(PRESS RELEASE – Los Angeles, California, February 28, 2023)
We are excited to partner with Hyperspace, Solana NFT’s leading-edge marketplace, to integrate MegaSwap, the intelligent cross-chain service for web3. The MegaSwap integration will provide faster onboarding and easier access to cross-chain liquidity for Ethereum and Solana NFT users.
This collaboration offers merchants and creators in hyperspace an unprecedented opportunity to instantly exchange assets between Ethereum, Solana and, soon, many other blockchains.
With a focus on increasing liquidity across multiple ecosystems, Hyperspace has established itself as one of the top NFT platforms on Solana by aggregating 17 different markets. As a new avenue to liquidity, MegaSwap offers Solana NFT creators on Hyperspace an additional avenue of revenue and reach. For users, this means easily joining Solana NFTs by trading their Ethereum without having to log in or deal with wrapped tokens.
Furthermore, MegaSwap offers a secure alternative to the traditional centralized exchange model. Instead of users storing their coins on an exchange, users can put them in their own self-custody wallets and transact on MegaSwap, avoiding the risk of crashes like we saw with FTX, BlockFi, Celsius, or Voyager. With MegaSwap, you never have to provide sensitive personal information.
Hyperspace is the first app to take advantage of MegaSwap’s permissionless affiliate program. Web3 applications like Hyperspace, which integrate MegaSwap into their interface, will benefit from an innovative new revenue sharing program. With a single line of code, apps can earn a percentage of all cross-chain exchanges and attract new users to their growing ecosystems.
DeSo founder Nader Al-Naji explains: “MegaSwap will soon make web3 applications in any ecosystem chain-agnostic with a single line of code that paves the way for interoperability and composition between different crypto applications. By installing MegaSwap, teams can easily onboard new users and boost liquidity to their applications instantly, solving a major problem for all blockchain developers today. Users will soon have unprecedented access to funds from any ecosystem without having to give up custody of their coins.”
While Hyperspace is the first official MegaSwap partnership, it won’t be the last: Several other teams have already reached out to integrate MegaSwap into their apps. DeSo is committed to creating a social layer for web3 and will look to add support for other blockchains like NEAR, Cardano, Dogecoin and more!
The launch of MegaSwap is another example of a recent string of successes for DeSo. They recently launched an innovative fundraising platform called Openfund that allows entrepreneurs to launch coin-backed tradable fundraising rounds through the world’s fastest order book exchange.
With the combination of Openfund and MegaSwap, founders and builders can easily fund projects, acquire new users and expand their reach with a complete set of powerful tools in the So ecosystem.
About Deso
DeSo is a new Layer 1 blockchain built from the ground up to decentralize social media and scale storage-intensive applications to billions of users. It raised $200 million and is backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winklevoss Capital, Pantera, and other blue chip funds.
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