Updates on DefySwap Launch on Echelon Chain

Wow! What a fantastic week this has been! DefySwap took Echelon chain by storm and the storm is showing no symptoms to stop anytime soon. And the credit goes to….

YOU.

Yep, you. The community is who made what DefySwap is and we can never thank you guys enough for this.

The week in reflection:

This has been a happy week for all of us.

1. The launch went smooth, the price action made our users happy. We saw a sustainable growth (and not a pump and dump) which makes this chart a happy looking chart even for the experienced trader.

2. DefySwap is now listed on Dex-Screener and they are charting all our pairs. That is a great news. Now any project launching via us will get instant access to the charting from DexScreener. Here is the direct link: https://dexscreener.com/echelon/defyswap

3. The first project which launched via DefySwap went live, eCubigator. We worked hand in hand with them to make this launch a success and they have been doing fairly well since launch. We are happy for them. Link: https://t.me/crocosauruspump

4. The first token which uses DFY as reward went live as well, EchLON. We were there during their launch and they seem to have launched well prepared and the price chart shows the approval from users of Echelon chain. Link: https://t.me/echlon_official

5. We have started sending out tokens to our FTM side holders and as of now, over 500,000 DFY has been issued to the users on a First Come First Serve basis.

What’s coming up?

We had long discussion and decided to take a few steps to further strengthen DefySwap.

With Echelon chain embracing DefySwap with open arms, we have decided to officially abandon the FTM side of DefySwap.

What does this mean? The following will be in effect immediately.

1. We will move every liquidity from FTM chain to Ech chain. This will increase the TVL of DefySwap on Echelon chain. This will also further stabilise the swap rates by lowering Price Impact during trades. When we start to offer the best swap rates, we expect wider adoption from the users. Most importantly, this will kill the cross-chain arbitrage opportunities where people buys lower priced DFY(FTM) and claim 1:1 reimbursement with a much higher priced DFY(ECH).

2. The FTM sub-domain will remain open till 31st of May, 2022. If you are in Farms, Pools or invested in any other way, we request you to please remove your assets before that.

3. No further development will take place for the FTM side.

4. DEFY-DFY direct swap is now off.

5. USDC pool for DEFY users will be taken off on 29th May.

6. We further announce that Defy Farm is now officially abandoned. There will be no development, no support and the domain will be taken off in near future.

What’s coming up on tech-side

1. We have decided to launch a total rebranding effort which includes a new landing page, a different colour theme, and a different logo.

2. We are almost there with native charting as well. We will add it very very shortly.

3. We are going to unveil 3 more features to bring new projects to us which include launching via DefySwap as well as Using DefySwap as their primary dex. We believe these features will be unveiled before this month ends.

That’s it for this week. Happy using DefySwap. We love you!