A cross-chain aggregator umbrella with a single click DegenSwap said that it had collected USD 3 million through an Initial Coin Offering (ICO) on DynamicSwap, which saw its token climb by 4200 percent, giving investors a whopping 42-fold return.
The platform is designed to bring users the best prices across all other market aggregators and is backed by high-profile investors such as Michael Terpin of BitAngels and notable venture capital groups such as Moonwhale, Draper Venture Network, MeXC, Interstellar Digital, Maven Ventures, and Mantra DAO.
Binance Coin (BNB) and Ethereum (ETH) will be included in the initial platform launch, with one-click interoperability between the two blockchains. The platform, which is positioned as an umbrella aggregator, addresses a significant hurdle currently influencing the bitcoin industry by giving a 100% refund on gas expenses.
“We saw an issue when testing aggregators across the cryptocurrency space where the prices were different even though all aggregators claim to have the lowest price. Further, it is evident that gas fees and complicated cross-chain processes limit the trading and deter new users to the decentralized world. So, to solve this, we designed DegenSwap to not only display the best price among all aggregators but also to reimburse users for their gas and fee costs, which is a game-changer for crypto,” Atom Foundation CEO, Yoda (Jude) Regev, said.
The DegenSwap platform contains a native token, DEGEN, which is now accessible on DynamicSwap and will be added to Uniswap, Sushiswap, and PancakeSwap in the near future; the company also has agreements in place with centralized exchanges such as MeXC and others. While the public sale is still ongoing, the native token has risen 10X since launch and 42X from the private sale. Cryptocurrency projects may also develop a license-free DegenSwap clone with a single click. Even with no development, the projects can collect their own fees and transaction taxes and use the fee-reimbursement technology.
