🔐Chimp Exchange - The Encrypted DEX
Welcome to Chimp Exchange, a fully encrypted decentralized exchange (DEX) built on the Ten Protocol.
Overview
Chimp Exchange is designed to provide unmatched confidentiality and encryption to its users, leveraging the robust security features of the Ten blockchain. This guide will walk you through the key aspects and benefits of using Chimp Exchange, including its unique encryption features, tokenomics, and use cases in the DeFi landscape.
The Need for Encryption in DeFi
Context and Background
In 2023, over $1.7 billion were stolen by hackers, underscoring the critical need for secure and encrypted transactions in the DeFi space. DeFi has the potential to revolutionize traditional finance by giving users greater control over their assets and eliminating intermediaries. However, the lack of confidentiality and security in current DeFi platforms exposes users to significant risks.
How Chimp Exchange Differentiates
Our Solution to the Problem
Chimp Exchange aims to address these concerns prevalent in the current DeFi ecosystem. By integrating advanced encryption features like asset tracking prevention, identity disclosure prevention, trading tracking prevention, and liquidation hunting prevention, Chimp Exchange offers a secure and encrypted trading environment.
Additionally, features such as Confidential IDO rounds, hidden liquidity pools, and confidential liquidation levels enhance the platform's appeal to traders and investors seeking confidentiality.
About Ten Protocol
Technical Overview
The Ten Protocol optimizes Ethereum with an encrypted Layer-2 solution. It provides a secure and scalable blockchain platform that underpins Chimp Exchange and helps create the necessary infrastructure for a fully encrypted DEX. The Ten Protocol ensures that all transactions on Chimp Exchange are protected and secure, supporting the platform's goal of offering a confidential trading experience.
✅ EVM Compatible: Yes ✅ Supported Wallets: MetaMask ✅ Encryption: 100% ✅ Scalable: Yes
Key Features
Confidential transactions and computing: TEN offers two types of encryption - confidential transactions that keep token balances, participants, and amounts encrypted, and confidential computing that encrypts the entire smart contract execution.
Scalability and lower gas fees: By combining encryption with Layer 2 scaling, TEN enables Ethereum contracts to operate at a larger scale with lower gas fees.
Secure enclaves: TEN leverages secure enclaves, a hardware-based technology, to provide robust confidentiality guarantees. Secure enclaves ensure that code and data loaded inside are protected in terms of confidentiality and integrity.
Preventing negative MEV: TEN eliminates negative Maximal Extractable Value (MEV) issues where miners exploit transaction ordering for profit. It ensures only positive MEV exists, enhancing transaction security and fairness.
Seamless integration with Ethereum: TEN provides the entire Ethereum Virtual Machine (EVM), allowing developers to easily migrate existing applications without needing specialized knowledge. All standard Ethereum tools are fully compatible.
On the next page, we will guide you through the process of connecting your MetaMask wallet to the Ten Testnet. By following our step-by-step instructions, you'll be able to seamlessly interact with the Ten ecosystem.
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