Lichang, a public blockchain network and IOST partner node, has announced to launch a public blockchain Swap product portal called Allswap in the third quarter of 2020.
Going further with its announcement, Lichang also confirmed about additional services it will be offering for the IOST decentralized finance (DeFi) ecosystem, including liquidity pools and decentralized transactions.
Allswap will be equipped with features useful for IOST Swap users such as:
- Enabling them to connect to and access the IOST wallet
- Allowing them to connect to IOST DeFi projects or applications.
- Providing them with information useful for Swap such as crypto exchange rates, the capital amount in mining pools, and new tokens.
Furthermore, Lichang is planning the development of a Swap product on the IOST public blockchain that will provide support for:
- Decentralized cross-chain bridge where IOST users will be not only able to deposit tokens into the blockchain protocol but also mint new tokens in a decentralized ecosystem.
- Flash exchange that will allow IOST users to exchange their tokens for another in no time.
- Programmatic pricing based on liquidity that will enable liquidity providers to increase as well as redeem liquidity from Swap pairs.
IOST is one of the world’s leading public blockchain platforms alongside Ethereum, Tron, and EOS. It is known for its proof-of-burn (POB) consensus mechanism and functions on decentralization, which enhances both scalability and speed.
IOST mainnet has gained immense popularity among developers for its developer-friendly features, helping them develop new DeFi products while improving efficiency.
Moreover, some other features entice developers to both develop and launch DeFi projects on the IOST platform, including zero congestion and low gas fees.
As far as users’ convenience is concerned, IOST charges zero transaction fees from them for accessing DeFi applications on the IOST blockchain.
The market for DeFi applications is growing rapidly. IOST understands this trend and provides DeFi projects the opportunity to get benefitted from IOST technology and integrated into traditional finance.
IOST has been consistent in its efforts to support the growth of new DeFi projects on its blockchain ecosystem. As a part of this, it has recently unveiled the Noah Oracle One-Million Dollar Fund. With this fund, IOST is hoping to bring blockchain in the mainstream and contribute to the evolving decentralized global economy.