Huobi Eco Chain, better known as Heco, is about to gain its first dedicated AMM courtesy of MakiSwap. While a handful of existing defi projects have added Heco to their list of supported chains, MakiSwap will be the first native AMM and yield farm.
EVM-compatible smart contract networks have proliferated this year as Ethereum’s long-running congestion has reached a tipping point. Huobi Eco Chain is seen as one of the new frontiers that has yet to be explored by defi adventurers, making MakiSwap’s arrival a timely one. If its Uniswap-style AMM gains traction, it will become the fulcrum for much of the trading that takes place on Heco.
MakiSwap Set For May 20 Debut
Defi users won’t have to wait long to put MakiSwap through its paces: the decentralized exchange is set to launch on May 20, and it promises much more than simple token swaps. Limit orders, advanced charting, analytics, and strong UX are all in store, giving MakiSwap a level of utility more akin to that of CEX than DEX.
Many of those alighting on MakiSwap for the first time and connecting their MetaMask browser wallets will be interested in the opportunities for yield generation. These should be plentiful, giving LPs rewards for adding liquidity for the AMM, and for collecting additional yield from any secondary farms that spring up on Heco.
The Asian Uniswap On The Asian Ethereum
Although an overly simple analogy, there are undeniable similarities between Heco/MakiSwap and the Ethereum/Uniswap of 18 months ago. Huobi has a strong presence in the Asian market, where it remains the dominant CEX, and now its decentralized blockchain is on course to capture a slice of all DEX trades in the region. MakiSwap will play a major role in facilitating this after securing investment from the likes of Kenetic Capital, LD Capital, NGC Ventures, Inclusion Capital , and Polygon Network.
“Heco has been a hidden gem for all this time due to its focus on the Asian community, but its adoption statistics easily rival those of Ethereum or BSC,” said Unilayer and MakiSwap founder Geo. “As BSC starts falling out of favor due to its performance issues, we are confident that MakiSwap and Heco will become the new household names of defi elsewhere in the world.”
The first opportunity for generating yield on the nascent MakiSwap will be for providing liquidity for initial tokens that launch on the AMM. HT/MAKI and LAYER/MAKI will be boosted to ensure these assets attract deep liquidity from day one.
Last week, holders of Unilayer’s native LAYER token were airdropped MAKI. These users will now be encouraged to connect to Huobi Eco Chain, claim their tokens and pool them to begin earning rewards starting on May 20.
Image Sourced from Pixabay
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