Well-known as a top-notch decentralized finance platform, TrustSwap has recently disclosed details of its upcoming Swappable marketplace.
In line with this, SYNC has shown interest in TrustSwap’s soon-to-launch Swappable marketplace. TrustSwap Swappable is a DeFi NFT and ERC-20 marketplace. This integration will bring to life more exciting use cases of the DeFi ecosystem.
TrustSwap is well-known for its focus on improving the functionality level of the entire DeFi ecosystem. Its proposed Swappable and Tokensale launchpad will further facilitate the introduction of more functions to the DeFi space.
SYNC and the DeFi NFT Space
SYNC, in an official blog post, confirmed the partnership with TrustSwap Swappable. TrustSwap believes its proposed Swappable functionality is a worthy competitor to top players in the DeFi NFT space like Rarible and Opensea. The DeFi platform hopes to address several issues ignored by these top players in the DeFi NFT space, such as giving back to the community for using the platform.
SYNC Network further hopes to help bring these plans to fruition. It functions by creating and allocating NFT bonds that are designed to store locked liquidity. These NFT bonds are, furthermore, tradeable on any other NFT marketplace. Subsequently, making it possible for interested persons to both trade and acquire interest on their Liquidity Provider tokens. This is made possible via SYNC CryptoBonds and open NFT marketplaces.
While OpenSea and Rarible are top-notch NFT marketplaces, the SYNC and TrustSwap partnership brings more to the NFT space. SYNC maintains that Rarible and OpenSea categorize NFTs as “just artwork and things of the like,” although CryptoBonds are also available on OpenSea. SYNC, alongside support from TrustSwap, has an outlook on CryptoBonds that is more diverse, i.e., beyond a financial outlook. SYNC provides important features like the ability to exit a CryptoBond at any point.
More Details on the Partnership
According to SYNC, TrustSwap Swappable is the best choice because its fees are much lower when compared to that of competing platforms. Even more interesting is the fact that a whopping 80% of fees acquired is paid back to TrustSwap SWAP token stakers.
Interested persons are advised to ensure they actively stake SWAP tokens while trading CryptoBonds. The SYNC Network will, furthermore, whitelist the TrustSwap SWAP token for CryptoBond creation.
Recently, we covered exciting updates expected on TrustSwap with its Launchpad projects taking the lead.
At the time of publication, SWAP was trading at $0.494501, with a market cap of $32,051,063 and a 24-hour trading volume of $1,590,010.
SYNC was also trading at $0.03287895, with a 24-hour trading volume of $130,651.
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