AshSwap, the first-of-its-kind Stable-Swap on Elrond, raises $2.5M in its seed round

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Elrond has positioned itself as a highly scalable, fast and secure blockchain platform for distributed apps, enterprise use cases, and the new Internet economy. Set to disrupt the future of DeFi, the network, however, lacks a core component – a stable-swap decentralized exchange with trading options for stable assets. Introducing a reliable stable-swap exchange is essential for Elrond to attract more users worldwide and develop the DeFi ecosystem. That’s where AshSwap comes in.

Ahead of the curve with AshSwap

AshSwap is the first decentralized exchange on Elrond that helps users trade stablecoins cost-effectively to maximize capital utilization and earn more yields. Operating on small fees and low slippage, AshSwap builds on Elrond — the blockchain with a vision to attract 1B users and make DeFi accessible for all. As of today, AshSwap is the exclusive solution for stablecoins exchange on the ecosystem and has no alternatives, proving to be a pioneer in the field.

Just this week, AshSwap closed their $2.5M investment round led by Elrond and other investors, including Morningstar Ventures, Istari Vision, Skynet EGLD Capital, and SL2 Capital. The team plans to allocate the newly raised funds to product development, security audit, marketing, and ecosystem growth to stay ahead of the competition.

A closer look at AshSwap

One of the novel solutions of AshSwap is Liquid Liquidity Provision (LLP), where users can mint their native stablecoin AOC by using their LP Tokens and Farm Tokens as collateral. In addition to enabling users to collect trading fees and farm rewards, it also allows them to maximize capital efficiency.

The AshSwap team also prioritizes their platform’s UX/UI throughout the development process, which enables new users and crypto pros alike to enjoy a user-friendly interface with easy access.

The future of DeFi is unfolding as we speak, yet one thing is certain: AshSwap’s decentralized exchange is set to help the Elrond ecosystem grow into one of the key players in the future of DeFi. Currently, it is the sole solution to offer equivalent slippage and less liquidity for the same price. Following the investment round, AshSwap aims to disrupt the DeFi status quo, becoming a reliable choice for more and more Elrond users.

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