June [at] Swing (2023)
June [at] Swing (2023)
Product & Growth Updates
New month, new updates! We are excited to share the latest updates for the month of June. The Swing team has been diligently working on expanding cross-chain capabilities to provide Web3 developers with enhanced interoperability and liquidity options. In this product update, we will highlight the key features and partnerships that make Swing a game-changer in the decentralized ecosystem.
1. Phantom Wallet Support
Swing is excited to announce that users can now connect their Phantom wallets to the Swing widget for seamless transactions on Ethereum and Polygon chains. Phantom is a popular non-custodial wallet designed for the Solana blockchain ecosystem. This integration with Phantom allows users to easily interact with Swing and bridge assets across different chains, providing enhanced convenience and accessibility. This integration paves the way for Swing to expand support for the Solana ecosystem in the near future.
2. Widget Customization
To offer more customization options, Swing has introduced widget color customization. With the use of CSS variables, customers can now override default color values and tailor the widget's appearance to match their dApp's style. Whether it's a dark or light theme, this feature enables developers to create a seamless and consistent user experience within their application. Check out our docs.
3. MultiversX Integration
Swing has expanded its support for the MultiversX chain, an important addition to the Swing ecosystem. Users can now enjoy pre-swaps on Ethereum, allowing them to send any token on Ethereum and receive USDC, USDT, and BUSD tokens on the MultiversX chain. Additionally, Swing now offers cross-chain bridging between Binance Smart Chain and MultiversX, with support for USDT, USDC, and BUSD tokens. These integrations provide users with enhanced liquidity options and open up new possibilities for seamless cross-chain transactions.
4. USDT Approval Improvement
Swing has addressed a challenge related to the USDT token's implementation of the approve() function, which deviates from the ERC20 standard. Previously, users encountered difficulties sending USDT transactions if the sending amount exceeded the previously approved USDT amount. Swing has updated its contracts, API, and SDK to set the allowance to zero immediately before each approve() call. This improvement ensures that users can seamlessly bridge and swap USDT tokens on any chain, regardless of the transaction amount, without encountering any issues.
5. Contract Audits
At Swing, we prioritize the safety and security of our customers and end-users. As part of our commitment to robust security practices, Swing has recently completed another round of audits conducted by Peckshield, an industry-leading blockchain security company. We are pleased to share that our EVM contracts have undergone a thorough review. You can review the latest audit report to gain confidence in the security of the Swing ecosystem here.
6. Community and Partner Updates
a. Twitter Space: Swing Integration Proposal with Osmosis
The Swing integration proposal focuses on enabling Cross-Chain swaps between EVM and Cosmos on Osmosis. This integration will strengthen the liquidity options and expand the ecosystem. Sam will discuss the role of the Cross-Chain Swaps contract in this proposal.
b. AshSwap and Swing Join Forces to Unlock Deeper Liquidity for MultiversX!🤝
AshSwap is a decentralized exchange built on the MultiversX blockchain, serving as a financial layer that drives development within the ecosystem. Together, we'll catalyze growth and enhance the liquidity experience across the network.🔀
Stay tuned as we unlock a new era of liquidity and possibilities for MultiversX!🎉
c. Swing x AshSwap AMA | MultiversX Liquidity Unleashed
We had the pleasure of hosting an AMA session with AshSwap. Joining us was Neil, the Founder & CEO of AshSwap. During the session, we introduced both platforms and discussed the partnership between AshSwap and Swing, focusing on their collaboration to enhance liquidity and provide a seamless trading experience on the MultiversX blockchain.
d. Orbiter One and Swing are forging a powerful alliance.
Prepare for a game-changing alliance as @OrbiterOne and @swing_xyz join forces! 🤝
💫 Witness the dawn of a new era in #DeFi and brace yourselves for next-level #liquidity and seamless cross-chain capabilities. 💥🌍
e. Understanding Liquidity Fragmentation in Cryptocurrency Market
Liquidity fragmentation is a common phenomenon in the cryptocurrency market, which can cause volatility and impact trading strategies. In this article, we explore what liquidity fragmentation is👇.
The June product update showcases Swing's continuous efforts to advance cross-chain capabilities and improve user experience. With integrations such as Phantom wallet support, widget customization, enhanced USDT approval, and expanded support for the MultiversX chain, Swing is expanding its reach and enabling users to seamlessly bridge assets across multiple chains.
Swing remains dedicated to providing secure and efficient cross-chain solutions, ensuring users can unlock the full potential of the decentralized ecosystem. Stay tuned for more updates as Swing continues to evolve and revolutionize the Web3 and DeFi space.
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