ParaSwap opens up to the Avalanche blockchain
French project led by Mounir Benchemled, the DEX ParaSwap aggregator will soon be exported to the Avalanche blockchain (AVAX). Already supporting Ethereum (ETH), Polygon (MATIC) and Binance Smart Chain (BSC), ParaSwap is an ally of choice for users of these blockchains wishing to carry out token swaps.
Indeed, ParaSwap aggregates decentralized exchange platforms on a single interface in order to optimize the transactions of its users. In addition to finding the path to a transaction that will garner the least fees, ParaSwap also selects the most advantageous rate for the user.
To continue its expansion, ParaSwap officially joins the Avalanche Rush program, which aims to attract decentralized finance (DeFi) applications to the Avalanche blockchain.
“We are excited to bring our DEX aggregation technology to the growing Avalanche community, providing members with the best pricing options across the platform’s DeFi applications,” said Mounir Benchemled, Founder of ParaSwap. “Now is a pivotal moment for DeFi, and we can’t wait to see what we will accomplish as a community. “
The integration of Avalanche by ParaSwap will materialize by analyzing the prices of the main DEXs on this blockchain, namely Pangolin or Trader Joe. According to the release, ParaSwap will also support newly launched Avalanche protocols such as Curve (CRV) and SushiSwap. More DEXs will be added to the catalog over time.
“DEX aggregators are increasingly important for traders looking for the best rates through decentralized real-time exchanges,” added Emin Gün Sirer, director at the Avalanche Foundation. “Working with ParaSwap to integrate their aggregation technology reinforces our dedication to delivering the best experience to DeFi users across the ecosystem. “
👉 Find our podcast on YouTube with Mounir Benchemled, CEO of ParaSwap
A French nugget that is gaining strength
In recent months, ParaSwap has gained in robustness and accelerated its development to compete with another DEX aggregator widely used in the ecosystem, 1inch. Last May, ParaSwap just raised $ 3 million to export to new blockchains. The team was already planning an Avalanche integration, and had also unveiled a future implementation on Fantom (FTM).
At the same time, the Ledger Live application recently adopted DeFi by integrating ParaSwap, the first DeFi application to join the third-party services of Ledger wallets.
In addition to these numerous integrations, ParaSwap also plans to integrate limit orders, thanks to Chainlink Keepers, a feature highly appreciated by the community specific to the Chainlink price oracle network.
The French startup is thus establishing itself as one of the flagship applications of DeFi, and many are waiting for the governance token of the protocol. Like 1inch, ParaSwap has every interest in distributing a token to its users in order to retain them in the long term. There is nothing to confirm that a ParaSwap token will indeed see the light of day, but the expectations of the community are relatively high. Wen token ser?
👉 Also find our complete presentation of the Avalanche blockchain and its AVAX token
Receive a recap of crypto news every Sunday 👌 And that’s it.
What to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliate. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be held responsible, directly or indirectly, for any damage or loss caused as a result of the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and invest only within the limits of their financial capacity. This article does not constitute investment advice.
About the author: Clément Wardzala
Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have endeavored to share qualitative content so that the sector is democratized among everyone.
All articles by Clément Wardzala.