Dfyn, a multi-chain DEX with cross-chain bridges to unify the fragmented liquidity across multiple blockchains, has partnered with KSM Starter, the primary launchpad on Kusama. The partnership is aimed at kickstarting infrastructural readiness and wider adoption of Substrate as Dfyn looks forward to list the IDO projects launching on KSM Starter on its upcoming Substrate based DEX.
Dfyn network is currently functional on Polygon network and was able to attract TVL of $200 million within a week from it’s IDO. Dfyn will soon launch their DEX on many other EVM and Non-EVM chains. Dfyn will leverage Router Protocol’s Cross Chain Liquidity Protocol — XCLP to offer cross-chain functions and assist projects in doing multi-chain swaps.
Facilitating the Flow of Substrate Projects
While Substrate is beginning to receive the spotlight as one of the most promising foundational layers that enables new, emerging projects to rapidly build and scale up, the current challenges facing the Substrate ecosystem cannot be ignored. With an overall lack of infrastructure compared to the already well-established Ethereum ecosystem, it is critical that KSM Starter provides an ample runway for the projects on Substrate to not only launch, but also flourish. With Dfyn planning its DEX offering on Substrate, the partnership allows projects launching on KSM Starter to have a guaranteed listing, allowing for their Substrate-based token holders to trade more efficiently while providing the projects an automated flow that frees up development resources to focus on product development.
Unifying Liquidity and Community
A particular niche that Dfyn provides is its cross-chain bridges that prevent liquidity across multiple chains to be unified rather than fragmented as is in the current model. This effectively increases the funnel of traders and community, allowing more people to utilise the Substrate-based DEX offered by Dfyn, resulting in increased market activity and thus more efficient liquidity provision for the emerging projects. Consequently, the increased efficiency in liquidity is projected to create an organic market support for the Substrate-based projects launching on KSM Starter.
“Partnering with KSM Starter allows Dfyn to expand its reach to Substrate. Our goal is to become a chain-agnostic multi-chain AMM DEX and we look forward to supporting KSM Starter and all projects launching on KSM Starter”, said Ramani Ramachandran, CEO of Dfyn.
“At KSM Starter, we are trying to resolve the long-standing issues constantly being faced by emerging projects and thus support them not only during the IDO but post-IDO also. A necessary part of this comes from increasing liquidity efficiency for the projects. We are thrilled to have Dfyn Network as partners, and look forward to introducing and kickstarting some of the most promising projects in the Substrate ecosystem” — Siwon Kim, Co-Founder at KSM Starter.
Dfyn is a multi-chain AMM DEX currently functional on the Polygon network. Dfyn nodes on various chains act as liquidity entry and exit points into the cross-chain liquidity super mesh that is being enabled by Router Protocol.
Telegram Announcements: https://t.me/dfynofficial
Discord : https://discord.gg/yjM2fUUHvN
About KSM Starter
KSM Starter is the primary launchpad on Kusama. Built to provide early-stage support and public funding for projects building on Substrate, KSM Starter is set to offer its native KSM Starter Token (KST) to the public in the coming weeks.
Telegram Community: https://t.me/ksm_starter
Telegram Announcement: https://t.me/ksm_starterANN