InfinitySwap is a DeFi platform co-founded by Max Chamberlin and Alessandro (Alex) Rietmann. Both are Cambridge graduates, and Max also holds a degree from Oxford with scholarships. Together, their expertise includes computer science, high-performance networks, and cybersecurity. The team brings a much-needed understanding of technology and tokens to the Internet Computer ecosystem so DeFi can thrive.
The Genesis of InfinitySwap
Venture capital funding has flowed in from top crypto investment companies, such as Polychain Capital, Parafi Capital, Draft Ventures - founded by DFINITY's former COO - as well as Internet Computer leaders cycle_dao and the DFINITY Foundation through the Beacon Fund.
With a highly experienced team of developers and a large marketing department, InfinitySwap is poised to rapidly meet decentralized finance, social finance, and the Ethereum/Bitcoin integration goals on the Internet Computer blockchain.
InfinitySwap is the only platform uniquely positioned to meet DeFi needs, maintain a highly-functional platform on an ongoing basis, and continue innovating to meet the future needs of investors on the Internet Computer as well as across blockchains.
The aim is to bring BTC, ETH, and ICP together for fast, affordable, and secure token swapping, staking, and creation. The team's vision is an interoperable platform for swapping tokens from any blockchain ecosystem, with analytics to match.
The Key Components of the InfinitySwap Platform
In order to reach this goal, the InfinitySwap team is working to accomplish critical elements that are key to the success of the platform:
The BitfinityWallet is not just a wallet for the Internet Computer but also a wallet for the BTC and ETH ecosystems, essentially the most interoperable wallet in blockchain. We are developing our own wallet to store and send tokens using our advanced IS20 and ICRC-1 decentralized token standard. The wallet will also support ledger tokens, meaning Bitcoin tokens and other non-IC tokens will be supported. Additionally, there will be support for NFTs listed on DAB.
We have plans to integrate the Internet Computer's ChainKey technology into our wallet, functioning as a token gateway between the Internet Computer and the Ethereum blockchain so you can buy, sell, and swap your favorite altcoins using both ICP and ETH without the need for a bridge. BTC tokens will also be supported thanks to Bitcoin integration on the Internet Computer.
A Platform for Swapping, Staking and Creating Tokens
From Defi to GameFi to NFTs, the Internet Computer is in desperate need of a platform for simplified swapping, staking, and creation of tokens. The InfinitySwap platform is positioning itself to be the leader in this space.
InfinitySwap is building a platform to make it easier to create your own tokens - think about the ease of launching tokens on PancakeSwap and with direct access to liquidity pools. This will be absolutely crucial for projects intending to raise capital on the IC. You can create a token directly through the InfintySwap web app or by using a command line, depending on your level of experience with programming and the IC's various software development kits.
Not only will InfinitySwap allow you to swap new tokens that emerge on the Internet Computer, but we will also provide the most affordable way to swap main-net ETH tokens. InfinitySwap will also introduce DeFi to the Bitcoin blockchain, meaning Bitcoin holders will be able to purchase tokens outside of the Ethereum ecosystem. We might even see Bitcoin-themed tokens!
InfinitySwap will allow you to stake both ERC20 and IS20 tokens in pools. Staking and liquidity pools will provide rewards and allow you to mine tokens that use proof of stake.
Why Choose InfinitySwap for DeFi?
InfinitySwap will not just be among the first DeFi platforms on the Internet Computer – it will also be the most advanced.
The IS20/ICRC-1 Token Standard
The IS20 token standard will propel DeFi on the Internet Computer alongside the ICRC-1. Both standards are interoperable. These standards will be ERC20 compatible for Ethereum users too. Additionally, the standard solves a number of unsolved problems on the Internet Computer - such as cycles drain, decentralized cycles top-up, and other bugs that are discussed in the article:
Get your project started with less capital using our cost-effective, weighted liquidity pools.
Transactions on the Internet Computer blockchain ensure cheaper transactions than Ethereum swaps like Uniswap, which has horrendous gas fees.
InfinitySwap aims to bring DeFi to the Bitcoin blockchain so you can swap and stake directly from a BTC wallet.
Funds Are Safe
The cybersecurity background of the core team has resulted in protection against DOS attacks and Cycles drain attacks, and the team has been in communication with the DFINITY Foundation to share their solutions to some of the most pressing challenges in the space.
The Future of DeFi Is on the Internet Computer
At the peak of the alt season in May of 2021, Ethereum’s decentralized exchanges saw 173 billion USD in volume. The total for the quarter was 343 billion USD in volume. Imagine the possibilities when the crypto world discovers the speed, affordability, and scalability of DeFi on the Internet Computer!
It is no wonder this project is being backed by some of the top venture capital companies in crypto, including Polychain Capital, Parafi Capital (early investors in AAVE and Uniswap), and Draft Ventures, founded by DFINITY's former COO, as well as Internet Computer leaders cycle_dao and the DFINITY Foundation through the Beacon Fund. The large and growing team of talented developers is well-funded to complete all of the exciting features of the platform, maintain support for these features, and continue to innovate long into the future.
InfinitySwap is positioning itself as the leading DeFi platform on the Internet Computer, and we want you to join us on this incredible journey. Please subscribe to our blog to stay up to date on the latest developments, partnerships, and DeFi news. Together, we will show the world what the Internet Computer ecosystem is truly capable of accomplishing!
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*Disclaimer: While every effort is made on this website to provide accurate information, any opinions expressed or information disseminated do not necessarily reflect the views of InfinitySwap itself.