For some time, Elastos faced hurdles related to liquidity and accessibility. Relying on centralized exchanges went against the principles of decentralization, and earlier cross-chain bridging and DEX efforts involved high-fee bridges and complex swap mechanisms, which often fell short, frustrating the community and hindering growth. The initial partnership with Chainge Finance marked a crucial turning point, laying the groundwork for a more streamlined and user-friendly DeFi experience. So, let’s jump in and go through the latest developments!
Liquidity Boost and New Chain Integrations
Recently, Sasha Mitchell’s proposals, #167 & #168, which were in response to the integration of Chainge and aimed at raising Elastos’ liquidity on the Chainge platform, were successfully passed. This led to the addition of 197,152 USDC matched with 80,000 ELA, significantly boosting liquidity and reducing slippage. This is a key advancement for Elastos, which aims to offer a smoother and more predictable trading experience for its users.
Solana x Elastos Cross-Chain Swaps Launch
Solana has been added! This addition expands the options for direct swaps and trades with ELA on the Elastos Smart Chain (ESC), immediately tapping into the provided liquidity. This joins the long list of interconnected blockchain networks that can trade ELA with one click. These include Fusion, Ethereum, BNB Chain, Avalanche C, Polygon, Aurora, CoreDAO, Syscoin NEVM, Arbitrum, Optimism, Base, Linea, Polygon zkEVM, opBNB, Syscoin Rollux, Tron, Koinos, Merlin Mainnet, and X Layer Mainnet. This not only gives users more choices but also has the potential to offer better pricing and enhance the overall ecosystem experience.
Fiat On/Off Ramp Launch
Finally, Chainge Finance have enabled a fiat on/off ramp for ELA and the Elastos Smart Chain. Users can now purchase ELA directly using their bank accounts, bypassing the often clunky process of acquiring cryptocurrency via traditional exchanges. This feature represents a major advancement, allowing participants to move easily between traditional finance and the decentralized world of Elastos. The ability to trade ELA with fiat using bank accounts provides a simple entry point into the Elastos ecosystem, serving both crypto-native users and those entering the space from traditional financial backgrounds.
The added liquidity and the fiat on/off ramp positions Elastos as a more accessible SmartWeb. Whether you’re a long-time supporter or new to Elastos, these changes mean better access, reduced costs, and a more dependable experience overall. Explore the new features on Chainge Finance today to experience these updates firsthand. Engage in community discussions, stay informed about future developments, and help shape the future of Elastos. Visit the Chainge web dapp or download the mobile app (android / IOS) to start interacting with these new features now! Did you enjoy this article? To learn more, follow Infinity for the latest updates here!
