HakuSwap is excited to announce its strategic partnership with OpenSwap — the world’s first DEX that provides on-chain swaps at zero slippage. The OpenSwap Bridge Founders Program will be initially introduced on the Binance Smart Chain (BSC) & Avalanche (AVAX) testnets. HakuSwap will integrate OpenSwap’s decentralized native-token and cross-chain bridge to make $Haku — the native token of HakuSwap accessible to liquidity sources and explore the endless possibilities on the currently available chains supported by the OpenSwap Bridge.
This is an extremely important and exciting opportunity to foster the growth of both ecosystems and continue empowering cross-chain accessibility to the blockchain communities while increasing the adoption and higher trading volume on both ecosystems. Ultimately this creates a more rewarding and seamless user experience, as our community members will greatly benefit from low fee trading possibilities with the OpenSwap Bridge integration.
As HakuSwap continues expanding into new ecosystems pushing blockchain innovation forward and rewarding the community with the lowest fees per trade, Swap Revenue Sharing with xHaku, NFT Staking and Mining, Trade Mining, High APR Pools, 1 Click Zap LP Creator, and Free Token Multisender.
In order to facilitate peer-to-peer market-making and swapping of ERC-20 tokens on the Avalanche blockchain and maintain High Trading Volumes, HakuSwap is integrating OpenSwap Bridge for secure and decentralized cross-chain trading possibilities that would allow our token holders to conduct chain-native cross-chain swaps.
Currently, the most common cross-chain approaches in the DeFi space are:
‘Lock and Mint Synthetics’, a method where native tokens are given to a custodian who in turns mints a synthetic version of the token on a target blockchain, and ‘Cross-chain Liquidity Pair Pool’, a method where liquidity providers need to stake pairs consisting of a native token with the platform token into pools, a highly complex mechanism. These traditional cross-chain bridging models contain many flaws that are yet to be addressed, such as slow speed, high costs, high complexity, and the proliferation of synthetics of the same underlying asset.
HakuSwap decision to integrate OpenSwap Bridge along with their DEX Aggregator and Hybrid Smart Router and core offerings will undoubtedly allow both HakuSwap and OpenSwap communities to scan for the best price available across all the supported DEXs while opening $Haku to liquidity from all the chains supported by OpenSwap’s ecosystem. This can be achieved through OpenSwap’s unique cross-chain mechanism enabling a seamless purchase of any token with a stable coin.
HakuSwap’s strategic partnership with OpenSwap will undoubtedly foster the growth of innovative features on both ecosystems and improve accessibility and adoption to both HakuSwap and OpenBridge adoption.
About OpenSwap
OpenSwap is the world’s first DEX providing on-chain swaps at zero slippage with hybrid smart routing, and a single asset cross-chain bridge. As the DeFi universe continues to expand, liquidity becomes increasingly scattered across multiple chains and the situation is poised to get worse as new chains emerge with individual DEXs on each chain. The OpenSwap team has been working for the past several months on building up a vision of a greater OpenSwap ecosystem that will become every crypto project’s BFF through a set of key offerings that will empower teams to establish funding and sustained token health, allowing teams to focus on what they do best — BUILD.
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About HakuSwap
HakuSwap is the newest Dex on Avalanche with the lowest fees and the highest APRs for Defi investors & traders! HakuSwap is a crypto world for users to trade, earn, and game. It is the premier choice for projects on Avalanche with features including AMM, NFT, and GameFi.
To find out more about HakuSwap, please follow our social media channels and stay updated on new developments.
HakuSwap Team
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