SIBIU, Romania, Oct. 11, 2022 /PRNewswire/ -- Elrond announced that Maiar Launchpad will host the public sale of AshSwap, a decentralized exchange (or DEX) built to create a highly efficient medium of exchange for similar-priced assets. The Stable-Swap DEX is the 4th startup to have its public sale on Elrond's decentralized funding platform and strategic accelerator, after Audi-backed holoride, Itheum, and Cantina Royale.
With the advent of blockchain technology, a new financial landscape powered by decentralized applications is growing exponentially, unlocking with it new use cases and models, among which arguably the most important has been the possibility to exchange assets for the first time in a trustless environment.
By incorporating concepts of Uniswap and Maiar Exchange, such as liquidity pools and the AMM algorithm, AshSwap is designed to maintain the peg of pooled assets by maximizing capital efficiency and increase their demand by offering the best trading rates.
Instead of evenly spreading the assets deposited by users from zero to infinity, which in most cases would result in unused liquidity, it uses a model that concentrates the liquidity around the peg.
By doing so, AshSwap optimizes swaps between stablecoins and other stable value assets, making larger-sized trades relative to liquidity possible without leading to drastic price changes.
Beyond stablecoins, numerous assets could benefit from such an efficient pricing mechanism for swaps. Different versions of bridged and liquid staking assets also require such an environment to be exchanged optimally.
The ability to trade assets at 1:1 rates is essential for deploying valuable DeFi use cases on any blockchain infrastructure, and AshSwap is the first DeFi protocol to implement a stable-swap model on Elrond's state-sharded blockchain architecture, opening up new opportunities across the ecosystem.
The project will debut on Maiar Launchpad starting on the 11th of October.
About Elrond
Elrond is a new blockchain architecture designed from scratch to bring a 1,000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
About Ashswap
AshSwap is a decentralized automated market maker (AMM) built on Elrond for swapping tokens with stable values. Ashswap seeks to make it more efficient for users to swap stable pairs with less slippage. For instance, users can convert USDT to USDC or WBTC to renBTC with minimal loss. AshSwap seeks to take part in the DeFi development on Elrond and bring enhanced yield dynamics to blockchain users in general and Elrond users in specific.
Media Contact:
Dan Voicu, Head of Communications
dan.voicu@elrond.com
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