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Introduction
Overview of AshSwap and the reasons behind it.

AshSwap is a decentralized exchange built on Elrond that helps users trade between stablecoins with low slippage and small fees.
Not just that, it also aims to bring DeFi to a new level where users are benefited from enhanced yield dynamics and special token use cases.

As much as people like to use volatile assets like Bitcoin as a means of exchange, stablecoins still seem like a better choice for daily transactions. Stablecoins now act as a hedge against volatility, a safe shelter for traders, or an entry for new crypto users. There are many types of stablecoins:
  • Fiat-backed: USDC, USDT
  • Crypto-backed: DAI
  • Algorithmic: UST, FRAX
Different stablecoins provide different use cases in DeFi, which contributes to the prosperity of DeFi as a whole. Sounds great, but there's a problem, what if we want to trade those assets? Prominent AMM DEXs like Uniswap V2, Sushiswap, Bancor, or Balancer all use a method called Constant Function Market Makers (CFMM), or a modified version of it. This works great for normal assets but does not work as well for swapping between stablecoins (or assets that have similar prices like WETH/sWETH), because it results in a high slippage. It is unacceptable for people to swap 1 USDC only to get 0.9 USDT.
To maintain a small enough slippage requires an enormous amount of liquidity (token/money) in the pool, which is not optimal as most of the liquidity is left untouched, and the fees shared between liquidity providers are not so great.

First introduced by curve.fi, stable-swap AMM provides a much better way to trade between stablecoins, and stable-swap exchanges like Curve have become a must-have in every DeFi ecosystem. To learn more about the details, read the original paper here.
Not only does stable-swap AMM provide stablecoins traders peace of mind with peace of mind, but it also unlocks a whole new set of use cases of which we will take advantage and bring DeFi to a new level.

Why do we choose to build on Elrond?
  • We have tested multiple layer 1 blockchains, and Elrond stands out to be one of the most scalable ones.
  • A bigger reason is that Elrond's vision is to bring the next 1 billion normal users to blockchain and decentralized finance, and that resonates with us the most.
  • Now that Elrond's ecosystem is slowly coming to light, we see the lack of a stable-swap DEX, so we figure why not build one.

Follow our handy guides to get started on the basics as quickly as possible:

Learn the fundamentals of MyProduct to get a deeper understanding of our main features:
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Quick Grasp
Stablecoins and the problem
Solution
On Elrond
Resources
Guides: Jump right in
Fundamentals: Dive a little deeper