Swingby

Copy link
Share on X

Claim company
Report company

Description

Swingby is a decentralized finance (DeFi) protocol that facilitates seamless asset swaps between blockchain networks such as Bitcoin and Ethereum, bypassing the need for centralized exchanges. At its core is the Skybridge, a decentralized cross-chain swap protocol powered by the Metanode network, offering fast, secure, and trustless token swaps without extensive KYC requirements. Launched in 2018 on the Ethereum platform, Swingby employs a proof-of-stake model and enables decentralized custodianship by locking BTC in Hashed Timelock Contracts (HTLCs) and creating ERC20 Bitcoin tokens on Ethereum. Users can lend BTC in return for ERC20 tokens, maintaining a soft-peg, and create collateralized debt positions (CDPs) similar to MakerDAO's DAI. Governance tokens are used for community voting on protocol decisions. With 889,788,091 SWINGBY tokens in circulation and activity on 32 markets, Swingby enhances cross-chain liquidity and security in the DeFi ecosystem. For more details, visit their official website at [Swingby](https://swingby.network).

Socials

Similar companies

Swing

Swing is a DeFi aggregator for cross-chain liquidity, enabling token swaps on multiple blockchains, enhancing DeFi interoperability with competitive rates.

Swivel Finance

Swivel Finance, a DeFi protocol on Ethereum, offers fixed-rate lending and interest rate derivatives, allowing users to manage yield potential and rate volatility.

Swapnet

Swapnet is a DeFi platform enabling cross-chain swaps with an intuitive interface, reducing fees and slippage via liquidity pools, and ensuring security through decentralization, promoting blockchain interoperability.

Swing Ventures

Swing Ventures invests in early-stage startups innovating in blockchain, crypto, and Web3, providing capital, mentorship, and strategic partnerships to foster dApps, protocols, and infrastructure growth.

Swapy Network

Swapy Network offers decentralized credit access with 3 apps: Swapy Exchange for global borrowing, Swapy Financial ID for user-controlled credit identities, and Swasy DataMarket for trading financial data.

Swing Bydney

Swing Bydney empowers compassionate AI model development with its $PLSR token, supporting AI companionship, infrastructure, and creativity.

SWYP Foundation

SWYP Foundation tokenizes real-world assets on Binance Smart Chain, blending traditional finance with decentralized systems to enhance liquidity and transparency.

SWFT

SWFT is a cross-chain transfer solution combining blockchain, machine learning, and big data for secure, fast, and efficient cryptocurrency exchanges without intermediaries, supporting a wide range of cryptocurrencies.

BinarySwap

BinarySwap is a DeFi platform offering seamless token swaps, yield farming, and liquidity mining, all powered by smart contracts for secure and efficient transactions on its AMM-based interface.

Swim Protocol

Swim Protocol is a cross-chain liquidity network enhancing DeFi interoperability by allowing seamless, secure token swaps across blockchains, aiming to address liquidity fragmentation and improve asset flows.

TrustSwap

An Evolution in DeFi Transactions with a Comprehensive Ecosystem.

Ballswapper Accelerator Reflection

Ballswapper, a decentralized Ethereum protocol, empowers users to swap tokens, create markets, add liquidity, and stake assets efficiently.

FAQ

What is Swingby and its primary purpose in the DeFi space?

Swingby is a decentralized finance (DeFi) protocol designed to enable seamless asset swaps across different blockchains, including Bitcoin and Ethereum, without relying on centralized exchanges. Its primary purpose is to facilitate secure, decentralized, and fast cross-chain swaps, thus improving liquidity and interoperability across blockchain networks.

How does Swingby's Skybridge enhance cross-chain asset swapping?

Swingby's Skybridge is a decentralized cross-chain swap protocol that allows for secure and trustless token swaps between blockchains. This technology is powered by the Metanode network, enhancing transaction speed and security without extensive Know Your Customer (KYC) processes, thereby preserving the decentralized nature of the swaps.

What are the main benefits of using Swingby over centralized exchanges?

Using Swingby offers key benefits such as decentralized and trustless swaps, minimizing the need for intermediaries, retaining user privacy without KYC, and providing liquidity across multiple blockchains with minimal slippage. This makes it an attractive option for users seeking security and autonomy in their DeFi interactions.

How does Swingby compare to other DeFi protocols offering cross-chain swaps?

Unlike many DeFi protocols, Swingby focuses on a decentralized custodian approach that ensures smooth interoperability between Bitcoin and Ethereum, using mechanisms like Hashed Timelock Contracts (HTLCs). By leveraging proof-of-stake security and governance tokens for protocol decisions, Swingby maintains a high level of decentralization, setting it apart from alternatives.

What role do governance tokens play in the Swingby ecosystem?

In the Swingby ecosystem, governance tokens are crucial for community voting on important protocol decisions, such as selecting network witnesses and monitoring Oracle price feeds. This democratic process ensures that the protocol remains decentralized and responsive to community needs, enhancing trust and functionality.

What should I do if I'm having trouble performing a cross-chain swap with Swingby?

If you encounter issues with a cross-chain swap on Swingby, ensure you are following the platform's guidelines correctly and have the necessary tokens and collateral. Visit the official Swingby website or community forums for troubleshooting tips and support from other users. Staying updated on any protocol changes can also help avoid common issues.

FAQ

Company is unclaimed. Do you work for or own this company?

Description

Socials

Tags