Within a day after the Moonbeam network went online, StellaSwap unveiled the foremost decentralized exchange (DEX) on the platform. This was a watershed event for the Polkadot network overall, since the introduction of Moonbeam resulted in the creation of Polkadot’s initial fully functional parachain.
As the foremost and premier automated market-making (AMM) decentralized exchange (DEX) for the Moonbeam parachain ecosystem, StellaSwap’s primary goal is to establish a spectrum of network effects to solve liquidity concerns. This is particularly true for a newly launched blockchain system with minimal liquidity. Users may now buy and sell, and also participate in yield farm on StellaSwap.
“We are pleased to be among the foremost DEX on Moonbeam. When Dr Gavin Woods suggested the notion of a hybrid multi-chain architecture in 2016, we instantly adhered to his idea of decentralized networks evolving in this direction. This has become an actual fact nearly five years later, following the deployment of the initial parachain, Moonbeam. We are privileged to be among the foremost to debut.” — StellaSwap Rep
After forming a strategic relationship with Multichain, the premier cross-chain protocol, StellaSwap attracted great buzz.
“We’re looking forward to collaborating with Multichain to expedite asset transfers across many blockchain systems. Multichain is the dominant player in cross-chain asset transactions, offering the widest selection of digital assets and the most supportive protocol with minimal processing fees and swift bridging speeds. Given that StellaSwap will be among the first decentralized exchanges on Moonbeam, having a solid bridge backbone powered by Multichain will speed wealth accumulation inside the Moonbeam environment.” – Representative of StellaSwap
“Also it’s our privilege to cooperate with StellaSwap, Moonbeam’s premier DEX and DeFi portal,” according to Multichain’s official Twitter account.
StellaSwap began with a transparent token disbursement model in an attempt to achieve real decentralization and to provide users with an impartial means of acquiring their indigenous token, STELLA. StellaSwap is comprised of a group of engineers and programmers with extensive expertise in the fields of cybersecurity and smart contract creation.