Research Summary

The research report does a deep dive on the Crescent Network, a Cosmos appchain, is a public infrastructure that aims to maximize capital efficiency with a hybrid Automated Market Maker (AMM) / order book approach. The network does not charge any trading fees to its users, instead incentivizing Liquidity Providers (LPs) and market makers with CRE token emissions. In 2023, Crescent DEX facilitated over $120 million in total volume while averaging 2,700 active users per month. The network’s unique features include a hybrid DEX, market makers, and liquid offerings. Crescent Network’s roadmap for 2023 emphasizes five key areas: user experience, user interface, horizontal expansion, token economy, and security, while also introducing new products under the Crescent brand.

Actionable Insights

  • Crescent Network’s hybrid DEX: Combines an order book approach with an AMM model, catering to less sophisticated users who want to make markets and more sophisticated market makers who can use their traditional strategies by providing order book liquidity without depositing into an AMM.
  • Market Makers: Any address can apply to be a market maker for selected market pairs in the Crescent Network. These market makers receive CRE incentives for providing liquidity.
  • Liquid Offerings: Crescent Network offers users access to liquid staking, liquid farming, and liquid governance. Each of these features leverages the power of composability to optimize the user experience and efficiency of the protocol.
  • 2023 Roadmap: Crescent Network’s roadmap for 2023 emphasizes user experience, user interface, horizontal expansion, token economy, and security. It also plans to introduce new products such as Crescent FLIP and the Crescent Bootstrap Module.

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