Stackswap stitches together some of the existing DeFi tools within the Stacks network and enables users to engage in swaps, liquidity mining, token creation, and yield earning opportunities
DeFi on Bitcoin
Stackswap, who recently announced their $1.3 milion funding round, uses the power of the Stacks blockchain, allowing for Bitcoin-powered smart contracts and innovation on Bitcoin. Users can engage in DeFi on Bitcoin through yield earning opportunities including Stacking which allows Stacks token holders to earn bitcoin yield.
Stackswap also offers several other trading tools including arbitrage, market forecasting, and aggregate opportunities from other DEXs on other blockchains. With the successful launch of Arkadiko, a self-repaying loan platform built on Stacks, users of Arkadiko can use Stackswap to swap Arkadiko tokens or Arkadiko’s stablecoin, USDA for additional earning opportunities.
“There are a few vital pieces missing within the Stacks ecosystem when it comes to DeFi and Stackswap acts as the key that unlocks full DeFi potential for Bitcoin. I worked with my team to create something that would support the growing demand for DeFi tools on Bitcoin and we decided that a full-service DEX would have the strongest impact on the community,” said Stackswap CEO Sungmin Aum.