My name is SWFT, but you can call me DEX
We’re using our over 3 years of crypto swap experience to launch a new, best-execution DEX aggregator
SWFT Blockchain powered its first swap between two cryptocurrencies back in 2017… almost 3 years ago. Since then, millions of swaps worth hundreds of millions of dollars have been powered by the SWFT Blockchain cross-chain protocol — a testament to crypto-holders’ need for easy and affordable ways of exchanging value across chains. While cross-chain swaps remain an important tool in a crypto user’s tool-belt, the world of crypto has changed a lot since 2017, and so has the typical user’s tool-belt.
2020 saw the explosion of DeFi with record-breaking swap volume processed by AMM DEX’s like Uniswap or curve.fi. The wide variety of AMM DEX’s then led to market inefficiencies, which then led to the creation of tools that would solve these inefficiencies. Finally, this gave way to the popularisation of DEX aggregators like 1inch and paraswap, which allowed crypto users to get the best rates from swap pairs across different DEXs. If that sounds familiar to what SWFT Blockchain has been doing for the past three years, it’s because it is. We’ve been focusing on aggregating the best rates from centralised exchanges since 2017. Recently, we’ve been asking ourselves: why should DEXs be any different? Can we tweak our algorithm and adapt it to the DEX problem?
In 2021, one of our priorities is to combine our years of cryptocurrency swap experience, including hundreds of millions of dollars in swap volume, with the transparency and composability that decentralized finance brings to the table. Some people refer to DeFi as “money legos” and going by that philosophy, we are going to be working on another brick.
Our ‘brick’ will not only benefit from the composability it will have with the rest of the DeFi world, but it will also work in synergy with our existing cross-chain swaps to create a killer CeFi + DeFi combo with the best rates from centralized and decentralized exchanges in one place. It is not inconceivable to see this solution packaged into one API and integrated into some of our current partners and future partners.
With the help of SwftCoin
An important piece of the puzzle in order for the aggregator to achieve full decentralization, will be its governance. Our old friend, SwftCoin (SWFTC) will take on a new role as a governance token and thus allow its holders to propose and vote on improvements, changes and developments to the aggregator protocol. SWFTC holders will also earn a share of the swap fees generated by the aggregator.
While the SWFT Blockchain DEX aggregator does not yet have a release date, the team is already at work creating it and you can look forward to more updates in greater frequency. We are excited by this new direction as it feels like a natural step in our mission to make exchanging value across cryptocurrencies and blockchains as easy as possible for as many people as possible.
About SWFT Blockchain
Founded in 2017, SWFT Blockchain is a next-generation, worldwide cross-chain swap protocol and payment network. SWFT Blockchain’s technology combines blockchain, machine learning and big data to enable direct swaps between over 200 cryptocurrencies. Offering a fast, affordable, and secure experience, SWFT Blockchain’s transfer protocol allows users to swap cryptocurrencies at the best rates, in record speeds and with super low fees. SWFT Blockchain is currently the go-to protocol for cross-chain swaps between DeFi and CeFi currencies, stablecoins, and more. Soon, SWFT Blockchain will launch a decentralized exchange aggregator that will combine SWFT Blockchain’s swap experience with the advantages of decentralized and noncustodial swaps. SWFT Blockchain has received funding from top VCs, including Draper Dragon and was in the first cohort of startups at Berkeley Blockchain Xcelerator.