Matrixswap Cemented A Partnership With MeowSwap

Matrixswap is very proactive when it comes to seeking exclusive partnerships with great projects within our ecosystem. We are proud to announce that we have partnered with an Occam.fi incubated project, MeowSwap.

As Defi on Cardano is inevitable, MeowSwap aims to have the first-mover advantage with their proprietary DEX already deployed on Cardano. As of December 11th, MeowSwap has shared their first-ever DEX transaction on Cardano mainnet.

MeowSwap is a Layer 2 Decentralized Exchange that uses Layer 1 (L1) for secure storage of assets whilst taking away the computational load from the L1 networks. It’s the best of two worlds offering users the security of L1-based DEX’s, and the speed that nearly matches CEX systems.

MeowSwap utilizes Cardano’s main chain to store deposits in a trustless method and log all deposits and withdrawals while L2 nodes take the computational load on managing exchange operations and data transactions. This essentially reduces any necessary data to be validated on Cardano’s main chain which means faster throughput for the end-users.

Once the floodgates of users flock to Cardano for its fast speeds and low transaction costs, Matrixswap plans on using the liquidity from MeowSwap’s AMM to utilize the liquidity in Matrixswap very own DEX Aggregator (Router).

As MatrixSwap is already deployed on Polygon (Ethereum Layer 2) and Binance Smart Chain (BSC), the platform aim to succeed in its original goal of deploying on Cardano. With so many partnerships announced already within the Cardano ecosystem, the goal is in sight.

ABOUT Matrixswap
Matrixswap is a fully decentralized virtual-AMM-based perpetual swaps trading protocol deployed on the Polkadot, Cardano, and Polygon blockchains. Unlike traditional AMMs, users can long or short any assets’ perpetual contracts with up to 25x leverage. Matrixswap aims to be a fully community-owned and governed Defi protocol.

ABOUT MeowSwap
MeowSwap is a Layer 2 Decentralized Exchange that uses Layer 1 (L1) for secure storage of assets whilst taking away the computational load from the L1 networks. It’s the best of two worlds offering users the security of L1-based DEX’s, and the speed that nearly matches CEX systems.

RESOURCES
Medium

Source: https://thebittimes.com/matrixswap-cemented-a-partnership-with-meowswap-tbt8181.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam

Category: DeFI News

Post by: TheBitTimes.com