For the first Oasis Sapphire-powered secret DEX, illumineX, Oasis announced a grant. illumineX will hasten the development of a permissionless and private trading platform on Oasis for all of Web3 with assistance from the Oasis Grants Program.
First Confidential DEX illumineX, Backed by Oasis Sapphire, Receives Grant
Without Oasis Sapphire, illumineX would not be able to provide crypto natives with the opportunity to secretly purchase, swap, and use assets across many chains. Tokens are transferred to the Oasis Sapphire runtime and wrapped in distinctive, private ERC-20 tokens when used or traded on illumineX. These wrapped assets are distributed along with other private tokens to user-specified destination chains and addresses.
Oasis Sapphire is an integral part of the illumineX project, and the confidentiality that DEX users demand would not be possible without it. We’re excited to receive support from the Oasis Foundation to use Sapphire in bringing onchain privacy to all of Web3.
Alice Yudina, CEO of illumineX
The illumineX DEX’s launch on Sapphire’s mainnet and testnet, which will handle private ERC-20 tokens, will be made possible by the Oasis grant. Based on these requirements, the grant for a total of $45,200 was authorized as of August 7, 2023.
Oasis is excited to support the illumineX team as they continue to push the boundaries of innovation for private, secure onchain asset swaps and transfers. Private tokens and the native confidentiality support from Sapphire create a powerful platform for Web3 natives to safely navigate the onchain landscape.
Will Wendt, Ecosystem Growth Manager at Oasis
About IlumineX
For all of Web3, llumineX serves as the first DEX constructed on Oasis Sapphire, offering secure and practical multi-chain token transfers as well as MEV-free swaps. Users of llumineX can transfer money, trade tokens, and switch chains with only a few clicks, all while maintaining 100% privacy and avoiding the possibility of getting frontran by lurking MEV hunters.
Leave a comment