Cell Protocol, a smart automated market maker (SAMM), has received awards from the perpetual futures order book decentralized exchange (DEX) Mango Markets and the decentralized finance (DeFi) derivatives platform Zeta Markets for a total of $80,000 in the recent Solana Riptide Hackathon.
About Cell Protocol
As the very first concentrated-liquidity bot platform built on central limit order book (CLOB) DEXs, Cell aims to democratize liquidity provision for regular users and brings deeper and more accurate liquidity for CLOB DEXs. The grid-trading strategy from Cell’s smart AMM can provide concentrated liquidity to improve capital efficiency substantially.
Cell Protocol started back in August 2021. CellFi version 1.0 has already launched on the Solana mainnet and is integrated with Mango Markets. It provides multiple strategies, including short, long and neutral, with leverages on the horizon. Currently, Cell Protocol is under alpha testing with $270,000 total value locked, a $2-million cumulative trading volume and more than 110 running bots. With a fast-expanding user community, the numbers are growing rapidly.
For stakeholders, Cell Protocol offers unique value propositions:
- Liquidity providers (LPs): Professional LPs can make directional bets while harvesting volatility, while passive LPs and DeFi users are welcome to copy-trade and add liquidity to enjoy incentives from strategies and farms.
- Crypto projects: Long-tail and meme assets can bootstrap and incentivize liquidity via Cell-boosted farms, while other DeFi protocols can build structured financial products on top of Cell Protocol or integrate LP tokens to unlock more liquidity.
- CLOB DEXs: By partnering with Cell Protocol, CLOBs enjoy lower slippage, deeper liquidity and are able to incentivize liquidity based on ranges to encourage capital to flow to where it is needed the most
Cell Protocol team
The team has a strong track record of building successful projects at Coinbase and in the Solana ecosystem. Currently, seven Web3 professionals are working full-time. The core members of Cell Protocol include @0xhipo, @0x5_7, @felixmxu and @ClaireTianyuS, and it is incubated by Penrose Tech, the contributors behind Arpa and Bella Protocol.
In the near future, CellFi will support more trading platforms and expand to other layer-1 and layer-2 networks, including StarkNet, and release additional features such as an innovative range-based incentivized farm.
Cell Protocol will start fundraising soon. The team has received strong interest in involvement from multiple strategic investors.