First Inscription Decentralized Exchange 100Swap Debuts On Bitcoin Mainnet
In Brief
Bitcoin ecosystem AMM and decentralized exchange 100Swap, announced its official launch on the Bitcoin mainnet.
Bitcoin ecosystem automated market maker (AMM) and decentralized exchange (DEX) platform, 100Swap, announced its official launch on the Bitcoin mainnet.
Utilizing an AMM algorithm similar to Uniswap, the platform allows users to trade assets under the BRC-100 protocol in a fully decentralized, trustless, and censorship-resistant manner, eliminating the necessity for custody of user assets.
The BRC-100 protocol represents a decentralized computing protocol based on Ordinals Theory. It introduces a modularity approach to protocols and applications, termed inheritance and nesting, laying the groundwork for extending the BRC-100 protocol and applications.
Users can utilize 100Swap either through the 100Swap decentralized application (dApp) or via inscription. The platform operates on the unspent transaction output (UTXO) and state machine models, employing computing operations (COP) from BRC-100.
BOS functions as both a native and governance token within the 100Swap ecosystem. Its tokenomics dictate that 60% of tokens are reserved for minting, 35% for yield farming, and 5% for the BRC-100 Protocol. The overall supply of BOS tokens is capped at 1,000,000,000.
Since its testnet launch earlier this year, the exchange has logged over 15,000 active addresses and witnessed more than 140,000 inscriptions. Additionally, the exchange has been integrated with the OKX Web3 wallet, enabling developers to build applications on its platform.
Corgi Token Surges 3,000% Following 100Swap Launch
Following the exchange’s launch, the price of the BOS token has shown a decline of 20%, as reported by the platform’s dashboard. Conversely, another token named Corgi, listed on the exchange, has witnessed a remarkable surge of over 3,000% within less than 24 hours.
According to the exchange, the current total value locked (TVL) amounts to $35,082, with a trading volume of $15,906 observed over the past 24 hours.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
