OraiDEX Streamlines the Process to Bridge Assets
OraiDEX now sports a more user-friendly interface streamlining the process to bridge assets to Oraichain Mainnet. The announcement was made by publishing a blog post.
Oraichain is an AI-powered oracle and ecosystem for blockchains that aims to become the first AI Layer 1 in the blockchain industry while serving as the foundational layer for the creation of smart contracts and decentralized applications of a new generation.
Some of the innovative products and services developed by Oraichain are:-
- Data Hub
- AI Price Feeds
- AI-based NFT generation
- Fully on-chain VRF
- NFT Copyright protection
- AI-powered Yield Aggregator Platform
- CosmWasm IDE
The update follows the announcement where Oraichain shared the information related to Liquidity Mining Program’s Dynamic APR on OraiDEX. Reward payouts come to 150% in $ORAI in case of the pool formed by ORAI/ATOM, ORAI/USDT, and ORAI/AIRI.
However, the total daily payout will vary between pools in the way mentioned below:-
- ORAI/AIRI – 2,000 ORAIX per day
- ORAI/ATOM – 5,500 ORAIX per day
- ORAI/USDT – 5,500 ORAIX per day
200% for ORAI/ORAIX, out of which 100% will be in the $ORAI reward, and the remaining 100% will be in the $ORAIX reward.
Oraichain has standardized the reward payout mechanism across all pools. Feedback for improvements has been invited from the community about reward distribution adjustment.
The $ORAI reward and $ORAIX reward ratio is considered at 1. In other words, liquidity providers are liable to receive an equal reward amount in both forms instead of a fixed ORAIX bonus amount that is split among them.
Meanwhile, ORAI/KWT pool has gone into effect from July 21, 2022. It has been added to the liquidity mining program of OraiDEX. The team at $200,000 funds the initial liquidity, including $100,000 in $ORAI and $KWT each.
Offerings of Oraicahin include:-
- Oraichain Wallet – Allows to store and stake ORAI
- Oraiscan – Network explorer
- OraiBridge – A Cross-chain bridge
- Validators – On mainnet and sub-networks
The AI Layer 1 of Oraichain is a secure and fast CosmosSDK-based blockchain with an optimized sub-network for AI and DPoS consensus. Decentralized data and AI enables establishment of a decentralized economy for services based on AI & data economy.
Users can write smart contracts by leveraging the functionalities of CosmWasm IDE, which Oraichain powers. There is a scope to scale up with Rollup as transaction throughput is the highest with optimistic rollups and zk-rollups.
Another technology that has gained mass attention is its AI Oracles which enables trustless and verifiable AI execution through Proof-of-correctness and proof-of-execution.
The new user-friendly interface introduced by OraiDEX to bridge assets is a sure shot to further its movement in becoming the first AI-powered oracle and ecosystem for blockchains. All the products and services have been developed with AI as the core technology.
The list will only expand in the coming time, with more such announcements expected.