DeFi: Paraswap launches an NFT platform with its mobile application ParaSwAPP

OpenSea’s New Competitor – L’ecosystem of NFT saw significant growth in the months of July and August 2021. Despite the decrease in transaction volumes, the NFT sphere remains actively followed by the community. In this universe, NFT’s buying and selling platform Opensea has been able to establish itself leader. However, a new platform launched by Paraswap might just redistribute the cards.

ParaSwAPP: An all-in-one mobile application

Paraswap is a DEX aggregator launched in September 2019 by a team of French developers. In practice, Paraswap allows its users to exchange their cryptocurrenciestaking advantage of the best rate of the market. In a few months, Paraswap has become a actor essential part of the ecosystem.

However, Paraswap’s ambition does not stop there. So the June 20the Paraswap teams have announcement the launch of a mobile application called ParaSwAPP.

Paraswap announces its NFT application and platform.

In practice, ParaSwAPP takes the form of a application mobile available on iOS. A version android is also planned.

This incorporates a non-custodial walletallowing users to stay in control of their funds.

For the moment, the application has been launched in beta versionallowing ten thousand users to test its features by preview.

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ParaSwAPP: the challenge of democratization

The application embeds many features whose objective is to promote its democratization.

One of these features will provide access to Paraswap’s DEX aggregator. This allows decentralized exchanges at the best rates on networks Ethereum, Polygon, BNB Smart Chain, Avalanche and Fantom.

A cross-chain NFT platform

This application integrates the first platform purchase and sale of NFT on mobile. Moreover, the purchases are facilitated with the use of any token. For example, the trades of NFT could as well be carried out in ETH than with other tokens such as USDT or the DAI.

Good news, this NFT platform will be compatible with all of chains supported by Paraswap. Thus, you will be able to find NFTs from Ethereum, Polygon, BNB Smart Chain, Avalanche and Fantom. The application should also support second layer solutions in the coming months.

A fiat ramp

In addition, the application includes a fiat ramp, which makes buying cryptocurrencies easier for new users. The service Ramp secure purchases. To celebrate the launch of the application, Ramp even goes so far as to offer purchases cryptos free of charge (excluding purchase on Ethereum) for a period of Three weeks.

ParaSwAPP will also act as a gateway to the Challenge. Indeed, it incorporates various dApps and protocols, allowing store, access and manage your assets in one place without compromising your control “.

Obviously, the security remains a priority for the platform. Therefore, the audit firm Nethemba has carefully checked the entire codedof the app.

In May 2021, the company behind Paraswap raised $3 million from recognized investors in the ecosystem. Enough to allow the development of the platform which has more than65,000 users.

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DeFi: Paraswap launches an NFT platform with its mobile application ParaSwAPP


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