Hello Demodyfi family!
Today is an exciting day for the entire Demodyfi community! The dev team has been hard at work round the clock in preparing to roll things out officially! We know that many of you have been waiting patiently, and your patience is about to be rewarded!
Today, we'd like to share with you the following announcements:
Official launch of Demodyfi *Bridge on Moonbase Alpha! (12/24/2021)
Demodyfi DEX on Moonbeam - COMING JANUARY 2022
*Non-chain-bridge
What is the Demodyfi Bridge on Moonbase Alpha?
The Demodyfi Bridge is what allows coins and tokens to be moved from one network to another. For example, if you have $DMOD on BSC, the bridge will allow you to move your $DMOD from the BSC network onto the Ethereum network. In the crypto world, there are many different networks. Networks such as: Polkadot, Cardano, Ethereum, BSC, Polygon, and more!
With Moonbase Alpha, we are using the Moonbeam technology to help accomplish this bridging infrastructure! However, as this is Alpha, we are launching this for the public to see how it works! The public is encouraged to test it as well! In fact, the bridge is available for testing across Moonbase Alpha to Mumbai Polygon right now!
When it launches, the Demodyfi Bridge will be a non-chain-bridge. This means that the Alpha is a testing chain. Once the Moonbeam chain officially launches in mid-January, we will launch the bridge for the Moonbeam chain! Upon its launch, the bridge will support transfer of tokens to the Moonbeam Chain from Ethereum and Polygon.
In the future, the bridge will be expanded to support many other testnets, such as:
Acala EVM
Goerli
Avalanche network
Even substrate-based chains
This will allow free movement of tokens between all the networks.
Cross-chain communication protocols like XCMP, CCIP, Polynetwork, etc., will follow. This will make the bridging experience more seamless than ever before!
What is the Demodyfi DEX?
The Decentralized Exchange (aka DEX) is an incredible element within the crypto world. With the innovation of smart contracts, chains that implement smart contracts allow for the development of exchange services and tokens within their own chain.
With Demodyfi entering the scene inside of the Polkadot chain, we are incredibly excited for the growth we are about to see! We are happy to announce that we are launching the Demodyfi DEX on Moonbeam!
What to expect with this version of the Demodyfi DEX
Right now, this is V1 of the Demodyfi DEX. We are going to launch the Demodyfi DEX on the Moonbeam chain when it launches in mid-January. We will be launching this along with our bridge.
In the upcoming months, the dev team will be working on integrating both the bridge and the swap functions into the DEX!
This will allow us to take Ethereum tokens to Moonbeam and, in turn, bring the assets to the Polkadot ecosystem and other parachains - such as Acala!
Final thoughts
Many of you have been very patient while the team has been hard at work to get this out! We thank you so much for your patience and support through all the ups and downs within the crypto market! We know that in crypto time, it has felt like forever! But, we are almost there!
Personally, I am very bullish with a strong outlook for Demodyfi and what the team is providing! The team has been operating consistently, even while the market faced down trends. A team that is still focused on delivering their product without being disheartened is a project that is a team worth following closely! Demodyfi is doing just that!
To all of you who may be celebrating Christmas, we wish you a Merry Christmas! To all of you who can't wait for this year to end and begin a new one, we wish all of you a Happy New Year! May you and your families be safe in all your travels and wherever you may be!
WAGMI!
Demodyfi Team
Introducing the Demodyfi DEX with Moonbeam!
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