For the last 12 months the Commonwealth Crypto team has been laser-focused on quietly building the next big piece of critical blockchain infrastructure. Our goal is to solve the most urgent problem holding up large scale adoption of cryptocurrency: theft on exchanges.
Yesterday saw yet another centralized exchange hack, as Cryptopia lost over $2mm. Coins are lost, along with a bit more of the public’s confidence in the broader cryptocurrency ecosystem. Hacks are stifling growth in our new monetary system. Every few months we seem to see yet another headline about millions in coin stolen, and it’s becoming hard to ignore the associated risk with trading on a centralized exchange. Granted, DEX activity is picking up as traders look for more secure trading environments, but DEXes still represent less than 1% of exchange market share. DEX liquidity doesn’t satisfy the market.
Say Hello to Arwen.
Arwen is the solution to this problem. Over the last few years, many centralized exchanges bolstered their security practices and added new safeguards. But the simple fact is that storing large sums of digital currency in a central location will always make them a prime target for theft. Traders regularly sacrifice security in favor of access to market liquidity at centralized exchanges. With Arwen, that tradeoff is no longer required.
Arwen gives you the most secure trading environment without sacrificing speed or liquidity. Arwen brings cryptographic atomic swaps to the mainstream use case of cryptocurrency trading. We partner with centralized exchanges to allow KYC’d traders on the exchange to maintain custody of their coins while they trade. Arwen protects traders’ coins even if the exchange is hacked or goes offline.
We have exciting announcements coming in the next few weeks, so stay tuned! Sign-up here for updates, or email info@arwen.io to inquire about adding Arwen as a feature on your exchange.
