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DeSo, a new layer one blockchain, is excited to announce the launch of its revolutionary cross-chain smart service MegaSwap, to allow users to safely and easily exchange coins between different blockchains.
As per the announcement, MegaSwap will allow users to exchange coins between blockchains with zero-friction login. This new service aims to address critical issues, including signing up new users and providing liquidity to Web3 applications across the blockchain ecosystem.
Notably, in its limited release, the new platform has seen over $5 million in volume, demonstrating its potential to revolutionize the crypto market. MegaSwap will offer an alternative and more secure solution to the traditional centralized mode of exchange. Users no longer have to log in or provide sensitive personal information. Additionally, users can now store their coins in their own custody wallet instead of keeping them on a centralized exchange. This design will help reduce the risk of unexpected crashes, as in the case of BlockFi, FTX, Celsius, and Voyager.
With MegaSwap, users can easily and securely Exchange between Solana, DeSo, Bitcoin, Ethereum, and USDC, enabling them to navigate seamlessly from one application to another. The DeSo team plans to add support for other blockchains such as NEAR, Doge, ADA, and others in the coming days.
While commenting on the new platform, DeSo’s Founder, Nader Al-Naji, stated:
“One of the biggest use cases we think will have the biggest impact is bringing in new users who don’t have your coins. That all changes with MegaSwap, where developers can leverage crypto-to-crypto exchanges between any two coins, regardless of blockchain ecosystem. : getting new users without making them buy your coins on the exchange.”
Apart from that, MegaSwap will also serve as a simple and innovative solution for developers who wish to build Web3 applications on various blockchains. The new platform will allow developers to install a frictionless zero-login API with a single line of code, making their applications off-chain and accessible from any blockchain. As a result, applications on Ethereum will be easily created with applications on DeSo or Solana. This will make it easy for users and provide liquidity for any blockchain ecosystem.
In the past, DeSo has experienced a series of significant successes. DeSo raised $200 million from lead investors, launched a fundraising platform called Openfund, and formed a strategic partnership with Princeton University to launch the first of its kind Web3 startup competition. Additionally, the DeSo Social Network Hard Fork has just gone live to enable decentralized verification.
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