SaucerSwap, an automated market maker (AMM) protocol, has been recognized as the world’s first decentralized exchange (DEX) to facilitate token swaps on the Hedera network using Hedera’s Smart Contract Service (HSCS) v2.0 and Token Service (HTS).
Recently announced, SaucerSwap has quickly become one of the leading DeFi protocols to use Hedera technology. DeFi protocols became compatible with Hedera for the first time with the release of HSCS v2.0, which allowed the Hedera network to host decentralized exchanges (DEXs) using required smart contracts. The exciting announcement and addition to the Hedera network, which has developed a reputation for its fast, low-fee framework and enterprise focus, promises exciting benefits to consumers worldwide.
The SaucerSwap DeFi protocol uses an automated market maker (AMM) to facilitate swaps of fungible tokens using HSCS v2.0 and HTS. SaucerSwap developers designed the protocol to fulfill a vital role and serve as an onboarding ramp for HTS projects, ensuring SaucerSwap will catalyze the growth of the Hedera ecosystem and support projects both large and small. The SaucerSwap announcement and development timeline has been met with positive feedback from the community, who are excited about SaucerSwap’s Uniswap-esque DeFi protocol.
In addition to its supporting traditional AMM functions, SaucerSwap will also include a full-suite of DeFi services, including liquidity pools (LPs), yield farms (or “Crop Circles”), single-sided staking (or “Infinity Pools”), Community Pools (or “Initial Farm Offerings”), play-to-earn games, and cross-chain capabilities (or “Intergalactic Cross-Swaps”). A decentralized autonomous organization (DAO) will be phased in overtime, allowing the community to ultimately own and operate the SaucerSwap DeFi protocol. This development will ensure it mirrors Hedera’s path to decentralization by embracing a novel, decentralized DAO framework of its own.
“As a DeFi protocol, SaucerSwap maximizes the Total Value Locked (TVL) on the Hedera network through an integration of liquidity pools, HTS project community pools, novel staking mechanisms, such as game theory-incentivized staking, and other exciting features,” remarked Peter Campbell, Marketing Lead at SaucerSwap. “SaucerSwap has plans to dramatically scale in the coming months as development and rollout to the consumer market continues. Given that Hedera’s TVL amounts to a whopping $0.00, any mention of increasing this metric to compete with other networks where DeFi already exists is compelling and long overdue,” he added.
The advent of DeFi on Hedera, which has been brought to life by popular projects like SaucerSwap, leaves Hedera well-positioned to capture the market from enterprise and retail ends. The fast, low-fee framework of the Hedera network promises exciting benefits to consumers worldwide as SaucerSwap leads the way in taking full advantage of Hedera’s Smart Contract Service (HSCS) v2.0 and Token Service (HTS), delivering consumers the ability to swap fungible tokens across the universe with finality at the lowest fees in just seconds.
To learn more about SaucerSwap, please visit saucerswap.finance or docs.saucerswap.finance. To find exclusive updates and announcements, follow SaucerSwap on Twitter, and join their Discord.
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Company Name: SaucerSwap
Contact Person: Peter Campbell
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Country: United States
Website: https://www.saucerswap.finance