Zilliqa Sees Launch of First-Ever DEX Built on Zilliqa EVM, ZIL Price Gains +5.5%
- PlunderSwap becomes the first-ever DEX built on Zilliqa EVM
- The price of Zilliqa surged by over 5% hours after the launch
- The launch of PlunderSwap comes during a notably bullish period for crypto, healdinled by Bitcoin gaining over +20% in the past week
Renowned public blockchain Zilliqa, announced it has welcomed PlunderSwap to its ecosystem following the launch of the first-ever DEX on the Zilliqa EVM.
Marking a major milestone for the project, the development comes a few days after PlunderSwap took to twitter to encourage users to prepare for an adventure into the realm of Zilliqa EVM with its premium DEX.
Announced via the network’s official Twitter page yesterday, the defi space is set for a new adventure as PlunderSwap officially becomes the pioneering DEX to go live on Zilliqa EVM.
Today @plunderswap have launched the first-ever DEX built on #Zilliqa EVM!
Want to learn more about what this means for #DeFi growth on Zilliqa?
Tune in tomorrow at 13:00 UTC to catch our AMA with the team behind this exciting project! #Blockchain #DEX pic.twitter.com/UW5Unf8lEv
— Zilliqa (@zilliqa) October 23, 2023
Zilliqa, a Backbone for Decentralized Applications
The launch of PlunderSwap on the Zilliqa EVM aligns with the network’s commitment to supporting the emergence of decentralized applications set to revolutionize the defi space.
As a public, permissionless blockchain designed to offer high throughput and secure smart contract execution, Zilliqa has always served as a good foundation where decentralized applications and networks can be built.
This suggests that the network will play a crucial role in ensuring that decentralized trades are easily executed via PlunderSwap, ensuring that users can efficiently trade their assets directly via their personal wallets without being limited by the barriers that come with third-party transactions. Hence, it is correct to say that this is a big win for the PlunderSwap project.
As part of its design, PlunderSwap has been built with the sole purpose of encouraging the act of trade within the decentralized space by facilitating trades without relying on Centralized Exchanges. The platform eliminates the need for third parties as it allows users to exchange crypto assets directly through their personal wallets.
As the first Automated Market Maker (AMM) navigating the waters of Zilliqa EVM, PlunderSwap is keen on ensuring that the potential of defi is fully optimised.
Zilliqa Records +5.5% Price Jump Within 24 hours of PlunderSwap Launch
Prior to the launch of PubderSwap’s premium DEX on the Zilliqa EVM, Zilliqa has been seeing a decent pump in the price of its coin. However, it appears that the recent development might just be another force to further boost the rate at which the price of Zilliqa is increasing.
Within just 24hours of the PlunderSwap big launch, Zilliqa has recorded over +5.5% surge in the price of ZIL, reaching a trading price of $0.018699 as of the time of writing. This may suggest that the sentiments surrounding ZIL is about to turn positive as it is about cycling back to its highest price since the last cycle low which was around $ 0.018835. For more information, check the algorithmically generated Zilliqa price prediction.