CoinEx Smart Chain (CSC) | OneSwap Gathers Momentum to Pursue Innovation and Meet Challenges
2022 was a roller-coaster ride for the crypto industry, hitting hard on all crypto categories. Throughout last year, the combined TVL of DeFi projects on all chains dropped 76.1%, pushing the crypto market into recession. Following the Luna meltdown, DEXs in the Terra ecosystem collapsed one by one, which sounded the alarm for others in the space. In 2022, many DEXs were still striving for progress and innovation, demonstrating huge potential despite the crypto bear. For instance, OneSwap in the CSC ecosystem managed to upgrade and innovate its products through steady efforts, showcasing its strong momentum for innovation.
Innovation-driven Product Upgrades
Looking back at 2022, OneSwap always put users first and continued to develop new products and functions. From the mining function upgrade to the launch of mini-games and NFTs, the DEX scored remarkable progress over the last year.
To better meet demands of CSC users, OneSwap upgraded the liquidity mining function in February 2022. The upgrade enabled merged mining between more CSC-powered projects and projects on OneSwap, and users can now mine multiple tokens in one pool. Following the upgrade, OneSwap launched merged mining campaigns in collaboration with CSC-based projects to make liquidity mining available for trading pairs of multiple tokens. These efforts have paid off as the campaigns earned the recognition of both project teams and users.
In April, OneSwap tapped into the trending game element and launched a new feature called Prediction. Users can win prizes from the initial prize pool of 1 million CET by betting on the price trend of BTC/USDT. The new mechanism of Prediction started a new earning model known as “Predict to Earn”, attracting many users. The DEX incorporated ease of use into product design and introduced gamified mechanisms to make itself more user-friendly and easily accessible.
In September, as the NFT category matured, OneSwap rolled out “NFT Marketplace”, another innovative feature that aims to combine creative artworks with DeFi innovations to bring artists more opportunities and empower cooperation and creative businesses. With OneSwap NFT Marketplace, NFT trading has become much easier: the DEX only charges a 2% fee for NFT transactions and offers the English auction model for parties involved. It promotes the trading and circulation of NTFs with improved convenience and efficiency, as well as lower costs.
Today, OneSwap has evolved into a multi-functional DEX integrating liquidity mining, games, and an NFT marketplace, which meets various demands among CSC users. Looking back, in response to emerging crypto trends last year, the DEX launched new products including Prediction and OneSwap NFT Marketplace while pursuing ease of use. Its efforts also involved the expansion of service coverage and improvement of the existing products, a telling evidence of its strength for R&D and innovation. In respect of products, the exchange consistently upgraded its liquidity mining function to deliver better performance in terms of data, technology, and security, making services safer and stabler. Committed to innovation, OneSwap also embraced new crypto inventions to create more advantages, as evidenced by an impressive record on Prediction and OneSwap NFT Marketplace launched last year.
A review on the past achievements helps us strive for new progress. In 2022, OneSwap kept polishing its products, laying a more solid foundation for future growth. Amid the new market conditions in 2023, OneSwap will continue to pursue innovative technologies and mechanisms and empower blockchain development with easy-to-use services.