SAN JOSE, Calif., Sept. 06, 2021 (GLOBE NEWSWIRE) — Meter.io, MeterSwap, a Uniswap V2 fork completely running on the Meter mainnet, has officially been renamed VoltSwap. Voltswap is a front-running resistant DEX on the Meter.io blockchain which aims to provide enhanced security for its users in a way that is yet to be available on current Layer 1 or Layer 2 swap solutions. Along with the new name, VoltSwap will feature more cross-liquid mining programs with other projects and introduce a forum for governance discussions and on-chain voting, among other developments.
VoltSwap is a community-driven project and the first DEX on the Meter Blockchain. VoltSwap allows users to swap a variety of tokens, earn APY, and maximize yields, all on the most decentralized Layer 2 scaling platform. VoltSwap allows for lightning-fast transactions with low gas fees while being fully decentralized and front-running resistant. VoltSwap also includes cross-chain arbitrages and is able to onboard exchange DeFi chains with limited restrictions. VoltSwap creates an ERC721 NFT contract-based smart wallet for each user, where they can subscribe to as many liquidity mining programs as they want, without the tokens ever leaving their wallets. Meter.io believes this smart wallet design will become the standard for liquidity mining on the Meter network.
The platform will also feature a governance token, VOLT. Users will be able to earn VOLT as a liquidity mining reward starting from Sept. 9th, which will provide them voting rights. Token holders will be able to submit and vote on proposals for new listings, changing parameters of the liquidity mining programs, the use of the community treasury, and other key decisions about the project.
Since the Meter Passport connects to multiple chains, VoltSwap provides the swap capability for swapping assets from different chains to facilitate cross-chain arbitrage and onboarding various exchange chains without KYC restrictions. On VoltSwap, users can also stake across multiple chains due to its cross-chain functionality. For example, VoltSwap will have trading pairs between USDT from Ethereum and BUSD from BSC.
The platform will also feature staking and liquidity mining, which, on VoltSwap, are designed to encourage token utility and community engagement. As such, the platform only includes stake and unstake operations for its liquidity mining program. More information about this can be found in VoltSwap’s Lite Paper.
Meter is DeFi infrastructure with a built-in, crypto-native, metastable currency, MTR. It uses HotStuff based PoS consensus with MTRG (Meter Governance Token) to manage the blockchain ledger. Meter functions as a highly decentralized, high-performance side chain for Ethereum and other public chains.
VoltSwap Lite Paper: https://docs.voltswap.finance
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