APP
Reported Coindesk, a developer team building on the Avalanche blockchain has introduced a trading tool that lets users swap up to 300 different tokens in the same transaction.
Multiswap, by the team at CavalRe, has recorded the highest number of token swaps in a testing period at 340 different tokens, developers said during a panel in Seoul last week.
Liquidity pool DEX usually let traders swap one token for another. Multiswap’s code creates a liquidity pool containing many different tokens that can be easily traded with each other, enabling multiple trades to occur in a single transaction.
“Think of it like a new kind of decentralized ETF,” said CavalRe founder Eric Forgy. “On testnet, we have a pool with over 500 tokens representing a mockup of the S&P 500 for demo purposes, which represents over 125K trading pairs with zero fragmentation of liquidity.”
“The entire liquidity for each token is available for trading against any other token in the pool. You would need 125K separate pools to replicate this on Uniswap, which just splinters any available liquidity,” Forgy said.
Stay updated with the most important cryptocurrency news and valuable insights, conveniently delivered to your email every day. Subscribe to the TokenInsight mailing list now!
Prefer social media? Follow us on Twitter, or subscribe to our Telegram channel!
If you have news reports or announcements that you want to reach a wider audience, feel free to email us at news@tokeninsight.com
- Last:
- Next:
