PRESS RELEASE. EverRiseTheir fifth decentralized application (dApp), EverSwap (a multi-chain decentralized Exchange (DEX), is now available. Native Coin Swap powered by the cross-chain bridging dApp makes it possible to launch this dApp). EverBridge. The Swap Native CoinsThe NCS functionality reduces barriers to entry for anyone interested in multi-chain DeFi. It makes cross-chain experiences accessible and seamless, with less steps and faster transfers.
With EverSwap’s Native Coin Swap, users will be able to swap native cryptocurrencies, starting with Ethereum (ETH / ERC-20), Binance Smart Chain (BNB / BEP-20), and Polygon (MATIC / Polygon), across blockchains without the need for a centralized exchange. Native Coin Swap offers a simple DeFi solution to trading native cryptos.
BNB and ETH native coins, as well as MATIC, must typically be withdrawn from a centralized exchange to swap for a currency of a new blockchain. Traditionally, this process takes time and costs money. There are many transactions and steps that need to be done. Instead, EverSwap’s Native Coin Swap performs all transactions in the backend, creating a more streamlined process for users with the ability to receive new coins at block speed.
EverSwap’s Native Coin Swap provides a fast and efficient way for users to participate in multiple blockchain ecosystems while staying all DeFi. Since the feature leverages the unique bridging infrastructure created for EverBridge by the EverRise development team, users are able to take advantage of EverBridge’s security features and block speed transfers. Users reported that native coin-cross-chain swaps were completed in as little as 2 minutes during their beta release.
Diving into the EverRise Ecosystem and EverBridge’s Technology
EverRise has released an updated token (RISE), on November 29, 2021. An upgraded RISE token was launched on all three EverBridge-connected chains simultaneously. There is one supply in circulation across the Ethereum Smart Chain, Binance Smart Chain and Polygon networks. The RISE token can be used to transfer between these three blockchains using this shared supply. Protocol upgrades introduced flexibility, high yield stakes into EverRise and made their security-centric DApps accessible to all projects on these blockchains.
EverSwap’s Native Coin Swap utilizes EverBridge’s technology to perform the transactions on the backend. EverBridge takes a native coin on one blockchain, converts it into RISE, then bridges the RISE tokens to the receiving blockchain, sells the bridged RISE tokens for the new native coin and deposits it directly back into the user’s DeFi wallet. The gas fee is covered by users, as well as a transaction fee of 1% per swap. This volume also helps to fund the EverRise buyback protocol and stake protocol. Over 47% currently own stakes and are locked for an average 9 month.
EverSwap: A multi-chain DEX that is all-in-one
EverSwap’s Native Coin Swap feature is one of the first of its kind in the decentralized finance space and is a massive 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. EverRise is expanding its network to include more blockchains. This feature will be available on EverSwap and more native currencies will become tradeable.
EverSwap’s Native Coin Swap feature is only the beginning of the all-in-one multi-chain DEX that the EverRise team is building out. RISE token holders will soon be able to use the multi-chain swap feature to allow them to trade RISE on Ethereum and Binance Smart Chain. EverRise is also planning to offer a multi-chain swap option for RISE. In the future, EverRise may add functionality to enable users to exchange other DeFi tokens traded on Ethereum and Binance Smart Chain.
EverRise is an innovative blockchain technology company that aims to make decentralized finance more accessible by providing security solutions. EverRise offers developers and investors the opportunity to gain access to the largest market possible with maximum security through an innovative network of decentralized apps. They work towards mass adoption safety protocols across Binance Smart Chains, Ethereum and Polygon networks. Currently, they offer five security dApps: EverBridge. EverOwn. EverMigrate. EverStake.
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