This week focused on turning on the economic layer (pDEX) and locking in fee rails + distribution now that privacy foundations are in place. The priority was to ship a working AMM, define token plumbing (pTokens), and finalize how fees flow to LPs, Treasury, and custodians.
Progress This Week
A) pDEX Economic Layer Live (AMM Pallet Integrated)
- pDEX Pallet Live
pDEX is now deployed as an on-chain AMM with core functionality enabled.
pDEX Pallet
| Feature | Status | Description |
|---|---|---|
| AMM Pools | Complete |
Constant product (x*y=k) formula |
| Swaps | Complete |
Token swaps with slippage protection |
| Liquidity Provision | Complete |
Add/remove liquidity with LP tokens |
| Fee Collection | Complete |
0.25% swap fee |
| Fee Distribution | Complete |
90% to LP providers, 10% to Treasury |
| Internal Token Registry | Complete |
Replaces pallet-assets dependency |
- AMM Pools (x*y=k) + Swaps + Slippage Protection
- AMM pools use constant product mechanics (x*y=k)
- Swaps are enabled with slippage protection
-
Liquidity Provision (Add/Remove + LP Tokens)
LPs can add/remove liquidity and receive LP tokens. -
Internal Token Registry (No pallet-assets dependency)
pDEX now uses an internal token registry instead of relying on pallet-assets.
B) Swap Fees + Fee Distribution (pDEX)
- Swap Fee Collection Enabled
- 0.25% swap fee implemented.
- Fee Distribution Rules Locked
- 90% → LP providers
- 10% → Treasury
- Runtime Params Updated for Fees
- Runtime config explicitly sets SwapFee = 0.25% and TreasuryFeeShare = 10%.
C) Token Plumbing for pDEX (TokenId Registry)
To support swaps/pools and bridge-minted pTokens, the token IDs are standardized:
Token ID Registry:
| TokenId | Token | Description |
|---|---|---|
| 0 | pCHML | Native privacy token |
| 1 | pBTC | Bridged Bitcoin |
| 2 | pETH | Bridged Ethereum |
| 3 | pUSDT | Bridged Tether |
D) Bridge Fees + Distribution (Shield / Unshield)
- Bridge Fee Structure Implemented
- Shield: 0.02% OR 0.1 CHML minimum
- Unshield: 0.05% OR 0.25 CHML minimum
- Bridge Fee Split Finalized
- 30% → Treasury
- 70% → Custodians
Next Steps
pCHML Privacy Token Integration (Making pCHML the “native” CHML)
We’re moving toward a model where all CHML on Chameleon Network effectively exists as privacy-wrapped pCHML — so the network becomes privacy-first by default.
What this means (in progress / next):
- Staking: stake / unstake / claim rewards will run in pCHML (via pDEX plumbing)
- Emissions: validator + LP rewards will be minted in pCHML
- Bridge: continues minting pTokens (pBTC / pETH / pUSDT) alongside pCHML flows