Energi launches decentralized exchange Energiswap, creating a native DeFi product suite

Author: Energi

Compiled by: ChainCatcher

Our new decentralized exchange, Energiswap, has launched on the Energi testnet. This marks an important step towards establishing Energi DeFi—our native decentralized finance (DeFi) product suite built within the Energi ecosystem. Energiswap is based on the robust Uniswap protocol, leveraging the full capabilities of the Energi blockchain to provide an unparalleled decentralized exchange in terms of fees, stability, and security.

What is Energiswap?

Energiswap is a decentralized trading and cryptocurrency exchange protocol, and it is the first in the DeFi product suite built on the Energi blockchain. This includes several upcoming DeFi projects, such as Energi Synthetic Assets. Once fully launched, these will help support our long-term goal of becoming a leader in DeFi products.

While there are several existing decentralized exchanges, we have identified key areas where we can provide industry-leading improvements with Energiswap. With the power of the Energi blockchain supporting decentralized exchanges, we believe we can enhance security, trading costs, and user experience beyond all existing competitors. Below, let's take a look at what makes Energiswap stand out.

Our third-generation blockchain has been extensively optimized for DeFi. We have implemented a second-layer protocol that can provide cost-effective trading as we scale. Combined with our enhanced Ethereum compatibility, Energiswap is one of the cheapest and most stable decentralized exchanges on the market.

As part of the larger Energi ecosystem, Energiswap directly benefits from the expertise of our dedicated security team, the Energi Bureau of Investigation (EBI). Coupled with the on-chain governance provided by our masternode network, Energi has reduced on-chain crime by over 90%.

Energiswap has advantages that are difficult for other platforms in the DeFi space to match. One of the things we are most proud of at Energi is our world-class community support team. Like all products in the Energi ecosystem, Energiswap will also provide all users with 24/7 responsive, knowledgeable support.

Because it is built on the Energi blockchain, Energiswap is governed by our unique decentralized governance system. This means that masternode owners on the Energi blockchain can propose and vote on the next steps for Energiswap, ensuring that it is always aligned with the interests of the users who invest the most in our ecosystem.

Like the protocol it is based on, Energiswap serves as a decentralized exchange for swapping any ERC20 compatible token with any other ERC20 compatible token. Energiswap uses a constant product formula to manage liquidity pools for token pairs, allowing them to trade. This eliminates the need for buyers and sellers to create demand, locking trading pairs into price matches determined by available liquidity, enabling tokens to be easily exchanged directly with each other.

The system also helps address many liquidity issues faced by decentralized exchanges. In addition to swapping tokens, users can provide liquidity to token pools by locking equal amounts of NRG and tokens. As an incentive, liquidity providers receive a share of the fees generated from trades. This ensures that there is always sufficient liquidity in the market.

We have launched Energiswap on the testnet, offering a limited selection of tokens for testing: eDAI, eBTC, eETH, and wrapped NRG. eDAI is a synthetic version of the DAI stablecoin, maintaining a value around $1.00. eBTC and eETH are synthetic versions of BTC and ETH on the Energi blockchain.

After the public release of Energiswap, these four tokens will be available for immediate trading. However, we will actively expand the list of tradable assets shortly after the launch of Energiswap. This will include additional cryptocurrencies and various other financial instruments. The goal is to keep users within the Energi ecosystem while trading a variety of different assets. Users will also be able to exchange NRG for wrapped coins at a much lower cost than existing decentralized exchanges.

To set up testing for Energiswap, simply visit our DeFi support page. In the Energiswap section, you will find all the information needed to set up Meta Mask for the Energi testnet, as well as instructions on how to use Energiswap.

Before testing Energiswap, you will also need some testnet NRG (tNRG). You can easily request some using the live chat feature on the DeFi support page. Just click on the help widget in the bottom right corner and select "Testnet NRG (tNRG) Request Form" from the list. Once you provide us with the necessary information, we will send you some tNRG for testing as soon as possible.

We believe that DeFi will be a major driver of widespread adoption of cryptocurrency and blockchain technology. That is why we have made it a core part of Energi's long-term strategy.

Energiswap is our new decentralized exchange and a logical first step towards our goal of building a thriving DeFi market. Combined with the modified Uniswap protocol and the powerful capabilities of the Energi blockchain, it will provide an unparalleled decentralized trading experience in the field.