Stellar Community Fund

By Phoenix

Phoenix

Liquidity Award - '24 Q1

$50.0K

Liquidity Award

Awarded

The Phoenix mission is building a DeFi Hub on Stellar. We will begin with a decentralized marketplace for all assets on Stellar. Additional DeFi protocols, such as lending and borrowing, will be implemented in the future. Each protocol will synergize and drive value to Stellar and Phoenix. Phoenix will be launching our DEX on May 7th. We had a testnet up on the main app here for the last few months but it was replaced with a countdown to launch. We have had a private mainnet deployment live since our most recent SCF submission. Please do not share. Please note that the indexer is off on real prices on the history and the dashboard. This will be live and maintained on May 7th. https://phoenix-frontend-core-git-mainnet-phoenix-protocol.vercel.app/ Phoenix has also been fully audited by Veridise.

Products & Services

Soroban smart contracts for the first time allows for a "rebirth" of the Stellar ecosystem by enabling true DeFi. Phoenix is positioned to be a key first mover on Stellar building DeFi applications.

In most ecosystems, DeFi protocols are all separate projects and often have their own token. Phoenix is changing that by creating a one-stop-shop hub that meets all the DeFi needs users have. Having a strong DeFi Hub will attract users, drive volume, and increase TVL in the Stellar ecosystem.

Phoenix will target users in 3 stages: Stage 1: Attracting retail DeFi users. We know that DeFi users are interested in new, exciting protocols that are fast, secure, and have the ability to trade all tokenized assets in the Stellar and beyond ecosystems. As the first movers of DeFi on Stellar, we are in a position to attract Stellar DeFi users and users from other ecosystems with a targeted marketing campaigns and airdrop rounds.

Stage 2: Once sufficient liquidity is achieved on the DEX, we plan to target more professional, institutional partners to join the Phoenix Hub. Deep liquidity will be essential for institutional investors in order to avoid severe slippage resulting in loss of funds each trade.

Stage 3: Leverage Stellar's connections in Africa and Central/South America to implement additional real world applications. For example, our NFT Marketplace will evolve to include more of these applications for those without strong existing infrastructure, such as digital identity, voting, and a ticket system. As Stellar continues to onboard users in developing nations, having well established DeFi protocols will empower users to do more with their tokenized assets.

Soroban

Yes

Requested Budget

$50.0K

Go-To-Market Plan

Launch of Phoenix DEX (May 7th)
1. Airdrop for initial liquidity providers, marketing campaign to attract users from other ecosystems. Combining DeFi protocols with Stellar's anchor system, fast speed, and low fees will be a powerful attraction to users in other ecosystems.
Launch of Phoenix NFT Marketplace (Q3)
1. Airdrop to initial participants. Reward and target successful artists in other ecosystems to bring their collections to Stellar.
Integrating anchors bringing assets from other ecosystems (Q3)
1. This will make it easier to attract users in other ecosystems if they can directly bridge their existing assets to Stellar.
DEX Improvements (Q4)
1. Orderbook
2. Concentrated Liquidity
3. Multi-Asset Liquidity Pools
4. Adding additional on/off ramp anchors beyond Kado
Future DeFi protocols (team is planning lending and borrowing for now) (2025)
Implement a ticket system on the NFT Marketplace (2025)