The new automated protocol, based on Ethereum and Polkadot, states that it uses two parachutes to search for interoperability and scalability of other layers.
KwikSwap allows users to exchange tokens, create new markets, and participate in growing crops by providing liquidity and participating in the effort.
The aim of the project is to give developers, liquidity providers, and traders the opportunity to participate in a decentralized financial market that is open and accessible to all.
KwikSwap is currently focused on developing and integrating the test network in the Plasm and Acala Network, with both Tier 2 measurement solutions described as “best in class” and serving as the conduit for the Polkadot ecosystem.
Plasm is a multi-functional and intelligent machine contracting center built on a parity substrate. It aims to make Web 3.0 fully scalable while providing better transaction efficiency.
Meanwhile, the benefits of the Acala network extend beyond the blockchain, as it functions as a decentralized financial center and platform for stacked coins. KwikSwap says that the DApp package will play a significant role in bringing a number of features planned to the market quickly.
KwikSwap says it will be the first DEX across the chain to deploy two-tier solutions on Polkadot, and fulfill the vision of being an efficient and standalone platform that cuts costs, saves more capacity and increases productivity dramatically.
According to the project’s founders, future features, once successfully deployed on Plasm and Acala, will include stack coins, liquidity rates, fixed and recurring payments, the ability to use native tokens for gas payments and instant token exchanges that can be achieved with ACA and KWIK … and aUSD, DOT and BTC.
In a recent press release, the team said: “KwikSwap is exploiting the huge potential of decentralized finance to bypass the traditional economy by allowing users to participate and receive rewards for their efforts. This provides maximum user experience and benefits such as eliminating third-party participation in payments and value transfers. ”
DEX conversion for the better
KwikSwap says that the decentralized protocol is designed to live up to its name, and the platform has bold ambitions to be the simplest, most practical, fastest and cheapest DEX in the world.
KwikSwap highlights the advantages of the infrastructure over the competition in this vibrant market, and claims that it provides an intuitive interface that makes navigating the platform easy. Meanwhile, the KWIK token has a shrink mechanism designed to reduce exposure over time.
Users will also enjoy seamless transfers between blockchain ecosystems, giving them the ability to exchange cryptocurrencies without having to go through a central exchange first. And although many of the major DeFi protocols were forked out and changed from similar platforms, KwikSwap was designed from the ground up – and the platform claims to offer more security and authenticity.
More information from KWIKSWAP here
The protocol recently unveiled Kwikstarter, an IDO launch pad designed to ensure everyone gets to the first floor with crypto projects that venture capital firms can quickly intercept. The platform will enable startups to raise funds through liquidity pools, providing an “unparalleled” experience in contacting projects full of potential. This workflow is set to be automated with management, which means KWIK token holders will take the lead when it comes to ensuring that only the best projects are accepted.
Startups can also receive support tailored to their circumstances. While practical support can be provided to companies at an early stage with the hope of building a global community, more advanced companies can benefit from social media marketing and strategy instead. Projects can also rely on Kwikstarter to only manage their fundraising if they wish.
As part of its drive to become a fully decentralized store, KwikSwap says it intends to launch the Polkapanda NFT Marketplace in a few weeks – all with the goal of catalyzing the inexpensive icon industry with a wide range of 3D rendering, audio and video products. Rich NFT galleries for collectors.