TVL > 100K
What is UbeSwap (UBE)?
Ubeswap is a decentralized exchange (DEX) and automated market maker (AMM) protocol for the Celo blockchain assets. The project poses itself as a mobile-first decentralized finance (DeFi) exchange. The purpose of Ubeswap is to make trading ERC-20 tokens on Celo faster, easier, and less expensive. The given DEX and AMM protocol also supports various projects from the Ethereum (ETH) ecosystem. Ubeswap was first aimed at smartphone users, but it currently supports software wallets such as Metamask as well as hardware wallets such as Ledger. As a liquidity hub for the Celo chain, Ubeswap also lets participants invest in different cryptocurrency assets and earn passive income through yield farming. UBE is Ubeswap protocol’s native cryptocurrency. UBE tokens are required to pay for transaction commissions and credit liquidity pool rewards, and they also serve as the protocol’s governance currency.
Who are the founders of UbeSwap (UBE)?
The team behind Ubeswap is outstanding and consists of accomplished blockchain experts. The founder is Ivan Macalinao who is also known for launching Saber (SBR), a decentralized automated market maker on Solana. Another outstanding team member in Ubeswap is Evan Kereiakes who is responsible for the Business Lead. He has vast experience as the foreign exchange reserves manager at the Federal Reserve Bank of New York. He also used to work at the US Treasury Markets Room and the White House National Economic Council. Brian Li is the Technology Lead of Ubeswap. He is seriously engaged in developing DeFi applications, and his most prominent creations include such primitives as Poof.cash, Romulus, and Nomspace.
What makes UbeSwap (UBE) unique?
Functioning as a DEX and AMM, Ubeswap is on a mission to increase liquidity for the Celo-powered assets. Celo is the mobile-centric blockchain that was created to facilitate the use of distributed financial instruments, helping more users to benefit from DeFi. While Celo is optimized for modern decentralized finance, Celo assets still lack platforms for effective trading. This results in the fact that new Celo tokens do not have enough liquidity, and investors start feeling that there is no point in holding assets of the Celo blockchain. Ubeswap is to disrupt this by providing a full-fledged exchange for the Celo ecosystem to support the quick and fast growth of Celo DeFi. The project looks to build a platform where users can easily trade any asset from their mobile devices or browser without using legacy technologies or relying on centralized authorities. To expand the usability of the Celo blockchain, Ubeswap eliminates high transaction fees for on-chain trading by providing more liquidity, which translates into reduced slippage costs. Gas fees cost less than a tenth of a cent on Ubeswap. Along with that, Ubeswap (UBE) offers functionality for yield farming on Celo. Yield farming allows Ubeswap members to gain extra profits on their crypto holdings. Liquidity providers are rewarded in the UBE crypto – this also helps to make trading on Ubeswap cheaper. Yield farming also turns the protocol’s participants into token holders, rewarding them for being early adopters of the project.
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