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By Switchly
A decentralized, cross-chain protocol for stablecoin bridging and exchange.
Switchly is a novel implementation of a cross-chain dex/bridge. Through our DeFi experience including developing integrations into THORChain and Maya Protocol, we identified other opportunities that will allow for innovation in this space and make the migration of assets between networks as well as decentralized trading more accessible to both users and developers.
For those familiar, this will follow the established validator model, though we do also intend to make use of smart contracts on supported networks where that is more beneficial, including Soroban. However, we will be differentiating ourselves in several ways, from how users and decentralized applications interact with the system and their user experience through to the economic model and even to the nature of fund custody.
The first iteration will allow users and developers to fluidly move from one USD pegged asset to another, with minimal fees, simple implementation, security, and a great user experience. Whether you're moving from USDT on ETH to USDC on Stellar or DAI on Polygon to PYUSD on Solana, this system will make that as frictionless and economical as can be.
This isn't just for users either; we want developers to open their applications to be more accessible and empower them to generate more revenue and make more of an impact for their users too. As an example, a USDC income-generating DeFi protocol built with Soroban on Stellar could use this to open doors to the billions held in liquidity across the stable-coin space.
$46.0K
Ash Francis
Sam
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