Why We’re So Excited To Bring Capital DEX to SKALE
Liechtenstein, November 19, 2021
Picture the scene: you’re a small-time investor, with a few hundred dollars to invest in this thing you’ve heard about called DeFi. Perhaps you’d like to swap some tokens on an Automated Market Maker (AMM), or use leverage on a decentralized perpetual exchange.
Just one snag: transaction costs are mooning, and won’t return to earth any time soon. That AMM swap could cost you 50% or more of your principal capital. The situation is even worse when it comes to NFTs: dive into Crypto Twitter (CT) and you’ll find countless examples of four-figure minting fees. For Ethereum bulls, this just demonstrates the (extremely high) value of the Ethereum blockspace. But what about those of us now priced out of the future of finance?
CurioDAO’s aim has always been to make investment more accessible, using all the innovation that crypto has made available. Prohibitively expensive transaction costs go against our whole ethos. We want even the smallest investors to be able to buy a stake in tokenized luxury collectibles and other real-world assets (RWA). When such investors have to spend half their capital on gas, something is most definitely wrong. Thankfully, with the advent of sidechains, multichains and L2 solutions like Optimism, Arbitrum and SKALE, DeFi is once again becoming fun and affordable, while maintaining the security guarantees of the Ethereum network.
In terms of quality partnerships (with the likes of MakerDAO, NEAR and Chainlink), and in terms of users and contributors, CurioDAO already has plenty of traction. However, to achieve our goals we need scalability at all levels. Below we explain why SKALE provides the best solution.
Why we chose SKALE
So, if there are already more than a few Ethereum scaling solutions, why did we choose SKALE, specifically? While gasless transactions (more on that below) are obviously going to catch people’s attention, there is so much more to be excited about.
SKALE is FAST. Whereas Ethereum can handle around 15 transactions per second (tps), SKALE handles 2000 tps, with transactions confirmed in less than a second.
Bridging to SKALE is quick and easy. Optimism raised eyebrows with their week-long wait for users to get their assets off the network. There is no such hassle for SKALE users, who can enter and exit SKALE in just 18 seconds using their IMA bridge.
SKALE is secure. Where sidechains like BSC are plagued by security and centralization concerns due to their limited validator set, SKALE has discovered several innovative solutions (such as their pooled validation model) to ensure users don’t lose the security of the Ethereum network when moving their assets.
SKALE is more than just NFT-friendly. Real-world asset NFTs are a cornerstone of CurioDAO (just take a look at rollapp.store). As mentioned above, skyrocketing fees for minting and trading NFTs have locked out a lot of eager traders and investors, while privileging the mega-rich whales. SKALE’s decentralized file storage ensures that NFTs retain all the security and authenticity associated with the Ethereum network while providing a user experience (UX) that is light-years ahead of the dispiriting status quo.
Last but definitely not least, SKALE enables GASLESS transactions. That’s right, not “cheap” or “less expensive” transactions, but completely gasless contract interactions. So, now, if you want to buy a wrapped token representing a share of CurioDAO’s Ferrari F12TDF, you no longer need to fund your wallet with more than a hundred bucks of ether.
SKALE Integration with Capital Dex
Today, the CurioDAO team is delighted to update capitaldex.exchange in anticipation of the imminent integration of SKALE. To keep our community even more hyped about the new tech, which will allow Capital Dex users to enjoy gasless transactions, the team is launching a new farming pair, $SKL — $CGT, with a juicy 800% APY. This offer is valid until the full functionality of Capital DEX is available on SKALE, after which the APY may drop.
At CurioDAO, we want our dapps as well the governance of our protocols to be as open and accessible as possible. With our innovative tokenization model, we want absolutely everyone to be able to invest in assets that have typically been reserved for the wealthy. These assets include luxury collectibles like cars, watches, wine and art, as well as real-estate. The possibilities are infinite, and the traction is there. Let’s open the floodgates.
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