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A Swap, An NFT Marketplace, A Bridge Protocol, A DeFi Platform

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Written by   180
11 months ago
Topics: Swap, NFT Market, Bridge, Protocol, Defi, ...

Recently, as a result of my research and reading, I have come across projects with really big goals. The crypto money project that I will tell you about today is 123swap, which is one of such comprehensive projects.

As the name suggests, this project is basically a decentralized swap exchange. However, it is clear that they do not intend to be an ordinary swap exchange. In addition to building an exchange to integrate with almost any network in the crypto market, they aim to offer DeFi services such as yield farming, lending and borrowing, create a marketplace where users can sell by creating NFTs, and provide a bridge service to facilitate multi-chain asset management. They say that they have created an infrastructure that is transparent, decentralized and completely managed by the community, as they aim for the swap platform they will build to be a web3-oriented community platform. They state that users holding 123 tokens can have a say in the management and development of the platform. This platform, which will include services that are not available in all other swap exchanges serving in the crypto money industry, is already integrated with Ethereum, Fantom, Binance Smart Chain, Avalanche, Polygon, Heco, Harmony, Cronos, Moonriver, Arbitrum.

In short, the 123swap platform seems to have rolled up its sleeves so that almost all transactions related to the crypto money market can be made quickly and reliably from one place. Except for the latest trends metaverse and gamefi, of course. However, in the future, they may want to take a hand in this matter.

The platform's governance token, 123 Token, is currently based on BEP 20 and ERC 20 and has a maximum supply of 129 million. In addition, the project's security tests were carried out by Hacken and it was concluded without any problems.

The team of the 123swap project consists of 12 people. While there are anime portraits instead of photos of the team members, each of them has Linkedin addresses. We can say that two names who are the founding members of the project team and undertake the duties of the CEO and CTO of the project come to the fore.

The founding member Tomas Ambrazas, the first of which is the CEO of the project, is the chairman of a licensed money institution in the European Union. Having held senior management positions in 25 different companies, Ambrazas also holds a banking graduate degree. The CEO, who has consulting experience in blockchain and ICO issues, is also an angel investor.

 Tadas Ambrazas, the other founding member who is the CTO of the project, is also a licensed broker with 15 years of financial experience.

Before concluding my article, which took about 3 hours, I would like to briefly state my opinion about the project. Frankly, I can say that it was very attractive to me that it would integrate so many features with many networks. In particular, many people feel the lack of a bridge protocol that will integrate with almost any network on the market. Such a decentralized structure can be very successful if it works at an affordable price and without problems. However, not all of these tasks will be easy to accomplish. I can say that the team information in Whitepapper did not satisfy me. Moreover, I noticed that the pre-sale organizations that had to be held were postponed 2 times. However, I think the distribution of the token supply within the scope of the project could have been better. For this reason, before you decide to invest in any way or participate in the pre-sale, be sure to do your own research.

It is not investment advice.

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Avatar for ErdoV
Written by   180
11 months ago
Topics: Swap, NFT Market, Bridge, Protocol, Defi, ...
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It's quite a mega project if the team can actually see it through

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