SaucerSwap is a pioneering DEX that leverages the open-source, public Hedera network.
SaucerSwap is an open-source, decentralized exchange that leverages the public Hedera network. SaucerSwap offers a full suite of DeFi services, including, but not limited to, Swap, Liquidity, Farm, Staking, and more. This ace DeFi project on Hedera has recently witnessed an impressive increase in users and liquidity.
- The Hedera DeFi ecosystem has recorded a notable rise in applications, liquidity, and users recently.
- SaucerSwap, the largest DeFi service provider on Hedera, saw a 235% jump in users in 30 days.
- Hedera’s unique architecture and native services, combined with the EVM, overcome problems facing blockchain networks.
- DeFi application users on Hedera can expect no front running, low & fixed fees, blazing fast performance, and high availability.
- These are crucial reasons why DeFi projects, such as SaucerSwap, have chosen Hedera as their underlying infrastructure to drive an incredible user experience.
SaucerSwap, the pioneering DeFi dapp on Hedera, has recently witnessed a surge in users, increasing by 235% in 30 days. Such performance indicates the climbing DeFi fervor on Hedera. At the same time, it indirectly proves that Hedera can breed DeFi projects to flourish.
What is SaucerSwap?
SaucerSwap is a Hedera-powered DeFi platform launched on August 5th. Notably, the project immediately gained attention and strong engagement from users, as can be fully manifested in its data performance.
Regarding total value locked (TVL), SaucerSwap achieved $10 million within the first week after the official debut and $16 million after one month. As of September 21st, SaucerSwap had surpassed $37,000,000 in total trading volume.
SaucerSwap has quickly earned the favor of users thanks to its powerful features and smooth DeFi experience. SaucerSwap has quickly won the favor of users thanks to its powerful features, including swap, liquidity mining, yield farming, and more. Furthermore, these are all facilitated by a smooth user experience.
SaucerSwap has a native token, SAUCE, to facilitate its platform. It is both a governance token and a utility token. Users can stake SAUCE to provide liquidity to the platform and receive rewards for doing so.
Why build projects on Hedera?
Hedera redefines decentralized distributed networks and cryptocurrencies with an innovative technical approach. As the only public ledger today using hashgraph consensus, Hedera is immune to blockchain’s scaling issues. Moreover, there is no mining to consume excessive energy or harm the environment. As a result, transactions powered by hashgraph have been safer, faster, and less expensive from day one.
As a result, transactions powered by hashgraph have been safer, faster, and cheaper from day one. On average, transaction confirmation time on Hedera is 3-5 seconds, with instant finality. This is fundamentally different from Layer 2 (L2) rollups because L2 rollups need to bundle transactions into a single block and publish the validated transactions to the mainchain afterward.
Building on Hedera and leveraging its versatile services (Hedera Token Service, Hedera Consensus Service, and Hedera Smart Contract Service using the EVM) enables DeFi projects to deliver an ultimate user experience that is secure, efficient, and affordable.
Take SaucerSwap as an example: Users only spend as little as $0.003 USD, fixed, when swapping tokens on SaucerSwap. Such performance leaves even the best L2 Ethereum solutions behind.
The Hedera DeFi Alliance paves the way for Hedera’s DeFi boom
Stader Hedera, Saucerswap Labs, and HeadStarter, three of the first DeFi protocols built on Hedera, have formed the Hedera DeFi Alliance (HDA). The joint efforts of the Alliance members will provide the necessary support for existing and future Hedera DeFi projects and those considering migrating to the ecosystem.
In addition, SaucerSwap has open-sourced its DEX code to the developer community, an action to accelerate the adoption of decentralized technologies on Hedera. By sharing its underlying technology, SaucerSwap invites developers to optimize, contribute back, and build new solutions.
Diversity is essential for a healthy Web3 world because when one technology fails to address a problem effectively, users need to have alternatives without compromising the experience.
The Hedera DeFi ecosystem is gaining momentum with more DeFi legos to join, including HeliSwap and HBARSuite. As a pioneer of decentralized ledger technology, Hedera will always attract developers and users with its unique technical strengths.
In a nutshell, Hedera can provide an effective solution when traditional blockchain technologies cannot handle real-world transaction volumes at scale.
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