Decentralized Exchange markets have grown at a parabolic rate in recent times, thanks to the rapidly flourishing decentralized finance space.
Theta network launches its own exchange, ThetaSwap to explore the potential of DEX markets.
Theta Network Enters DEX Market
Theta Network is a blockchain-based video delivery network which allows users to watch videos simultaneously and gain reward coupons. The network works on decentralized technology and supports leading platforms like Sliver. TV, MBN, Samsung VR etc. on its mainnet. Theta network launched ThetaSwap, the very first decentralized exchange for Theta Blockchain. Theta Blockchain is based on the open-source smart contracts and works similar to Uniswap leveraging AMM logic. The Theta Network users would be able to mint and create their tokens and trade them on the ThetaSwap DEX.
The blockchain already allows the various content creators and streamers to distribute their loyalty tokens for their viewers. It provides DAOs for various media and video projects as well. With its own, DEX Theta community would get more innovative ways to leverage Theta blockchain. The Theta Blockchain users would be able to use the TNT20 tokens in a trustless and non-custodial way. Many streamers and users have already announced airdropping their tokens to fans, followers, and viewers.
The tokens rolled on Theta Blockchain can leverage the ThetaSwap DEX and allow users to easily trade them in the markets. Theta network expects that with the rollout of ThetaSwap, there would be a surge in media and entertainment-focused content. This allows the various media providers like large studios and small streamers to monetize the content they deliver without paying a substantial fee to intermediaries.
The newly launched exchange would utilize Theta Chrome Wallet. Users can import the existing Theta web wallet to the Chrome wallet. ThetaSwap version 1 would allow users to trade the TNT20 and TFUEL tokens. In January Theta Network and communityGaming.io partnered to host 3 esports tournament allowing fans to earn TFUEL tokens for sharing video streams.
The team’s official Medium post said that ” future versions will have a functionality for THETA trading via a version of the THETA token in a TNT20 wrapper.”
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