123swap

  123swap project 

Good evening my dear friends Since the inception of decentralized exchanges (DEX) a few years ago, there has been a significant shift from conventional centralized exchanges (CEX). However, this has led to some debate over which exchange model can stand the test of time.

While both arguments carry a lot of weight at both ends due to the various factors involved, DEX, on the other hand, continues to attract massive investment despite having been around for almost half a decade.

Currently, there are at least 35 active DEX platforms built on different blockchains, and the market is still growing stronger with no visible signs of slowing down. Yahoo Finance also reports that DEX trading volume has steadily peaked above $140 billion. And that number continues to rise.

Today, there is much controversy about the long-term viability of DEX, and some industry experts argue that DEX and CEX must coexist in order to remain sustainable.

One forward-thinking blockchain startup, rather than wasting time waiting to see who will win the race in the long term, has built a solution that allows CEX and DEX exchanges to coexist seamlessly.

123swap, a decentralized cross-chain network, wants to bridge the gap not only between DEX and CEX, but also to enable interoperability between different blockchain smart contracts.

During an exclusive interview with DailyCoin, Tomas Ambrazas, CEO at 123swap, discussed the current state of the crypto exchange and how this two-year-old startup is looking to revolutionize the entire trading experience using custom solutions.

123swap was created as a result of many factors, one of which includes the challenges and non-scalable factors inherent in centralized exchanges. Ambrazas overcomes some of the major setbacks of CEX that have facilitated the rapid expansion of DEX.

According to him, there has been an increase in the number of active blockchain systems over the years, which further implies a greater increase in the number of crypto tokens operating on each blockchain.

Ambrazas further argues that it becomes very challenging for CEX to accommodate a large proportion of these tokens, especially in terms of executing trading activities such as swapping and yield farming.

Ambrazas said the reality of commerce today is that every blockchain wants to have a special token hosted within its network.

Using Ethereum as an example, Ambrazas notes that about 90% to 95% of most utility tokens are hosted on the blockchain. Fast forward to now, and things are moving a little differently.

“Unlike a few years ago, we now have more alternative blockchains such as the Binance chain, Harmoni and Polkadot chain, among several others. The implication is that good blockchain tokens, most of which were designed to be interoperable, can now be hosted on multiple blockchains, it could be 5, 10, or even more,” said Ambrazas.

Ambrazas points out that the stablecoin Tether USDT was once the most widely used Ethereum stablecoin before blockchain interoperability became possible; now, the stablecoin is also traded on other blockchains like TRON, where it is now getting more transitions than on Ethereum.

So, how does it work in the case of a centralized exchange?

“Basically, if you want to add tokens to the CEX platform, you have to add every blockchain it supports as well. The DEX platform, on the other hand, simply adds a blockchain and makes all host tokens available on the platform. And that is the main solution that the DEX exchange offers,” Ambrazas explains.

Further, Ambrazas stated that in order for a token to be listed on the CEX platform, it must meet certain liquidity requirements, which in most cases are unrealistic for most crypto projects, especially those that are just starting out. However, on the DEX platform, this is not the case.

Ultimately, CEX knocks out scalability opportunities for most tokens, while DEX, on the other hand, is designed to help tokens scale quickly, even over a short period of time.

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123swap Will Bridge the Gap Between DEX and CEX After highlighting some of the setbacks with CEX, and providing expert advice on CEX-DEX coexistence, 123swap built a solution that eliminates the differences between the two exchanges.

For example, the platform bridges the gap where the CEX platform lacks integrated and further interacts with the DEX platform so that both worlds can benefit equally from each other.

“Our solution [was] to complete the Binance smart chain and Ethereum chain edits for their swaps, farms, produce and government. So you can use the two most popular chains for all exchanges, and farming. You can also add and remove liquidity and check all of our systems to see how they work. It lives and works to the fullest,” Ambrazas said.

Ambrazas further mentioned that the team is currently working on adding what he describes as the best link system for interoperability between Binance and Ethereum. They are also working on adding more multi-chain bridges, which will allow them to add more chain links in the future.

The main goal, according to Ambrazas, is for end users to be able to seamlessly exchange from one token to another across multiple exchanges and blockchains and do so on a single market.

On The Flipside

As 123swap is still in its early stages, the solution is limited to only a few exchanges and blockchains for now.

It took some time for the platform to seamlessly integrate the APIs of various blockchain networks.

Why Should You Care?

Despite popular belief, the future of trading may not be limited to decentralized exchanges, as the CEX and DEX systems provide distinct advantages. As a result, adopting a platform that connects the two ecosystems opens up more possibilities.

Tokenomic This is the stage of consistent distributed crypto resource trading. 123swap uses group insights to create a locally represented, live, and decentralized environment for web 3.0. It is based on the Binance Smart Chain biological system. The swap phase is generally self-financed and expects the administration to project. So most of the tokens will be sold during the pre-deal. Equal freedom will be in the hands of the general public and Venture Capitalists. 123swap gives monetary control back to individuals to save and develop abundance together. 123Swap is the ultimate platform for everyone, 123Swap is actively creating a dedicated DEX market and selling non-exchangeable digital assets directly to users. Our conservative estimates suggest that 123Swap could save investors about $600 million in one year of launch. Furthermore, by democratizing access to encryption and DEX trading, the platform will empower all, be it individuals, brands, professionals, startups (blockchain) or celebrities/influencers. Cross-chain compatibility ensures the actual system facilitates all EVM matching methods. The native utility token-backed platform has several live applications in the 123Swap ecosystem. In addition, it covers the iconic economic environment that is driven by Defi and its benefits. Tokonomics 123 is the native token of the 123swap ecosystem, will be used for various defi functions on the platform. 123swap token holders enjoy full control and ownership over the 123swap platform. With 123swap tokens, the users can create and vote on governance proposals. By doing so, they directly influence the direction and characteristics of a protocol. Token Name: 123swap Ticker Symbol: 123 Network: BEP-20 / ETH 20 Token Type: Utility — Governance Total Supply: 129.000.000 Website : https://123swap.finance/ Document : https://docs.123swap.finance/123-token-sale/123swap-token-allocation Linkedin : https://www.linkedin.com/company/123swap/ Reddit : https://www.reddit.com/r/123swap/ Medium : https://medium.com/@123swap Instagram : https://www.instagram.com/123swapfinance/ Twitter : https://twitter.com /123swapfinance Telegram : https://t.me/my123swap_chat

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