap will release an ERC20 token that can be used to reduce fees and receive certain VIP perks and rewards.
- Phase 4: This version will allow Liquidity Providers (LP) to contribute funds to ImmutaSwap liquidity pools. LP’s will be issued LP NFT indicating their stake and they will be able withdraw their funds at any time.