XSWAP Built on ABEYCHAIN Opens to Public This Week -Breaking
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XSWAP on ABEYCHAIN opens to the public this week- XSWAP, which has been a success with limited release will now be open to all.
- XSWAP, which was launched in August with a closed beta testing success, was first released.
- It will be ABEY Foundation’s first of many dApps made for its community.
- Two nominations for ABEY – Blockchain Solution of the year and DeFi Project of the Year.
Following the previous campaign on XSWAP’s limited release testing, XSWAP will soon be available to the public. XSWAP, a completely decentralized cryptocurrency exchange built on ABEYCHAIN, is worth noting.
XSWAP, in detail, was released on August. It’s been through limited releases since it was launched in August. Its beta test was very successful — making XSWAP one of the many DeFi decentralized applications (dApps) that the ABEY Foundation aims to deliver for the ABEY community. What’s more, the XSWAP DEX (decentralized exchange) protocol is also built on the same network — ABEYCHAIN.
ABEYCHAIN, on the other hand, is one of the world’s fastest-growing blockchain projects today. According to reports, ABEY is adding an average of 20k active ABEY addresses per week since August last year, which in turn means that there are more than 138,000 people using the platform.
Furthermore, these users allow developers to use smart contracts to create decentralized apps (dApps), which are quicker and cheaper to run on ABEY than other networks.
In fact, the significant evolution and momentum of ABEYCHAIN made it Ethereum’s rival — especially with its low-cost and high-efficiency. With this, XSWAP’s new token economic model aims to provide users with a more reliable trading protocol.
XSWAP officially opened its doors to the public on Friday, November 6th, 2021. It offers trading, liquidity mining, and staking. XSWAP is operated and managed by its global community — meaning, XSWAP provides a wealth of crypto assets application channels like trading, liquidity, mining, and staking, all with the use of high-level compatibility between major blockchain ecosystems.
XSWAP users were ready to utilize the exchange immediately. Within 24 hours, XSWAP attracted more than US$11,000,000 in Total Value. (TVL).
XSWAP, according to the team, will address several problems other exchanges face by developing a brand new trading system. This model will use an automated liquidity protocol and an ‘automated market maker’ system — which is neither operated nor controlled by a central intermediary. If you think about it, it’s completely different from traditional, centralized exchanges.
Finally, the official governance token of XSWAP is XT — one of the most innovative features of the protocol. According to the team, 1.2 billion XT tokens are being distributed through liquidity mining. More so, XT will give holders the right to propose or vote on new developments and changes in the protocol, through XSWAP’s decentralized governance mechanism. In detail, this includes modifications to which newly minted tokens are distributed to the community, as well as the changes to the protocol’s fee structures. XT Airdrops are expected to be made available in the near future.
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