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Terraswap Official Decentralized Exchange Goes Live on Terra 2.0

source-logo  thecryptobasic.com 02 June 2022 11:30, UTC

Leading community decentralized exchange Terraswap has announced that it has officially made its debut on Terra 2.0. 

The decentralized exchange made the announcement on Twitter today, saying that users can now gain seamless access to asset liquidity on the Terra rebirth network.

Terraswap noted that following its launch on Terra 2.0, several Terra and CW20 tokens will be listed on the platform in order to give users access to more trading pairs.

Interestingly, the developers of the platform urged token developers to reach out to the team via its Discord channel if they want to see their crypto listed on the platform.

“Terraswap is live on @terra_money Terra 2.0, and we can see many projects are getting listed! For token builders, any [token] builder can list! Feel free to ask for support on discord! For users, please provide liquidity and enjoy your swap!,” Terraswap announced.

Terraswap is live on @terra_money Terra 2.0, and we can see many projects are getting listed!

For token buidlers, any buidlers can list! Feel free to ask support on discord!

For users, please provide the liquidity, and enjoy your swap!

Discord: https://t.co/AxeSoYrze6

— Terraswap (@terraswap_io) June 2, 2022

Terraswap Launches as Community DEX

The Terraswap team described the exchange as a community decentralized exchange developed to support the Terra community, adding that the initiative would make the community stronger.

Powered by DELIGHT, Terraswap is an open-source and decentralized protocol for automated liquidity provision on the Terra network. The platform is tipped to provide decentralized trading solutions to developers, traders, and liquidity providers.

At the moment, Terraswap has only two trading pairs such as $ampLUNA – $LUNA and $LunaX – $LUNA. The team behind the DEX plans to add more pairs in the near future.

Efforts to Make Terra 2.0 Successful

Meanwhile, following the launch of Terra 2.0, several decentralized applications (dApps) have indicated interest in continuing to run on the new Terra network.

Recall that after Terra ecosystem tokens, $LUNA and $UST, suffered huge losses last month, the team behind the project decided to launch a new chain with new tokens, as part of efforts to compensate investors.

The new blockchain has been launched while the new $LUNA tokens have been airdropped to holders of the existing ones.

Things are beginning to fall into place with more dApps indicating interest in deploying on the network. As reported, Phoenix Finance became the first decentralized exchange to launch on Terra 2.0.

“Rising from the ashes and entering the realm of Nirvana. We’re thrilled to announce that we will be bringing the first and the best DEX to the Terra 2.0 ecosystem very shortly,” the DEX noted in an announcement.