Zilliqa: today the launch of ZilSwap
Zilliqa: today the launch of ZilSwap

Zilliqa: today the launch of ZilSwap

By Alfredo de Candia - 5 Oct 2020

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Today was launched the ZilSwap platform, which as its name suggests, allows you to exchange tokens found on the Zilliqa blockchain and create your own pools.

The Zilliqa blockchain uses a system similar to PoS (Proof of Stake), or rather it is a hybrid system of consensus protocol that is given by a mix between PoW (Proof of Work) and PBFT (Practical Byzantine Fault Tolerance).

The Zilswap platform was announced during an event last July as part of a speech about how decentralized finance (DeFi) would evolve, although the Zilliqa team prefers to use the name Open Finance.

On Zilswap we can already see how SHRK and XSGD tokens are listed.

The latter is a stablecoin, launched thanks to the collaboration with Xfers team, already the creator of StratisX.

Among other things, the ZIL/XSGD pair will be the first to have a stablecoin, as well as the first of the whole platform, opening the doors also to all those users who want to exchange it.

In this way also Zilliqa can boast its decentralized exchange (DEX), as we find on the Ethereum blockchain with Uniswap, which has become the first giant of DeFi on this blockchain.

From now on with Zilswap it will be possible to exchange virtually any token of this blockchain, also being able to actively participate in the liquidity of the pools and get rewards, in the same way as on other DEX.

Zilswap and other news about Zilliqa

This is definitely positive news and perhaps also why the price of Zilliqa’s cryptocurrency, ZIL, has gone up and is now traded for $0.019.

Finally let’s not forget that soon ZIL’s staking will also start to get a passive return. The platform is currently being tested but we know from the data that there will be an APY of more than 4000% and we can stake almost 17 million ZIL.

Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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