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Yuzu Swap, the first decentralized exchange in Oasis, will exceed $ 100 million in TVL within 13 hours of launch

Yuzu Swap, the first decentralized exchange on the Oasis Network, witnessed tremendous recruitment after its launch on January 11. This shows the growing need for decentralized finance (DeFi) protocols. According to the exchange, YuzuSwap will bring the total locked value (TVL) (also understood as the total amount of assets bet on the decentralized protocol) to $ 100 million (about 74.142 billion rupees) within 24 hours of the start of operations. ) Was managed. In 24 hours, the transaction volume reached $ 323 million (approximately Rs 2,394.66).

YuzuSwap was created in a smart contract ecosystem that is fully interoperable with the Ethereum virtual machine, Emerald by Oasis Network. This is a unique, scalable and versatilely designed Layer 1 decentralized blockchain network with an emphasis on privacy. YuzuSwap is a peer-to-peer automated trading of token and non-fungible token (NFT) assets from six other blockchains over Ethereum and the Oasis ecosystem, as well as low-cost token swap products. I am using a market maker.

YuzuSwap debuted on the same day that Binance Labs, the venture capital arm of the cryptocurrency exchange, announced an investment in Oasis Network’s $ 200 million developer fund. Funded by Hashed, Jump Capital, Dragonfly Capital and others, the Oasis Ecosystem Fund was created to help businesses built on the Oasis Network get going.

The involvement of Binance Labs has created positiveness and significantly increased the value of ROSE, Oasis Network’s native cryptocurrency. According to CoinGecko, ROSE rose more than 25% last week and is trading above $ 0.50 at the time of issuance.

In November 2021, the Oasis Foundation launched an ecosystem fund of $ 160 million to support the founders and developers of the Oasis network and ecosystem. Decentralized exchanges dominate the DeFi market in terms of locked total value. According to data released by DeFiLlama, 14 DEXs have reached at least $ 1 billion in TVL at the time of publication.

In November 2021, the Oasis Foundation launched an ecosystem fund of $ 160 million to support the founders and developers of the Oasis network and ecosystem. Decentralized exchanges dominate the DeFi market in terms of locked total value. According to data released by DeFiLlama, 14 DEXs have reached at least $ 1 billion in TVL at the time of publication.


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https://gadgets.ndtv.com/cryptocurrency/news/yuzuswap-decentralised-exchange-oasis-network-record-tvl-after-launch-2707862#rss-gadgets-all Yuzu Swap, the first decentralized exchange in Oasis, will exceed $ 100 million in TVL within 13 hours of launch

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