Over the past few months, Arbswap, the decentralized automated market maker exchange built on the Arbitrum platform, has made significant advancements. With assistance from Old Fashion Research, a multi-strategy blockchain investment fund, Arbswap recently launched the Nova Accelerator following the migration of its contracts to the Arbitrum Nova network.
By creating the Accelerator, Arbswap aims to aid in the expansion of the ecosystem surrounding Arbitrum Nova by providing investments and advisory services to projects utilizing the platform. The Nova Accelerator intends to invest $10 million in the Arbitrum Nova ecosystem, according to Arbswap.
Regarding Arbitrum Nova and Arbswap
An Arbitrum Layer-2 scaling solution called Arbitrum Nova enhances extremely low-cost transactions while providing reliable security guarantees. The first chain created by Arbitrum using its AnyTrust technology, Arbitrum Nova is designed to support high volume, price-sensitive transaction applications like gaming, social, and decentralized exchanges.
Arbswap is a decentralized exchange that aims to provide users who trade tokens on its DEX with the highest level of security and accessibility. Arbswap’s quick decision to switch to the Arbitrum Nova chain will undoubtedly give it a significant first mover advantage over other exchanges with the “high” transaction costs of the Arbitrum One chain. Arbitrum Nova boasts its high security and low transaction costs even at high volumes. Arbswap’s array of DeFi tools, including liquidity mining, staking pools, and Dasher, a launchpad product that uses vested token sales to fund new Arbitrum Nova projects, make Arbswap a very alluring DEX for different market participants.
With the help of Dasher and the Nova Accelerator, Arbswap has established itself as a significant player in the Arbitrum ecosystem, giving projects based on Arbitrum Nova access to funding and product launches via the Arbswap ecosystem.