Next-gen Decentralized Exchange on NEAR.
Surge is the most scalable and capital efficient decentralized exchange (DEX) on NEAR. Inspired by the design of Curve and Solidly, we’ll be introducing the vote-escrow and liquidity-directing veSurge tokens from day 1. To summarize the architecture: - Surge holders can vote-lock their tokens for veSurge to direct pool emissions - 100% of trading fees will be distributed to veSurge voters who vote to incentivize that pool - veSurge holders always own the same % of supply and can never be diluted We believe this model aligns incentives across the multiple user segments. Instead of incentivizing TVL growth, the free-market determines the most valuable pools. This means liquidity providers consistently generate attractive rewards, traders operate in a low price impact environment on the most frequently traded pairs, and protocols can vote-lock Surge to sustainably direct liquidity (forever). This incentive model is significantly more capital efficient than existing DEX designs because the market self-regulates. Deep pools with limited trading volume will attract less veSurge votes, whereas shallow pools with high trading volume will attract more veSurge votes. Over time, the market will converge towards the optimal volume traded / TVL equilibrium.