SMARDEX Launches ’Everything’ — Unified AMM, Permissionless Lending and Perps
SMARDEX has announced Everything, a unified DeFi protocol that combines AMM swaps, permissionless lending/borrowing and perpetual-style leveraged trading in a single smart contract and shared liquidity pool. Scheduled for a February launch, Everything builds on SMARDEX’s xy = k AMM and adds a novel, oracle-less leverage engine that executes atomic trades and a tick-based borrowing model intended to limit bad debt and improve capital efficiency. Borrowing will be available against any trading pair on the platform. Liquidity providers gain an extra yield stream via $USDNr, a decentralized synthetic stable asset targeting approximately 16% APR. A planned Geneve upgrade in summer will add yield-bearing collateral and native limit/take-profit order liquidity so idle orders can earn yield. SMARDEX — launched December 2024 and known for its low fees, AI-driven SMARTDEX features and the $USDN synthetic dollar — aims to reduce DeFi fragmentation, speed project launches and offer capital-efficient infrastructure for traders, market makers and builders. The announcement arrives amid strong DeFi growth in 2025 (Q3 TVL ~ $237bn). Traders should note the potential for increased on-chain leverage and concentrated liquidity — which can improve execution and reduce slippage — alongside operational risks including smart-contract, liquidity and adoption risk that could affect short-term volatility.
Bullish
The launch of Everything is likely bullish for SMARDEX’s token ecosystem because it consolidates multiple revenue and utility streams—swaps, permissionless lending and perpetual-style leveraged trading—into one pool. That integration can attract traders, LPs and market makers by improving capital efficiency, reducing fragmentation and offering higher LP yields via $USDNr. Short-term effects: increased on-chain trading and liquidity provision may spike volume and volatility around launch and the Geneve upgrade, benefitting token demand. Mid-to-long-term effects: if adoption grows, protocol fees, synthetic stablecoin usage and TVL could rise, supporting token fundamentals. However, risks remain — smart-contract bugs, oracle-free leverage edge cases, liquidity shocks and market adoption could cause drawdowns. Overall, the features and yield incentives point to net positive catalyst potential for SMARDEX-native tokens, assuming technical execution and security are solid.