Let’s take a look at four decentralized exchanges on the Internet Computer blockchain ecosystem.
Four DEXes in ICP Ecosystem
The Internet Computer is here to create its own revolution inside the blockchain revolution. Using sophisticated on-chain storage technology and concepts like Moon Math, the Internet Computer can scale the entire world of Web3 with faster and more efficient innovations.
The Internet Computer has slowly grown since it launched in 2016 to continue the research from the World Computer organization. Backed by DFINITY Foundation and the Internet Computer Association, the project is the largest research and development project in the blockchain industry. DFINITY alone is responsible for 1564 publications, 86,347 academic citations, and 191 patents.
With its major Chain-key Transaction innovation finally beginning its implementation, the Internet Computer can become, basically, a Layer-2 solution for native coins like Bitcoin and Ethereum. With Bitcoin integration live and coins like Ethereum and BNB eventually on the way, the Decentralized Finance (DeFi) potential on the Internet Computer is bigger than that of Ethereum and Bitcoin because of its interoperability and scalability.
Here we will look at four Decentralized Exchanges (DEX) that have already launched on the Internet Computer.
ICPSwap is a DeFi platform that provides full-stack financial, market, and DAO services. Built using the blockchain technology of DFINITY’s Internet Computer, ICPSwap establishes an ecosystem of genuinely decentralized finance by refactoring the way users and developers build projects together.
Where to find ICPSwap:
The ICLighthouse team was founded in September 2020, with members from investment banks and Ether ecosystem developers. The core members have previously developed derivatives trading protocols on Ethereum. With ICLighthouse, the team has developed a suit of products on the Internet Computer system that include a DEX, DeFi wallet, blockchain explorer, and more. The ICDex is an IC network decentralized order book trading protocol that supports DRC20, DIP20, ICRC1 and native ICP.
Where to find ICLighthouse:
InfinitySwap is an innovative cross-chain DeFi infrastructure creator, connecting Bitcoin and EVM-based chains on the Internet Computer blockchain. InfinitySwap was created by Finity Technologies, a world-leading blockchain infrastructure company. The team at Finity is working to develop new DeFi cross-chain primitives, undertake heavy research and development for cross-chain wallets, and support both Bitcoin and EVM-based chains for exchanges and automated market makers, built on the Internet Computer.
Where to find InfinitySwap:
Sonic is an open DeFi suite open internet service built on the Internet Computer blockchain that offers an AMM without gas fees due to the reverse gas model of the IC. Sonic is made up of a collection of DeFi protocols that enable users to issue their own tokens, trade their tokens, and earn rewards by providing liquidity. Sonic brings users permissionless swaps where they can deposit a token and automatically be returned the token they want.