[PRESS RELEASE – Los Angeles, United States, 7th February 2023]
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 completely different blockchains with a frictionless zero-login. MegaSwap solves numerous vital ache factors, together with onboarding new customers and liquidity to any web3 utility 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 normal centralized alternate mannequin the place customers don’t ever need to log in or present delicate private data. As a substitute of storing their cash on a centralized alternate, customers can retailer them in their very own self-custody wallets to mitigate the danger of unexpected meltdowns, similar to these seen with FTX, BlockFi, Celsius, or Voyager.
MegaSwap is an easy, progressive answer for builders looking for to construct web3 purposes on completely 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 the biggest use cases we think will have the greatest impact is onboarding new users that don’t own your coin. That all changes with MegaSwap, where devs can leverage crypto-to-crypto swaps between any two coins no matter what blockchain ecosystem they’re in. This last use case is a great wedge because it solves the biggest pain point for every blockchain dev today: getting new users without making them buy your coin on an exchange.” – Founding father of DeSo, Nader Al-Naji, explains.
The blockchain ecosystem is at present fragmented, making it arduous for customers who wish to check out completely 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 enables communities to seamlessly transition between completely different blockchains. The launch of MegaSwap is a testomony to this dedication and eliminates a significant hurdle stopping the mass adoption of cryptocurrencies.
That is yet one more instance in a latest string of successes for DeSo. Lately, they launched a breakthrough fundraising platform known as Openfund that permits entrepreneurs to launch tradeable coin-backed fundraising rounds by way of the world’s quickest order e book alternate.
With the mixture of Openfund and MegaSwap, founders and builders can simply fund initiatives, purchase new customers, and increase their attain with a complete suite of highly effective instruments within the DeSo ecosystem.
Additionally they just lately 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 Arduous Fork simply went reside, enabling decentralized verifications. They plan to maneuver to a proof of stake later this yr, bettering efficiency and vitality effectivity.
About Deso
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.
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