ZeroSwap’s Year in Review: 2020
The inception of a multichain DEX, envisioning ZeroFee Trading and Gasless Transactions
2020 Review:
Some would term it as a dreadful year and would want to erase it from their lives, But for us, at Zeroswap, it was a year which we wouldn’t want to forget for all the right reasons. Just like a baby takes nine months to come to the world, the first nine months of 2020 was the conceptualization stage for Zeroswap.
2020, saw a surge in DEX volumes, with that, the price buzz around ever-soaring gas cost for on-chain trading, had been in the news. Our first nine months went in finding a solution that could eliminate gas’s impact, empowering users with a seamless on-chain trading experience, without worrying over gas cost or trade fee.
Vision for Zeroswap, Launch, and Partnerships.
With a vision already in place, September 21st saw the official launch of Zeroswap — a Multi-chain protocol with Liquidity Mining, DeFi Token Offering, and DEX Aggregation.
Vision: Zeroswap is conceptualized as a multi-chain Dex Aggregator protocol, which will enable users to trade on numerous DEXes from a single UI/UX. No switching of tabs.
Once a user trades on ZeroSwap, he can access DEXes based on Ethereum, Binance Smart Chain, Elrond etc from a single UI, stay assured of getting the best rates, earn reward every time they make an on-chain trade and provide liquidity to existing DEXes. By design, all the transactions on it would be Gasless with Zero Trade Fee.
September also saw our first strategic partnership with Frontier protocol, a chain-agnostic DeFi Aggregation Layer, and the most widely used DeFi suite via which users can access their DeFi positions on various protocols. This collaboration will provide Frontier users with an opportunity to trade on ZeroSwap DEX, stake ZEE tokens, and earn rewards for providing liquidity to AMMs.
Zeroswap Litepaper
October, we released our Zeroswap Lite paper, an exhaustive document that provided the community with insights about our vision and product features. We offered a snapshot of our key product features through our lite paper, including Gas-less Transactions, Zero on-chain fees, Governance, Liquidity Mining Rewards, and DEX Aggregation, and how developer-friendly our protocol was.
The Fundraise, Multi-chain Integrations, and Audits.
October also saw us raise our first round of funding when we secured USD 2.2 million (6000ETH), in seed backed by strategic investors and angels — AU21, TRGC, GenBlock, Alphabit, M6, and Pranav Sharma (Founder — Woodstock Fund), Lester Lim (X21 Ventures). This funding was critical as it helped us build a multi-chain protocol, with DEX aggregation underline, offering utilities like Dex Token Offering and a market-making suite.
This month also gave us our first multi-chain integrations with Ethereum, Binance Smart chain, and Elrond Network. We were now ready to allow our users to switch between blockchains and trade from a single UX.
Soon as we gathered steam, we got another market validation as Peckshield audited our $ZEE smart contracts. With the audit in place, we just wanted to assure the community that we weren’t just visionary and ambitious but also security and safety was our highest priority.
The audit also gave us confidence, and soon we launched our $ZEE on Uniswap and Mooniswap. The base price was 0.0004 ETH against the $ZEE token, and the initial liquidity on Uniswap would be 200 ETH against 500000 $ZEE, and the initial liquidity on Mooniswap was 200 Eth against 500000 ZEE. After the first listing two, we moved to MXC Exchange and Blockfolio that gave us our third listing and fourth listing
Just as we were a few days away from November, we got another strategic partnership in place, this time with Covalent, which empowered DEX users with better trade visibility on trades, with order book exports and tax filing data
With all set for November, we partnered with Altonomy, trading, advisory, and asset management firm, which is known for its institutional grade liquidity solutions. Altonomy agreed to empower $ZEE on every exchange it gets listed.
As we moved into December, we got DIA data onboard, which empowered our DEX aggregation bringing together data analysts, data providers, and data users, thus providing an authentic, trustworthy, and auditable bridge between off-chain data from various sources and on-chain smart contracts
While most of our 2020 went into conceptualizing and creating a protocol that would change the way Defi functioned, the last quarter saw us doing a lot of work. As we stand on the cusp of 2021, we have our plan in place, and our checklist is ready as to where we move from here. You would soon have an insight into all this as we release our roadmap in a few days, followed by a significant announcement in another few days to come concerning our product.
With so much more to come, we at Zeroswap would want to wish you a very Happy New Year 2021 and thank you for all the support you have provided us. We hope the coming year would garner more support from the community as we move step by step towards achieving our ultimate vision of being gasless.
