The platform for smart contracts Qtum will host a new decentralized exchange on Friday after QiSwap, an independent liquidity protocol, completes its testing phase..
Qtum recently stated in a press release that With the integration of QiSwap, the platform has “come one step closer to realizing its decentralized financial ambitions”..
With the launch of the QiSwap mainnet on Friday, anyone can create DeFi applications and provide liquidity in the Qtum blockchain.. QiSwap is a decentralized exchange that provides liquidity for the QTUM cryptocurrency and other native assets known as QRC20 tokens.
During phase 1 of the mainnet, QiSwap enables trading between QTUM and Stablecoin Qcash (QC).. In the weeks after the launch QiSwap plans to add more trading pairs. In a more distant future, called Phase 4, the platform will enter into the governance contract for its Qi token.
QiSwap founder and COO Robert Gaillard told Cointelegraph:
“Qiswap will also allow the community to take control of the Qtum protocol as it is one of the founding funds of the DeFi ecosystem. We see QiSwap as the first step in a broader push for targeting the DeFi tools of which we’ve learned they are aligned. in the next few months with Qtum. “
Qtum was introduced in 2016 as a blockchain protocol that combines the smart contract functions of Ethereum with the security of Bitcoin.. The Qtum cryptocurrency ranks 66th in terms of market capitalization with a total value of USD 233.5 million.
Qtum’s foray into DeFi comes at an opportune time in the market development. At press time, more than $ 13.3 billion has been invested in DeFi projects, with the vast majority of funds being received in the past six months. It wasn’t until May that the total blocked value reached $ 1 billion.
The decentralized stock market hit a high of $ 4.6 billion last week.