DeSo is worked up to announce the launch of MegaSwap – a revolutionary, cross-chain good service that permits customers to securely and simply swap cash between completely different blockchains with a frictionless zero-login. MegaSwap solves varied essential 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 affords an alternate and safer answer to the normal centralized change mannequin the place customers don’t ever need to log in or present delicate private data. As an alternative of storing their cash on a centralized change, customers can retailer them in their very own self-custody wallets to mitigate the danger of unexpected meltdowns, equivalent to these seen with FTX, BlockFi, Celsius, or Voyager.
MegaSwap is a straightforward, modern 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 many largest use instances we expect may have the best impression is onboarding new customers that don’t personal your coin. That each one adjustments 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 good wedge as a result of it solves the most important ache level for each blockchain dev at present: getting new customers with out making them purchase your coin on an change.” – Founding father of DeSo, Nader Al-Naji, explains.
The blockchain ecosystem is presently fragmented, making it laborious for customers who need 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 permits 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 one more instance in a latest string of successes for DeSo. Just 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 ebook change.
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 competition 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 Network Hard Fork simply went stay, enabling decentralized verifications. They plan to maneuver to a proof of stake later this yr, bettering efficiency and power 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.