Kwikswap Layer 2 Protocol Updates
Layer 2 Protocol is the New Wave of Decentralized and users can enjoy many features without any problem. There are many Layer 2 Solutions available but we have chosen to work with Polkadot Parachains.
This is because we believe Polkadot Parachain has a lot of potential for the upcoming market. The KWIKSWAP Team has already started work with PLASM As Layer 2 Solution and the KWIKSWAP Dev team is working closely with the brilliant Plasm Core team lead by Sota Watanabe. We’re testing and implementing PLASM, however PLASM Network is currently upgrading due to New Version of Substrate being released.
Alternatively, We are planning to work with ACALA Parachain for Deployment. Users will be able to user their Ethereum Wallet address as a Polkadot Wallet. Users will be required to bind their wallet address to a Substrate wallet address. This will allow them to easily transfer cross-chain funds and resources efficiently.
We will Test & Deploy our DEX on PLASM & ACALA Network, where users can enjoy many additional features like Staking, Voting, Stable Coins & much more on the cards.
The KWIKSWAP Team is working hard to make a testnet release as soon as possible.
As the KWIKSWAP Team is currently working intensively on Layer 2, Here are the some updates for our Community:
- KWIKSWAP is currently fully operational on Ethereum Mainnet with complete functionality and all systems are go and working perfectly.
- We have been working on KWIKSWAP Layer 2 lately so that our users can enjoy a better Decentralised experience with lower gas fees and faster and greater Transactions throughput.
- KWIKSWAP is working closely with the PLASM Team on deploy our DEX on the Dusty Testnet, But due to the current update of Substrate 3.0, this is slightly delayed.
- PLASM are also now updating their Testnet and working super hard to make this all possible as soon as they can.
- There are also some other WEB 3 updates which are under implementation by PLASM Team. These updates in PLASM Network will allow users to manage assets on Cross-chain networks by creating a technical process for managing all your assets in Polkadot.
- We’ve delayed our Dusty testnet Launch because many updates by Substrate. So for the time being we need to wait for these processes to be updated.
- In the meanwhile we’re going to expand our DEX to other Parachain Networks also, namely Acala Network.
- ACALA is another amazing Polkadot Parachain, which we believe have a lot of potential and the PLASM team is also working closely with ACALA!
- We’re Testing ACALA Blockchain & very soon our DEX will be live on ACALA Mandala Testnet. This will be a great step towards our V2 solution.
- We will be the first DEX Implemented Layer 2's in Polkadot parachain if all goes to plan!
- ACALA offers many exciting new Features including Stable Coins, Liquidity Staking, Fixed & Recurring Payments and Native Tokens for Gas fee and other many more interesting features to come in the pipeline.
- KWIKSWAP will use both Blockchains for a better user Experience on KwikSwap V2!
- We cannot wait until our users will be able to enjoy all the new features.
- We’re using ACALA Mandala Testnet TC-6 for Testnet: Tokens and Assets in testnet do not have any real value. But this will allow users to manage and check all the possibilities and new features and create a unique opportunity for the product team to have a feedback loop with you our users.
- Users can Bind their Ethereum EVM account with Substrate for cross chain compatibility. User don’t need to worry about shifting assets to a new blockchain or anything like that.
- ACALA Blockchain fully supports Ethereum Solidity ( EVM ) Contracts.
- The KWIKSWAP Team will work closely with the ACALA Network Dev team for deploying and testing our KwikSwap DEX.
- Our DEX should be LIVE on Testnet in around 10 days so that users can test and explore the features on ACALA Blockchain.
We are super excited to bring you these updates and hope you were just as excited to read about them ;)