As a user of the friendly market AMM, you may have noticed the lack of liquidity available on the exchange resulting in you having an unpleasant experience, either by getting bad prices due to high slippage or simply by being unable to execute large trades.

This is exactly why we have added the RFQ (Request-For-Quote) feature to our DEX. This works differently than the current AMM mechanism by giving liquidity providers the freedom to provide quotes off-chain. This is beneficial for both LPs and traders as it allows LPs to control the price levels they want to trade in and gives users better prices, zero slippage and more liquidity to trade.

As a trader, your experience on friendly.market/swap will mostly remain the same. You will see a checkbox indicating that prices are being fetched from both the AMM and the RFQ systems. By using the RFQ + AMM combination, you will get the best price possible. If the RFQ price is better than the AMM price, the RFQ price will be used. Otherwise, the AMM price will be used.

You can disable the checkbox to only trade using the AMM.

How It Works

The RFQ workflow starts by the trader (you) sending a request-for-quote for a given trade, this request gets sent to market makers which then respond with a quote. If the trader is satisfied with the price they received and clicks on “Swap”, the trade is executed. The trader will receive the exact amount they saw when submitting the trade. No slippage.

Here’s an example:

Say Alice wants to sell 1 ETH for USDC

1. Alice uses friendly.market/swap to select the tokens and enters 1 ETH
2. A request for quote is sent to all connected market makers
3. Market makers calculate pricing off-chain and respond with a quote and a deploy hash for an approve_digest transaction
4. The RFQ engine sorts all received quotes and selects the most profitable quote for Alice then presents it. Let’s assume that the best quote was 1 ETH = 2000 USDC.
5. Alice then sees that 1 ETH = 2000USDC and accepts the quote by clicking on “Swap”
6. The swap deploy is generated with the trade parameters and with the approve_digest deploy hash (from step 3) as a dependency deploy. The deploy is then sent to the market maker.
7. Market maker submits the deploy to the blockchain.
8. Transaction is processed and Alice gets 2000 USDC and the market maker gets 1 ETH.

Before and After

Let’s take a look at the difference in prices between the AMM and the RFQ.

In this first image we’re trying to swap 20K USDC for CSPR. We get 381.5K CSPR, worth around $14.5K. This is a significant price impact.

Now let’s take a look at the same trade with the RFQ enabled.

We get 512K CSPR worth around $19.65K. 34% better than the AMM price. A huge improvement.

Currently the RFQ is limited to $20K per trade. More liquidity is planned to be deployed in the future.

About Friendly Market

Your gateway to decentralized finance on the Casper network giving you access to multiple products and one ecosystem.

Website: https://www.friendly.market/

Twitter: https://twitter.com/friendlymarkets

Telegram announcements: https://t.me/friendlymarketann

Telegram public group: https://t.me/friendlymarketofficial

Medium: https://friendlymarket.medium.com/

Discord: https://discord.gg/mEHzX9vzHu

We are announcing that the airdrop eligibility window will end on July 22, 2022 at 23:59 UTC .

This means providing liquidity after July 22 does not make you eligible for the REI token airdrop.

We’d like to thank all liquidity providers who participated in the airdrop.

Allocation information, claiming instructions and REI tokenomics will be released soon.

Stay tuned for more information.

About Friendly Market

Your gateway to decentralized finance on the Casper network giving you access to multiple products and one ecosystem.

Website: https://www.friendly.market/

Twitter: https://twitter.com/friendlymarkets

Telegram announcements: https://t.me/friendlymarketann

Telegram public group: https://t.me/friendlymarketofficial

Medium: https://friendlymarket.medium.com/

Discord: https://discord.gg/mEHzX9vzHu

Friendly Market will be burning 100% of its shares of fees accrued from the DEX.

Fees, in the form of LP tokens, will be used to buy CSPR then burned.

Currently, a 0.3% fee is applied on every swap transaction. Of which, 0.25% go to liquidity providers while the remaining 0.05% goes to the Friendly Market treasury.

We are burning the full 0.05%. This means that 0.05% of every swap transaction on our DEX will be burnt. More volume equals more CSPR burned.

Burning CSPR will be done by sending the tokens to the DEAD account.

A page displaying total CSPR burned will be available soon.

CSPR burn will stop after REI launch. Instead, the 0.05% fees will be distributed evenly between superREI holders and the Friendly Market treasury.

About Friendly Market

Your gateway to decentralized finance on the Casper network giving you access to multiple products and one ecosystem.

Website: https://www.friendly.market/

Twitter: https://twitter.com/friendlymarkets

Telegram announcements: https://t.me/friendlymarketann

Telegram public group: https://t.me/friendlymarketofficial

Medium: https://friendlymarket.medium.com/

Discord: https://discord.gg/mEHzX9vzHu

With our DEX officially launching on Casper Network (https://www.friendly.market/swap), we would like to announce that Friendly Market is having an airdrop to reward liquidity providers.

Airdrop allocation will be calculated based on USD value supplied to liquidity pools and time spent supplying liquidity.

The airdrop tokens will be distributed in REI and eligibility window starts now.

The DotOracle bridge can be used to move your liquidity from other chains to the Casper Network.

Further details will be announced shortly.

About Friendly Market

Your gateway to decentralized finance on the Casper network giving you access to multiple products and one ecosystem.

Website: https://www.friendly.market/

Twitter: https://twitter.com/friendlymarkets

Telegram announcements: https://t.me/friendlymarketann

Telegram public group: https://t.me/friendlymarketofficial

Medium: https://friendlymarket.medium.com/

Discord: https://discord.gg/mEHzX9vzHu

We are excited to announce our partnership with DotOracle Network. This collaboration comes in an effort to help bridge DeFi on to the Casper Network.

DotOracle is a real-time decentralized Oracle and Cross-chain bridge supported by 8 chains. It is currently the first cross-chain bridge on Casper Network.

The partnership with Friendly Market is significant to DotOracle project. We will provide price feeds and liquidity bridge services to Friendly Market. Together we would expand the ecosystem of Casper Network in DeFi, NFTs and prediction markets on Casper — Nguyen Bui, CEO, DotOracle

To help secure the bridge, Friendly Market will run a validator node on the DotOracle network.

For more information about DotOracle, please visit dotoracle.network.

About Friendly Market

Your gateway to decentralized finance on the Casper network giving you access to multiple products and one ecosystem.

Website: https://www.friendly.market/

Twitter: https://twitter.com/friendlymarkets

Telegram announcements: https://t.me/friendlymarketann

Telegram public group: https://t.me/friendlymarketofficial

Medium: https://friendlymarket.medium.com/

Discord: https://discord.gg/mEHzX9vzHu

Casper Name Service (CNS) is a permissionless protocol that makes it possible for anyone to purchase a Casper-specific domain name. You can point your domain name to your public key, account hash or to a contract hash.

The CNS domain names will be minted as NFTs. This means that these domain names will be available on the Friendly Market NFT marketplace.

Why Use Domain Names

Domain names makes it possible to map complex, hard-to-read public keys, to simple, readable and efficient names. You will then be able to use domain names instead of public keys, account hashes on any Casper dApp that integrates CNS.

Integrations

CNS will be integrated across various applications in the Casper ecosystem. Thanks to these integrations, you will able to use your recipient’s CNS domain name instead of their public key. This makes it more convenient and easier to verify the correctness of your transaction information.

• Gosuto Wallet
• CSPR.live
• CasperLabs Signer
• CasperHolders

Pricing

The pricing for the domain names will vary depending on the length of the chosen name. More details will be provided soon.

superREI holders will get 50% of any fees accrued from the CNS, while the other 50% will go towards the Friendly Market treasury.

About Friendly Market

Your gateway to decentralized finance on the Casper network giving you access to multiple products and one ecosystem.

Website: https://www.friendly.market/

Twitter: https://twitter.com/friendlymarkets

Telegram announcements: https://t.me/friendlymarketann

Telegram public group: https://t.me/friendlymarketofficial

Medium: https://friendlymarket.medium.com/

Discord: https://discord.gg/mEHzX9vzHu

We are excited to announce our partnership with CasperHolders, the first third-party UI to interact with the Casper Blockchain.

CasperHolders aims to create an easy and beautiful interface to interact with the Casper Network and its whole ecosystem.

We’re happy to begin a new adventure with the Friendly Market team and we hope that you will like the integration into the CasperHolders website & mobile app soon !” — Killian, CEO, CasperHolders

Thanks to this partnership, users will be able to interact with the different Friendly Market products on CasperHolders wallets, including the AMM, NFT Marketplace and many more products yet to be announced.

For more information about CasperHolders, please visit casperholders.io

About Friendly Market

Your gateway to decentralized finance on the Casper network giving you access to multiple products and one ecosystem.

Website: https://www.friendly.market/

Twitter: https://twitter.com/friendlymarkets

Telegram announcements: https://t.me/friendlymarketann

Telegram public group: https://t.me/friendlymarketofficial

Medium: https://friendlymarket.medium.com/

Discord: https://discord.gg/mEHzX9vzHu

About CasperHolders

Website: https://casperholders.io/

Twitter: https://twitter.com/CasperHolders

Telegram announcements: https://t.me/CasperHoldersAnnouncements

Telegram public group: https://t.me/CasperHolders

Android app : https://play.google.com/store/apps/details?id=com.casperholders.wallet

iOS app : https://apps.apple.com/us/app/casper-holders/id1609981086

Github : https://github.com/casperholders

We are pleased to announce our new partnership with The Arcadia Media Group. Arcadia is a blockchain security and development firm that has been working in the space since 2017.

Arcadia is a partner of CasperLabs and is one of the very first builders on the Casper blockchain and have made plenty contributions to the Casper ecosystem including the Gosuto Wallet.

We’re excited to be working with Friendly.Market as security and channel partners, it’s exciting to see the many different avenues Friendly Market is innovating in, including AMMs, Launchpads, and Options Markets. We look forward to working with them in growing the Casper ecosystem 😄 — Rasikh Morani, CEO, The Arcadia Media Group

Arcadia are helping us to secure our code and to ensure we give our community the best possible products.

To learn more about The Arcadia Group, visit https://arcadia.agency/.

To stay updated about the latest Friendly Market news, please visit:

Website: https://www.friendly.market/

Twitter: https://twitter.com/friendlymarkets

Telegram announcements: https://t.me/friendlymarketann

Telegram public group: https://t.me/friendlymarketofficial

Medium: https://friendlymarket.medium.com/

Discord: https://discord.gg/mEHzX9vzHu

Any links not on this list that are claiming to be us are FAKE.

Friendly Market is an ecosystem offering access to Decentralized Finance (DeFi) products. For ease of use, these DeFi products are connected through one common token (REI) and a proven Blockchain (Casper).

The end result is a sound ecosystem that is easy to use, secure, and beginner-friendly. It also offers an incentive system whereby users get a proportion of the fees collected from the offered products.

It’s called ‘Friendly Market’ for a reason. Those who use the system get rewarded and the ecosystem is itself very simple, efficient, and convenient.

The Casper Blockchain

Friendly Market is built on top of the Casper Blockchain. This is the first proof-of-stake blockchain that is scalable, enterprise-optimized, and future proof. With predictable gas fees and a scalable infrastructure, the Casper blockchain is the perfect architecture to launch a marketplace offering DeFi products.

REI and superREI

REI is the official Friendly Market token and is what enables users to take a portion of platform fees.

In order to receive platform rewards, you need to hold the superREI token. superREI is a token obtained by staking your REI.

All fees collected from the platform will be periodically swapped to REI and distributed pro-rata to superREI holders.

Token economics will be announced at a later date.

The AMM

The Casper Blockchain does not have a working automated market maker (AMM). An AMM is vitally important to a sustainable DeFi system as it is essentially an algorithm that sets buying and selling prices for cryptocurrencies. The Friendly Market AMM is built using the constant product formula (x*y=k) to determine token prices.

A 0.3% fee will be collected on every trade executed on the AMM. 0.25% will go to liquidity providers while the rest will be split evenly between superREI holders and the Friendly Market treasury.

Naturally, yield farming will be available on the platform as well, giving liquidity providers the chance to earn more yield than the trading fees.

The NFT Marketplace

NFTs and an NFT marketplace are essential to every blockchain. In a world of fiat printing and currency devaluation, the importance of having units of exchange that are incorruptible is not to be underestimated.

The Friendly NFT marketplace is permission-less, meaning anyone will be able to create and sell their NFTs on the platform.

A 3% platform fee will be applied on every sale. The fees will be distributed equally between the holders of superREI and the Friendly Market treasury.

The Launchpad

The Friendly Market Launchpad is designed to connect new projects with both professional investors and the public. The blockchain industry is currently booming with new ideas and teeming with potential and we want to provide a platform for those projects to raise on the Casper blockchain.

The Launchpad is exclusive to superREI holders meaning that only superREI holders can invest in the projects hosted on the platform. To further reward the community, superREI holders will get a % on the fees collected from the Launchpad.

Predictions

Using the Friendly Market predictions platform, it’s possible to trade on the price of CSPR. CSPR is the token of the Casper Blockchain which powers Friendly Market. You can predict whether the price of CSPR will go up or down within a short timeframe.

To enter a prediction round, you need to pick a direction and choose an amount of CSPR to stake.

The users with the correct predictions get the funds staked by the users with the wrong predictions.

A 3% fee will be taken on each round’s winnings. The fees will be distributed equally between superREI holders and the Friendly Market treasury.

Options Trading

The Friendly Market Options platform allows you to trade options on a number of cryptocurrencies. Options trading allows you to make significant profits (provided the trade goes the right way).

An option contract basically allows you to buy or sell at a specific price at a future date. So if the price goes up and you lock in a lower purchase price, you will make the difference on the underlying asset.

Options trading is necessary for any thriving economic ecosystem and it is a necessary feature for the advancement of the DeFi ecosystem on Casper.

Why Friendly Market

Friendly Market ticks all the boxes when it comes to Decentralized Finance on Casper.

It is the only DeFi ecosystem built on the Casper Blockchain, which gives it a significant advantage.

The benefits of using Friendly Market include:

✅ Easy access to lucrative DeFi applications.

✅ Built on the first blockchain following the Casper CBC specification.

✅ AMM to buy/sell cryptocurrencies.

✅ NFT marketplace to buy/sell nfts.

✅ Launchpad for new projects.

✅ Options trading.

✅ Predictions platform.

✅ Fee sharing with superREI holders.

✅ Hyper-efficient.

It is a powerful ecosystem for Decentralized finance and the team is constantly innovating, upgrading, and adding new features — a one-stop-shop for DeFi on Casper.

We’ve been asked by the community to announce a launch date, and there’s nothing more we’d love to do but we don’t want to give you anything until we’re completely sure. All we can say at this moment is that launch is very soon.

To stay updated about the latest Friendly Market news, please visit:

Website: https://www.friendly.market/

Twitter: https://twitter.com/friendlymarkets

Telegram announcements: https://t.me/friendlymarketann

Telegram public group: https://t.me/friendlymarketofficial

Medium: https://friendlymarket.medium.com/

Discord: https://discord.gg/mEHzX9vzHu

Any links not on this list that are claiming to be us are FAKE.