SIBIU, Romania, October 11, 2022 /PRNewswire/ — Elrond announced that Maiar Launchpad will host the public sale of AshSwap, a decentralized exchange (or DEX) built to create a highly efficient medium of exchange for similarly priced assets. Stable-swap DEX is the fourth startup to have its public sale on Elrond’s decentralized funding platform and strategic accelerator, following Audi-backed Holoride, Itheum and Royal Winery.
Elrond announces stable-swap DeFi protocol AshSwap as next project on Maiar Launchpad
With the advent of blockchain technology, a new financial landscape driven by decentralized applications is growing exponentially, opening up new use cases and models, arguably the most important of which was the ability to exchange assets in a trustless environment for the first time.
By integrating concepts from Uniswap and Maiar Exchange, such as B. Liquidity Pools and the AMM Algorithm, AshSwap is designed to keep pooled assets locked in by maximizing capital efficiency and increase their demand by offering the best trading rates.
Instead of spreading the assets pledged by users evenly from zero to infinity, which in most cases would result in untapped liquidity, it uses a model that concentrates liquidity around the peg.
In this way, AshSwap optimizes swaps between stablecoins and other stable-value assets, allowing for larger trades relative to liquidity without causing drastic price changes.
Beyond stablecoins, numerous assets could benefit from such an efficient swap pricing mechanism. Different versions of bridged and liquid staking assets also require such an environment to be exchanged optimally.
The ability to trade assets at 1:1 rates is essential to deploying valuable DeFi use cases on any blockchain infrastructure, and AshSwap is the first DeFi protocol to offer a stable-swap model on Elrond’s state-sharded Implemented blockchain architecture, thereby opening up new possibilities for the ecosystem.
The project will debut on Maiar Launchpad starting October 11th.
About Elrond
Elrond is a new blockchain architecture built from the ground up to deliver 1,000x cumulative improvements in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism and a Secure Proof of Stake (PoS) algorithm that enables linear scalability with a fast, efficient and secure consensus mechanism. Capable of processing more than 15,000 transactions per second (TPS) with 6 seconds latency and negligible cost, Elrond seeks to become the backbone of a permissionless, borderless, globally accessible internet economy.
About Ashswap
AshSwap is a decentralized automated market maker (AMM) based on Elrond for swapping tokens with stable values. Ashswap tries to make it more efficient for users to swap stable pairs with less slippage. For example, users can convert USDT to USDC or WBTC to renBTC with minimal loss. AshSwap wants to participate in DeFi development on Elrond and provide improved earnings momentum to blockchain users in general and Elrond users in particular.
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SOURCE Elrond
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