CrowdSwap Launches Crosschain Feature in 'Opportunities'
With the successful launch of the crosschain and CCLP features by CrowdSwap in Q1, and staking and yield farming in Q3 of 2022, it is time to integrate these two features.
As of October 4, 2022, CrowdSwap has launched an update to integrate its successful crosschain swap feature with its 'OPPORTUNITIES' section.
This feature can also contribute to a safer, less complex experience of decentralized finance (DeFi). In general, integration of the crosschain feature into the offered options can facilitate the process of staking and yield farming.
DeFi from other blockchain networks
CrowdSwap's CTO, Vahid Hassani, commented on the key aspect of this feature, saying, "This feature enables our users to stake or yield farm their existing tokens regardless of the blockchain network their assets are on".
Let's imagine a cryptocurrency holder would like to stake their Ethereum (ETH) on a Polygon (MATIC) liquidity pool. To do so, they need to conduct the following transactions:
TX0: ETH (Ethereum) -> MATIC (Polygon)
TX1: Swap MATIC -> USDC
TX2: Swap MATIC -> MAI
TX3: Add Liquidity USDC/MAI to Quickswap LP <- receive LP Token from this TX
TX4: Stake LP token
CrowdSwap can conduct these two transactions in a single run by offering a crosschain solution. More precisely, with this new feature, the ETH holder doesn't need to take their ETH to MATIC to a different crosschain platform to swap it first. Rather, they can directly put their ETH to a MATIC liquidity pool and the crosschain swap is done automatically.
With this integration, CrowdSwap ensures that transactions are conducted on a highly secure platform, helping users take advantage of staking and yield farming with ease of mind.
First-class DeFi journey
Christian Mülder, the CEO of CrowdSwap said, "There isn't any yield farming platform that provides a solution like this one on CrowdSwap".
"The upcoming feature is a milestone towards a real multichain user experience," he said, adding, "It has never been easier to take an opportunity from another chain".
Christian also said, "Thanks to our fast lane transactions, everybody can get a first-class DeFi journey".
Less Complexity, Less Time Spent
CrowdSwap's crosschain feature helps reduce some complexities by doing everything for the user in a single transaction. Therefore, the user doesn't have to worry about the number of transactions on several platforms, because it is done for them automatically. This way, the user can directly stake their existing tokens on any blockchain and the rest is done for them by CrowdSwap.
In addition, volatility in the crypto market can sometimes be so high that huge price changes can happen in seconds. But what if you could reduce the effect of time? This is why you can count on CrowdSwap's new feature to conduct your transactions in the shortest time possible.
"With the launch of this feature, we want to give our users the ability to use DeFi investment opportunities more easily and quickly in a secure environment, "CrowdSwap's CTO, Vahid Hassani, added.
CrowdSwap; the Ultimate Solution
Using this outstanding feature, staking and yield farming can be done in no time with high speed and exceptional security while making sure that you pay reasonable fees for it. So, head to the 'OPPORTUNITIES' section of the CrowdSwap App and make your first investment using this new feature.
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