AshSwap, the first Asian-based Elrond project, to be launched on….

Among Southeast Asian countries, Vietnam has been ranked first in cryptocurrency adoption for two years in a row with more than 21% of consumers having purchasing power in crypto. Blockchain-based gaming and infrastructure projects lead the development and adoption across the country, predicting a new stage for Vietnam’s economy. 

Until now, the Elrond blockchain has not gained popularity in Southeast Asia. But this situation can change with the launch of AshSwap, the first stable-swap on Elrond. Based in Vietnam, AshSwap is strategically located to onboard more community members to the ecosystem and become a leading force behind the blockchain’s growth. 

Following its recent $2.5M investment round, AshSwap is set to launch on Maiar Launchpad, a platform for new technologies and unique products built in the Elrond ecosystem. It provides direct support and feedback, connecting promising projects to a passionate community, partners, and investors. According to Cryptorank, Maiar Launchpad comes 4th by current ROI of the projects on the platform, and AshSwap is about to be among them. 

Looking into AshSwap

AshSwap is the first decentralized Stable-Swap on the Elrond blockchain which allows users to trade between assets with similar prices. It addresses one of the main issues of the ecosystem offering exclusive functionality no other project on Elrond does. With the Stable-swap invariant algorithm, AshSwap reduces the fees and costs of exchange without losing sight of usability and UX.

Thanks to their innovative solution called Liquid Liquidity Provision (LLP), AshSwap allows users to exchange their liquidity instead of giving it up. Using LP tokens as collateral, they can mint a new type of stablecoin – AOC. This process results in the same amount of stablecoin, better yields, and deeper liquidity to the DEX.

In addition to minimizing impermanent loss, AshSwap enables other projects to build on top of the protocol. The project externalizes their farming positions which adds interoperability to the DEX together with their voting escrow mechanism. 

AshSwap also addresses one of the main issues when it comes to digital finance – usability and user experience. They prioritize a smooth user journey and attract more prospective users to DeFI by lowering the bar for entering the market with a clear interface. 

With AshSwap launching on Maiar Launchpad, the project is set to disrupt the development of the DeFi infrastructure. Today AshSwap introduces new solutions to long-lasting issues with stablecoins, while also providing yields and investment opportunities on Elrond. In the future, the team commits to serve a larger user base by further developing their platform and offering more trading options. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.