So excited to announce the launch MegaSwaps – a revolutionary cross-chain smart service that allows users to exchange coins safely and easily between different blockchains with zero frictionless login. MegaSwap solves a variety of critical issues, including incorporating new users and liquidity into any web3 application across the blockchain ecosystem.
In its limited release, the platform has seen over $5 million in volume, demonstrating its potential to revolutionize the crypto market with cross-chain exchanges.
MegaSwap offers an alternative and more secure solution to the traditional centralized exchange model where users do not need to log in or provide sensitive personal information. Instead of keeping their coins on a centralized exchange, users can store them in their own custody wallet to reduce the risk of unexpected destruction, as seen with FTX, BlockFi, Celsius, or Voyager.
MegaSwaps is a simple and innovative solution for developers who want to build web3 applications on various blockchains. Developers can install a frictionless zero-login API with a single line of code, making their applications chain-agnostic and accessible from any blockchain. For the first time, applications on Ethereum can easily be built with applications on Solana or DeSo. MegaSwap thus makes it easy for liquidity and new users to join into any blockchain ecosystem.
“One of the biggest use cases we think will have the biggest impact is bringing in new users who don’t have your coins. That all changes with MegaSwap, where developers can leverage crypto-to-crypto exchanges between any two coins, regardless of blockchain ecosystem. : getting new users without making them buy your coins on the exchange.” – DeSo founder, Nader Al-Naji, explains.
The current blockchain ecosystem is fragmented, making it difficult for users who want to try different web applications3. With MegaSwap, users can easily and securely exchange between Ethereum, Solana, Bitcoin, DeSo, and USDC, with support coming soon for other blockchains such as NEAR, ADA, Doge, and more! This makes it easier than ever to move funds between blockchains allowing the community to navigate from app to app seamlessly.
So committed to creating a Social Layer for Web3 that allows the community to seamlessly transition between different blockchains. The launch of MegaSwap is a testament to this commitment and removes a major hurdle preventing the mass adoption of cryptocurrencies.
This is another example of a series of recent successes for DeSo. Recently, they launched a groundbreaking fundraising platform called Openfund which allows entrepreneurs to launch tradable coin-based fundraising rounds via the world’s fastest order book exchange.
With a combination of openfund and MegaSwap, founders and builders can easily fund projects, acquire new users, and expand their reach with the full suite of powerful tools in the DeSo ecosystem.
They also recently partnered with Princeton University to launch the first of its kind web startup competition3 and has many upcoming releases that will position DeSo as a layer-1 blockchain for building decentralized social media applications.
Besides that, Social Network Hard Fork just went live, enabled decentralized verification. They plan to move to proof of stake later this year, improving performance and energy efficiency.
DeSo is a new layer-1 blockchain built from the ground up to decentralize social media and scale storage-heavy applications to billions of users. It raised $200 million and is backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winklevoss Capital, Pantera, and other blue chip funds.