Swappi Launches as the First DEX on Conflux ‘eSpace’ with USD 25M in TVL

cryptonews.com:

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

New York, NY, 15th April, 2022, Chainwire

Swappi, a new AMM-based decentralized exchange (DEX), today launched on Conflux, the only regulatory compliant public blockchain network in China. With the launch of Swappi, Conflux users have a new DEX to swap, stake, and earn yields on their crypto assets. Swappi has already reached USD 25 million in Total Value Locked (TVL) at the time of launch. 

Swappi is the very first DEX to launch on eSpace, an EVM-compatible smart contract execution environment that allows developers to deploy and execute Ethereum-native dApps and smart contracts within the Conflux ecosystem. As an AMM-based DEX, Swappi lets users trade in a fully decentralized environment without registering or creating an account, enabling anyone to start trading within seconds. 

By deploying on a permissionless layer 1 blockchain with significantly lower transaction costs compared to other chains like Ethereum, Swappi is able to provide users with the lowest fees of any top DEX at 0.25%. At launch, supported assets include Conflux’s native token CFX, ETH, USDT, WBTC, and PPI.

Swappi aims to build the most robust DeFi ecosystem on Conflux, with plans to expand its offerings to give users more opportunities to earn. 

Swappi V1, the current iteration of the DEX, enables the following features:

Further, on the roadmap, Swappi plans to enable IFOs. DAO voting, dual mining staking pools, stablecoin LP swaps, NFT trading, and much more. 

Swappi’s exchange token PPI can be earned through yield farms with extremely competitive interest rates unlocked by staking PPI and LP (liquidity pool) tokens.

PPI can also be won by playing games and participating