The Theta blockchain has just announced the launch of the first version of its decentralized exchange (DEX) ThetaSwap, based on Automated Market Maker (AMM) logic, similar to that implemented by the Uniswap protocol.
ThetaSwap It is the first decentralized exchange (DEX) built on the blockchain de Theta, the blockchain streaming network that has not stopped growing since its launch. Theta has a decentralized global infrastructure used by millions of users around the world to share video content and deliver live, real-time data. Thus, with this new product, Theta takes a solid step to enter one of the fastest growing markets in the crypto industry, decentralized finance (DeFi). At the time of this edition, DeFi has a total value locked (TVL) that exceeds 42 billion dollars, while decentralized exchanges are gaining more popularity in the crypto space.
In January alone, DEXs in DeFi moved value by more than 58 one billion dollars, and so far this month, the volume of trading money moving in these spaces already exceeds 13,8 billion, so the interest that DEXs have experienced in the last 12 months has been incredible.
Source: Dune Analytics
To harness this potential, Theta launched the first self of its DEX ThetaSwap, which uses an open-source smart contract system based on Automated Market Maker (AMM) logic, similar to that of Uniswap and SushiSwap. This DEX allows users to trade their newly created TNT-20 tokens built on the Theta blockchain. The exchange is carried out without custody and without trust.
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A new chapter for Theta streamers
The Spanish President Pedro Sánchez’s announcement In an official statement released by the Theta network, the developers reported that the network's users and streamers, as well as community leaders, have already begun to create their own TNT-20 tokens in the ecosystem. TNT-20 tokens are tokens based on the Theta network, which users will be able to leverage to create new tokens on this blockchain network.
The new DEX will provide a secure and easy-to-use platform for the exchange of these tokens; and as the Theta team reported, for markets to price these tokens efficiently. In itself, Theta's objective is to provide a platform similar to that of Uniswap or SushiSwap, where users can have services from automated market making (AMM) protocols for their TNT-20 tokens, while expanding the use cases for Theta.
Users who wish to make use of this DEX must use the extended wallet version of Theta Chrome, or owners of an existing Theta web or mobile wallet can migrate it to the Chrome extension using their seed, the 12-word mnemonic phrases that Theta uses.
Decentralization of economies
Theta developers ensure that through this DEX, users and streamers will have new options to monetize their content and create new fluid and decentralized economies, which do not require the participation of intermediaries.
The new DEX will benefit all Theta users; from content streamers issuing loyalty tokens to their fans, to community groups and Decentralized Autonomous Organizations (DAO), created to finance entertainment and media companies. ThetaSwap creates many new and exciting ways to use and add value to this blockchain network. For developers, the launch of this new DeFi protocol represents a very important step to continue driving a rapidly growing market; In addition, it is an effective solution to meet the needs of its content creators and users, who every day look for new ways to monetize their content in a decentralized way.
Theta Evolution
The project born in 2017 has gained great popularity among the crypto community, especially in the last year. Theta has evolved in recent years, going from a centralized platform to a hybrid platform; and as its CEO indicates, Mitch Liu, will soon become a completely decentralized platform, capable of generating benefits for each key actor participating within the value chain it offers for video streaming. In this network, users and consumers can generate income and other great benefits, while contributing to the construction of a decentralized global network for the creation of digital content unique in the world.
The platform's native token, THETA is experiencing tremendous growth. At the time of writing, THETA is trading at a value of $2,30 USD, being one of the most profitable assets on the market with a growth of 1.800% in the last year.
Continue reading: Theta Edgecast, the blockchain-based video platform where you can generate income
