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AMM and DEX Arbswap Migrates to Arbitrum Nova

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AMM and DEX Arbswap Migrates to Arbitrum Nova

August 27
02:32 2022

     

Arbswap, an automated market maker (AMM) and decentralised exchange (DEX), has migrated to Arbitrum Nova. This move will take Arbswap several steps closer to building a thriving and highly liquid L2 DEX that will not only have the capacity to handle a large number of trades, but also do it while offering extremely competitive transaction fees. Users wanting to use Arbswap will have to switch the network to Arbitrum Nova and bridge their assets using the Arbitrum Bridge.

Arbswap is built natively on the most popular Ethereum Layer-2 blockchain, Arbitrum. It currently offers swaps for various ERC-20 trading pairs as well as LP services.

Why Arbitrum Nova?

Nova, the first chain built on the new Arbitrum AnyTrust technology, optimizes for ultra low-cost transactions with strong security guarantees. It employs a minimal trust assumption by relying on a data availability (DA) committee in which the sequencer sends the batched transaction data instead of the L1. After that, the committee signs Data Availability certificates and submits the highly compressed certificate data to the Ethereum L1, drastically reducing storage requirements and, by extension, gas costs.

Similar to Arbitrum One, Nova is also fully EVM compatible. The main difference between them is the DA committee. In other words, Arbitrum Nova uses a committee of nodes to sign the batched transactions, but in case this DA committee fails to do its job, Nova will continue to operate as a standard optimistic rollup until the DA committee is restored. This novel approach will now allow Nova to offer dramatically reduced transaction fees and token withdrawal times, even compared to Arbitrum One, which had already reduced them by 97% compared to Ethereum L1.

Arbswap users will benefit enormously from enjoying the switch to Arbitrum Nova, as now they’ll get to experience unbelievably low transaction fees and faster token withdrawals without making security sacrifices, making the DEX very attractive for existing and new users, as well as projects interested in listing their tokens on Arbitrum.

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Company Name: Arbswap
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Country: Singapore
Website: http://www.arbswap.io/

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