THELOGICALINDIAN - O3 Swap is an aggregator of decentralized exchanges beyond assorted blockchain networks not aloof Ethereum
The DeFi amplitude is booming, with absolute amount bound aerial to new best highs in May 2024. With added and added clamminess entering the space, the affair of interoperability becomes added pressing. That’s area O3 Swap comes in.
Building Bridges in DeFi With O3 Swap
O3 Swap aggregates DEX clamminess beyond assorted blockchains and Layer 2 solutions, including Ethereum, BSC, Neo, and more.
The protocol’s O3 Aggregators accredit burning cross-chain transactions, analytic the affair of siloed assets and DeFi casework actuality clumsy to collaborate with anniversary other.
The DEX aggregator is accessible for anyone to use with no KYC required. It sources the best barter rates and trading routes on the bazaar from the non-custodial exchanges affiliated to the protocol. O3 Swap additionally has a cross-chain basin alleged O3 Hub, abacus alike added clamminess and authoritative burning cross-chain swaps accessible at any time.
The basin provides users with cross-chain transaction casework based on PolyNetwork and offers them the adventitious to acquire assets and O3 rewards.
App developers will additionally anon accommodate O3 Swap into their apps application the protocol’s accessible API service. The absolute Swap tab will be added in the O3 Wallet adaptable adaptation soon.
Why Use O3 Swap?
The O3 Swap agreement automatically finds the best ante beyond assorted DEXes. While the back-end action is complex, this is not transferred to the user experience. For users, all swaps are accomplished anon with the bang of a button.
Users absorbed in bargain fees or basic ability would acceptable be bigger off application O3 Swap than any of the affiliated decentralized exchanges directly.
Let’s attending at an example.
On a centralized barter like Binance, the action of application BNB to acquirement the HUSD stablecoin is continued and cumbersome, involving assorted sets of affairs forth with KYC and 2-step analysis forth the way.
On the added hand, users can bandy BNB with HUSD instantly and at a abundant lower amount artlessly application O3 Swap. Fewer sets of affairs acquaint a lower tax accountability and lower fees.
Even if users autonomous for a decentralized barter in the aloft example, rather than Binance, O3 Swap would acceptable assassinate the transaction for a bargain amount than users would acquisition by application a DEX directly.
A fairer allegory would be to an aggregator like Curve Finance, which aggregates clamminess beyond assorted stablecoins to acquiesce for low-fee swapping amid those assets.
However, while Curve is a stablecoin aggregator for Ethereum-based stablecoins, O3 Swap is an aggregator for a huge alternative of agenda assets (including stablecoins) beyond several altered blockchains, not aloof Ethereum.
Project Background
The agreement was incubated by O3 Labs, a Japanese startup that launched in 2017. The team’s aboriginal absolution was an open-source ablaze wallet alleged O3 Wallet. The activity went on to abutment DeFi projects in the Neo ecosystem afore accretion to cross-chain interoperability and clamminess with O3 Swap.
O3 Labs anchored $2 actor in allotment in April 2024, with investors like OKEx Blockdream Ventures, SevenX Ventures, Neo Eco Fund, and more.
A association airdrop is demography abode amid Apr. 25 – May 6, 2021, alms users the adventitious to earn O3 Swap tokens, the built-in belvedere tokens. These tokens can be staked in the clamminess basin for rewards and additionally facilitate voting and added babyminding features.
The balloon adaptation of O3 Swap is now live, alms users the adventitious to acquire built-in tokens, and the official barrage is appointed for Q2 of this year. O3 Swap will additionally be ablution a DAO and an Initial Dex Offering.
You can view the roadmap on the activity website or chase O3 Labs on Twitter, Medium, Telegram, and Discord for added information.
