aelf, a multi-chain blockchain ecosystem, has announced on its Twitter handle that they will go ahead with the testing of AESwap, the first DeFi project based on the Aelf network. AESwap would be a decentralized trading platform with no financing and is kept to both institutions and individuals without any discrimination. The year 2020 has seen the Ethereum DeFi ecosystem’s rapid growth and the booming of Decentralized Exchange or DEX. In light of this, Aelf has launched AESwap.
AESwap has adopted the CPMM or the Constant Product Market Market (CPMM) model. There is no need for pre-mining and financing, which is the most distinct feature of the project. As soon as the project goes live, it will offer free access to users across the world and will assist the people to participate in the open financial market. To ensure that the project without any glitch, the Aelf DAO Management Committee will manage the follow-up funds.
The AESwap boasts of complete DeFi supporting infrastructure that includes stablecoin and cross-chain assets. AESwap has the ambition of becoming the leading trading platform in the world, and it promises to offer an efficient and robust DeFi product. There is also a mobile version of AESwap that has successfully integrated the templates of self account management to make itself easier and user-friendly. The mobile version has completed Phase 1 of the feature development and will be made available for public testing. However, the desktop version is not immediately known as it is still under development.
The two main distinguishable traits of AESwapPhase 1 are that the market makers can make money by adding liquidity to the trading pairs, and token holders can exchange a token for another token just by paying a 0.3% transaction fee which is the commission of the market maker. The protocol charges no commission.