Last week, OpenSwap started an ongoing poll to let the community decide which chain OpenSwap should be deployed on next with the choices being: Avalanche, Fantom, and Matic. The poll is still active, and community members are encouraged to participate in it by staking $OSWAP in the governance portal.
As OpenSwap prepares to move to additional chains, we want to first let our community get familiarized with the new chains by opening up our DEX Aggregator to them. As a treat to our fellow trolls, the first to show up on our DEX Aggregator will be Avalanche!
At this moment in time, it will screen all major decentralized exchanges such as Trader Joe, Curve, Pangolin, etc. Giving OpenSwap users the best rate for their swaps is always our priority. If Avalanche wins the poll, we will also deploy our Hybrid Smart Router on Avalanche to enable our swappers to get the best bang for their buck!
For trolls of you who have been with us the whole time on BSC, Avalanche is a thriving blockchain that supports smart contracts. It is a chain that is fast, cheap, and has around ~350k-800k daily users. It also is the 4th biggest chain in terms of TVL behind Ethereum, Terra, and Binance Smart Chain.
For new DeFi users who are new to OpenSwap, we are a platform that will solve the problem of scattered liquidity across different chains as one of our many core offerings. Currently, our offerings include our liquidity queue that allows users to swap with zero slippage, our DEX Aggregator, which helps to screen decentralized exchanges for the best price for their swaps, and our Hybrid Smart Router is currently available on Binance Smart Chain. In time, we will aim to potentially route through several DEXs to provide an even better price, even across multiple chains.
By taking this step, we hope to extend our services to DeFi users on Avalanche. With our single-asset cross-chain bridge — the Open Interchain Protocol — launching in the coming months, we strongly believe that our progress will bring us another step closer to solving the problem of fragmented liquidity.
OpenSwap is the world’s first DEX providing on-chain swaps at zero slippage and multi-chain arbitrage opportunities. As the DeFi universe continues to expand, liquidity becomes increasingly scattered across multiple chains and the situation is poised to get worse as new chains emerge with individual DEXs on each chain. The OpenSwap team has been working for the past several months on building up a vision of a comprehensive one-stop DeFi hub that offers the best on-chain pricing, multi-chain arbitrage, and zero slippage, allowing users to experience revolutionary benefits through optimizing their trades through unique features such as Liquidity Queues, Hybrid Smart Router, and Open Interchain Protocol.