Breaking New Ground in DeFi: Ascent Exchange’s Groundbreaking Migration to Horizen EON

Welcome to another compelling installment of Hacker Noon's "Innovators in Crypto," where the spotlight shines on the changemakers forging ahead in the cryptosphere. In today’s talk, we’re joined by David Paulson, the dynamic force behind Ascent Exchange's strategic leap onto the Horizen EON platform.

Ascent Exchange has been a buzzword in the crypto community, synonymous with cutting-edge DeFi solutions and a steadfast commitment to user empowerment. Their bold migration is not just a transition; it's a transformative journey toward setting a new standard in decentralized trading.

So buckle up as we dive into the mechanics of Ascent Exchange’s groundbreaking move, explore the fresh and vibrant rebranding efforts, and discover what this means for the future of DeFi. Let’s get the insights straight from the source. David, it’s fantastic to have you with us. Share with us, if you will, the vision that is propelling Ascent Exchange into its exciting new phase.

Ascent Exchange Revolutionizes Decentralized Trading with Horizen EON Move

Ishan Pandey: Hi David, it's a pleasure to have you with us for our "Innovators in Crypto" series. As we dive into the story of Ascent Exchange, can you begin by sharing your journey and the pivotal moments that led to the inception of Ascent Exchange on Horizen EON?

David: Thank you for inviting me to share insights about Ascent Exchange in this interview. My name is David, and I'm excited to delve into the transformative journey and innovative features that make Ascent Exchange a standout in the DeFi space.

Ishan Pandey: Migrating from Polygon to Horizen EON is a bold move. Can you elaborate on what makes Horizen EON the ideal platform for Ascent Exchange and how does it enhance the trading experience for your users?

David: The inception of Ascent Exchange on Horizen EON was a culmination of identifying the need for a more robust, scalable, and user-centric DeFi platform. Our journey began with a vision to simplify and secure DeFi transactions, and the decision to build on Horizen EON was driven by its exceptional scalability, privacy features, and a supportive community.

Migrating from Polygon to Horizen EON was a strategic decision. Horizen EON provides a more scalable and secure environment for our users, enhancing the trading experience with faster transaction speeds and lower fees while maintaining a high degree of decentralization.

Horizen EON's full Ethereum Virtual Machine compatibility, coupled with its robust features like the Cross-Chain Transfer Protocol (CCTP) and zkSNARKs technology, facilitates seamless, permissionless cross-chain communications. This transition is further bolstered by Horizen's extensive node network, ensuring a decentralized, secure, and reliable environment for Ascent Exchange, aligning with our commitment to providing a top-tier, user-centric trading experience.

Ishan Pandey: Ascent Exchange is the first to implement ve(3,3) tokenomics on Horizen EON. How do you think this first-mover advantage positions you in the market, and what are the long-term benefits you foresee?

David: Ascent Exchange's adoption of the ve(3,3) Tokenomics model with V3 Concentrated Liquidity marks a significant milestone in the platform's evolution. This advanced feature is tailored to work seamlessly with the veAEX model, providing liquidity providers with enhanced control and flexibility. The key aspects of this integration include:

• Concentrated Liquidity: This allows capital allocation within specific price ranges, enhancing capital efficiency and the potential for higher returns​​.

  
  

• Multiple Fee Tiers: Liquidity providers can choose from four different fee tiers (0.01%, 0.05%, 0.25%, 1%), optimizing earnings based on their risk tolerance and market outlook​​.

  
  

• Automatic Range Options: The platform offers four automatic range options – Full Range, Safe, Common, and Expert – each catering to different risk and return preferences​​.

  
  

• Custom Price Ranges: For those preferring a hands-on approach, there is the option to set custom price ranges, further enhancing the flexibility of the platform​​.

  
  

• Enhanced Returns and Lower Slippage: By focusing liquidity within specific ranges, higher returns can be achieved with the same amount of capital. Additionally, concentrated liquidity can lead to lower slippage, improving the trading experience for users​​.

  
  

  This first-mover advantage with ve(3,3) Tokenomics on Horizen EON positions Ascent Exchange as a leader in innovative liquidity solutions, offering a more efficient, flexible, and user-friendly trading environment.

  
  

Ishan Pandey: Partnerships are often the lifeblood of burgeoning platforms. Can you talk about your collaboration with Wave GP and the significance of their maximum per-project allocation to Ascent Exchange?

David: The collaboration between Ascent Exchange and Wave GP represents a significant vote of confidence in Ascent Exchange's capabilities and future potential. Wave GP, as Horizen EON’s dedicated liquidity provider, is committing their maximum per project allocation to Ascent Exchange. This strategic move will ensure that the most traded and popular liquidity gauges on Ascent Exchange are backed by deep and stable liquidity. Such a partnership not only underscores the trust and confidence in Ascent Exchange's market position but also enhances the platform's ability to offer robust and reliable trading experiences for its users.

Ishan Pandey: In the wake of your strategic shift, Ascent Exchange underwent a significant rebranding. How important is branding in the crypto space, and what message do you want to convey with the new design and colors?

David: The rebranding strategy of Ascent Exchange aligns closely with the vision and innovative spirit of Horizen EON. This rebranding is not just a visual makeover; it's a strategic alignment that reflects the advanced technological framework and forward-thinking approach of Horizen EON.

By adopting a new design and color scheme, Ascent Exchange aims to convey a message of dynamism, innovation, and user-centricity, mirroring Horizen EON's commitment to scalability, security, and a robust ecosystem. This synergy in branding underscores a shared commitment to setting new standards in the DeFi space, highlighting both Ascent Exchange's and Horizen EON's dedication to leading the charge in blockchain innovation.

Ishan Pandey: For users looking to join Ascent Exchange, what steps should they take to set up their Horizen EON wallet, and how does the $ZEN gas token fit into the overall user experience?

David: Setting up your Horizen EON wallet involves a few simple steps, especially if you're using MetaMask or Cobalt Wallet. For MetaMask users, here's how to add Horizen EON:

1. Open MetaMask: Launch the MetaMask browser extension or mobile app.
2. Access Settings: Navigate to 'Settings' and then to 'Networks'.
3. Add Network: Click on 'Add Network.’
4. Enter Network Details: Choose to 'Add a Network Manually' and input the following details:

   • Network Name: Horizen EON

   • New RPC URL: https://eon-rpc.horizenlabs.io/ethv1

   • Chain ID: 7332

   • Currency Symbol: ZEN

   • Block Explorer URL: https://eon-explorer.horizenlabs.io/ As for the $ZEN gas token, it's the native token used for paying network and transaction fees on the Horizen EON network. $ZEN can be acquired from major exchanges, including LBank, and can be withdrawn via the EON chain.

     
     

In addition to MetaMask and Cobalt Wallet, Sphere by Horizen is another option for accessing the Horizen EON network. Sphere is a multifunctional wallet that supports both ZEN and other tokens on the Horizen network.

For transferring ZEN to Horizen EON, a feature known as "Forward Transfer" is utilized. This mechanism allows for the movement of ZEN from the main Horizen blockchain to the EON platform. Forward Transfer is an integral part of ensuring fluidity and ease of transactions within the Horizen ecosystem, enabling users to effectively participate in the Ascent Exchange platform on Horizen EON.

Ishan Pandey: Looking ahead, what can users and investors expect from Ascent Exchange? Are there any upcoming features or developments that you're particularly excited about?

David: Looking ahead, Ascent Exchange users can expect a suite of new features, including advanced trading tools, more diverse asset offerings, and enhanced security measures. We are particularly excited about integrating AI-driven analytics to provide users with deeper market insights.

Ishan Pandey: Community is central to Ascent Exchange's philosophy. How do you engage with your community, and what role do they play in the platform's governance and future direction?

David: Our community plays a vital role in shaping the platform's governance and future direction. We engage with our community through regular updates, open forums for feedback, and incorporating their suggestions into our development roadmap.

Ishan Pandey: In a space that's becoming increasingly crowded, what distinguishes Ascent Exchange from other DeFi platforms, and how do you maintain a competitive edge?

David: Ascent Exchange stands out in the crowded DeFi space through its user-centric design, innovative features like ve(3,3) tokenomics, and a strong focus on security and scalability. We maintain our competitive edge by constantly evolving and adapting to the needs of our users and the market.

Ishan Pandey: Lastly, as we're seeing shifts in regulatory landscapes across the globe, how is Ascent Exchange preparing for potential changes in DeFi regulation, and what impact do you think this will have on the industry?

David: In response to changing regulatory landscapes, Ascent Exchange is proactively engaging with regulatory bodies and staying ahead of compliance requirements. We believe that regulatory changes will bring more stability and trust to the DeFi industry, benefiting platforms that are prepared and adaptable.

In conclusion, Ascent Exchange is committed to continuously pushing the boundaries of what's possible in DeFi, ensuring that our platform remains at the forefront of innovation, security, and user empowerment.

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