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NEOPIN and Finschia Foundation to jointly launch Finschia’s first decentralized exchange

Web3 & Enterprise·December 18, 2023, 3:40 AM

Centralized decentralized finance (CeDeFi) protocol NEOPIN and blockchain developer Finschia Foundation have teamed up to launch Finschia Network Swap (FNSwap) — the first automated market maker (AMM) decentralized exchange on Finschia’s public blockchain — in the first quarter of next year, according to an announcement on Finschia’s official website last Friday (KST).

Photo by Chris Liverani on Unsplash

 

Revolutionizing DeFi

NEOPIN has taken over the development of FNSwap, which will employ a pricing algorithm as an AMM decentralized exchange to set the prices of assets, thus increasing liquidity in liquidity pools. The platform will support crypto deposits, including those made in FNSA and NPT — Finschia and NEOPIN’s respective governance tokens — along with other stablecoins. The list of supported cryptocurrencies will be expanded later on as the mainnet grows, Finschia said.

“As Finschia’s first decentralized exchange, Finschia Network Swap is expected to make it more convenient for many users to use crypto services,” said Kim Yong-gi, CEO of NEOPIN. “We plan to actively expand the number of cryptocurrencies supported on the platform in line with the expansion of the Finschia ecosystem.”

 

Ecosystem expansion

FNSwap will also be centered around its community of users, providing lucrative DeFi products and incentives like token swapping, staking and rewards, thus establishing a secure and convenient blockchain ecosystem.

The two firms committed to exploring other endeavors as well, such as discovering promising Web3 projects through events like hackathons; facilitating interaction between their respective partner firms; and conducting joint promotional campaigns to expand the Finschia ecosystem.

“We are pleased to work with NEOPIN to launch the first decentralized exchange of the Finschia ecosystem,” said Ko Young-soo, Chairman of the Finschia Foundation. “We will consistently provide the technical support that NEOPIN needs to successfully launch the Finschia Network Swap.”

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Web3 & Enterprise·

Oct 21, 2023

Japanese Games Publisher Suspends Metaverse Downloads

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Web3 & Enterprise·

Mar 09, 2024

Nissan delves into metaverse on a heritage and safety theme

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Web3 & Enterprise·

Dec 05, 2023

Wemade and Mystic Games to bring two new games to WEMIX PLAY

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