Cypherium launches decentralised exchange CypherSwap

Tuesday 13 October 2020 13:58 CET | News

US-based Cypherium, an enterprise-focused blockchain platform has announced the launch of CypherSwap, a decentralised exchange (DEX) offering cross-chain compatibility.

This is the first DeFi-centric product from Cypherium, capable of negating several limitations offered by other DEXs. CypherSwap isn't tethered solely to Ethereum tokens and is able to offer a series of tokens from any blockchain ecosystem, including Bitcoin, ETH, and XRP. 

CypherSwap removes liquidity concerns thanks to its deterministic algorithm, dubbed the “Automatic Market Maker” (AMM). Therefore, it can provide liquidity regardless of the size of the order book or liquidity pool. It does so by gradually increasing prices along with demand.

The DEX is underpinned by liquidity providers who furnish the corresponding tokens on the chains of various currencies through the CypherLink protocol. These cryptos are then bought by traders who can exchange coins at a fixed fee of 0.30%. The exchange process is automatically completed via smart contracts within the Cypherium chain.

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Keywords: Cypherium, CypherSwap, decentralized exchange, DEX, DeFi-centric, tokens, blockchain, AMM, United States, US, blockchain platform, Ethereum, XRP, cryptocurrency, Bitcoin
Categories: DeFi & Crypto & Web3
Countries: United States
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DeFi & Crypto & Web3

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