In a Twitter post by Liquid Network, “Bitmatrix has landed on mainnet. Perform trustless atomic swaps via covenant-based liquidity pools on #Bitcoin’s financial layer.”
The automated market maker (AMM) protocol, Bitmatrix, has announced launching its mainnet beta on the Liquid Network. Bitmatrix states the mainnet beta will allow Bitcoin users to create their liquidity pool and conduct trustless atomic swaps on the Liquid network.
Liquid made this known in a tweet, saying,
“Bitmatrix has landed on mainnet. Perform trustless atomic swaps via covenant-based liquidity pools on #Bitcoin’s financial layer.”
Bitmatrix also announced in a tweet,
“Public mainnet beta is now live at beta.bitmatrix.app!”
Hence, users interested in creating their own liquidity pool only need to connect to the Bitmatrix web interface to their Marina Wallet.
Bitmatrix, as an AMM, allows users to perform asset swaps and connect and pool their liquid assets without any central authorities or intermediaries.
A statement by Bitmatrix says,
“With the release of Bitmatrix’s mainnet beta, we’re confident we have finally found the most optimal design in terms of contract security and byte savings.”
Burak Keceli, the founder of Bitmatrix, also added that the company hopes to introduce new worthy use cases to drive increased user adoption.
One of the new features of the mainnet beta is contract efficiency. This feature comes with a 6.75% reduction in vByte consumption. This means cheaper transaction fees for its users.
The mainnet beta liquidity pools will be able to accommodate any asset pair like USDt<>L-CAD. Its deployment of liquidity pools with custom LP strategies will enable liquidity providers to create pools using a spectrum of fee tiers.
Finally, with the launch of the mainnet beta, concurrency has been bumped down from 8 to 32 slots. This means that a liquidity pool can now handle 32 trades per minute. Bitmatrix still intends to scale its concurrency further.
Lastly, Keceli added,
“Moving forward, we're looking forward to hearing your feedback and rolling out a more optimized version with new smart contracting language Simplicity in Q4 2023.”
