Introducing Polkaswitch

This post was originally published on Polkaswitch

A decentralized, multi-chain liquidity protocol powering the future of global finance and crypto asset exchange. Built on Polkadot.

Polkaswitch

Jan 15 · 4 min read

The blockchain, cryptocurrency and decentralized finance space reached new heights in 2020 with a great deal of projects launching and capturing vast amounts of capital flowing in. At its heart, decentralized finance isn’t powered by triple digit yields or the proliferation of numerous trading, lending and borrowing applications. It’s powered by the promise of decentralization — a world where control is returned back to the user (from institutions).

Everyone deserves access to financial services that are governed by fair operating principles. Decentralized finance is about creating an experience which is fully permission-less using technology that can’t be found in centralized institutions. The goal is to provide access to a global audience with no single source of failure.

The rise of DeFi has brought on a new wave of utility, use cases, and tokens. This has led to the decentralized exchange space growing 20,000% in the last year alone with over $6B total value locked (TVL).

Source: defipulse.com

Currently, the Ethereum ecosystem leads the decentralized finance space with lending, borrowing, and asset exchange protocols. This explosive growth has rippled across the network and has pushed Ethereum to its limits while accelerating the pace of innovation and experimentation.

However, strong and purpose-built blockchains outside of Ethereum remain heavily underutilized and are dominated by the size of the overall cryptocurrency market space.

Cross-chain communication with ecosystems like Polkadot have emerged as a major challenge and an opportunity to unleash massive liquidity and asset variety into the decentralized finance space.

biswap

Enter Polkaswitch

Polkaswitch is a decentralized, non-custodial multi-chain liquidity protocol built for the financial future. We enable Metamask traders to exchange Polkadot, Ethereum, and ERC20 crypto assets in one place from anywhere in the world. Polkaswitch is designed from the ground up to power cross-chain communication with multiple blockchains to unlock future liquidity. Our first product and use case is to enable cross-chain liquidity for crypto traders.

We’re a nimble team from Silicon Valley reigning from top technology companies and we’re on a mission to enable frictionless liquidity for all crypto assets.

Polkaswitch User Interface (prototype)

How It works

Polkaswitch is powered by intelligent algorithms that identify the best routes to fulfill trade orders across the Polkadot and Ethereum ecosystems. Using smart contracts, relayers, and bridges, trade orders are prioritized by available liquidity across all top Ethereum and Polkadot DEXes like Uniswap, Kyber, Sushiswap, Bancor, Oasis, and Polkadot-based DEXes. Polkaswitch will be working in collaboration and integrating our protocol with Moonbeam (a smart contract parachain on Polkadot) to deploy contracts and manage communication cross-chain. Moonbeams platform will enable Polkaswitch to be a first mover by deploying early to Polkadot’s rapidly expanding parachain ecosystem.

Product Roadmap

Our product roadmap for the upcoming 2021 year will consist of a testnet launch, mainnet launch, beta user onboarding, Ethereum bridge integration, contract security audits and finally a product launch.

Q1 2021:

  • Polkaswitch Testnet
  • Frontend Development and UX testing
  • Token Generation Event

Q2/Q3 2021:

  • Contract Security Audits
  • Polkaswitch Mainnet
  • User on-boarding and beta testing
  • Ethereum Bridge Integration
  • Cross-chain Security Audits
  • Product Launch 🎉

Please note: Roadmap schedules are bound to Polkadot and Moonbeam testnet/mainnet launch timelines and may change accordingly.

The Future is DeFi.

We’re just getting started and if you would like to join us as we build the future of global finance and crypto asset exchange please visit our website and follow us on Telegram and Twitter. Over the coming year we will be building, launching and growing a community of believers in the decentralized finance world!

Sincerely,

The Polkaswitch Team

Leave a Comment