Yep. Can you guys hear me? Yeah. That's great. Thanks.
We'll give a few more minutes for Freddie folks to trickle in.
- Maybe I'm not right here. - No worries.
Should we go to get started?
Yeah, I'm ready. Awesome. And I imagine people will come in as well as we're going through. But great, let's get this started. So thank you all for joining us. This is Nikhil at the Cell Foundation. Where our vision is to build a regenerative economy. Super excited today to have
Josh from Immortal X. Immortal X for those who you don't know is essentially a perpetual protocol. We'll have about 30 minutes or so for a conversation. I can open up for Q&A as well towards the end. With that, thanks for joining me.
Maybe first thing to do here would be if you can kind of give an overview of what is a mortal X. I know there was previously a mortal die which is coming to an end but now you're launching a mortal X. Can you give an overview Josh of like what what it is and how it works and why you went to go build this.
So as you know, we're in model X as NICIA say is a decentralized but back to exchange and something we figured out in our last protocol in model.finance is that the mechanism that we had
was not as sustainable as we thought it can be, especially when it comes to a bare market. So we are trying to rotate and transition into a perpetual exchange with mechanisms that such as concentrated liquidity world, otherwise known as
So, CLV is a constantly accumulating pool of seriously tokens and every trade will go to the pool since the pool will act as a counter-party for the traders. It will pay for the traders' profit and receive the traders' losses.
As much as the protocol is mainly for trading, we also offer LP and staking services. So what it means is that users can actually deposit their USD into our CLV or stake their IMTX tokens to earn attractive views. As they can earn views, people can actually start to deposit their USD tokens to increase the liquidity of
the thing about CLV is that we actually collect trading fees from our traders to increase our world as well. So we can actually see a constant increase in our CLV. So we don't need to be too scared about our liquidity getting too thin or our liquidity running out.
To support our training features, we will be employing a double Oracle model to piff. The first Oracle that we will use is a lining Oracle for low latency and front running prevention. As not a lot of people know, it's that a lot of Oracle's there are currently being used
they actually allow the users to look at the prices before they are being executed. So we will be having an off-chain Oracle at first and we will be having another on-chain Oracle as our second Oracle. So the second Oracle will actually be the security Oracle that
checks for deviations. This means that whenever there is like a huge price plummet, all I remember that's like a D packing by USDC or USDT or any other stable point will be checking against other oracles, other price speeds that make sure that
that we don't stray too far away due to the deep airing or any other black shorn events. We do have our documentation if anyone is interested in learning more. As of right now, we're hoping to finish updating our documentation before launching our beta.
And there will be no worries. Yeah, and I was just gonna say that there will be it on how we work and definitely ask more questions at the end if they were one two and I can explain more as well. Yeah, one quick follow up question that might be helpful is