The New Home of Liquidity; Pact Launches on Mainnet
A significant step in our development roadmap, our AMM (Automated Market Maker) launched on mainnnet today, with users now able to officially swap their crypto on the protocol. By design, Pact is the only AMM currently offering liquidity providers back 100% of liquidity pool fees they accumulate. This is the icing on the cake of an already exceptional user experience making swaps and pools even more accessible to crypto enthusiasts. Beyond our own success, today’s launch is a momentous event for the entire Algorand ecosystem, with AMMs being an integral cog within any DeFi economy.
Visit the Home of Liquidity now: http://www.pact.fi/
The Journey So Far
After officially launching the project in October 2021, we’ve been hard at work behind the scenes. With a laser-focus on building the most user-friendly AMM protocol on any blockchain, exploding transaction costs, front-running, and network congestion will be a thing of the past. From the outset, the Pact community has been growing steadily across our Twitter, and Discord channels.
The launch of our testnet product in January 2022 was the first time that users were able to experience the aesthetic appeal of the purposefully simple UI design. This launch was integral in fine-tuning our product to build the most robust AMM. Significant focus and time has gone into improving the UX, with a fresh focus on ‘mobile-first’ usability, as well as remediating any functional bugs.
The Pact Platform
Having completed our initial development phase on testnet, we’re proud to present the first version of the Pact mainnet product. Bringing speed and forward thinking to a lagging financial landscape, we leverage Algorand’s speed, security, scalability and carbon-neutral features to their full potential.
Our next-generation blockchain solution offers four-second block finality, no forking, and low transaction fees (currently around 0.1c USD), thanks to the Algorand network. Pact has been founded on a renaissance where economical and democratised access creates a world for people to be the masters of their own destiny.
As well as the technical advantage that Algorand provides, its DeFi ecosystem is poised for explosive growth with hundreds of projects currently in development for launch in the next 12 months. This will serve to further increase the appetite for an Algorand based AMM such as ours.
What’s Next For Pact
History has shown that multiple liquid AMM platforms can co-exist and actually make the broader environment healthier and more sustainable. Though the initial iteration of these products on Algorand may feel similar, future iterations will naturally evolve distinct transaction styles and speciality areas of focus.
While the launch of mainnet is a hugely significant milestone for us, it merely marks the first chapter of our platform’s ongoing development. We will continue to seek user feedback and enhance the platform, striving for perfection at every turn.
In the age of convenience, people will continue to thrive on accessible and inclusive technologies. That’s why we’ll continue to deliver the seamless integration of financial assets on our non-custodial, decentralized platform. A world where secure, safe, and reliable DeFi is available to the Algorand eco-system through our product.
Welcome to Pact, the Home of Liquidity — powered by Algorand.