$WIT listed on SimpleSwap
Just a week after the $WIT coin was listed on LetsExchange, $WIT has found another home in SimpleSwap for more liquidity and volume.
What is Witnet?
Witnet is an innovative layer 1 blockchain network that is single-purpose built for the oracle problem and resolution of data requests. This means it does its job incredibly well. With tens of thousands of nodes operating on the network at any given time, that are cryptoeconomically incentivized to remain honest, Witnet is the strongest and most decentralized oracle in all of cryptocurrency and Web3.
The Witnet network is powered by the $WIT coin, the native coin of the ecosystem. The $WIT coin ensures nodes work within the bounds of the network and not go against it, as they can profit more by doing so.
What is SimpleSwap?
SimpleSwap is an easy yet powerful exchange for over 500 cryptocurrencies. It allows users to trade in and out of any cryptocurrency they want while taking advantage of preferred fees and nearly unlimited liquidity because of the SimpleSwap backend.
Users just need to send the asset they want to swap to the address generated by SimpleSwap, and then input their destination address of the asset they want to receive. SimpleSwap will find the best liquidity offerings for the current market price and swap the assets, sending the desired one to the public address.
Why this is great for $WIT
This integration adds yet another avenue for liquidity for the $WIT coin. This is now the $WIT coin’s 5th integration. Exchanges like SimpleSwap tap into the already strong liquidity and volume of exchanges like Bitmart, Gate io, and MEXC Global.
Miners and network participants can now liquidate their $WIT via SimpleSwap to help them pay for network expenses like cloud storage. Additionally, users looking to trade into $WIT can do so on SimpleSwap to help get the coin for staking and collateral for nodes. More exchanges translates to more network security in the long run.
This is yet another integration that proves Witnet continues to grow in all types of markets. Since May, $WIT has been listed on Bitmart, LetsExchange, and SimpleSwap and continues to find new and exciting ways to grow the reach of the $WIT coin and the Witnet network.
