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NovelSwap DEX goes live on Public Mint Mainnet

The Public Mint logo side by side with Plutos Network logo

We are thrilled to unveil the first-ever independently built DApp on the Public Mint blockchain: The NovelSwap DEX, built by reputable development group Plutos Network.

In the context of Public Mint mainnet, Novelswap enables you to trade tokens against USD without ever leaving the Public Mint blockchain.

Not only does the launch of this DApp mean that anyone can immediately start trading MINT tokens for native USD, but also that any new project that builds on Public Mint may use NovelSwap for trading, adding to the toolbox that developers can call upon.

What is NovelSwap?

The first ever DEX on Public Mint

NovelSwap is a multi-chain decentralized exchange, built from scratch by Plutos Network — an exception to the “let’s just fork Uniswap” rule followed by most new players in the DEX space.

The DEX was released in October last year on the Public Mint testnet. After being extensively tested (not just on Public Mint, but also on Binance Smart Chain and Ethereum), it’s finally been deemed ready for its Public (Mint) debut.

Why NovelSwap?

Tapping into the opportunities provided by the Public Mint blockchain, Novelswap brings some unique new features when compared to other DEXs out there.

A table comparing features between NovelSwap and other decentralized exchanges
  • No buyer trading fee: NovelSwap charges sellers a trading fee of 0.5%, and no fee whatsoever to buyers. This is especially important for startups looking to build on Public Mint, who can now get a much fairer price action while launching their projects.
  • Low-cost, fixed gas fees: leveraging Public Mint’s fixed gas fees, Novelswap will not add to them. It is currently capped at $0.06 for buying and $0.15 for selling, regardless of trading amount.
  • 4 second confirmation: due to Public Mint’s fast blockchain confirmation time and instant finality, swaps only take an average of 4 seconds.
  • Easy funding from and to your bank account: you can deposit and withdraw funds from your Public Mint wallet either via bank transfer or via USDC stablecoin.
  • Liquidity transparency: any time a project deposits liquidity into NovelSwap, a time lock must be set. This info is clearly presented in NovelSwap and readily available for anyone to verify.
  • Secure transactions: when selling tokens, only the exact amount required for that trade will be approved at each transaction. This way, should anything go wrong, the funds stored in your wallet are perfectly safe.
  • Startup fostering: NovelSwap has an optional fee that project owners can implement, aimed at helping their project during the early development stages and supporting an environment that leads to healthy price action and lower sell pressure. The special fee collected is paid to the project owner’s wallet, who can then use it to redistribute to holders or to further their development.

This is the first of many applications to be built on top of Public Mint’s blockchain — and we’re really psyched to see it out there.

Feel free to head to NovelSwap and take it for a spin — no ETH fees anywhere!

While you’re at it, check out Plutos Network’s article on launching NovelSwap.

Thank you, and see you on the other side 🟢

Disclaimer

NovelSwap has been created by the aforementioned independent developers who assume full responsibility for its operation.

Public Mint has not verified the code or contents of the application, and therefore takes no responsibility or liability for its use, or for any implications that may arise from using it. Please do your own research before using any application by third parties.

About Plutos Network

Plutos Network is a multi-chain synthetic issuance & derivative trading platform which introduces mining incentives and staking rewards to users. By integrating blockchains such as Solana, Polkadot, and BSC, enabling on-chain and cross-chain liquidity and trading, Plutos Network is to offer users synthetic issuance and trading services for a wide range of synthetic products which are sustainable, profitable, and disruptive to the traditional derivative market.

Email | Twitter | Medium | LinkedIn | Telegram | Announcement | GitHub | Telegram Korea

About Public Mint

Public Mint is an open and complete blockchain platform for fiat money, where funds are fully collateralized and held on deposit with regulated, FDIC-insured institutions. Public Mint offers an open, fiat-native blockchain and APIs, ready for anyone to build fiat-based applications and accept credit cards, ACH, wire transfers, stablecoins and more. On top of that, the Public Mint EARN platform offers users automated and diversified returns on USD assets, leveraging the power of blockchain and DeFi.

Website | Litepaper | Telegram Group | Telegram ANN | Twitter | LinkedIn | Medium | YouTube | FTX/Blockfolio

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