Centric Has Gone Cross-Chain on FibSwap.
COO Tommy Butcher announced Centric Swap (CNS) has been listed on FibSwap, a decentralized exchange (DEX) and cross-platform swap that launched earlier this year. While most DEXs and swaps are blockchain-specific, FibSwap’s Cross Swap allows token exchanges across blockchains.
“The Centric Swap listing on FibSwap will expand CNS availability beyond the Binance Smart Chain ecosystem, offering holders of tokens on Ethereum, Polygon, and Fantom the opportunity to access Centric,” said Butcher.
According to the FibSwap whitepaper, “FibSwap is as simple as choosing the network and token you’d like to swap from, then choosing the network and token you’d like to swap to and hitting a button to make it happen. If you’ve ever used Uniswap or PancakeSwap, you’ll know just how easy they are to use. FibSwap will be just as easy but much more powerful.”
Butcher said, “FibSwap’s interoperability multiplied the number of trading pairs for Centric Swap overnight.”
A spokesperson for FibSwap, “We’re excited to introduce Centric to the FibSwap community, and to crypto investors across all of our supported blockchains.”
What is Cross-Platform Token Swapping?
For those unfamiliar with cross-blockchain token swapping, here’s an explanation.
Uniswap, an Ehtereum based decentralized exchange, is the largest and most well-known DEX. Uniswap allows users to trade one ERC-20 (Ethereum) token for another ERC-20 token.
PancakeSwap, another DEX, runs on Binance Smart Chain (BSC). While PancakeSwap resembles Uniswap, as a BSC-based exchange, PancakeSwap only allows users to trade between BSC-compatible (BEP-20) tokens.
FibSwap’s Cross Swap allows users to swap tokens between different blockchains as easily as swapping tokens on a single chain. The FibSwap DEX currently supports cross-chain swapping of tokens from the Ethereum, BSC, Polygon, and Fantom blockchains.
Centric was conceived with the vision of one day replacing traditional fiat currencies. Blockchain technology will enable a more transparent world and we believe our innovative approach to achieving widespread adoption long-term sets Centric apart from other cryptocurrencies today.
We believe the largest obstacle to the mass adoption of cryptocurrencies is price volatility. Cryptocurrencies, unlike fiat currencies, do not have a central bank to implement monetary policy focused on stabilizing purchasing power. Thus, changes in demand induce massive price fluctuations. The decentralized model to price discovery has made most existing cryptocurrencies nothing more than stocks or commodities, valued on psychology, traded on unregulated stock markets, and susceptible to manipulation. The lack of price stability has prevented credit and debt markets from forming because volatility incurs a premium.
While the rest of the industry focuses on transaction throughput and smart contracts, we focus on solving price stability to realize the economic capabilities that the blockchain enables.
FibSwap’s vision is to be the go-to DeFi solution for swapping crypto assets across blockchains. The FibSwap DEX is an Interoperable Multichain Bridge System (IMBS) DEX which uses the FibSwap Smart Algorithm to facilitate token swaps from one chain to another in a seamless, instant transaction. The FibSwap DEX helps cryptocurrency users save valuable time and money swapping tokens between platforms.