{"id":564121,"date":"2020-10-06T21:23:12","date_gmt":"2020-10-06T18:23:12","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=564121"},"modified":"2020-10-06T21:23:12","modified_gmt":"2020-10-06T18:23:12","slug":"zilliqa-zil-launches-its-first-dex-of-zilswap-as-a-gateway-into-defi","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/zilliqa-zil-launches-its-first-dex-of-zilswap-as-a-gateway-into-defi\/","title":{"rendered":"Zilliqa (ZIL) Launches its First DEX of ZilSwap as a Gateway into Defi"},"content":{"rendered":"<p><strong>Quick take:<\/strong><\/p>\n<ul>\n<li><strong>Zilliqa (ZIL) has launched its first decentralized exchange, ZilSwap<\/strong><\/li>\n<li><strong>ZilSwap was built by the team at Switcheo<\/strong><\/li>\n<li><strong>There is a plan to transition control of ZilSwap to a DAO, complete with a governance token<\/strong><\/li>\n<li><strong>ZilSwap is at the core of Zilliqa&#8217;s push into the DeFi space<\/strong><\/li>\n<\/ul>\n<p>The Zilliqa Community is currently celebrating the launch of the blockchain&#8217;s first decentralized exchange aptly named <a href=\"https:\/\/zilswap.io\/swap\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ZilSwap<\/a>. The ZilSwap DEX was built by the team at <a href=\"https:\/\/switcheo.network\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Switcheo<\/a> with the main goal of catapulting Zilliqa into the world of <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/defi\/\" target=\"_blank\" rel=\"noopener noreferrer\">Decentralized Finance<\/a>.<\/p>\n<p>The launch of ZilSwap was announced by the team at Switcheo via the following tweet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udde3 We have just launched \u2728 <a href=\"https:\/\/twitter.com\/hashtag\/Zilswap?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Zilswap<\/a> \u2728 &#8211; <a href=\"https:\/\/twitter.com\/zilliqa?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">@Zilliqa<\/a>&#39;s first <a href=\"https:\/\/twitter.com\/hashtag\/DEX?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#DEX<\/a> built by <a href=\"https:\/\/twitter.com\/hashtag\/Switcheo?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Switcheo<\/a> \ud83d\ude0e\u200d and we couldn&#39;t be more excited!<\/p>\n<p>\ud83d\udc49\ud83c\udffd Head over to our blog to learn more about Zilswap, and how you can start trading on the platform today! \u2705 <a href=\"https:\/\/t.co\/3ZVeYxrbOa\" rel=\"nofollow\">https:\/\/t.co\/3ZVeYxrbOa<\/a><\/p>\n<p>&mdash; Switcheo (@SwitcheoNetwork) <a href=\"https:\/\/twitter.com\/SwitcheoNetwork\/status\/1313011686450720768?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">October 5, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Plans to Transition Control of ZilSwap to a DAO<\/h2>\n<p>Just like <a href=\"https:\/\/en.ethereumworldnews.com\/uniswap-retakes-defi-top-spot-as-rival-platform-suffers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Uniswap<\/a>, ZilSwap will allow owners of Zilliqa based digital assets to trade seamlessly using a constant product automated market maker and a permissionless liquidity protocol.<\/p>\n<p>The team at Switcheo <a href=\"https:\/\/blog.switcheo.network\/presenting-zilswap-zilliqas-first-dex-built-by-switcheo\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">also provided<\/a> a roadmap for ZilSwap in which they pointed out that their core goal, is to eventually transition control of ZilSwap to a DAO controlled through a ZRC-2 governance token.<\/p>\n<blockquote><p>We\u2019ll also be launching a ZRC-2 governance token for Zilswap soon. Moving forward, Zilswap will transition control of Zilswap to a DAO controlled by ownership of the governance token. Parameters such as protocol fees will be under the purview of this DAO.<\/p>\n<p>Governance tokens will be issued to liquidity providers and users of the Zilswap platform &#8211; we\u2019ll be announcing full details regarding this soon!<\/p><\/blockquote>\n<h2>Zilliqa Stands to Benefit from the Launch and Use of ZilSwap<\/h2>\n<p>The world of DeFi has caught the crypto-verse by storm since early June and notable decentralized exchanges have gained popularity such as UniSwap, <a href=\"https:\/\/en.ethereumworldnews.com\/chef-nomi-transfers-control-of-sushiswap-to-ftx-crypto-exchange-ceo\/\" target=\"_blank\" rel=\"noopener noreferrer\">SushiSwap<\/a> and JustSwap.<\/p>\n<p>The launch and popularity of the aforementioned DEX&#8217;s has had a positive impact on the corresponding blockchains. In the case of Ethereum, usage of UniSwap and other DeFi protocols <a href=\"https:\/\/en.ethereumworldnews.com\/ethereums-eth-transaction-volume-grew-by-109-billion-in-q3-2020\/\" target=\"_blank\" rel=\"noopener noreferrer\">has resulted<\/a> in ETH transaction volume growing by $109 million in the third quarter of 2020. Similarly, the launch and usage of JustSwap resulted in a <a href=\"https:\/\/en.ethereumworldnews.com\/trons-trx-defi-transaction-volume-increased-by-2577-in-q3-2020\/\" target=\"_blank\" rel=\"noopener noreferrer\">2,577% increment<\/a> of transaction volume on the Tron network in Q3. The values of both ETH and TRX have also benefited positively from the increased network activity thanks to DeFi.<\/p>\n<p>Therefore, similar positive benefits will begin to emerge in the Zilliqa ecosystem as ZilSwap gains traction with the ZIL trading community.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick take: Zilliqa (ZIL) has launched its first decentralized exchange, ZilSwap ZilSwap was built by the team at Switcheo There is a plan to transition control of ZilSwap to a DAO, complete with a governance token ZilSwap is at the core of Zilliqa&#8217;s push into the DeFi space The Zilliqa Community is currently celebrating the launch of the blockchain&#8217;s first decentralized exchange aptly named ZilSwap. The ZilSwap DEX was built by the team at Switcheo with the main goal of [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":564125,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[108043,108120],"tags":[7092,108121,7575,1434,108180],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/564121"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=564121"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/564121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/564125"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=564121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=564121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=564121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}