Phoenix is leveraging Stellar's new smart contract capabilities to create a secure and efficient DeFi Hub. Phoenix emphasizes strategic synergies within our hub, ensuring each DeFi product interacts with others to achieve a higher Total Value Locked (TVL) additive ratio over time. This focus on concentrated value accrual aims to unlock new development initiatives and evolve future protocols as each product scales.
The first live Phoenix protocol is a decentralized exchange (DEX), and an NFT marketplace is already under development. At the heart of it all, $PHO serves as the utility token for the Phoenix ecosystem, is used for DEX incentives, and is the exclusive token for the future NFT marketplace. Future protocols will also integrate $PHO as the core utility token.
Following the launch of the NFT marketplace, we will introduce more protocols. Our long-term vision is to create a one-stop shop for all things DeFi on Stellar. By building a suite of protocols and partnering with key projects in the Stellar ecosystem, Phoenix is excited to continue delivering great products to the Stellar ecosystem.
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