Swing Integrates with Fantom — Extending Liquidity and Bridge Aggregation Through Dozens of Apps
Marking the ongoing rollout of our successful bridge and liquidity aggregator, Swing is delighted to announce we are launching on the Fantom (FTM) blockchain.
Fantom is an Ethereum-compatible blockchain that aims to improve upon the functions offered up by the world’s preeminent smart contract platform by employing a novel directed acyclic graph (DAG) architecture. Thanks to this modification of typical blockchain infrastructure, Fantom provides a fast, secure alternative to Ethereum that can confirm transactions in as little as one second, while processing a much higher volume of transactions at a drastically lower cost.
Since launching its mainnet in 2019, Fantom has seen over 80 popular dApps deployed on its platform. Among these are widely used DEXs (decentralized exchanges) such as Spookyswap, Spiritswap, SushiSwap, KyberSwap, Curve Finance, and more.
Fantom also acts as a home to several popular cross-chain bridges, including Ren, Multichain, Celer’s cBridge, Elk Finance, and numerous others.
By integrating Swing on the Fantom blockchain, we in turn add to the breadth of liquidity and bridging options for use in our decentralized aggregator. At the same time, Fantom users gain the chance to access the best liquidity and bridging opportunities from the comfort of a single, easy-to-use protocol.
Swing has been successfully integrated on several high-profile blockchains in recent weeks, including Avalanche, Polygon, Celer, and more. Following our integration with Fantom, Swing stands to expand its bridging and liquidity options even further in the near future, given the Fantom team’s plans to eventually become compatible with all major blockchains in existence.
Fantom seeks to solve the network congestion and high fee issues inherent to Ethereum by employing a technical tweak that effectively gives every dApp on its platform its own blockchain, all of which remain connected to the same network. This is achieved using a proprietary technology known as Lachesis — an Asynchronous Byzantine Fault Tolerance (ABFT) consensus mechanism that provides speed and security to the network while allowing each individual blockchain to be customized according to the needs of its users.
Fantom’s native FTM token is compatible with Proof-of-Stake (PoS), and can be found on Ethereum’s ERC20 architecture, as well as that of Binance Smart Chain (BEP20). Applications currently built on Ethereum can be easily run on the Fantom blockchain, where they can scale up to thousands of transactions per second.
“We’re thrilled to see Swing integrated on a fast-growing blockchain like Fantom,” said Swing founder Viveik Vivekananthan. “The wealth of dApps already running on Fantom gives us another opportunity to show Swing’s utility and effectiveness in pulling together all of the best available cross-chain liquidity and bridging options.”
Fantom shot to prominence in 2021 when 19,000% growth to its coin price resulted in a rapid march up the market cap rankings, where it now occupies a top-30 spot among the most utilized dApp platforms in the cryptosphere. Fantom’s rise was catalyzed by the growing number of developers electing to host their applications on its platform.
Swing is cross-chain infrastructure for the internet on major EVM and non-EVM networks such as Polygon, Solana, BSC, Polkadot, Avalanche, Moonriver, Harmony, xDai, Arbitrum, Fantom and more. It aggregates major liquidity sources and bridges to execute the best price and lowest slippage on trades and transfers. The project helps crypto traders, investors and yield farmers move crypto capital efficiently across blockchains via a web application and API product.
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