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AstroSwap has launched on January 282022 roughly five months after completing its highly anticipated Initial Decentralized Exchange Offering (IDO) on ADAPad in October 2021. The platform will hopes to entice users with a number of innovative features, including transaction fee refunds in VLX (Velas) each time users make a swap.
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AstroSwap Aims to Take Over the $240Bn DeFi Scene
- The allocation of 45 percent of the 10 billion of ASTRO to AstroSwap's staking reserve to sustain their ultra-high APYs. The objective of AstroSwap creators is to incentive participation and build a vibrant community.
- Interoperability and bridge-building is another frontier AstroSwap wants to create. AstroSwap is deploying on the interoperable Velas and will launch on Cardano--once the KEVM is activated--and other high-performance chains, facilitated by the Swapz bridge. While operating on Cardano, the bridge allows AstroSwap to be interoperable with Ethereum, operating as a layer-2.
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- Ā Later, the high performance DEX will also launch on Solana.
- Support for MetaMask, the world's largest non-custodial hot wallet.
- AstroSwap will support Cardano (ADA) and Velas (VLX)-two of the world's most liquid coins-as the base currency for paying fees. Traders need not worry about trading fees because they are near zero on Velas.
- Introduction of a lottery system to reward users with an auto-liquidity locking system.
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Velas - Partnerships Galore
Velas is set apart by its high transaction processing speeds, while BlueZilla has incubated other successful DeFi projects. By propping up AstroSwap, the future looks bright for the DEX.
Velas has struck a partnership with Ferrari for more brand exposure.
Velas' partnership with SpaceChain, resulting in the deployment of a light node to space on SpaceX's Falcon 9 rocket, will boost the chain's security, benefiting AstroSwap.
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ASTRO is a Shining Star
With further plans to eventually deploy on Cardano, offering high-tech DeFi products in a chain recognized for its emphasis on quality, AstroSwap is an excellent project. Its developers are community-facing, holding highly interactive AMAs while hosting competitions where users are rewarded with ASTRO prizes.
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CURATOR'S NOTE
Cardano's ecosystem is ramping up with a new Dex
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