For quite some time now, there have been rumors of Expanse getting its own version of Uniswap. Known as ExpSwap, the platform will offer some interesting features and benefits to explore. The launch of this project is expected to occur in the near future.
The Purpose of ExpSwap
Although Uniswap is the king of DExes today it has become apparent many people want to fork the project. That is often a good thing, as forking existing code can lead to better products and services. For the Expanse team, building a better Uniswap is somewhat of a mission. The DeFi team is confident they can make a meaningful impact by exploring this option.
At its core, ExpSwap will sue the Automated Liquidity Protocol, similar to Uniswap’s. Introducing automated liquidity provision on the Expanse network will certainly be an interesting turn of events. It is then up to developers and community members to take advantage of the new tools at their disposal.
Through ExpSwap, it will be possible to exchange ERC20 tokens on Expanse. There will be no need for trusted middlemen. Instead, users will benefit from faster and more efficient trading. One of the tools under development is called Flash Swaps, where users can withdraw ERC20 reserves and execute arbitrary logic.
Prices will be determined by the amount of tokens in every pool. Smart contracts powering ExpSwap will monitor these balances. When a trade occurs, a certain amount of tokens will be removed from the pool for an amount of other tokens.
DeFi on Expanse is Growing
With all of the Uniswap contracts now live on the mainnet, a launch of this product is coming ever closer. There is still some work to be done, though, as lingering issues remain. Connecting with the Expanse main node has been challenging, but the ExpSwap can address these issues in the coming weeks. Testing is currently underway, further confirming the imminent launch.
It is also worth mentioning DeFi on Expanse will go well beyond ExpSwap. Another project is being developed by a completely different team. It seems this will be a fork of SushISwap, which is a fork of Uniswap itself. There are many different options to explore if and when both projects come to fruition.
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