Swapz and AstroSwap Create Cardano History: A Space Age Update

March 12, 2022
Ecosystem Updates , Swapz
0

Trade ANY Cardano Asset at Warp Speed With Swapz and AstroSwap!

A little while ago we had announced a strategic partnership with AstroSwap. It’s time to revisit that and share some earth-shattering news.

SundaeSwap recently went live on Cardano. However, there were teething troubles from the get-go, with users having to wait for days for orders to execute. Reasons given were network congestion on Cardano itself, with hopes for improvement as the network upgrades roll in.

Worry not, Cardano Cryptonauts! Swapz and AstroSwap have executed on their initial partnership promise to solve this problem in a novel way, creating history for the entire crypto ecosystem in the process.

There are multiple firsts with this announcement, so let’s dive right in:

1. Swapz is now the Official Bridge Partner for AstroSwap

AstroSwap is the new Coin Dex from space built for Cardano, and powered by WagyuSwap, already our partners with Cross-Chain Swapz available off their dashboard itself.

2. Swapz has created the 1st Cardano to Velas Bridge in the World

Swapz is the premier protocol for cross-chain everything.

To this end, we see a huge opportunity in the massive liquidity already present on Cardano, and and even bigger opportunity in marrying this liquidity to Velas, the fastest chain in the world.

Cardano accepts 7 transactions per second.

Velas accepts 50k transactions per second with fast finality.

That’s what you call a planetary shift in speed and efficiency.

In short, the opportunity is simple: AstroSwap is powered by WagyuSwap, who are already partners with Swapz with our cross-chain protocol directly usable off the WagyuSwap dashboard.

In a similar move, Swapz has created the first Cardano to Velas bridge in the world, effectively making Velas a Layer 2 for Cardano. The Swapz Cardano bridge supports Shelley era Cardano, and allows users to swap assets onto Velas, and utilise its blazing fast speeds for transacting.

This means you can swap Cardano ADA to ADA on Velas, and transact with Cardano assets on AstroSwap, with vastly faster finality, and a truly space age trading experience.(Please note that while swapping, the transaction on Cardano itself can take time because of network congestion—this is outside our control. But once bridged onto Velas—you’re on an interstellar trading highway!)

And there’s more. WAY more.

3. The Swapz Cardano-Velas Bridge is Multicoin by default

What does this mean?

Simply that the bridge we have created is not limited to ADA alone. ANY Cardano asset at all can be bridged over to Velas chain, and hence, transactions can be processed using Velas as an effective Layer-2 for Cardano.

Eventually all High Volume Cardano tokens will be added on the Swapz interface, making Swapz the hub of bringing these assets onto an EVM compatible chain with much faster finality and greater scalability.

Now comes the truly amazing part, the Swapz secret sauce that makes this experience the best in the world:

4. Any Cardano asset bridged to Velas using the Swapz Protocol is INSTANTLY MINTED 1:1 on Velas, meaning NO LIQUIDITY IS NEEDED

You read that right!

Imagine any trade at all you want to make on Cardano.

Simply go over to AstroSwap, and use the Swapz Protocol to bridge assets onto Velas chain.

They are instantly minted on Velas, backed 1:1 with Cardano assets, and the trade itself takes place on Velas as a layer-2 over Cardano.

Liquidity has been a long-term concern in the entire space, and with V2 fast approaching, we’re happy to share that this is an issue we’ve already solved for our Cardano bridge.

The trading experience on AstroSwap, powered by Swapz technology, is going to be truly out of this world.

Is there more? YES!

So far Cardano users have had to use a separate wallet such as Yoroi for their Cardano assets, as MetaMask does not work with them. There are certain restrictions with these wallets, for example most of them do not have browser extensions at all.

Swapz fixes this.

How?

Velas can simply be added as a new network within MetaMask, and users can keep their assets bridged from Cardano to Velas within MetaMask itself!

You can use MetaMask for Cardano assets once they’re bridged onto Velas. Talk about space age.

This is also not all. We have more news still.

Swapz supports Nami Wallet (MetaMask for Cardano)

Swapz supports Nami Wallet Extension, which is basically MetaMask for Cardano.

  1. Nami already works with Brave, Chrome as well as Microsoft Edge.

  2. Nami also allows separate accounts (like MetaMask) within the same interface, allowing delegation to separate pools all off off one seed phrase.

With Swapz the method has always been to allow users to get to the right trade, fast. We are about user experience first, and everything else second.

That’s what we’ve done by supporting Nami and finding a way for users to use MetaMask for their Cardano assets (once moved onto Velas).

We Already Have More Coming

Had Enough? We have not!

Advanced users will be able to use Swapz Bridge to transfer tokens directly without using the UI by sending them on specific cardano addresses.

Murmurs about Swapz V2 have already been in the air, and with launching the first bridge between Cardano and Velas, Swapz takes one more step towards becoming the Cross-Chain Everything Protocol.

With AstroSwap going live in under 24 hours, a new era of space-age trading begins, powered by Swapz.

Swap more, Win more. Simple.


About Swapz

Swapz is the Cross-Chain Everything Protocol: a cross-chain stablecoin swapping platform that connects all EVM compatible blockchains, effectively uniting DeFi with Web 3.0. When traders and investors see a profitable opportunity on a different chain, Swapz lets them quickly and securely swap their stablecoins into that network to make that winning trade.

Official Swapzhttps://t.me/SwapzAnn/38

About AstroSwap

AstroSwap will set a new standard for decentralized trading with lightning-fast transactions, automatic liquidity locking, and ultra high staking and farming yields. Prepare for the lowest fees in the universe as you trade on AstroSwap: the future home of Cardano’s top projects.

Official AstroSwap: https://t.me/AstroSwapOfficial/10478

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