Place/Date: - September 2nd, 2022 at 6:38 pm UTC · 2 min read
MetalSwap, a decentralized platform that allows hedging swaps on financial markets with the aim of providing coverage to those who work with commodities, announced that its much-awaited Hedging Swap Tool is now Live on Ethereum Main Chain, read all about it here! Team has also announced that a Swap Competition is coming very soon with exciting rewards, so keep an eye on their socials for that.
MetalSwap V1 Hedging Swap tool is live on the Ethereum MainNet with WBTC and ETH as commodities, to create financial Swaps with which users will be able to have insurance on the price volatility of a commodity in a specific direction.
The MetalSwap team has signaled that this will be the start of a variety of commodities, including metals, with Gold being the first metal asset to be made available on the platform soon along with a set of planned roadmap additions for the coming future.
MetalSwap is a decentralized multi-chain platform that enables Hedging Swap transactions through the use of AMM-style smart contracts that also incorporate the use of NFTs representing the liquidity locked by users in their participation in liquidity pools.
After three phases of incentivised TestNet Hedging Swap tool with incentives at each phase for users who interacted with MetalSwap, the project has now launched an industry-unique tool that seeks to capture a share of the commodity market worth thousands of millions of dollars.
The tool offers to minimize the costs charged on the operation of Hedging Swaps for trading due to the use of blockchain technology, offering a trustless platform without intermediaries available 24 hours a day, seven days a week without the need for bank coverage.
MetalSwap is a decentralized platform that allows Hedging Swaps on financial markets with the aim of providing coverage to those who work with commodities and an investment opportunity for those who contribute to increase the shared liquidity of the project.
Commodity Swaps are coming 2 DeFi. Decentralize your financial instruments using the Blockchain.
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