• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
IOTA MIOTA IOTAUSDT
Nexo Logo

How This IOTA DEX Seeks to Offer a “Unique” DeFi Experience

Reynaldo Marquez by Reynaldo Marquez
12 months ago
in DeFi
Reading Time: 2 mins read
Advertisement

IOTA has undergone one of its most important milestones since its inception, on April 29th the Chrysalis Network went live. Improvements in efficiency, security, and scalability were deployed. While developers work on its next major event, the Coordicide, the IOTA-based ecosystem keeps growing.

As part of Chrysalis, new dApps have made their way into the network. Amongst them is TangleSwap, a decentralized exchange (DEX), that seeks to bring DeFi into IOTA and combine it with the network’s most unique features.

The team behind this protocol has been involved with IOTA since 2017. For years, they have been planning to build on top of this network and contribute to its expansion. Via TangleSwap’s official Twitter handle, they said:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

(…) we knew that once the time was right, we would like to develop and provide the best tools so that the ecosystem and the community grew in a fast, secure and strong manner.

In the coming months, this team has promised IOTA users, hodlers, buidlers, the possibility to trade and swap tokens at low costs. In addition, this DEX will operate with fees close to “free as possible”, a feature not available in competitors such as Uniswap, SushiSwap, and others.

Ethereum’s network still hosts some of the biggest DeFi protocols with billions in Total Value Locked (TVL). However, high fees and congestion made room for competitors on other blockchains to thrive.

TangleSwap, as its name suggest, will leverage IOTA’s Tangle technology. This will allow users to benefit from automated trades and more control over their operations without the limitations set by high transactions cost.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

This means you will be able to trade as many times as you want, with virtually no restrictions. A feature that seems especially attractive to those seeking to automatize their operations but are being held back by insurmountable gas fees.

IOTA DEX To Enable Free NFTs Mints With Colored Coins

In addition to DeFi, the crypto space has seen a surge in interest in other sectors, such as blockchain-based games and Non-Fungible Tokens (NFTs). TangleSwap plans to use IOTA’s Colored Coins to facilitate the minting and transfer process of these assets.

The Colored Coins were a series of methods to managed real-world assets first proposed as Bitcoin update. In the future, TangleSwap will use these methods with tokens that will represent other cryptocurrencies, company shares, and other assets. Thus, increasing the applications for NFTs.

The developers of this DEX have mid to long-term plans that contain the aforementioned use cases. Their ultimate goal is to create an “entire financial ecosystem on one platform”, IOTA. Thus, they will add a native stablecoin, implement a lending platform, liquidity provision, and more.

All of this turbo-powered by the advantages brought by the Tangle over traditional blockchain technology. (…) We will witness a transformation in the way DeFi, trading and holding work, fueled by all the possibilities enabled by the IOTA ecosystem.

At the time of writing, IOTA trades at $0,78 and has followed the general sentiment in the market with a 5.3% loss in the daily chart.

IOTA MIOTA MIOTAUSDT
IOTA follows the trend to the downside in the 24-hour chart. Source: IOTAUSDT Tradingview
Tags: IOTAIOTAUSDTMIOTA
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Reynaldo Marquez

Reynaldo Marquez

Related Posts

Terra Luna

Why Terra’s Anchor Protocol Changed Earn Rate To 18% APY

2 months ago
Vitalik Buterin Polkadot Electricity Consumption Is Less Than Solana, Bitcoin, And Ethereum

Did Vitalik Buterin Sign Up For This Subsocial Web3 Feature?

2 months ago
THORChain RUNE RUNEUSDT

Can RUNE Sustain Its 20% Rally?, Why This Analyst Doubts It

3 months ago
Terra LUNA LUNAUSDT

LUNA Moves On Its Own Beat, Bulls Aim For New ATH

3 months ago
Uniswap UNI

Uniswap Launches Product In The Midst Of Lawsuit, UNI Reacts To The Downside

3 months ago
NEAR NEARUSDT Terra

Terra Users Heads Up, Why NEAR May Launch Native Stablecoin With A 20% APR

3 months ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

GBEX: The exchange token of a “new kind”.

July 4, 2022

Web3 Delight Lagos – Breaking barriers to pave the way for the digital future

July 4, 2022

LBank Exchange Will List DOTORI (DTR) on July 4, 2022

July 4, 2022

WorldPF (WDPF) Is Now Available for Trading on LBank Exchange

July 4, 2022

MetaBitcoin (MBTC) attracts investment from Dubai’s first royal crypto fund, Alawad Fund

July 4, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.