DeSwap provides multichain access with market-leading LP rewards, all through a user-friendly interface.
Cumbria, United Kingdom, 20th Jul 2022, DeSpace Protocol has announced the launch of DeSwap — a user-friendly, multichain Decentralized Exchange (DEX) targeting both emerging and established blockchain ecosystems. DeSwap is a core component of DeSpace’s comprehensive ecosystem that allows users to switch between decentralized exchanges, liquidity farms, staking and lending protocols, NFT marketplaces and other Decentralized Finance (DeFi) and NFT solutions. DeSwap and DeSpace’s other products are built to make the DeFi and NFT spaces more accessible to users at all levels.
DeSwap will initially support Cube Network, with support for Polygon and BNB Chain coming shortly after. To help attract liquidity to the exchange, DeSpace is offering Liquidity Providers (LPs) the entire 0.30% of the DEX’s swap fees over a six-month incentive period—nearly double what is offered by market leader PancakeSwap.
Traders will also earn through DeSwap, with ‘coinback’ incentives and airdrops planned for early adopters. These rewards will come in the form of DES, DeSpace’s native token, or DESWAP, the brand-new governance token launching to support the DEX.
The AMM DEX will soon include features such as limit orders and perpetual futures contracts. The first version of DeSwap will launch on Cube Network on July 21.
With so many DeFi and NFT products entering the market, the crypto space is becoming difficult to navigate for new users. The increasing complexity of these products coupled with the disconnection between platforms makes it hard for users to navigate between products — either to compare features or use the services they’ve paid for. A lot of the time, users find themselves navigating back and forth between different websites and having to hold more than one token to access the services they need.
“We built DeSpace to reduce the confusion and inefficiency that arises from constantly having to keep switching between DeFi and NFT platforms,” says DeSpace founder Obasi Francis Ifegwu. “Now, with DeSwap, users can easily swap tokens on established and emerging chains. Decentralized exchanges are the gateway to DeFi, and we’re excited to be bringing this to new users around the world.”
DeSpace’s ecosystem will be supported by DeChain — a layer 2 blockchain solution that functions as a bridge between DeFi, NFT and other products from different blockchain protocols. When it goes live, DeChain will automatically reward users with DES tokens for transacting in the DeSpace ecosystem, thanks to the protocol’s Proof-of-Transaction validation method.
DeSpace has already launched an NFT Auction Pad where users can bid on unique, collectible NFTs, and an NFT Lottery Pad, where users can win NFTs. DeSpace will shortly release a multichain NFT marketplace and aggregator that allows users to buy, sell, stake and transfer NFTs from different marketplaces, all while earning DES token rewards.
DeSpace is also developing a decentralized multichain lending protocol and DeFi aggregators. All products will feature DeSpace’s DES coinback rewards and are designed to meet the needs of new users and experienced traders alike.
About DeSwap DEX
DeSwap is a powerful multichain AMM DEX, designed to support inexperienced users and pro traders alike. In addition to standard market orders, the DEX will also feature limit orders and perpetual futures contracts, all available through an easy-to-use interface. DeSwap will initially support Cube Network, with expansions to Polygon and BNB Chain planned for soon after launch.
About DeSpace Protocol
DeSpace Protocol is the most advanced DeFi and NFT navigation tool to date. It empowers users with a range of DeFi and NFT products from around the crypto ecosystem all from a single interface. DeSpace is supported by DeChain, a Layer-2 blockchain solution that connects disparate chains and allows easy transactions across several bridges. Every time a user transacts, they are rewarded with DES, the protocol’s native token which also unlocks a massive amount of utility within the platform.
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