As the DeFi universe continues to expand, liquidity will only be increasingly scattered across multiple chains and the situation is poised to get worse as more new chains emerge with individual DEXes on each chain.
On-chain trading and liquidity lack the flexibility and choice found in centralized options. This is a problem that we at OpenSwap aim to solve by introducing new technologies and concepts such as liquidity queues, hybrid smart routing, and inter-chain liquidity swaps. We present this to the community through partnerships with other projects and with our own DeFi hub where we will be able to offer the best on-chain pricing and multi-chain arbitrage opportunities.
The OpenSwap project began in the summer of 2020 (aka the summer of DeFi) when UniSwap was gaining popularity with its AMM liquidity pools. We wanted to address the two primary issues at the time: Slippage and Impermanent Loss. The idea was to provide on-chain spot market-priced swaps in the form of liquidity queues. From there, we won a grant from the OAX Foundation and have been BUIDLing for nearly a year.
Our team believes that users should have choices, the freedom to swap with any liquidity source. Instead of competing for liquidity with other AMM DEXes, we want to support them and let the users make an informed decision on the optimal swap for their situation.
Bruce Chau - Founder of OpenSwap