DEX EmiSwap, the first community-governed DEX, launches token transfer across blockchains today after an integration with Movr to bring multiple cross-chain bridges under one roof, Invezz learned from a press release. Users of the exchange, which offers liquidity providers some of the highest rewards, will be able to transfer tokens across Ethereum (ETH/USD), Binance Smart Chain (BNB/USD), Polygon (MATIC/USD), Arbitrum, and other blockchains.
Remedying lack of interoperability
Token transfer will become possible at a higher speed and with lower fees, thereby solving the issue of lack of interoperability. This issue has caused serious problems because developers are tied down to a single blockchain, unable to benefit from others. The solution is to build bridges to allow a token from one network to be used on another. Bridges facilitate app decentralization by removing the limitations imposed by their home network. Movr aggregates different cross-chain bridges to determine the best bridge-token pair and to carry out all the other steps required to move assets with one click. This has emerged as the most efficient route.
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Grigory Rybalchenko, Founder and CEO of EmiSwap, said:
“Beyond allowing EmiSwap users to transfer their tokens across blockchains networks like Ethereum, Polygon, Arbitrum, Binance Smart Chain, and xDAI at a higher speed and lower costs, the DEX’s integration with Movr will also open up new markets for EmiSwap and help increase liquidity and support. Fund Movr’s Software Development Kit (SDK) will also serve as a standard gateway for all native message bridges, eliminating the requirement for developers to build separate smart contracts for each Layer 2 native message bridge.”
After the integration, EmiSwap has also become able to grow on the basis of the Fund Movr SDK to make cross-chain swaps for users possible. It integrates Fund Movr, with which users can transact with any token and from any L2 with a single click.
EmiSwap offers full compensation for Ethereum’s transaction fees in native tokens. $ESW token holders in the decentralized autonomous organization (DAO) vote to govern the developments of the platform, which rewards participants based on their trade volume daily.
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