SWFT Blockchain, a cross-chain cryptocurrency transfer protocol, has announced its latest effort exploring adapting its algorithm for DEXs, in order to launch a new best-execution DEX aggregator.
The SWFT Blockchain team powered its first swap between two cryptocurrencies back in 2017; almost 3 years ago. Since then, millions of swaps worth hundreds of millions of dollars have been powered by the SWFT Blockchain cross-chain protocol.
“In 2021, one of our priorities is to combine our years of cryptocurrency swap experience; including hundreds of millions of dollars in swap volume, with the transparency and composability that decentralized finance brings to the table. Some people refer to DeFi as “money legos” and going by that philosophy; we are going to be working on another brick.”
– The SWFT Blockchain Team
SWFT’s new solution is being designed to work in synergy with its existing cross-chain swaps to create a CeFi + DeFi combo; with the best rates from centralized and decentralized exchanges in one place. In the future, SWFT envisions the solution will be packaged into one API and integrated with its partners.
An important piece for the aggregator to achieve full decentralization will be its governance. The platform’s native SwftCoin (SWFTC) will take on a new role as a governance token; thus allowing holders to propose and vote on improvements, changes, and developments to the aggregator protocol. SWFTC holders will also earn a share of the swap fees generated by the aggregator.