OneSwap Deployed on CSC, Bringing Win-win Cooperation in Ecosystem Construction
On July 13, 2021, OneSwap was officially deployed on CoinEx Smart Chain (CSC) as the first DeFi project on the chain. Emerging from the battle of decentralized exchanges (DEX) in 2020, OneSwap has not only solved the high gas fee, a headache for users on Ethereum but is the first decentralized exchange to launch an on-chain order book on Ethereum as well as the first project that has passed the audit of three institutions at the same time.
OneSwap that redefines DEX
OneSwap is a fully decentralized transaction protocol based on smart contracts. It does not require permission to list tokens, supports automated market-making (AMM) and the order book, and improves user interaction through the built-in OneSwap Wallet that provides a one-stop transaction experience.
Compared with other decentralized transaction protocols, OneSwap introduces an on-chain order book model based on AMM. The order book allows users to trade at an expected price through limit orders. They can initiate a market order or a limit order, set buy and sell orders according to the target price, and have them automatically executed. Such a secure, transparent model greatly facilitates investors to carry out their investment strategies. The integration of AMM and the order book offers users the limit order they’re familiar with while enhancing the liquidity of digital assets at the same time.
As a one-stop trading service platform on the universal chain, OneSwap has been deployed on the ETH, TRX, and BNB. Now it has joined hands with CSC, and the win-win cooperation will be a type of kindling that sparks innovations.
A better ecosystem on CSC that matters
The Ethereum community is the largest gathering place of DeFi developers for the time being, but the congestion, high gas, and an ecosystem that is increasingly difficult for development have also discouraged both developers and ordinary users in everyday interaction.
CSC is fully compatible with EVM and also smart contracts on ETH, BSC, and HECO. In simple words, almost all DApps, ecosystem components, and tools on Ethereum can be easily migrated to CSC, which significantly reduces development costs of projects and has accelerated the deployment of OneSwap on CSC.
To avoid congestion like on Ethereum, CSC adopts PoS as the underlying consensus mechanism, combined with PoA for block generation. It supports up to 101 validators and allows everyone to be a validator by staking without permission. Such a consensus mechanism guarantees high efficiency of transaction processing on the chain and makes CSC much more scalable than its mainstream counterparts. In this way, CSC creates an efficient infrastructure for the DeFi protocol and a healthy ecosystem where OneSwap can run smoothly.
CSC gives many developers hope. Its $10 million support plan for premium DApps even accelerates the construction of DeFi systems, and provides emerging developers with infrastructure guidance, liquidity, and technical development rewards, making them more focused on development and innovation. All these have caught OneSwap’s fancy. In addition, CSC improves efficiency, reduces costs of DApp deployment, and empowers DApps in promotion, traffic, and resources. The high TPS, negligible transaction fees, versatile development tools, and infrastructure on CSC make for a user-friendly environment. We have every reason to believe the DeFi market led by CSC will thrive soon.
OneSwap deployed on CSC to jointly create a win-win ecosystem
Centering on user experience, OneSwap enables intuitive and simple operation and slashes the gas, both of which coincide with CSC’s operation philosophy. CSC aims to create an efficient, secure decentralized on-chain ecosystem. It reduces project development costs via compatibility with mainstream public chains, encourages all developers with a support plan, and offers users an efficient, affordable on-chain experience. OneSwap comes as an example project in the startup phase of the CSC ecosystem and will attract more outstanding developers and users to join the effort.
Such an open ecosystem as CSC is inherently attractive to promising developers and innovative projects in their infancy, giving CSC the first-mover advantage to discover and support good developers and projects. CSC has prepared abundant supporting resources: the $10 million support plan, for example, gives incentives of as much as $100,000 to promising developers and projects, and the CoinEx ecosystem also offers all-around support including R&D funds, technical exchange, fast listing channels, and media publicity within the ecosystem. All these efforts are to build a win-win ecosystem. Projects passing the security audit may even obtain liquidity funds from CoinEx.
CSC is open to all developers and beginners, and its compatibility makes it the perfect development environment for all projects. It has long committed itself to the diversification of ecological projects which, as it believes, will inject greater vitality into the ecosystem.