Today, Stackswap takes Bitcoin DeFi to the next level with the launch of the very first decentralized exchange (DEX) to settle transactions on the Bitcoin network via Stacks. Stackswap stitches together some of the existing DeFi tools within the Stacks network and enables users to engage in swaps, liquidity mining, token creation, and yield earning opportunities. Stackswap also has a team of PhDs with years of experience in Artificial General Intelligence and time-series forecasting employing state-of-the-art algorithms to enhance performance.
Stackswap, who recently announced their $1.3 milion funding round, uses the power of the Stacks blockchain, allowing for Bitcoin-powered smart contracts and innovation on Bitcoin. Users can engage in DeFi on Bitcoin through yield earning opportunities including Stacking which allows Stacks token holders to earn bitcoin yield.
Stackswap also offers several other trading tools including arbitrage, market forecasting, and aggregate opportunities from other DEXs on other blockchains. With the successful launch of Arkadiko, a self-repaying loan platform built on Stacks, users of Arkadiko can use Stackswap to swap Arkadiko tokens or Arkadiko’s stablecoin, USDA for additional earning opportunities.
“There are a few vital pieces missing within the Stacks ecosystem when it comes to DeFi and Stackswap acts as the key that unlocks full DeFi potential for Bitcoin. I worked with my team to create something that would support the growing demand for DeFi tools on Bitcoin and we decided that a full service DEX would have the strongest impact on the community,” said Stackswap CEO Sungmin Aum. “With our mainnet out, we are already starting to see new token listings on Stackswap and a group of people who are very excited to start liquidity mining.”
Users looking to build a project on the Stacks protocol can also use the Stackswap token Launchpad to create new tokens or NFT projects that inherit the security properties of Bitcoin. Projects that have issued tokens through the Launchpad are automatically submitted for consideration to offline partner accelerators and funds such as the Stacks Accelerator.
“As one of the first graduates of the Stacks Accelerator, Stackswap has created living proof that DeFi on Bitcoin is possible. With the addition of a DEX to our growing roster of DeFi tools, I think we are going to see a flurry of trading activity and more opportunities where people can create wealth through Bitcoin yield as an individual but also as a community,” said Trevor Owens, the Managing Partner at Stacks Accelerator, a mentorship program for startups building on Stacks.
By launching in Korea, one of the largest Stacks communities and most knowledgeable DeFi demographics, Stackswap is primed to tap into an audience that is more than ready to use Stacks and Bitcoin DeFi tools to the fullest. To learn more about Stackswap please visit https://www.stackswap.org/home.
About Stackswap
Stackswap is a decentralized exchange (DEX) and launchpad on Bitcoin. Created using the Stacks blockchain, Stackswap enables users to launch tokens and trade them quickly and easily, settling on the Bitcoin network.
About Stacks
Secure smart contracts and apps for Bitcoin. The Stacks ecosystem is a collection of independent entities, developers, and community members working to build a user-owned internet on Bitcoin. The Stacks 2.0 blockchain extends the design of Bitcoin to enable secure apps and predictable Clarity smart contracts without modifying Bitcoin itself, opening innovation on the network for the first time. The Stacks cryptocurrency (STX) is used as fuel for networking activity and contract execution and can be locked by STX holders via ‘Stacking’ to earn Bitcoin (BTC) rewards for supporting blockchain consensus. Stacks cryptocurrency was distributed to the general public through the first-ever SEC qualified token offering in US history.