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Press release
Press release. Yongsheng Today launched their fifth decentralized application (dApp), EverSwap, a multi-chain decentralized exchange (DEX) with native coin swap functionality powered by their cross-chain bridging dApp Yongqiao. This native coin exchange The (NCS) feature lowers the barrier to entry for those interested in the multi-chain DeFi space, making the cross-chain experience accessible and seamless with fewer steps, fewer fees, and faster transfers.
Through EverSwap’s Native Coin Swap, users will be able to exchange native cryptocurrencies from Ethereum (Ethereum /ERC-20), Binance Smart Chain (BNB /BEP-20) and Polygon (MATIC / Polygon), cross-blockchain without centralized exchange. Native Coin Swap provides a one-step DeFi solution for trading native cryptocurrencies.
native coins, such as BNB, Ethereum, or MATIC usually need to withdraw to a centralized exchange when exchanging coins of different blockchains. Traditionally, the process took time and money because of the multiple transactions involved and the steps users needed to take. Instead, EverSwap’s Native Coin Swap executes all transactions on the backend, creating a more streamlined process for users who can receive new coins at block speed.
EverSwap’s Native Coin Swap provides users with a fast and efficient way to participate in multiple blockchain ecosystems while preserving all of DeFi. Because the feature leverages the unique bridging infrastructure that the EverRise development team created for EverBridge, users are able to take advantage of EverBridge’s security features and block-speed transfers. During their public beta launch, users reported that native currency cross-chain swaps were completed in as little as 2 minutes.
Deep dive into the EverRise ecosystem and EverBridge’s technology
EverRise released the Upgrade Token (RISE) on November 29, 2021. The upgraded RISE token is launched simultaneously on the three chains connected by EverBridge, with circulating supply on the Ethereum, Binance Smart Chain and Polygon networks. This shared supply allows the RISE token to be used as an intermediate transfer token between the three blockchains. The protocol upgrade also introduces flexible, high-yield staking to the EverRise ecosystem and makes their security-focused dApps available to projects developing on any of these blockchains.
EverSwap’s Native Coin Swap leverages EverBridge’s technology to execute transactions on the backend. EverBridge puts the native token on a blockchain, converts it to RISE, then bridges the RISE token to the receiving blockchain, sells the bridged RISE token for the new native token, and deposits it directly back to the user’s DeFi wallet. Users only pay gas fees and a 1% transaction fee for each exchange initiated. The volume generated by these transactions also contributes to the EverRise repurchase and equity agreements. Currently, over 47% of the total RISE supply is staked and locked for an average of 9 months.
EverSwap: On the road to becoming an all-in-one multi-chain DEX
EverSwap’s Native Coin Swap feature is one of the firsts in the decentralized finance space and a huge milestone for the industry as a whole. With a frictionless experience and intuitive UX/UI, EverSwap’s Native Coin Swap provides a novel tool for those exploring multiple blockchains in the DeFi space. As EverRise expands their ecosystem to more blockchains, they will bring this feature and make more native cryptocurrencies available for trading on EverSwap.
EverSwap’s native coin swap functionality is just the beginning of an all-in-one multi-chain DEX that the EverRise team is building. A multi-chain exchange option for RISE tokens will be released soon for RISE holders to exchange RISE on Ethereum, Binance Smart Chain and Polygon. In addition to RISE’s multi-chain exchange capabilities, EverRise will also seek to add functionality to allow users to exchange other DeFi tokens traded on Ethereum, Binance Smart Chain and Polygon networks in the future.
About Yongsheng
EverRise is a blockchain technology company focused on increasing the accessibility of decentralized finance by bringing security solutions to the space. Through an innovative ecosystem of decentralized applications, EverRise provides investors and developers with the tools to access the widest possible market with the highest level of security. They are working towards mass adoption of security protocols across the Binance Smart Chain, Ethereum and Polygon networks and currently offer 5 secure dApps: EverBridge, EverOwn, EverMigrate, EverStake and EverSwap, with many more in development.
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