Polkaswitch is Rebranding as Swing
Former Apple Execs Bringing Cross-Chain Liquidity to All Major Blockchains
SAN FRANCISCO, CA / ACCESSWIRE / October 14, 2021 / Decentralized multi-chain liquidity aggregation protocol Polkaswitch is rebranding as Swing to help realize the founders' mission of serving an even bigger global audience, and to solve one of the crypto industry's biggest challenges: moving assets between blockchains and executing cross-chain trades and swaps in a decentralized fashion.
Swing powers trading for thousands of popular cryptocurrencies. The rebranding is meant to enable the protocol to meet the next-level ambitions of Swing CEO and co-founder Viveik Vivekananthan, a former Apple software engineer, and his fellow co-founders from Amazon, IBM, and Oracle.
With a team whose mission stretches far beyond the Ethereum and Polkadot ecosystems, the new branding is reflective of the value proposition Swing offers to crypto users, and the exponential revenue growth the protocol can start earning in the immediate future if the project can offer its cross-chain liquidity capabilities across all major blockchains. Initial targets for Swing include Polygon, Binance Smart Chain, Avalanche, Arbitrum, Optimism, HECO, Near, Solana, Terra, Harmony, and Fantom.
Leveraging liquidity is easy in the world of cryptocurrency if you're only using a single blockchain. But the rapid pace of innovation means nobody knows which smart contract platforms, metaverses, DeFi projects, securities tokens, infrastructure plays, or NFT platforms will win in the long run. Projects solving problems across multiple blockchains are going to be ahead of the game in the future.
The entire crypto industry is trying to figure out how users can move crypto assets from one blockchain to another and execute cross-chain trades and swaps in a decentralized way. Swing is the solution to that.
The Ethereum blockchain is where most of the DeFi and NFT worlds live, but excessive smart contract transaction fees are a limiting factor that opens the door to potential blockchain projects overthrowing Ethereum as the DeFi leader. Now that Swing is moving into layer 2 chains like Arbitrum, Optimism, Aurora, and others, the value of Swing's cross-chain liquidity solution can become more diversified, robust, and valuable.
The ability to unlock liquidity across blockchains is an extremely valuable proposition, which is why some of the world's top venture capital chains took part in a $3 million fundraising round for Swing.
Media Contact:
Dan Spencer
Dan@energentmedia.net
SOURCE: Swing
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