We’re excited to announce the launch of Zilswap, a decentralized exchange built by Switcheo.  

What exactly is Zilswap?

Zilswap is a fully on-chain, decentralized exchange running on Zilliqa, a high-performance, scalable public blockchain platform based in Singapore.

As the newest addition to the Zilliqa’s ecosystem, Zilswap will be at the core of Zilliqa's push into the decentralized finance (DeFi) space by allowing users to trade digital assets on the Zilliqa blockchain for the first time.

Built from the ground up by Switcheo developers, Zilswap uses a constant product automated market maker on top of a permissionless liquidity protocol, similar to Uniswap. Users can trade ZIL or ZRC tokens directly on the Zilliqa blockchain from their wallets, or add tokens they are holding to a liquidity pool to passively earn as market makers.

Our roadmap

The platform will launch with ZIL-XSGD as the first token pool, allowing users to enter or exit ZIL through the Singapore-Dollar (SGD) backed stablecoin, XSGD, launched by Xfers today.

Users who hold ZIL and XSGD may contribute to liquidity pools on Zilswap to earn from the fees of each trade. Users without XSGD may convert SGD to XSGD at a 1:1 rate through the Xfers platform as a verified Xfers user here.

We’ll 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. Governance tokens will be issued to liquidity providers and users of the Zilswap platform - we’ll be announcing full details regarding this soon!

Finally, Switcheo will also be integrating Switcheo TradeHub with Zilliqa next, leveraging liquidity pooled into Zilswap - stay tuned!

Learn more about XSGD on Xfers’ Medium post here.

About Zilliqa

Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications. Developed through academic research and helmed by a team of experienced scientists, engineers, venture creators and leaders in the financial services, Zilliqa addresses limitations in scalability and security, enabling real-world usability across a variety of industries, including finance, digital advertising, and gaming. In 2019, Zilliqa became the first public blockchain platform to be built on sharded architecture, with smart contracts written in the platform’s secure-by-design programming language, Scilla. For more information, visit: zilliqa.com.


About Switcheo

Switcheo builds platforms that break new ground. We bring you finance without limits, for lives without limits. Whether you’re a battle-weary trader or are just making your first purchase, there’s nothing cryptic about crypto on Switcheo. Leading the pack with multiple world firsts, your time spent with us will be a worthwhile investment.

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