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RE: HIVE CrossDEX Proposal

in #hive6 months ago

Let me clarify the differences between what we've already built and what we're proposing with the CrossDEX on HIVE:

Existing Bridges: Currently, we have six custom-built bridges for SPS & DEC tokens, including BSC <> HIVE, ETH <> HIVE, and BSC <> ETH. We also have the Swidge Protocol for SPS & DEC tokens.

CrossDEX on HIVE

Expanded Blockchain Support: We plan to add over 10 blockchains, including both EVM and non-EVM chains.
Fiat Gateway: This will include both on-ramp and off-ramp functionalities.
Extended Liquidity Pools: Beyond HBD & HIVE, we aim to list various EVM & non-EVM tokens.
One-Click Swidge: Seamless switching between all supported blockchains.
Standalone Platform: CrossDEX will have its own dedicated domain, distinct from our current interface.
Web2 User-Friendly: Account abstraction for easy onboarding, automating complex Web3 processes to present a simple Web2 frontend.
Diverse Wallet Connectivity: Users will be able to connect various EVM and non-EVM wallets to the DEX.
Liquidity Staking Provision: A key addition is enabling users to provide liquidity in these pools, which is a major draw for DeFi enthusiasts and can significantly boost user engagement.

Building on Existing Foundations: Our work with Splinterlands and the upcoming GLS lays the groundwork for creating a DEX on HIVE. This move is strategic for attracting liquidity from leading chains and simplifying Web3 onboarding.

In essence, while our existing products have laid a solid foundation, the CrossDEX on HIVE is a significant leap forward, offering broader blockchain integration, enhanced liquidity options, and a more user-friendly experience, especially for those new to Web3.

Hope this clears things up!