Cryptocurrency has experienced rapid growth since its inception, but the lack of regulation has led to “wild growth,” triggering several high-profile crashes. Users of centralized exchanges (CEX) must place complete trust in the exchange and entrust their assets to its custody. Since CEX transaction data is stored on the exchange’s own servers and the transactions are not transparent, the risks are significant. Due to concerns over asset security and transaction transparency, decentralized exchanges (DEX) have gradually developed in recent years. Almost every major blockchain network has its own well-known decentralized exchange, and the Openverse ecosystem also requires a decentralized value exchange market.
In this historical context, OpenSwap was born. OpenSwap is a DEX operated by the Open Foundation. In addition to being a regular token and NFT exchange, OpenSwap has introduced new types of exchanges due to the emergence of new asset categories like Bitcurrency, Privcurrency, and Bitsecurity.
Firstly, the Bitcurrency exchange, a secondary market, consists of trading pairs formed by Bitcurrency and Bitgold. There are over 200 trading pairs, such as USD/BTG, EUR/BTG, CAD/BTG, etc. This exchange enables the mutual exchange of all Bitcurrencies using Bitgold as an intermediary.
Secondly, the privcurrency exchange consists of trading pairs between privcurrency and Bitcurrency. Any privcurrency issued by a company can form a trading pair with Bitcurrency, such as KUSD/USD, PUSD/USD, etc. Additionally, external cross-chain privcurrencies can also form trading pairs, such as USDT/USD, PyUSD/USD. This exchange facilitates the mutual exchange of all corporate stablecoins and privcurrencies with Bitcurrencies.
Thirdly, the Bitsecurity exchange consists of trading pairs between Bitsecurity and Bitcurrency, such as TESLA/USD and APPLE/USD. This will serve as an alternative to the stock market. This part of the trading will be regulated by sovereign states.
OpenSwap will truly build a decentralized value exchange market on the Layer0 and Layer1 of Openverse, offering multi-level and multi-category exchanges that promote transparent and open trading, eliminate manipulation by CEXs, and create a unified global value circulation market.
A completely decentralized value exchange marketplace
Openverse has its own decentralized trading platform, which integrates currency issuance, currency exchange, token exchange, and NFT exchange.
