Key Takeaways
- AshSwap, the first stable-swap DEX on the MultiversX blockchain, is launching on February 17th.
- AshSwap offers seamless integration of DeFi functions with tight spreads and a fraction of the liquidity found on other DEXs.
- AshSwap offers various functions including liquidity provision, liquidity staking, governance staking, yield boosting and more.
- The platform aims to increase capital efficiency for liquidity providers and maximize returns over time by offering a user-friendly interface to trade and manage assets.
With the recent news of the FTX collapse and the growing need for decentralized financial solutions, the launch of AshSwap, the first stable-swap DEX, could not come at a better time. As the demand for decentralized exchanges (DEXs) continues to increase, AshSwap is poised to offer a unique solution that bridges the gap between critical DeFi functions and the stability that users require. By launching a stable-swap DEX, AshSwap is setting itself apart from other DEXs and positioning itself as a key player in the DeFi space.
DEXs offer users the advantage of control over their own funds and greater security compared to centralized exchanges (CEXs), and with the growing popularity and advancements in DeFi, the outlook for DEXs remains positive as more users seek decentralized financial solutions.
AshSwap, the first stable-swap DEX on the MultiversX blockchain, will officially launch on February 17.
The DEX raised $2.5 million in a private sale led by Elrond in November 2021. The initial offering of ASH tokens on Maiar Launchpad sold out, with 70,000,000 ASH (7% of the total supply) valued at $2.8 million, and all its core features have been available on the MultiversX Devnet since October 2022.
AshSwap will have several functions, including Pool V1 (Stable-swap), Liquidity Provision, Liquidity Staking (Farming), Governance Staking, and Yield Boosting. It will launch with three pools: USDC/UDST/BUSD (Stable-swap), ASH/USDT (V2), and EGLD/BUSD (V2).
Users can participate in Yield Farming by adding liquidity in the available pools and receiving LP tokens. They can then stake LP tokens to earn ASH tokens as farming rewards, which will be decided by the DAO.
By staking ASH in Governance Staking, users receive veASH (voting escrow ASH) and unlock multiple benefits. The more votes a pool receives, the more ASH rewards will be allocated, leading to a higher APR and deeper liquidity.
AshSwap has a unique feature called Bribe, which allows anyone to bribe veASH holders to vote for their farms. This will help increase the liquidity of a particular pool.
AshSwap CEO, Neil Nguyen, stated that the team chose to develop on MultiversX because of its compelling vision to onboard the next billion people into web3 and its strong ability to execute on that vision.
The AshSwap team intends to develop more trading products in the future while still delivering a seamless and user-friendly interface.
AshSwap’s native token, ASH, is designed to serve the sustainable growth of the protocol and incentivize liquidity providers on the platform.
To celebrate its launch, AshSwap is hosting a series of incentivized warm-up activities, including a staking reward pool, a referral program, boosted APY for all pools, and a custom quest for users to obtain ASH points.
Overall, the launch of AshSwap as the first stable-swap DEX on the MultiversX blockchain marks a significant development in the evolution of DeFi and highlights the growing demand for decentralized and user-friendly financial solutions. With its innovative features such as Liquidity Provision, Governance Staking, and Bribe, AshSwap is poised to make a lasting impact in the DeFi space and deliver on its vision of adding greater DeFi interoperability to boost capital efficiency for liquidity providers and maximize returns over time.
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