The Lynx Testnet, the second testnet iteration of the Catalyst Protocol, has achieved remarkable milestones, registering a staggering $200 billion in transaction volume and over 600,000 swaps across more than 200,000 unique wallets!
As we reflect on these significant achievements of Lynx, we are eagerly anticipating the launch of an even more advanced Testnet V3. This moment is not just about looking back at our progress but also gearing up for the ultimate phase of Catalyst before its mainnet debut.
We are in a phase of both celebration and anticipation!
The Catalyst community has been instrumental in generating substantial activity on the Lynx testnet, while our dedicated Cata Labs core team has been tirelessly developing the final testnet iteration before the mainnet launch. The forthcoming version of Catalyst promises to be a game-changer in the realm of cross-chain liquidity. But before we embark on this new journey, let's pause to appreciate our growth and make sure we are all set for the transition.
The Success of Lynx (ended in December 2023):
Unprecedented Volume: We witnessed an extraordinary total volume of $200,000,000,000 USD over 600,000 cross-chain swaps, surpassing our expectations and providing invaluable insights for stress-testing our protocol and user interface during peak traffic.
Expanding User Base: Our network welcomed over 200,000 users globally, engaging with the Catalyst UI and directly interacting with our contracts.
Impressive Liquidity: The testnet saw a deployment of $100 million USD in liquidity within Catalyst pools, underscoring the platform's vast potential to transform how assets and liquidity are effectively utilized across all chains!
These achievements have not only surpassed our internal goals but also demonstrated that Catalyst is a robust cross-chain mechanism with a strong market demand.
As we approach the launch of the Final Testnet, we extend our sincere thanks to each member of the Catalyst community. Your enthusiasm and participation have been pivotal in driving the testnet beyond our most optimistic projections. The success of Lynx is a testament to our collective effort, and we are grateful for your support as we venture into the next exciting phase of our journey.
About Cata Labs
Cata Labs is a software development company that contributes to open-source technology, including Catalyst Protocol. Cata Labs is backed by prominent investors such as Spartan Group, HashKey, Polygon and Circle. Check out our website here and read more here.
Catalyst Protocol is an AMM purpose-built to connect all chains. Its mission is to empower individuals to acquire any asset on any chain. Using Catalyst, any chain can swap assets with major blockchains like Cosmos, Ethereum and its rollups. Catalyst Protocol is operated by Catalyst Foundation, based in the Cayman Islands. Find out more about Catalyst Foundation at its website. Contact Catalyst Foundation here.