Why we believe that Multichain Trading with $IOTA is important? (Part I: trading with stablecoins)

This article is the first episode of our DeFi Honeypot column, where we share our ideas and thoughts on DeFi projects. Make sure you follow to receive more content like this!

Reason N. 1: stablecoins and market cap:

Before $IOTA becomes the “fiat currency” of the ecosystem as everyone into IOTA would love to see, stablecoins are still playing an important role for now as a substitution for fiat currencies like USD, especially in measuring the market value of most projects.

More stablecoins, more market cap.

At the early stage of Shimmer, with the market cap of the $SMR being relatively small, and IOTA Layer 1 not yet supporting tokenization, attracting more stablecoins can be tricky, unless, a bridge between $IOTA and stablecoins is built.

And that is exactly where Iotabee comes in.

By enabling the trading pair of Stablecoin / $IOTA, we hope to enlarge the market cap of the whole ecosystem.

Reason N. 2: stablecoins and users

When the IOTA ecosystem is infused with more stablecoins, more users will join, potentially bringing in more assets from other chains.

Through a multichain wallet-to-wallet tunnel built by Iotabee, users can trade with $IOTA using assets from other chains within a few clicks, no need for deposing assets in an Exchange .

The seamless trading experience will encourage more assets to pass into IOTA. These assets can be further contributed to the building of the IOTA/Shimmer ecosystem by trading with other tokens.

Build on IOTA, Build for IOTA.

That’s it for today. Thanks for reading!

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