Deepwaters: Cross-chain DEX w/ distributed store-of-value token

Name of Project


Proposal overview

Deepwaters is a market-responsive Automated Market Maker (MRAMM) based Decentralized Exchange (DEX). It seeks to solve a number of challenges that have been presented to the industry by the latest evolution of AMM based DEXs called Concentrated Liquidity Provision (CLP). These challenges not only harm the experience of traders, but also limit the participation of the traditional liquidity providers in CLP, restricting the potential of its capital efficiency.

In a closed system, risk, including that of existing fractionality, can neither be created nor destroyed. Deepwaters uses risk transference within its tranched systems to balance superior swap market prices with market-leading levels of dynamic capital efficiency. Deepwaters addresses the distorted risk compensation problem which has plagued decentralized finance (DeFi), since the introduction of AMMs and liquidity provision (Uniswap).

Complimenting this DeFi ecosystem will be a pair of tokens:

  1. A system-wide governing token.
  2. A fully collateralized distributed store of value token which will feed liquidity into the platform.

Proposal ask


Metrics for success

  • Initial launch of the two tokens
  • Launch of the lending component of the platform
  • Launch of asset management functionality
  • Launch of the swap functionality
  • TVL milestones: $100M, $250M, $1B, $5B
  • Daily volume milestones: $10M, $25M, $100M, $500M

External links


The whitepaper is not public and has been provided to the Harmony team privately.


Literally no one is more excited about this project than me!


Based on Harmony Project X program (d13: aaron-jack), approved for $250K investment


@cdylanpeters : I see your bet and raise you


As discussed, we are very excited about this project. The funding will be provided via Project X d8: aaron-jack

Thank you, Harmony! We are grateful.

Hello Harmony community! It was requested that we keep you up to date on our progress, so here we go:

April Goal

  • Complete design of cross-chain governance

Completed March Milestones

  • Completed and tested cross-chain minting of Deepwaters token(s)
  • Added key personnel to Deepwaters team: Director of Marketing and Product Manager (2 different hires)
  • Released newly designed website

We’re actively recruiting for a Senior Go Developer. Lots of bonus points for Tendermint experience. If anyone would like to apply or knows anyone suitable, you can check out the job at