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Yesterday the ZilSwap platform, which as its name suggests, allows you exchanging tokens found on the Zilliqa blockchain and create your own groups.
#Zilswap just came to town, courtesy @SwitcheoNetwork! 👏
📢 Calling token holders & arbitrageurs to:
⚡️Provide liquidity for the pair & earn transaction fees
⚡️Sign up to maintain ZIL / SGD peg on the ZIL / XSGD pairWatch this space for demo videos to be shared today! -AN https://t.co/jMCwZAN1Zz pic.twitter.com/Szxba9YhO5
– Zilliqa (@zilliqa) October 5, 2020
The Zilliqa blockchain uses a system similar to PoS (Proof of Stake), or rather it is a hybrid system of consensus protocol that occurs through a mix between PoW (Proof of Work) and PBFT (Practical Byzantine Fault Tolerance).
The Zilswap platform was announced during an event last July as part of a speech on how decentralized finance (DeFi) would evolve, although the Zilliqa team prefers to use the name Open Finance.
In Zilswap we can already see how the SHRK and XSGD tokens are listed.
The latter is a stable coin, launched thanks to the collaboration with the Xfers team, already the creator of StratisX.
Among other things, the ZIL / XSGD pair will be the first to have a stable currency, as well as the first of the entire platform, also opening the doors to all those users who want to exchange it.
Zilliqa-powered #XSGD’S public listing signals a MAJOR STEP FORWARD in making a regulated and travel-rule compliant digital asset more accessible to all. @xfers Kudos! 👏
Proud & excited that the 1st stablecoin pair ZIL / XSGD will be listed on @SwitcheoNetwork'S #ZilSwap -AN
⬇️ https://t.co/VVbKA3BQgG
– Zilliqa (@zilliqa) October 5, 2020
In this way also Zilliqa can boast of its decentralized exchange (DEX), as we find on the Ethereum blockchain with Uniswap, which has become the first DeFi giant on this blockchain.
From now on, with Zilswap, it will be possible to exchange practically any token on this blockchain, being able to actively participate in the liquidity of the pools and obtain rewards, in the same way as in other DEXs.
Zilswap and other news about Zilliqa
This is definitely positive news and perhaps also the reason why the price of the Zilliqa cryptocurrency, ZIL, although it has fallen is now trading for $ 0.019.
Finally, let's not forget that soon the staking of ZIL will also begin to obtain a passive return. The platform is currently being tested, but we know from the data that there will be an APY of over 4000% and we can bet almost 17 million ZIL.
