MetalSwap's dApp Lands on Optimism's Layer-2: Welcome to a New Era of Hedging Swaps
Dear MetalSwap Community,
we are thrilled to announce the successful bridging of our Hedging Swap tool and the XMT token to Optimism's Layer-2, marking a significant milestone in our journey. MetalSwap’s Hedging Contracts, namely Hedging Swap tool with its XMT Governance token are now Live and usable on Optimism's Layer-2, as voted by the DAO on the MIP-3 Official proposal.
This launch follows a successful community vote on MetalSwap’s DAO, which emphasized our commitment to decentralization and community governance. We extend our deepest thanks to each participant in the voting process, your involvement strengthens our resolve and propels us forward.
Scaling The Tool
Moving forward in our ambitious timeline, MetalSwap now allows Optimism’s Layer-2 users to hedge against the volatility of three significant assets: ETH, WBTC, and the newest addition, OP. By integrating these assets with the stablecoin USDC, we provide an enhanced method to guard your investment portfolio against the notorious volatility of the crypto market, thereby bolstering your journey towards financial sovereignty.
The evidence provided by the team demonstrates how the cost to open a position has significantly decreased compared to the cost on the Ethereum Mainnet. It has been observed that the cost to open a Hedging Swap ranged from $10 to $80 on Ethereum, while the initial positions opened on Optimism Chain had a cost of around $0.05. This vast difference allows this tool to be accessible to anyone.
Hedging Swap Dashboard - Protecting from ETH price increase
Hedging Swap Grant 20k OP Liquidity Reward
One of the salient features we're proud to introduce is the Hedging Swap Liquidity Reward, which comes thanks to the OP Grant winning. In the initial phase, for select types of swaps, MetalSwap’s platform will provide a Liquidity Reward in OP for the Premium you incur when opening a new hedging swap. In simple terms, your entry into hedging positions is incentivized right from the beginning. We’ll delve into this topic very soon ;)
As we can see from this screenshot, the initial incentive to open a Hedging Swap will be very high, and it may happen that one will receive more in $OP token value than what is spent on the premium.
Our easy-to-navigate dashboard above shows the simple steps to get started with the Hedging Swap and how you can be a beneficiary of the Hedging Swap Liquidity Reward. It's time to turn the volatility to your advantage!
Liquidity Providing NFT Staking 10k OP Reward
We are also proud to announce another juicy opportunity that arrives with our Optimism's Layer-2 integration – the NFT Liquidity Providing OP Reward for staked position. In this exciting new development, when you decide to stake your Liquidity providing NFTs until the end of the staking period, you become eligible to participate in the OP Grant token distribution.
L2 Hedging Swap
The introduction of these features – the Hedging Swap Liquidity Reward and the NFT Liquidity Providing Reward – demonstrates MetalSwap’s commitment to bring unparalleled rewards to the users. The forward-looking strategies continue to reinforce our position as a pioneer in the decentralized finance & Hedging Contracts space.
We believe these opportunities will provide unprecedented potential for our community members to leverage the power of DeFi, and secure significant earnings. We encourage you to engage, explore, and make with us the most of these groundbreaking features. The revolution has begun, and we are thrilled to have you on this journey towards an empowered and decentralized financial world.
Your support has been monumental to our development, and we look forward to reaching new heights together. Let’s continue to redefine the possibilities of cryptocurrency and set new standards in blockchain technology.
As shown by this official tweet, the hot week has just begun.
Stay tuned, stay excited, and stay engaged!
What a time to be in DeFi!
To the MetalSwap
… and beyond!
❗ METALSWAP ‘s admins or moderators will NEVER contact you directly on any social under any kind of circumstances.
❗ Everything concerning $XMT ‘s smart contracts and addresses is shared by our official channels (list below), do not trust any different info from any different source.
-The DeFi Foundation
✎ What is MetalSwap?
With MetalSwap we enable Hedging Swap transactions through the use of Smart Contracts, AMM style.