Published
2 years ago on
July 01, 2021
Firebird Finance, one of the most revolutionary DeFi projects of 2021, is now available on both Polygon and BSC with the most competitive swapping rates on the market.
Firebird’s HOPE token landed on Polygon on June 8th, with an available supply of over 30,000,000 tokens. On the other hand, HOPE-P landed on BSC on June 18th, having a total supply of more than 300,000,000 tokens.
Who is Firebird?
Firebird Finance has several products that are built around its core principles. They develop solutions for both businesses and consumers, with the primary goal of delivering groundbreaking DeFi services and security.
Firebird has a variety of flagship products, with Swap the core component of their ecosystem. In this article, we’ll introduce the Swap V2, the newest product by Firebird and its revolutionary features.
What is Swap?
Swap is an automated liquidity marketplace. In it, users are able to swap a large variety of tokens using a simple-to-use interface. It combines options from various decentralized exchanges (DEXs) across the Polygon ecosystem. The final objective is to give the user the best value possible.
A DEX is permissionless exchange where users can transact tokens by just connecting their wallets without a central authority. They are among the best known use cases for blockchain, and DEXs such as UniSwap can beat trading volumes on Coinbase or Binance regularly.
Of course, prices vary across all of the DEXs on the Polygon Network. For professional traders this may be a huge opportunity, but for a regular user this can be a costly problem. Because finding the best prices among all of the platforms can be hard and time consuming.
To that end, Swap uses an advanced routing algorithm. The algorithm automatically searches for the best rates, and it constantly updates itself in order to bring the best prices for token pairs to anyone using it.
Important to note is that the routing algorithm also looks to minimize the impact of any transaction on the overall market. Exchanges made through Firebird Swap as a result experience minimum slippage.
What is Swap V2?
Swap V2 is the next generation of the Swap platform. It combines the token trading capabilities of the original and merges them with OneSwap. The latter is the stablecoin trade interface of Firebird Finance. Now, both are united under Swap V2.
Additionally, the combination of swapping tokens and stablecoins under a single product has allowed the routing algorithm room to grow. It is now capable of finding the lowest exchange rates and smallest slippage, in both token to token transactions, as well as, stablecoin to stablecoin.
