DeSo is happy to announce the launch of MegaSwap – a revolutionary, cross-chain sensible service that permits customers to securely and simply swap cash between totally different blockchains with a frictionless zero-login. MegaSwap solves varied crucial ache factors, together with onboarding new customers and liquidity to any web3 software throughout any blockchain ecosystem.
In its restricted launch, the platform has already seen greater than $5 million in quantity, demonstrating its potential to revolutionize the crypto market with cross-chain swaps.
MegaSwap provides another and safer answer to the standard centralized trade mannequin the place customers don’t ever must log in or present delicate private info. As an alternative of storing their cash on a centralized trade, customers can retailer them in their very own self-custody wallets to mitigate the danger of unexpected meltdowns, akin to these seen with FTX, BlockFi, Celsius, or Voyager.
MegaSwap is a straightforward, revolutionary answer for builders looking for to construct web3 purposes on totally different blockchains. Builders can set up its frictionless zero-login API with a single line of code, making their apps chain-agnostic and accessible from any blockchain. For the primary time, apps on Ethereum can simply compose with apps on Solana or DeSo. MegaSwap thus makes it simpler for liquidity and new customers to be onboarded into any blockchain ecosystem.
“One of many greatest use circumstances we expect could have the best affect is onboarding new customers that don’t personal your coin. That every one modifications with MegaSwap, the place devs can leverage crypto-to-crypto swaps between any two cash it doesn’t matter what blockchain ecosystem they’re in. This final use case is a superb wedge as a result of it solves the largest ache level for each blockchain dev right this moment: getting new customers with out making them purchase your coin on an trade.” – Founding father of DeSo, Nader Al-Naji, explains.
The blockchain ecosystem is at the moment fragmented, making it onerous for customers who need to check out totally different web3 apps. With MegaSwap, customers can simply and securely swap between Ethereum, Solana, Bitcoin, DeSo, and USDC, with assist coming quickly for different blockchains like NEAR, ADA, Doge, and extra! This makes it simpler than ever to maneuver funds between blockchains permitting communities to seamlessly navigate from app to app.
DeSo is dedicated to making a Social Layer for Web3 that permits communities to seamlessly transition between totally different blockchains. The launch of MegaSwap is a testomony to this dedication and eliminates a serious hurdle stopping the mass adoption of cryptocurrencies.
That is one more instance in a current string of successes for DeSo. Lately, they launched a breakthrough fundraising platform referred to as Openfund that permits entrepreneurs to launch tradeable coin-backed fundraising rounds by way of the world’s quickest order guide trade.
With the mixture of Openfund and MegaSwap, founders and builders can simply fund initiatives, purchase new customers, and broaden their attain with a complete suite of highly effective instruments within the DeSo ecosystem.
In addition they not too long ago partnered with Princeton College to launch the first-of-its-kind web3 startup competitors and have a slew of upcoming releases that may place DeSo because the go-to layer-1 blockchain to construct decentralized social media purposes.
Moreover, the Social Community Laborious Fork simply went dwell, enabling decentralized verifications. They plan to maneuver to a proof of stake later this yr, bettering efficiency and vitality effectivity.
DeSo is a brand new layer-1 blockchain constructed from the bottom as much as decentralize social media and scale storage-heavy purposes to billions of customers. It raised $200 million and is backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winklevoss Capital, Pantera, and different blue chip funds.