MonoX is a multi-layer, multi-chain DEX that solves the capital inefficiencies created by liquidity pairs, using a single token pool model. We use single-sided liquidity by creating a virtual pair with vCASH index tokens. This new protocol design results in lower trading fees, lower capital requirements to deposit for Liquidity Providers, less siloed capital, etc. Projects can also launch their tokens with zero capital required. It also creates opportunities for additional DeFi products/services such as lending and derivatives markets, as well as offering the most capital-efficient way to trade ‘Value Backed Tokens’ - VBTs, such as NFT shards, synthetics, gaming tokens, and insurance tokens.