What Is Matrix Labs (MATRIX)?
Matrix Labs (MATRIX), previously known as Matrixswap, built a DeFi products ecosystem that seeks to exchange for maximized returns and minimized risks for traders. Matrix Lab's products concentrate on grasping unaddressed demand in decentralized finance (DeFi) in a user-friendly and innovative way that is open to everyone. Matrix Labs seeks to build decentralized, robust, multichain DeFi protocols that are unrestricted. Matrix Labs comprises three core DeFi products—MatrixZap, Matrixswap, and MatrixPerp. These products aim to work collectively to deliver an effortless DeFi experience for new and advanced traders.
Matrixswap is the DEX Aggregator; a DEX sums billions in liquidity from four chains—Avalanche, Polygon, Fantom, and Binance Smart Chain. Matrixswap seeks to permit traders to swap numerous tokens into a single asset under a single transaction in an emergency.
MatrixPerp is a decentralized protocol based on a virtual automated market maker (AMM) deployed on the Polygon (Ethereum layer 2) blockchain. Unlike traditional AMMs, traders can trade any assets' permanent contracts with up to 10 times leverage. While mostly decentralized derivative trading forums meet liquidity concerns, the Matrixswap vAMM seeks to offer unlimited on-chain liquidity.
MatrixZap is a feature that seeks to allow traders to immediately eliminate the tokens into liquidity pools (LP) of high-yield to earn rewards instantly. This feature removes the issue of converting the tokens into the needed tokens for staking within the LPs.
MATRIX token is native to the platform and is the governance token of Matrix Labs. This ERC-20 token has the privilege to suggest voting rights to proposals, modifications to the protocol, and general project direction via ZionDAO.
History of Matrix Labs (MATRIX)
In the first quarter of 2021, the platform introduced a liquidity mining program. In the fourth quarter of the same year, Matrix Labs combined Binance Smart Chain (BSC) with Matrixswap. The platform also arranged a trading competition on the Beta Mainnet.