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    Coinbase-Backed DeSo Unveils MegaSwap, a “Stripe for Crypto” product, with Over $5 Million in Quantity

    Latest News


    Los Angeles, United States, seventh February, 2023, Chainwire

    DeSo is happy to announce the launch of MegaSwap – a revolutionary, cross-chain sensible service that allows customers to securely and simply swap cash between totally different blockchains with a frictionless zero-login. MegaSwap solves varied important 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 an alternate and safer resolution to the standard centralized trade mannequin the place customers don’t ever must log in or present delicate private info. As a substitute of storing their cash on a centralized trade, customers can retailer them in their very own self-custody wallets to mitigate the danger of unexpected meltdowns, comparable to these seen with FTX, BlockFi, Celsius, or Voyager.

    MegaSwap is an easy, modern resolution for builders in search of to construct web3 functions on totally 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.

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    “One of many greatest use circumstances we expect may have the best affect is onboarding new customers that don’t personal your coin. That each one modifications 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 superb wedge as a result of it solves the largest ache level for each blockchain dev right this moment: getting new customers with out making them purchase your coin on an trade.” – Founding father of DeSo, Nader Al-Naji, explains.

    The blockchain ecosystem is presently fragmented, making it arduous for customers who need to check out totally 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 totally 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 current string of successes for ​​DeSo. Just lately, they launched a breakthrough fundraising platform referred to as Openfund that allows entrepreneurs to launch tradeable coin-backed fundraising rounds by way of the world’s quickest order e book trade.

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    With the mix of Openfund and MegaSwap, founders and builders can simply fund tasks, purchase new customers, and broaden their attain with a complete suite of highly effective instruments within the DeSo ecosystem.

    In addition they lately partnered with Princeton College to launch the first-of-its-kind web3 startup competitors and have a slew of upcoming releases that can place DeSo because the go-to layer-1 blockchain to construct decentralized social media functions.

    Moreover, the Social Community Exhausting Fork simply went reside, enabling decentralized verifications. They plan to maneuver to a proof of stake later this yr, enhancing efficiency and power 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 functions 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.

    Take a look at the complete roadmap and declare your username on deso.com.

    Contact

    Ash Ghaemi, DeSo Basis ,[email protected]

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