The Multi-Chain XSWAP on ABEYCHAIN is Open to Users, 1 Billion XT Available For Liquidity Providers and Stakers
XSWAP, a decentralized exchange on ABEYCHAIN, is now available to users. According to the ABEY Foundation, this is after a successful limited release testing. This good news follows two prestigious nominations by AIBC Malta for ABEY — Blockchain Solution of the Year and DeFi Project of the Year.
XSWAP Rides on ABEYCHAIN Strengths
XSWAP launched in August, as a completely decentralized DEX on the high-throughput ABEYCHAIN.
XSWAP opened to the public on November 6, 2021, with trading, liquidity mining, and staking immediately available to users.
XSWAP users were immediately ready for the opportunity to use the new exchange. Within the first 24 hours of availability, XSWAP had attracted over US$11 million in Total Value Locked-in (TVL).
The swapping protocol introduces an innovative market maker model and a new liquidity pool to solve problems encountered by centralized competitors.
Set to prime the growing ABEY ecosystem, XSWAP is compatible with all ARC-20 tokens and cross-chain assets like BTC, ETH, DOT, BNB, and AirSwap (AST) accessible via non-custodial wallets– MetaMask and Abey Wallet.
Community-driven, XSWAP is open and users can list their assets on the platform.
All pairs have their respective pools where liquidity providers supply digital assets in exchange for XSWAP’s XT token, which serves governance and utility roles.
Additionally, XSWAP uses its unique automated market maker model for pricing adjustments.
All token prices are guided by their respective level of supply and demand determined by the liquidity of their pool.
XT Distributed via Liquidity Mining, Staking, and Airdrops
Earlier in mid-August, the XT airdrop was completed in four hours.
Just a few weeks later, a second airdrop of 500,000 XT was distributed within just thirty minutes.
At present, XSWAP is set to distribute 1 billion XT to liquidity providers—via XSWAP Liquidity pools or on other platforms using the XBRIDGE.
Additionally, users can earn XT tokens whenever they stake via XSTAKE.
There are more XT rewards earned on the XT/ABEY pair for yield farmers since the skew is heavy and both tokens directly serve the ABEYCHAIN ecosystem.
ABEYCHAIN is Multi-layered, Focus on DeFi
ABEYCHAIN epitomizes what DeFi and modern-day programmers need: scalability and interoperability.
On the inspired blockchain, these are demands that are met.
The speed of Ethereum alternatives and a bridge back to activity in a fair system whose hybrid consensus algorithm combines the battle-readiness of Proof-of-Work (POW) and the throughput and energy-efficient Delegated Proof-of-Stake (dPoS).
While it offers a diverse range of solutions, including decentralized storage and NFTs, ABEYCHAIN is an expertly designed blockchain with the user’s needs in mind.
The XSWAP DEX is on the Abey Wallet.
Through this decentralized exchange, it is now possible for ABEYCHAIN users to use digital assets as a medium of exchange as per the vision of the project’s creators.
