Lumenswap, a decentralized exchange for the Stellar network allowing its users to swap and trade assets on the network using minimal interface, would soon launch a new version enabling more trading with less transaction fee to broad-base the system.
The CEO of Lumenswap announced about its soon-to-be-launched DeFi ecosystem to facilitate more trading with the least possible transaction fee. The company CEO made this announcement in his latest official statement on Monday.
Making this corporate announcement here, the Lumenswap CEO Jed McCaleb said the company is simplifying the system of trading on digital assets, quickening the swapping with least possible interface.
“We aimed at making a dedicated ultra-sophisticated App that would facilitate this process. Lumenswap will help our customers swap their trade assets easily with minimal interference on the Stellar blockchain.,” Lumenswap CEO added..
The sources from Lumenswap also added that they will prioritise the key elements of transparency in the decentralised financial network to guarantee the security of data and transactions.
Lumenswap is a decentralized exchange and open-source client for the Stellar network that allows you to swap and trade assets on the network using a friendly, minimal interface.
In the cryptocurrency market, one of the most important factors is the initial and original creator of the coin. Lumenswap, which helps the traders and businesses make their transactions using the stellar network, is also affected by the people’s viewpoint on the head of the Stellar network. Jed McCaleb and Joyce Kim are the original founders of Stellar network and its coin which was initially called Stellar. With Jed McCaleb having worked on the development of the cryptocurrencies for a long time (previously working with Ripple Labs Inc to create Ripple), we can make sure of the founders.
As you know, banks and organizations use Ripple widely to transfer money, but Jed McCaleb devised XLM especially for traders among individuals. This has allowed more and more traders to use cryptocurrencies in their daily transactions.
Lumenswap, being a client of Stellar, follows similar rules as Stellar. At first glance, Stellar seems very similar to the traditional system of banks, following some similar rules, but there are critical differences when we get deeper into the subject. Stellar, using a decentralized system, has faster and cheaper (in terms of fee) transactions than many other platforms.
The Advantages of Lumenswap
Find the best prices
Lumenswap uses Horizon to choose the best rates for a trade based on the liquidity rates and the submitted order books on the network.
Fast and Low Costs
Lumenswap client is on the Stellar Network so it benefits from its features such as scalability and low fees.
Open and Decentralized
By default, all of the available assets on the Stellar Network are also available for trade on Lumenswap. You can add whichever you want to Lumenswap and convert them to each other.
Support of Popular Wallets
For better accessibility, Lumenswap supports different wallets. Currently, you can use Rabet, Freighter, Albedo, and private keys.
Sustainability of the blockchains
The sustainability of blockchains has become a trend in recent years. Lumenswap offers all its services using XLM. There is a limited amount of this currency, which is already released. To access this asset one has to exchange other forms of cryptocurrency or fiat money into XLM. This means there is no need for mining to gain more currency. This is a distinctive characteristic of XLM and Lumenswap, which also makes them green and environment-friendly to trade. This has become especially important as mining other cryptocurrencies such as Bitcoin or Chia uses up sources and equipment and has led to an excessive increase of resource prices and also the worldwide shortage of electronic chips used for mining.
LSP asset
The Lumenswap team released the Tokenomics and roadmap of LSP asset (Lumenswap native asset) a few days ago and, according to the article, they will hold an auction on their platform in the next few weeks. If you are interested in participating in it, follow them:
Website: https://lumenswap.io
Twitter: https://twitter.com/lumenswap
Medium: https://medium.com/lumenswap
Gitlab: https://gitlab.com/lumenswap.io
Docs: https://docs.lumenswap.io
Media Details -
Company name: Lumenswap
Mail: support@lumenswap.io
City: Moscow
Country - Russia