(PRESS RELEASE – Los Angeles, CA, February 28, 2023)
We are thrilled to partner with Hyperspace, the cutting-edge Solana NFT marketplace, to integrate MegaSwap, the intelligent cross-chain service for web3. The MegaSwap integration will provide faster onboarding and easier access to cross-chain liquidity for Ethereum and Solana NFT users.
This collaboration gives merchants and creators on Hyperspace an unprecedented opportunity to instantly exchange assets between Ethereum, Solana and soon many other blockchains.
With a focus on increasing liquidity across multiple ecosystems, Hyperspace has established itself as one of the leading NFT platforms on Solana by aggregating 17 different marketplaces. As a new on-ramp to liquidity, MegaSwap offers Solana NFT creators on Hyperspace an additional avenue of revenue and reach. For users, this means easy integration into Solana NFTs by exchanging their Ethereum without having to log in or manage wrapped tokens.
Additionally, MegaSwap offers a safe and secure alternative to the traditional centralized exchange model. Instead of letting users store their coins on an exchange, users can place them in their own self-custody wallets and transact on MegaSwap, avoiding the risk of collapse as we have seen with FTX, BlockFi, Celsius or Voyager. With MegaSwap, you never have to provide sensitive personal information.
Hyperspace is the first app to take advantage of MegaSwap’s permissionless affiliate program. Web3 applications like Hyperspace, which integrate MegaSwap into their front end, will benefit from an innovative new revenue sharing program. With a single line of code, apps can earn a percentage of all cross-chain exchanges and attract new users to their growing ecosystems.
DeSo Founder Nader Al-Naji explains, “MegaSwap will soon make web3 applications chain-independent of any ecosystem with a single line of code paving the way for interoperability and composability between different crypto applications. By installing MegaSwap, teams can easily onboard new users and instantly bring liquidity to their applications, solving a major problem for every blockchain developer today. Users will soon have unprecedented access to funds from any ecosystem without having to give up custody of their coins.
Although Hyperspace is the first official MegaSwap partnership, it won’t be the last – several other teams have already attempted to integrate MegaSwap into their applications. DeSo is committed to building a social layer for web3 and will be looking to add support for other blockchains like NEAR, Cardano, Dogecoin, and more!
The launch of MegaSwap is 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 Openfund 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.
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.
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