Allows users to exchange assets from multiple networks
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Introduction to Multichain Transactions
One of the biggest problems in the blockchain sphere nowadays is the interoperability. We have plenty of different blockchains, but they are standalone, isolated systems that cannot communicate to each other in a decentralized, secure and transparent way. E.g. there is no way to transfer data or value between Ethereum and Bitcoin blockchain in purely decentralized way…
A lot of teams are searching for solutions to this problem. There are some second layer solutions, oracles, even new blockchains that are trying to handle this interoperability mess.
There are also another class of solutions working on the first layer. They are decentralized, secure and transparent. Although, currently these solutions are not very fast and user friendly, we truly believe this would be improved. The solution that we mean is called Multichain Dex AMM.
Raccoon Swap Multichain Dex AMM
Raccoon Swap Multichain Dex AMM is a new DeFi protocol build on Binance Smart Chain. Raccoon Swap Multichain Dex AMM allows user to exchange any assets from multiple blockchains using bridge modules. The cross-chain bridge is to connect Binance Smart Chain with another Blockchain Network.
Raccoon Swap user are allows for all the following
- Trade BSC, ERC20, HECO, MATIC Asset and more
- Provide liquidity to the exchange and earn fees
- Stake your LP (liquidity provider) tokens to earn Raccoon token or
- tokens of other projects
- Stake Raccoon to earn more Raccoon
- Stake Raccoon to earn tokens of other projects
- Stake other token to earn Raccoon
Are We Working To Provide Solutions ?
Raccoon Swap Multichain Dex AMM solution is innovative and uses Hash Time Locked Contract. HTLC is a class of payments that use hashlocks and timelocks to ensure one the following:
- The receiver acknowledges receiving the payment prior to a deadline by generating cryptographic proof
- The receiver refuses to claim the payment, returning it to the payer
Next Steps
Raccoon team will need the following components to build user-friendly MVP for Multichain Dex AMM:
- Create and Improve Smart Contract on BSC, ETH, HECO, MATIC, DOT
- Create and Improve UI/UX (frontend)