We are thrilled to announce that we’ve been working with the team over at Algebra to integrate Brevis into a special brand-new plugin for DEXes using Algebra Integral! The plugin will enable users who hold a specific NFT, gained through the purchase of a subscription service, access to trading fee discounts on Integral-powered DEXes and opens up a multitude of additional possibilities as well!
Algebra Integrates Brevis Slot Value Proof and Develops Discounted Swap Integral Plugin
Algebra Integral is a leading DEX engine with a unique modular architecture that enhances DEX functionality and flexibility. It achieves this by splitting the typical DEX setup into two main components, the core codebase managing liquidity pools and fundamental mechanics, and then the plugins added as needed to introduce additional features such as Dynamic Fees and On-chain Farming.
The newly developed Discounted Swap Integral plugin integrates Brevis Slot Value Proof to seamlessly apply a trading fee discount to the NFT owners completely trust-free:
So how exactly does our ZK coprocessor facilitate the implementation of this smart feature in a trust-free manner?
- By integrating Brevis Slot Value Proof API, Algebra passes the user’s address to the Brevis Prover Network to generate a ZK proof confirming ownership of the required NFT by the user’s address on Ethereum mainnet.
- The ZK proof is relayed to the network where the DEX is deployed and verified on-chain by the verifier contract in a trust-free manner.
- Then the verified information affirming the user’s genuine possession of the NFT on Ethereum is fed to the Algebra contract, triggering the trading fee discount during the swap operation on the DEX.
Unlock the True Power of Data-Driven DeFi With Brevis
The development of the Fee Discounted Swap Integral is just the beginning of what promises to be a mutually beneficial and innovative alliance between Brevis and Algebra. Beyond the Fee Discounted Swap feature, there are many more use cases that can be empowered by utilizing Brevis as a ZK coprocessor and we are enthusiastic about collaborating with Algebra or any other DeFi partners who are interested in jointly building such use cases or features!
Here are some scenarios and use cases that are possible in the future:
- A Dynamic Fees plugin that would automatically adjust the commission values within the pool based on the TWAP calculated by Brevis in response to the daily price volatility.
- A Smart Liquidity Farming plugin would trustlessly reward the loyal and dedicated LPs during significant market fluctuations based on the historical LP behaviors.
- A data-driven plugins marketplace is built up and acts as a dynamic hub for DEX innovations.
Stay tuned as Brevis and Algebra embark on this transformative journey to shape the future of DeFi. If you are also interested in building with Brevis we will help you get started! Contact us and get connected with a builder now!
About Brevis
Brevis is a smart ZK coprocessor that empowers smart contracts to read the full historical on-chain data from any chain and run customizable computations in a completely trust-free way.
Brevis can trustlessly read the states, transactions, and receipts of any time frame. It efficiently runs computations on data of any size: as the data to prove increases in size, Brevis significantly reduces the per unit cost and time for proof generation. Additionally, Brevis seamlessly verifies Zero-Knowledge (ZK) proofs on any blockchain, providing a unified and trustless user experience for decentralized applications (dApps) operating across multiple chains.
Brevis empowers data-rich use cases including data-driven DeFi, user-segment optimized live-ops features, zkBridges, zkDID, and smart-contract native risk control, all executed in a trustless manner.
Dive Deeper into Brevis:
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About Algebra
Algebra is a Protocol enabling projects to integrate Concentrated Liquidity tech, alongside other groundbreaking features — Dynamic Fees, Built-in Farming, and more. Already seamlessly integrated into various DEXes across different chains, including Camelot, THENA, QuickSwap, StellaSwap, Zyberswap, Lynex, Magma, Swapsicle, Synthswap, eZKalibur, Glacier, and more, Algebra propels them to higher trading volume & enhanced capital efficiency. Learn more on our website: algebra.finance.
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