• Stackswap raises $1.3 million through an investment round
• It will be the world’s first complete DEX and Launchpad on the Network.
• This will provide Bitcoin liquidity for the DeFi Market.

Stackswap will be the world’s first complete DEX and Launchpad on the Bitcoin Network. Stackswap has announced that it had successfully completed a private round. The brand received $1.3 million from the initial round.

The round was led in part by Stacks Foundation. Other prominent investors also participated in the investment round. This includes Genesis Block Ventures (GBV), HashKeys and SOSV. This group of early investors shares a long-term vision for Stackswap becoming the most popular DEX in Bitcoin.

More so, the platform is powered by Stacks’ PoX mechanism. This triggers every Bitcoin transaction. Stackswap, which will be running on Bitcoin Network’s Bitcoin Network from this month, is a highlight. Stacksmainnet, which acts as a layer-2 on top the Bitcoin Network, will also be available. It will actually bring smart contract functionality to the network. Stackswap said,

We are delighted that Stackswap can engage with a larger audience through our investment in our trading platform. We have a very competent global team of professional developers who have researched and have had extensive experience with the DeFi and related systems for a long time.”

Meanwhile, Stacks is built to make use of Bitcoin’s secure and decentralized nature. It keeps track of all transactions within Bitcoin networks using its PoX consensus system. Stackswap is the Bitcoin layer’s first permissionless DEX, thanks to its Stacks protocol advantages.

Decentralized finance (DeFi), its impact

It is a great news story for Bitcoin Network users. The Defi market is booming within major blockchains such as. Bitcoin is still exploring the DeFi market. Bitcoin is now used as collateral indirectly in the form wrapped tokens.

With Stackswap, Bitcoin liquidity in relation to DeFi signals will be a bigger role. Presently, Bitcoin’s market cap has hit $1.2 trillion. Stackswap, which is gaining huge attention from DeFi institutions worldwide and its users all over the globe, has received a great deal of support. This is to be expected, as the platform will provide the biggest Bitcoin liquidity available in the DeFi markets.

Stackswap Launches Next-Generation DEX Protocol

Stackswap was the first DEX ever to be run on the Stacks protocol. It aims at simultaneously expanding the Stackswap as well as Bitcoin ecosystems. Stackswap is also an initial member of the Stacks Accelerator and acts as a hub to help Stacks expand their Stacks ecosystem.

Stackswap also supports the traditional DEX functions like liquidity mining, trading tokens via Swaps and other tradeable tokens. It also offers advanced features such as creating trading pools through liquidity provision, token compensation programs via PoXL mining and token issuance via Launchpad.

With these features in place, you can start to make profits with Bitcoin. You can deposit Stacks and stake Stacks. It is possible by using a unique, Bitcoin-based reward payments system.

Stacks Protocol has received $93 Million in investment. These investments were made by prominent institutional investors such as Winklevoss Capital, Coinbase Ventures (NASDAQ:) Ventures. Stacks Protocol adds smart contract functionality to Bitcoin. In fact, it holds the title as the first token sale to get a green light from the United States’ SEC.

Let’s take a moment to focus on the Stackswap platform’s Launchpad feature. The relationship between the Stackswap platform’s growth and that of the Stacks eco-system is evident in this example. The Launchpad will be used by development teams to issue tokens and liquidate pools. It also allows them to execute PoXL mining.

Stackswap is a platform that makes it simple for anyone to set up their own projects.

Learn about the PoX Consensus mechanism

Now, let’s take a closer look at the platform’s consensus mechanism. Stacks has the benefit of increased security and stability for transactions on Bitcoin Network through the Proof-of-Transfer PoX consensus method.

PoX as a consensus algorithm involves two different blockchains. First, there is Bitcoin (an established blockchain), while the second one is Stacks (a secure new blockchain). PoX is a PoW that connects to Bitcoin at a 1:1 ratio. All transactions in the Stacks blockchain can be verified using the Bitcoin blockchain. However, instead of burning energy with Proof-of-Work (PoW), PoX reuses existing bitcoins as ‘Proof-of-Computation’.

Stacks Accelerator will automatically evaluate all projects initiated via the Stackswap Launchpad. Promising projects will then be evaluated by partner VCs like Stacks Accelerator to determine whether they are eligible for funding and support from the accelerator. This could lead to a lot of synergy with Stacks Accelerator. This will result in notable Bitcoin Maximalists with the same Bitcoin DeFi vision seeing this happening.

PoXL mining is the last and most important feature of the Stacks protocol. You can also get it through Stackswap. MiamiCoin has already entered into a partnership. PoXL mining is a crucial tool in both the Stacks ecosystem’s growth and the future generation of DeFi assets.

Lastly, Stackswap aims at offering a variety of financial services. They will offer AMM-based Swapping as well as liquidity Mining. It will explore additional functions such as PoXL mining and the Token Launchpad. Stackswap wants to support entrepreneurs in the early stages of their business to bring long-lasting value to the ecosystem.

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