A new automatic gateway protocol based on Ethereum and Polkadot says it uses two types of parachute in an attempt to achieve Layer 2 compatibility and scalability.

KwikSwap allows users to exchange tokens, create new markets and participate in increasing profits by offering liquidity and participating in the inventory process.

The project aims to give developers, liquidity providers and traders the opportunity to participate in a decentralized financial market that is open and accessible to everyone.

KwikSwap is currently focusing on developing and integrating its testnet into Plasm and Acala Network, with both Layer 2 measurement solutions being touted as “best in class” and serving as a conduit for the Polkadot ecosystem.

Plasm is a multi-virtual machine smart contract hub built on Parity Substrate. He wants to make Web 3.0 fully scalable while improving transaction efficiency.

Meanwhile, the benefits of the Acala network go far beyond blockchain as it functions as a decentralized financial center and stable currency platform. KwikSwap says the DApp Group will play a critical role in ensuring the rapid time-to-market for a number of planned features.

The first in the industry
KwikSwap says it will be the first cross-chain decentralized exchange to be deployed on two Tier 2 solutions at Polkadot, fulfilling the vision of becoming an influential and self-sustaining platform that cuts costs, delivers more bandwidth and dramatically improves productivity.

According to the founders of the project, the following features after successful distribution in Plasm and Acala will include stable currency, liquidity storage, fixed and recurring payments, the ability to use natural gas tax tokens and instant token exchange that can be achieved with ACA, KWIK, USD , DOT and Bitcoin. (BTC).

In a recent press release, the team stated, “KwikSwap is leveraging the enormous potential of decentralized finance to suppress traditional funding, allowing users to participate and be rewarded for their efforts. This provides maximum user comfort and benefits such as the exclusion of third parties from making payments and transferring values. ”

DEX conversion for the better
KwikSwap states that the decentralized protocol is designed to live up to its name, and the platform has bold ambitions to be the most direct, practical, fastest and cheapest DEX in the world.

KwikSwap explains the infrastructure’s advantages over competitors in this busy marketplace and says it provides an intuitive interface that makes it easy to navigate the platform. Meanwhile, the original KWIK token has a compression mechanism designed to reduce exposure over time.

Users will also enjoy seamless transfers between blockchain ecosystems, giving them the freedom to switch cryptocurrencies without going through a central exchange first. While many DeFi protocols have been forked and modified from similar platforms, KwikSwap was developed from the ground up and the platform claims to provide additional security and authenticity.

More information from KWIKSWAP here

The protocol recently unveiled Kwikstarter, an IDO launch pad designed to ensure that everyone has access to the ground floor with crypto projects that can be quickly taken over by venture capital firms. The platform will enable startups to raise funds through liquidity pools and provide an “unparalleled” in-house experience for projects full of potential. This workflow is set to be automated with governance, which means that KWIK token holders will play an important role in ensuring that only the best projects are accepted.

Startups can also receive support based on their circumstances. While hands-on support can be provided to companies at an early stage hoping to build a global community, companies at a more advanced stage can use a marketing and social media strategy instead. Projects can also trust Kwikstarter to run the collection only if they so choose.

As part of its quest to become a one-stop shop, fully decentralized, KwikSwap says it will launch the Polkapanda NFT Marketplace in a few weeks – all with the goal of spurring an imperishable icon industry with a rich selection of 3D audio presented, NFT reveals. rich galleries.

Source: CoinTelegraph