Today, we are super excited to announce that Double has been launched on Arbitrum to become the on-chain liquidity solution for the Arbitrum ecosystem. By solving liquidity challenges for natively issued or bridged tokens, by attracting massive capital into Arbitrum, and by increasing TVL and indirectly trades on AMMs, Double will not only propel Arbitrum to cement its dominant leadership position in DeFi and on-chain trading among all L2s, but also empower it to take crypto trading market shares from CEXs.
Arbitrum One, a leading Ethereum Layer-2 scaling solution, has 54%+ TVL in the L2 segment and 2000+ live DeFi and NFT projects in the ecosystem to date. It also dominates L2 on-chain crypto trading and recently its DEX trading volume even surpassed Ethereum’s volume. In off-chain CEX crypto trading, the liquidity infrastructure formed by thousands of professional market makers plays a critical role in driving the successful CEX crypto trading. However, Arbitrum does not have an equivalent on-chain liquidity infrastructure, which hinders its growth and limits its potential.
Introducing Double, the essential on-chain liquidity infrastructure that Arbitrum has been waiting for! As an AMM-LP side only innovation, Double effectively democratizes the widely used CEX marketing making agreement model (loan + option) for AMMs, and empower projects to offer the same benefits normally exclusive to CEX pro MMs to 300k+ AMM LPs, either institutions, whales, or retails. With its many innovations, Double adds tremendous value to the whole Arbitrum ecosystem: 1) It solves liquidity challenges faced by token projects; 2) It attracts incremental capital into the Arbitrum ecosystem; 3) It increases TVL and indirectly swaps on AMMs.
Similar to the AMM design, Double is a true permissionless protocol that any holder of any token can freely deposit and withdraw tokens into Double. During the initial launch, Double only integrates with Uniswap v2 and Uniswap v3 on Arbitrum One. In the coming near future, Double will integrate with other AMMs in the Arbitrum ecosystem and launch them through phases.
Calling all Arbinauts who hold tokens on Arbitrum One like ARB, GMX, PENDLE, RNDT, GNS, LPT, now you have one more important tool to help your beloved projects — deposit your unused tokens into Double (via the Token tab) so Double’s strategic capital providers can support on-chain liquidity for your beloved projects. Holders of AMM LP tokens can easily import and eventually migrate their LP tokens into Double (via the Pair tab) instead of a more complicated process to unwind their LP positions first and then deposit into Double.
Besides helping your beloved projects, Arbinauts will be able to use those otherwise unused assets, either project tokens or AMM LP tokens, to earn DDJ (Double Dip Joy), designed like airline loyalty mileages but with strong utility, via Double’s innovation — Liquidity Mining 2.0 (LM2). By design, DDJ has no premine and has strong protocol native demand. To highlight, Double’s LM2 innovation will issue DDJ to any project token and any AMM LP token. Different from many other protocols, there will be no governance vote to decide which assets will receive DDJ and how much.
We are honored to officially become Arbinauts and eager to contribute to the entire Arbitrum community. Whether you are a token project, a liquidity provider, an AMM, or just an individual member, feel free to reach out to us via Twitter or Discord. Let’s Double-To-Win!
