As the crypto industry continues to evolve, the DeFi revolution has caught everyones attention due to its potential to offer to empower financial instruments for all. O3 Swap, the latest project by one of the popular crypto wallet solutions providers O3 Labs takes DeFi to the next level with its cross-chain aggregation protocol.
So, Whats O3 Swap?
O3 Swap is the latest feature to be added to the O3 wallet that enables users to exchange or swap a variety of cryptocurrencies from within the application. Enabled by the proprietary cross-chain protocol, O3 Swap allows users to swap assets native to different supported blockchains like Ethereum, Binance Smart Chain (BSC), NEO, Huobi ECO Chain (HECO), Polkadot and other layer2 protocols without worrying about compatibility issues.
The governing O3 Swap protocol is composed of two separate modules, O3 aggregator and cross-chain pool. While the latter, as its name indicates aggregates liquidity from various popular DEXs, the cross-chain pool powered by PolyNetwork enables users to seamlessly exchange assets between different blockchain protocols. The entire process is carried out on the settlement layer, with the help of different market liquidity mechanisms like AMM, Order Books, Money Market and more.
The combination of a versatile O3 Swap protocol and user-friendly O3 Wallet interface provides users with a simple yet secure, one-stop-shop for most of their exchange and trading needs. Apart from liquidity aggregation across leading DEXs O3 Swap also compares the prevailing rates on different platforms to provide its users with the ability to exchange assets at the lowest rate through the most efficient trading route. This feature contributes towards a reduction in trading associated time as well as transaction costs.
How to Use O3 Swap?
Using O3 Swap is not rocket science. In fact, its remarkably simple and the platform has released step-by-step tutorial to make it much easier for the community. Users will have to visit the O3 Swap page on the website and follow the instructions to connect their wallets. Depending on the assets one wishes to swap, they can either use O3 Wallet or NeoLine for Neo and Metamask for ETH, BSC and HECO cross-chain swap.
With the wallet connected, users can start the swap process by choosing ...
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