Pros Swap with Cross-chain Tech Opens New Era of Trading
In 2010, Laszlo, a developer, spent 10,000 BTC on two pizzas, a dramatic event that has become a story of today’s word of mouth and a historic start to the value of Bitcoin.
Looking back over the past decade, from Bitcoin trading, Dark Web trading, and today’s digital asset exchange, it represents two different development stages of digital asset exchange.The first stage is OTC exchange and extensive trading mainly represented by Bitcoin, and then it develops into centralized digital exchange trading (Such as Mt. Gox), which can be called the V1.0 era. The second stage is the era of decentralized exchanges (DEX) based on Ethereum smart contracts (Such as Uniswap), which we can call it the V2.0 era.
Undeniably, these two eras have contributed to the development of Bitcoin and the rapid growth of the blockchain industry, but at the same time, there are also many drawbacks. For example, in the era of V1.0, the exchange closing down and running away, while in the era of 2.0, the high handling fee, high delay and the shortcoming of singleness.
With the rise of cross-chain technology, these shortcomings are increasingly exposed. Based on cross-chain technology, it is increasingly urgent to realize cross-chain asset trading and data exchange. The optimal solution to realize cross-chain trading is to launch decentralized cross-chain exchanges.
Pros Swap pioneered the decentralized cross-chain exchange, heading in the V3.0 era of trading.
Pros Swap is the first cross-chain DEX developed on Pros Chain. It aims to be an easy-to-use, efficient, and connected cross-chain trading product.
Pros Chain is a public chain that interconnects with Polkadot, which most of you are familiar with. The Polkadot network is designed to be a scalable platform for blockchain development, deployment, and interaction testing, with three core components for cross-chain interaction: Relay chains, Parallel chains, and Cross-chain transition Bridges. With the help of Polkadot’s technology, Pros Swap also has the powerful cross-chain genes of Polkadot.
Pros Swap’s cross-chain approach has two core points:
Point 1: Build a fully functional DEX framework based on Pros Chain for fast asset trading, one-click liquidity provision, and significantly reduced fees. The improvement of basic functions of DEX will start from the current shortcomings of Uniswap and change slow speed and poor experience of DEX products in the past.
Point 2: Access the liquidity of similar assets between hundreds of parallel chains through the transfer bridge agreement, so as to realize the liquidity sharing of digital assets across the whole network, and provide users with low slip point, fast transaction and other services.
With these two points in mind, Pros Swap’s cross-chain DEX is a prototype that allows users to trade and swap assets, including BTC, ETH, LTC, and other digital assets.
In addition to technological innovation, Pros Swap has also worked hard on ecological management.
After the launch of Pros Swap, the platform token PSC will be issued on the public chain. This token will realize its value on Pros Swap, Pros Chain, Polkadot Ecosystem, and other platforms.
The value of PSC tokens is reflected in the following three aspects:
Ecological values. PSC can be used for community governance of Pros Swap, where a developer or user is required to pledge a certain number of PSC, which are automatically unlocked once the proposal is completed. If the proposal fails, it will be unlocked when it expires. If the proposal is successful, it will be unlocked along with the reward after the proposal is completed. In addition to using projects as collateral, PSC can also be used to offset fees, substantially reducing on-chain transaction costs in the form of discounts, mining incentives for projects, and so on.
Transaction value. Pros Swap will be available as soon as the PSC is issued, and users will be free to trade it. At the same time, you can also participate in liquidity mining on top of the Pros Swap, such as PSC/USD and PSC/DOT (the two highest-yielding trading pairs).
Prospect value. The team plans to spend the majority of the platform’s transaction fees on repurchasing and burning PSC. Under the premise of Quantity and Demand, it is bound to get users to buy in aggressively.
Digital asset trading inevitably enters the era of cross-chain, and as cross-chain technology develops and ecology matures, cross-chain DEX will blossom, and by then the preconceived Pros Swap has long since grown into a unicorn.