Venice Swap DEX is a peer-to-peer system for trading ERC-20 tokens on the Ethereum blockchain[VENICE, 30th August 2022] – Venice Swap is proud to announce the launch of the 1st release of our Defi Swap app, available at the url https://app.veniceswap.com. Our solution is open to all users on the Ethereum blockchain.
Users can easily connect their wallet to our DEX and start swapping their favourite tokens. They can also add liquidity to existing pools or create new ones opening new positions.
Venice Swap DeFi app is a peer-to-peer system for trading ERC-20 tokens on the Ethereum blockchain.
Venice Swap protocol is defined by immutable, persistent, non-upgradable smart contracts that run on Ethereum. It is designed to enable trades without reliance on any trusted intermediaries who may selectively restrict access.
Venice Swap app uses an Automated Market Maker (AMM), in place of an order book
AMM replaces the buy and sell orders in an order book market with a liquidity pool of two assets, both valued relative to each other. As one asset is traded for the other, the relative price of the two assets shift, and a new market rate for both is created.
In this dynamic, a buyer or seller trades directly with the pool, rather than with specific orders left by other parties.
Venice Swap Defi App creates then permissionless and unstoppable trading systems
A great difference from traditional markets is the Permissionless Design of Venice Swap app
This means that the protocol’s services are entirely open for public use, with no possibility to selectively restrict who can or cannot use them: anyone can swap, provide liquidity, or create new markets at will. This is a departure from traditional financial services, which typically restrict access based on discretionary criteria.
Venice Swap app includes three types of users:
- Liquidity Providers (LPs): individuals or entities who contribute ERC-20 tokens to common liquidity pools.
- Traders: individuals or entities who swap one token for another.
- Developers: individuals or entities who integrate with Venice Swap app smart contracts to power new and exciting experiences.
In total, interactions between these classes create a positive feedback loop, fueling digital economies by defining a common language through which tokens can be pooled, traded and used.
As regards our token VENICE Coin we confirm that we are monitoring the market trend very closely to ensure the best listing option, in order to give it the best launch possible in a short time, depending also on the evolving of the crypto financial market situation.
We really look forward to updating all our followers about this and other great moments for the Venice Swap project!
Venice Swap Product Team