Coinbase-Backed DeSo Unveils MegaSwap, a “Stripe for Crypto” product, with Over $5 Million in Volume

Los Angeles, United States, February 7, 2023, Chainwire

Deso We are pleased to announce the launch of mega swap An innovative cross-chain smart service that allows users to securely and easily exchange coins between different blockchains with frictionless zero-login. MegaSwap solves various critical pain points such as onboarding new users and liquidity to his web3 application across the blockchain ecosystem.

In its limited release, the platform has already recorded over $5 million in trading volume, demonstrating its potential to revolutionize the cryptocurrency market with cross-chain swaps.

MegaSwap offers a more secure alternative to traditional centralized exchange models that does not require users to log in or provide sensitive personal information. Instead of storing coins on a centralized exchange, users can keep their coins in their own self-custody wallets and avoid the risk of unexpected meltdowns like those seen on FTX, BlockFi, Celsius or Voyager. can be reduced.

mega swap A simple and innovative solution for developers looking to build web3 applications on various blockchains. Developers can install a frictionless, zero-login API with a single line of code, allowing apps to be chain-agnostic and accessible from any blockchain. For the first time, apps on Ethereum can be easily configured with apps on Solana or DeSo. Therefore, MegaSwap will allow liquidity and new users to easily join the blockchain ecosystem.

One of the biggest use cases that we think will have the biggest impact is onboarding new users who dont own a coin. You can use crypto-to-crypto swaps between: acquire new users without having them buy your coins on exchanges. DeSo founder Nader Al-Naji explains:

The blockchain ecosystem is currently fragmented and difficult for users who want to try different web3 apps. MegaSwap allows users to easily and securely swap between Ethereum, Solana, Bitcoin, DeSo, and USDC, with support for other blockchains such as NEAR, ADA, and Doge coming soon! It’s easier than ever to move funds with , allowing communities to move seamlessly from app to app.

Deso is working on creating a social layer for Web3 that will allow communities to seamlessly transition between different blockchains. The launch of MegaSwap is a testament to this commitment and removes a major hurdle that prevents mass adoption of cryptocurrencies.

This is another example of DeSo’s recent string of successes. Recently, they launched a groundbreaking fundraising platform called Openfund. It allows entrepreneurs to initiate tradable coin-backed funding rounds via the world’s fastest orderbook exchange.

in combination with open fund and MegaSwap, founders and builders can easily fund projects, acquire new users, and expand their reach using the DeSo ecosystem’s comprehensive suite of powerful tools. increase.

It also recently launched the first of its kind in partnership with Princeton University. web3 startup competition And there are a number of upcoming releases that position DeSo as the go-to layer 1 blockchain for building decentralized social media applications.

moreover, Social network hard fork It just went live and enabled distributed verification. They plan to move to Proof of Stake later this year to improve performance and energy efficiency.

About Deso

DeSo is a new Layer 1 blockchain built from the ground up to decentralize social media and scale storage-hungry 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 blue chip funds.

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contact

Ash Ghaemi, DeSo Foundation,[emailprotected]