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A look at AliumSwap

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Written by   205
5 months ago
Topics: Cryptocurrency, NFT

2020 is a colorful year in the history of DeFi development because the explosive growth of Ethereum’s DeFi has created an endless stream of various DEX and mining projects, creating a number of wealth opportunities and introducing us to a number of excellent DEXs, such as Uniswap, SushiSwap , etc. However, as the price of Ethereum continues to increase, the problem of high gas fees on the Ethereum chain has also scared off a group of retail investors who are eager to try. The good thing is that there are always more solutions than difficulties, and the high gas fee and touching TPS of Ethereum have also brought ideas and inspiration to other platforms and public chains, such as Binance Smart Chain BSC, Huobi Ecological Chain HECO, and high-performance public chain SOLANA and others have begun to make efforts to highlight their advantages and seize the opportunity to win a place. The DeFi era also incorporates diversity and competitiveness, and a hundred flowers bloom, which is a good development trend.

Recently, the popular DeFi section is definitely NFT. NFT category tokens such as CHZ, MANA, SAND, ENJ, etc., which take games and sports as the entry point, have a fierce momentum, and everyone has to put their eyes on this track. Many new projects have also focused their attention on the NFT market, trying to make products more diversified. Binance Smart Chain's decentralized exchange AliumSwap is also doing this.

1. Some shortcomings of the current DEX

At present, various AMMs are emerging in endlessly, but overall there are still some shortcomings. In general, there are some:

1. The function is limited and single

Most AMM decentralized exchanges have limited and single functions and can only provide some functions. They cannot meet the diverse needs of users and cannot maximize user benefits. For example, some Swap is a simple trading and market makers, and there is no cross-chain , Multi-chain is not supported.

2. Difficulties in the circulation of cross-chain assets

Most of the current DEXs are based on a certain chain, which also limits the need for deposited assets to support a certain chain. It is inconvenient to cross-chain with each other and cannot be easily traded and circulated.

3. Transaction fees remain high

The transaction fee on the Ethereum chain knows who uses it, and who uses it distressed. Sometimes the amount is too small and the transfer amount is less than the handling fee, and as the number of users increases and the price of ETH increases, the transfer time becomes longer and the handling fee handling fee will also rise.

2. Multi-chain + NFT decentralized exchange AliumSwap

AliumSwap is the world's first decentralized exchange that supports multi-chain and NFT . The multi-chain and cross-chain solution provides solutions for asset circulation, transfer, and transactions in different channels. At the same time, platform tokens are integrated into the concept of NFT, which improves the impact on external fluctuations. Resistant ability to reduce the fluctuation of the value of the token. The Beta version of AliumSwap was launched in mid-March 2021. Based on BSC, it will be compatible with ETH, Heco, Matic, NEAR, etc. in the future.

The AliumSwap team comes from global blockchain industry experts, proficient in DeFi applications, the team size is 10+, the configuration is balanced, covering multiple fields such as IT, NFT, business development, and the main creators have many successful consecutive entrepreneurial experiences + NFT senior experience, IT The project team has conducted in-depth research on well-known projects such as Pancake swap, Sushiswap, Mooniswap, Emiswap, etc., providing a foundation for the growth of the project.

AliumSwap has now completed 2.2 million US dollars in financing, including Kyber Network, the founder of SubzeroDeals, Karma DAO co-founders, Cryptoinsured capital, Dots capital, Cryptomeria Capital and Consensus Labs have all participated in the private equity financing of the project. There are many detailed tasks in the future plan of AliumSwap : The future AliumSwap plans to connect to more public chains, including Heco, Matic, SOLANA, Avalanche, NEAR, PolkaDot, Xeno, etc. In addition, it will integrate NFT industry resources, such as joint blockchain games MTG/Heartstone, etc., NFT migration integration solutions, etc., and in-depth cooperation with well-known industry leaders and well-known crypto artists.

3. Product highlights of AliumSwap

1. Multi-chain and cross-chain

Multi-chain cross-chain is one of the main highlights of AliumSwap. The multi-chain open market created by AliumSwap's multi-chain technology can realize asset transactions and transfers on different chains, which is convenient, fast, and unobstructed.

2. NFT cross-chain

AliumSwap proposed the concept of NFT2.0, and AliumSwap is also a cross-chain platform for NFT 2.0. Since NFT has the basic characteristics of blockchain, it also has unique and non-homogeneous characteristics, has collection value, can exist independently of the platform, NFT cross-platform solution, it is convenient for users to deploy NFT assets on any network, and it is also convenient for users to mining, trade, collect, etc.

The scenarios used by NFT itself include blockchain games, artworks, NFT markets, etc. With the support of cross-chain solutions, there is also a lot of room for phenomena, such as interaction between blockchain games on different platforms through NFT , For example, NFT assets can be deployed on any network.

In the AliumSwap ecosystem, users with NFT cards who participate in mining in Alium’s smart pool will have a great opportunity to increase their profits. This is also a great innovation!

3. Support liquidity transfer

Have you ever thought of transferring the liquidity of Binance Smart Chain and Heco Chain to AlliumSwap? With more and more chains supported by AliumSwap, users can easily achieve this goal.

4. Safe and fast

Security has always been the most basic requirement for the development of DeFi, but many projects have not been done well, allowing hackers to take advantage of it and losing accumulated users.

The AliumSwap team also pays great attention to these things. The current code is completely open source, and at the same time, it can realize cross-chain asset transfer at a lower cost, and meet user needs from all aspects of product integrity.

Summary

DeFi is the current hot spot, but the current DeFi DEX still has many shortcomings. NFT is also one of the current hot sectors, but the two are not very well integrated. From the perspective of improving the common shortcomings of DEX in the current market, AliumSwap solves the problem of asset intercommunication through multi-chain and cross-chain solutions. It also combines the current NFT hotspots and proposes the concept of NFT 2.0, which integrates NFT + multi-chain AMM. Such a product is undoubtedly very exciting.

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Written by   205
5 months ago
Topics: Cryptocurrency, NFT
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