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.