Los Angeles, USA, February 7, 2023, Chainwire
DeSo is delighted to announce the launch of MegaSwap – a revolutionary cross-chain smart service that allows users to easily and securely exchange coins between different blockchains with a frictionless zero connection. MegaSwap solves various critical issues including the onboarding of new users and the liquidity of any Web3 application in any blockchain ecosystem.
In its limited version, the platform has already seen over $5 million in volume, demonstrating its potential to revolutionize the crypto market with cross-chain swaps.
MegaSwap offers an alternative and more secure solution to the traditional centralized exchange model where users never have to log in or provide sensitive personal information. Instead of storing their coins on a centralized exchange, users can store them in their own self-custody wallets to mitigate the risk of unforeseen meltdowns, such as those seen with FTX, BlockFi, Celsius, or Voyager.
MegaSwap is a simple and innovative solution for developers looking to build web3 applications on different blockchains. Developers can install its frictionless zero-login API with a single line of code, making their applications chain-agnostic and accessible from any blockchain. For the first time, applications on Ethereum can easily co-operate with applications on Solana or DeSo. MegaSwap thus facilitates the integration of liquidity and new users into any blockchain ecosystem.
“One of the biggest use cases that we think will have the biggest impact is onboarding new users who don’t own your coin. That all changes with MegaSwap, where developers can take advantage of crypto exchanges -crypto between two coins, regardless of the blockchain ecosystem they are in. This last use case is a great coin because it solves the biggest problem for every blockchain developer today: getting new users without having them buy your coin on an exchange.” – DeSo founder Nader Al-Naji explains.
The blockchain ecosystem is currently fragmented, which makes it difficult for users to try different Web3 applications. With MegaSwap, users can easily and securely switch between Ethereum, Solana, Bitcoin, DeSo, and USDC, with support coming soon for other blockchains like NEAR, ADA, Doge, and more! This makes it easier than ever to transfer funds between blockchains, allowing communities to seamlessly navigate between apps.
DeSo is committed to building a social layer for Web3 that allows communities to seamlessly switch between different blockchains. The launch of MegaSwap demonstrates this commitment and removes a major barrier preventing mass adoption of cryptocurrencies.
This is yet another example in a recent string of successes for DeSo. Recently, they launched a groundbreaking fundraising platform called Openfund that allows entrepreneurs to launch coin-traded fundraisers through the world’s fastest order book exchange.
With the combination of Open fund and MegaSwap, founders and builders can easily fund projects, acquire new users, and expand their reach with a full suite of powerful tools in the DeSo ecosystem.
They also recently partnered with Princeton University to launch the first of its kind web3 startup contest and have a slew of upcoming releases that will position DeSo as the go-to layer 1 blockchain for building decentralized social media applications.
Moreover, the Social media hard fork just went live, allowing for decentralized checks. They plan to move to proof-of-stake later this year, improving performance and energy efficiency.
DeSo is a new layer 1 blockchain designed from the ground up to decentralize social media and scale storage-intensive applications to billions of users. It has raised $200 million and is backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winklevoss Capital, Pantera, and other top funds.
Discover all roadmap and claim your username on deso.com.