Daily, the blockchain space makes important steps towards widespread adoption. In the race towards widespread adoption, major challenges such as convoluted interface, scalability, hidden fees, and time-consuming registration need to be resolved.
Indeed, blockchain technology has transformed many sectors and dramatically impacted several industries, including the Internet of Things, supply chain, finance, marketing and advertising, healthcare, etc. However, blockchain technology’s full potential is yet to be harnessed due to lots of adoption challenges, including the ones mentioned above.
Nonetheless, new blockchain platforms have been rolled out to solve these problems and promote widespread adoption. A notable example of such a platform is 123swap – a completely decentralized non-custodial, all in one swap exchange protocol built on a multi-blockchain network to enable seamless swap and purchase of all DeFi products all from a single dashboard.
123swap solves the problem of liquidity and interoperability similar to decentralized exchanges. The platform allows for cross-chain swaps and eliminates third parties when swapping tokens, thus solving the decentralized exchange’s liquidity problem. Read on to know more about this platform.
What Is 123swap
Launching soon, 123Swap is a fully decentralized cross-chain swap protocol that provides a client one-stop-shop experience for exchanging, holding, sending, receiving, earning, investing, borrowing, and lending tokens across numerous networks. built on multiple blockchains including Ethereum, Binance smart chain, Cardano and the most recent Polychain network (an Ethereum scaling solution). 123swap will allow you to swap between any coins from any blockchain ecosystem. This means that you can swap a large number of coins on the platform, including BTC, ETH, USDT, XRP, LTC, and many more without having to move your assets or trade on third-party platforms.
Key Function/Features Of 123swap ?
According to the 123swap white paper, the following are the key functions/features of the 123swap platform that distinguish it from the others and make it one of a kind:
- Arbitrage Possibilities:
123swap searches for the best price in the market to swap and allow traders to carry out Abitrage.
- Automated Trades:
Similar to uniswap and pancakeswap. 123swap is an Automated Market Maker (AMM) but with limit order, stop limit order, and various other automated possibilities.
- 123swap Token Value Capture:
75% of the transaction fees are returned to 123swap token holders through a burn mechanism. The rest are sent to a token holder-controlled community development fund.
- Visualise the Swap in a Whole New Way:
See the amount of transactions in real-time. Showing all the metrics used to calculate the swap will help the user make a better decision.
- Save Gas Fees:
Automated mirror pools route funds together in a single transaction, saving users’ gas fees.
- Cross Chain:
Traders can choose any of the 500+ available liquidity pools cross-chain (Ethereum, Binance, Polkadot, and various others.
- Access to Multiple Trading Pairs:
The users /traders of the 123swap platform can find every trading pair they need.
- Bringing Leading Protocols & Platforms Together:
123swap will bring together leading protocols and platforms and allow honest farmers to leverage the maximum potential of decentralised finance.
- Community Governed:
Community of strong-headed holders, full platform control by community.
- 123swap DEX Liquidity Oracle (DLO):
A platform that solves liquidity inefficiency.
- Large Order Fulfillment :
Transact large quantities of assets strategically on 123swap without the associated risks, allowing traders to preserve token price without bearing the risk of tanking the market.
- 123token Governance:
No pre-mined tokens for project owners, team etc. After a public sale, the community will decide if there will be any of that and if there will be any, then with what restrictions.
123swap will be a revolutionary protocol in many ways. It will spur mainstream blockchain by solving the major challenges seen in decentralized exchanges today. This fully multi-chain swap protocol will allow users to swap between any coins on any blockchain, thus saving on transaction cost, risk, and time. Its upcoming launch will surely change coin swapping for the better.