Phoenix DeFi Hub, built on Soroban, launched its decentralized exchange with three liquidity pools and generated 60% of Soroban transactions on day one. The team discussed upcoming features including an NFT marketplace, bridges to other ecosystems, and mobile support via WalletConnect.
Phoenix DeFi Hub, a new DeFi platform built on Stellar's Soroban smart contracts, launched its decentralized exchange featuring three initial liquidity pools (XLM/USDC, XLM/FOE, FOE/USDC). On launch day, Phoenix generated over 60% of all Soroban transactions and helped break the network's daily transaction record. The team, comprising marketing director Griffin, co-founder and backend lead Jakub, and co-founder and frontend lead Milan, discussed their vision of creating a one-stop DeFi hub for all Stellar users. Key features include liquidity incentives with FOE token rewards and six-month vesting airdrops, integration with Kato for fiat on-ramping, and a user-friendly interface with guided tours. Upcoming developments include an NFT marketplace, bridges to other ecosystems via Pendulum and Axelar, mobile support through WalletConnect, and version two of the DEX with concentrated liquidity and order books. The team received support from the Stellar Community Fund through grants and a liquidity program.