COTI and MeowSwap, a Layer 2 decentralized Exchange (DEX) built on Cardano have just announced a partnership.
The duo are keen to provide immense DeFi benefits to current Cardano users, as well as to those who seek Decentralized Finance based on scalability, accessibility, transparency, peer review, and true decentralization.
One of the first things the alliance hopes to accomplish in this partnership will be the pool creation of ADA & DJED, as well as a pool of MEOW & DJED.
Likewise, this means that aside from MEOW and ADA being tradeable with these new pairs, it will also be possible to provide liquidity to these pools in DJED, along with ADA, effectively strengthening the Cardano ecosystem.
“DJED stablecoin is set out to be listed & utilized on many Cardano DEXes in the future and we are looking forward to this bloom of the Cardano DeFi that will be facilitated through such a development. Whether MeowSwap will be the first to do so, will remain yet to be seen — but we are certainly thrilled to witness new DJED stablecoins partnerships that will benefit the entire ecosystem. Which we are proudly a part of.” Said by MeowSwaps founder, Gleb Nikitin.
If you missed COTI’s recent Djed development update, you can find it Here.
MeowSwap is a Layer 2(L2) decentralized exchange solution that uses Layer 1(L1) for secure storage of assets whilst taking away the computational load from the L1 networks. It’s the best of two worlds offering users the security of L1 based DEX’s, and the speed that nearly matches CEX systems. By utilizing the L2 solution it allows almost real time trading and a vast array of instruments like perpetual contracts, programmable trading scripts, postponed execution, copy-trading scenarios and much more.