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DEX Aggregator ParaSwap Deploys on Avalanche
It’s already on Ethereum, Polygon and Binance Smart Chain. Now ParaSwap is expanding to Avalanche – with incentivized products in the works.
Updated May 11, 2023, 6:16 p.m. Published Sep 10, 2021, 9:30 a.m.
ParaSwap, a platform that aggregates liquidity across various decentralized exchanges (DEXs) on a given blockchain, is launching on Avalanche.
ParaSwap said Thursday it will ease the execution for trades from 13 of Avalanche’s most popular DEXs, including Sushi, Trader Joe and Pangolin, with plans to integrate Curve and Kyber in the future.
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The integration comes as various base layers look to attract leading projects to their networks. ParaSwap founder Mounir Benchemled told CoinDesk via Telegram that users “will benefit from the $180 million Avalanche Rush incentive program through a new upcoming related product.”
Read more: Can Avalanche Keep It Up? DeFi Users Rush In as Incentives Roll Out
In addition to DEXs, ParaSwap has planned integrations with Avalanche-based lending protocols to allow for interest-rate swaps. Additionally, Benchemled said the project is also working on cross-chain interest swaps in collaboration with multiple Avalanche-based projects.
Projects like deBridge have implemented ParaSwap’s API to facilitate cross-chain liquidity aggregation, he added.
According to CoinMarketCap, the ParaSwap aggregator on Ethereum has processed a 24-hour volume of $14.5 million, and DeBank shows a 24-hour volume of $19.5 million on Polygon.
Benchemled says the platform is targeting an average 24-hour volume of $20 million to $30 million on Avalanche shortly after launch due to “the high quality of service the network is delivering.”
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