SAKE Partners with Boba Network
SAKE is pleased to announce a partnership with Boba Network and Enya. Boba Network aims to deliver a faster, cheaper, and more engaging experience to the next billion users of Ethereum. SakePerp, a transaction-driven decentralized perpetual contracts platform with a dynamic automated market maker mechanism that supports single asset collateralization for liquidity providers.
Through the partnership, SakePerp will be available on Boba Network upon its public mainnet launch. SakePerp is the first perpetual contract protocol to be announced on Boba, taking advantage of lightning fast transaction speeds and low costs of the network. Decentralized perpetuals and spot trading are amongst the most expensive of DeFi smart contracts. By launching on Boba, SAKE makes their protocol more accessible without sacrificing decentralization.
Both Boba Network and Sake communities are excited to work together to accomplish their common goals of attracting more users to the ever-evolving Ethereum ecosystem.
Boba is an Ethereum Virtual Machine (EVM) compatible Layer 2 Optimistic Rollup that helps Ethereum smart contracts scale while delivering a delightful user experience. Boba enables Ethereum developers to build dApps that trigger code running on web-scale infrastructure such as AWS Lambda, making it possible to leverage sophisticated algorithms that are either far too expensive, far too slow, or practically impossible to execute on-chain.
Founded by Stanford faculty and alumni, Enya pioneered decentralized privacy and became the largest provider of secure multiparty computation services, serving more than 10 million users across 91 countries. Enya creates decentralized infrastructure solutions that serve the next billion users, leading with Boba Network. Boba is an Ethereum Layer 2 solution that scales and augments Ethereum, helping developers deliver a more delightful and inclusive user experience. Enya is a core contributor to OMG Foundation.
SAKE is a transaction-driven decentralized perpetual contract and spot trading protocol. SakePerp.fi is the first on-chain perpetual contract platform with a dynamic AMM market maker mechanism that supports single asset collateralization for liquidity providers. Liquidity providers provide trading depth for both long and short traders and earn the value of the platform net position by managing positions. Liquidity providers also can make profits by funding fees and hedging. SakePerp.fi supports DeFi Arbitrage Mining and LP Market Making Mining. 50% of the transaction fees are used to buy-back SAKE tokens and keep them as insurance funds.