The launch of MegaSwap by DeSo, supported by Coinbase, is being referred to as 'Stripe for Crypto' and has already garnered over $5 million in transactions.

Los Angeles, United States, 7th February, 2023, Chainwire

DeSo is excited to announce the launch of MegaSwap This innovative cross-chain service, MegaSwap, allows users to swap coins among various blockchains securely and effortlessly, all without the need for a login. MegaSwap addresses significant challenges, such as onboarding new users and providing liquidity to any web3 project across multiple blockchain ecosystems.

During its initial rollout, MegaSwap has already recorded over $5 million in trading volume, showcasing its potential to transform the crypto landscape through cross-chain swaps.

MegaSwap presents a safer option compared to conventional centralized exchanges, as it eliminates the necessity for users to log in or share sensitive personal data. Rather than storing their assets on a centralized exchange, users have the option to keep them in personal wallets, reducing the risk linked to unforeseen crises like those experienced by FTX, BlockFi, Celsius, or Voyager.

MegaSwap This straightforward and inventive option is tailored for developers eager to create web3 applications across diverse blockchains. With just a single line of code, they can incorporate its seamless no-login API, thereby making their apps compatible with all chains. For the first time, developers can integrate applications from Ethereum with those from Solana or DeSo, fostering easier access to liquidity and enabling the onboarding of new users across any blockchain platform. “We believe one of the most significant applications that will have a lasting impact is attracting new users who don’t possess your coin. MegaSwap changes that by allowing developers to facilitate swaps between any two cryptocurrencies across various blockchain ecosystems. This innovative use case addresses the primary challenge for blockchain developers today: welcoming new users without requiring them to purchase your coin through an exchange.” – Nader Al-Naji, the founder of DeSo, elaborates.

The current blockchain ecosystem is quite fragmented, posing difficulties for users wishing to explore different platforms. With MegaSwap, users can swiftly and securely exchange cryptocurrencies such as Ethereum, Solana, Bitcoin, DeSo, and USDC, and soon, support will extend to additional blockchains like NEAR, ADA, Doge, and others! This development significantly simplifies transferring assets between blockchains, allowing communities to easily switch from one app to another.

DeSo aims to establish a Social Layer for Web3 that facilitates smooth transitions across various blockchains. The introduction of MegaSwap is a significant step towards achieving this vision, addressing a major challenge holding back blockchain integration. web3 apps This announcement marks another achievement for DeSo in a series of recent milestones. They have also rolled out a groundbreaking fundraising platform named Openfund, enabling entrepreneurs to initiate tradeable coin-backed fundraising rounds through the industry's fastest order book exchange. With MegaSwap and its other tools, founders and developers can effortlessly finance projects, attract new users, and broaden their influence within the extensive DeSo ecosystem. DeSo has recently collaborated with Princeton University to develop a pioneering project, with several more exciting releases on the horizon that will position DeSo as the leading layer-1 blockchain for decentralized social media solutions.

DeSo The recent launch allows for decentralized verifications, and there are plans to transition to a proof-of-stake model later this year to enhance performance and reduce energy consumption. mass adoption of cryptocurrencies.

As a new layer-1 blockchain thoughtfully crafted from square one, DeSo is designed to accommodate and scale data-driven applications for billions of users. The project raised $200 million and is supported by high-profile investors like Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winklevoss Capital, Pantera, and others.

With the combination of Openfund , it is important to clarify that the details shared on this page should not be construed as legal, tax, investment, financial, or any other form of advice. Only invest what you can afford to lose, and seek independent financial guidance if needed. For more information, refer to the terms and conditions and the help and support sections provided by the issuer or advertiser. MetaversePost is dedicated to delivering accurate and impartial news, but market conditions can change without notice.

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About Deso

Harvard has initiated legal proceedings against the Trump Administration regarding a $2 billion funding suspension, raising important questions about the implementation of blockchain technologies in educational institutions. decentralize social media A report by Reown and Nansen reveals that 62% of cryptocurrency users manage multiple wallets, indicating substantial ecosystem fragmentation.

Check out the full roadmap and claim your username on deso.com .

Contact

Ash Ghaemi
DeSo Foundation