The program will support FairySwap’s efforts towards building a privacy-preserving and front-running resistant DEX
Findora, a public blockchain designed for programmable privacy, is launching a $3 million liquidity program for FairySwap, a new privacy-focused DEX that’s advancing the “privacy finance” revolution. This is one of the first grants from the $100 million Findora Ecosystem Fund, which was created to support the building of privacy-preserving Dapps on Findora.
FairySwap is a next-generation, community-driven privacy DEX that’s committed to being permissionless and decentralized. By leveraging the zero-knowledge proof technology built into Findora, privacy DEXs and Dapps like FairySwap give users the ability to choose what information they want to be visible on a public blockchain, and what they would rather shield. The information they want to be invisible can still be publicly verified with zero-knowledge proofs without revealing any details.
By keeping certain data in the mempool private but still verifiable, FairySwap can help protect users from flashbot attacks and front-running.
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Building #PriFi
FairySwap is the first DEX to go live on Findora mainnet, thus leading the privacy finance revolution, or “#PriFi” as it’s known on social media. FairySwap minted the first NFTs on Findora on International Women’s Day to celebrate female builders in Web3. These NFTs act as avatars on the network and will give special access and privileges. FairySwap is currently running a giveaway campaign for the first 100 of these FairyNFTs.
FairySwap is also in the middle of its Genesis Giveaway campaign to encourage staking on the platform and has already locked over $5.13 million in value since March 3rd.
“Front-running is one of the biggest challenges that traders face when using DEXs,” shared a VP at Discreet Labs, a leading developer of Findora. “By building on Findora, FairySwap can utilize programmable privacy to resist front-running attacks and create a much more fair trading experience.”
Unlike other projects which reserve a major share of tokens for insiders, 97% of FairySwap governance tokens will all be distributed to the community through liquidity mining rewards, ensuring those who use the DEX will also govern it. In the future, FairySwap intends to create the Fairyverse, adding an RPG game for the FairyNFTs.
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