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CardWallet Partnership Announcement With MatrixSwap!

This brings us to our next partnership announcement — with Matrixswap, a multi-chain decentralized virtual-AMM-based perpetual swaps trading protocol

CardWallet Partnership Announcement With MatrixSwap!

When Uniswap launched in 2018, it became one of the first decentralized platforms to successfully utilize an automated market maker system. Since then, the growth of Decentralized Exchanges(DEX-es) has been exponential as the automated market making algorithm allows for folks to trade crypto without the need for a centralized entity.

This brings us to our next partnership announcement — with Matrixswap, a multi-chain decentralized virtual-AMM-based perpetual swaps trading protocol. We are thrilled to be collaborating with them to create one of the best-in-class DEX experiences for our community.

The goal of this partnership is to explore web3 dapp connections in cooperation. We will work together to strengthen the Cardano ecosystem as our collaborative success will ensure the availability of many decentralized applications to our community members. Adding on to this, MatrixSwap’s ability to list new market pairs as soon as the assets become tradeable on other DEX-es gives a huge first mover advantage to our ecosystem members.

Let us take you through a brief understanding of what MatrixSwap is.

What is Matrixswap?

Matrixswap is a decentralized Virtual-AMM based perpetual futures exchange deployed on Polygon, Polkadot and Cardano.

Unlike traditional AMMs, users can long or short any assets’ perpetual contracts with up to 25x leverage. While most decentralized derivative trading platforms face liquidity concerns, the Matrixswap vAMM offers infinite on-chain liquidity.

Matrixswap also offers a DEX aggregator that features multi-token swaps, allowing users to batch several tokens under one transaction.

Why Matrixswap?

Here are some unique features offered by Matrixswap that make it user-friendly:

  • Several existing decentralized exchanges have concerns when it comes to liquidity, whereas Matrixswap’s vAMM offers trades with up to 25x leverage with infinite on-chain liquidity. This is an important distinction as lower liquidity in DEX tends to result in a volatile market thereby triggering unforeseen price change activities.
  • Similar to CardWallet, Matrixswap is 100% non-custodial in nature and is also completely on-chain. This means that users control their own keys and their own funds ensuring the highest form of security possible.
  • The smart contracts are built in such a way that users can gain exposure to derivatives for any assets on the market upon interacting with them.
  • The deployment plan is on popular ecosystems like Polkadot and Cardano and by leveraging cross-chain bridges, aims to unlock liquidity from different blockchain networks thereby empowering traders with maximum capital efficiency.

There are several other interesting features offered by Matrixswap, which is outlined in their documentation page here.

A brief look into what is a vAMM?

A virtual Automated Market Maker (vAMM) is a system that provides synthetic (or virtual) liquidity, allowing traders to buy and sell derivatives entirely on the blockchain.

Virtual Automated Market Maker is based on the AMM protocol, the difference between them being that AMM can be used to perform token swaps using liquidity from liquidity providers whereas vAMM expands its application from token swaps to derivatives, such as perpetual contracts.

vAMMs can be different for different platforms and are interesting in a sense that they are popularly used for price discovery. Let us take a look at what’s interesting about this partnership.

What to look forward to in this partnership?

CardWallet and Matrixswap share a common vision of creating a secure and sovereign world for the Cardano ecosystem. Integrating Matrixswap with CardWallet and working on web3 dapps would strengthen this vision for the community.

One of the popular cross-chain DEX-es, Sushiswap has seen over $629,912,911 in trading volume in just the past 24h. This clearly indicates the potential for cross-chain DEX-es in the near future. Given the rapidly expanding size of the Cardano community, we would be seeing a rise in these numbers on Cardano based DEX-es like Matrixswap.

Our integration with the DEX has come at a very crucial moment as we are looking for innovative ways to bring a suite of DeFi products to our users, which includes web3 dapps as well. As our teams work together in collaboration, we are sure to bring something innovative and exciting to our communities.

Tiago Serodio, the CEO and co-founder of CardWallet says:

“With the rapidly expanding Cardano ecosystem, we are really excited to be partnering with projects like Matrixswap. They are aligned with our mission of providing a whole plethora of opportunities for our community members. We are excited to explore novel ideas together.”

CardWallet will be announcing several other partnerships with exciting projects in the Cardano ecosystem. So, stay tuned and do not miss our updates!

Follow Matrixswap For Latest Updates

Website | Twitter |Telegram|Telegram Announcement Channel| Discord

About CardWallet

CardWallet is a non-custodial wallet solution built for the Cardano blockchain and several other protocols, incubated by the Occam Association. With out-of-the-box support for Cardano native tokens and Visa, Mastercard, and ApplePay fiat on-ramps, CardWallet is expected to rapidly become a major wallet provider for the entire crypto ecosystem. CardWallet’s strategic and technical partners already include Scalable Solutions, Simplex, Occam.fi, Nodeseeds and Crypto Dorm Fund. Learn more at CardWallet’s website.

Follow CardWallet’s social media channels to stay up to date with the latest news:


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Read Original Article on Cardano Feed



Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.

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