Fair Launch Capital – a community giving grants to fair launches – has announced its very first project, Marqet – a platform that enables trustless margin trading of any synthetic asset with no slippage.
Together with our sponsors and advisors, we’re delighted to support @Marqet_Exchange as the first fair launch capital projecthttps://t.co/ufgL2xeZeD
— fair launch capital (@fairlaunchcap) September 16, 2020
The project is the first of what may be many community-oriented projects backed by Fair Launch Capital, who provide resources to fair-launch projects with no pre-sale or pre-mine.
What is Marqet?
Marqet is headed by Emiliano Bonassi and Simone Conti, two long-standing crypto community members who both share experience in VP roles at Eidoo and together founding a DeFi community group in Italy.
The project aims to solve the issue of liquidity and slippage seen in decentralized margin trading platforms, by leveraging Aave’s credit delegation and Synthetix’s peer to peer contract exchange.
Marqet plans to achieve this by incentivizing AAVE depositors to delegate their credit to Marqet – thus providing more liquidity for funding margin positions – while the Synthetix integration will enable traders to always trade at spot price with no slippage.
As per Fair Launch Capital’s requirements for funding, Marqet will be owned and governed by the community, rather than dominated by early-stage stakeholders.
In the future, Marqet also plans to migrate its protocol (along with Synthetix) to a layer-2 solution to reduce gas fees.
About Fair Launch Capital
Fair Launch Capital is a funding project which provides no-strings-attached capital to fair-launch projects.
They have a wealth of experience behind their team and founders, including Reuben Bramanathan (former Product Counsel and Head of Asset Management at Coinbase), Gavin McDermott (founding engineer of BitGo) and Joe Gerber (designer at IDEO).
Fair Launch Capital will leverage a community-funded credit delegation vault, providing a line of credit to Marqet over the period of their launch.
The incubation of Marqet comes as a strong signal in the wake of flash farms, giving uses confidence that Marqet is not like other moonshot farms. Instead, Marqet and it’s founders will work closely with industry-leading advisors to help shape and reform their economic design with equitable distribution in mind.
To stay up with Marqet, follow them on Twitter.
