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BlockNews
Home CRYPTO

Oasis Awards illumineX with Grant Funding

BlockNews Team by BlockNews Team
September 28, 2023
in CRYPTO, FINANCE, INVESTING
Reading Time: 1 min read
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Oasis Network has given a grant to illumineX worth $45,200 to develop a DEX on Oasis Sapphire. As the primary DEX on Oasis Sapphire, illumineX enables fluid multichain swaps while mitigating Miner Extractable Value (MEV) exploits.

When users transact on illumineX, their tokens are directed to the Oasis Sapphire runtime, which converts them into ERC-20 tokens. The tokens are then merged with other privacy-focused token standards and sent to on-chain locations specified by the users. Furthermore, the illumineX team is working to enhance the privacy of the ERC-20 token standard by building a multi-signature system capable of disclosing transaction data if suspected hacks or exploits arise.

The grant will be distributed based on predefined milestones, and this collaboration between Oasis and illumineX signifies a pivotal stride toward augmenting privacy, security, and decentralization.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: illumineXOasis
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