O3 Labs is launching its O3 Swap module on the Neo N3 blockchain. The integration sees O3 Labs returning to its roots on the Neo platform, where it built its first wallet, amongst other tools. O3 Labs produced the non-custodial O3 Wallet on Neo Legacy in 2017, followed by O3 Swap in 2021 to enable cross-chain swaps within the wallet.

After placing its focus on EVM-compatible networks, the team evolved O3 Swap into a major cross-chain liquidity solution. The decision to return to Neo was made in part due to a desire by the team to expand to non-EVM blockchains and further cement itself as a “liquidity gateway” for cryptocurrencies.

Cross-chain swaps

O3 Swap works by combining liquidity from single-token staking pools with liquidity aggregated from decentralized exchanges. A liquidity pool for fUSDT will be offered by the team on launch, giving token holders a new option for earning a yield. In coordination with Neo, a whitelist for additional assets is under development which will expand the range of supported tokens for staking.

In partnership with Flamingo Finance, the service will provide several tokens on Neo N3 with cross-chain market exposure, bridged with Poly Network. On launch, liquidity is aggregated from FLM, bNEO, GM, TIPS, DOGER, and CANDY token pairs on Flamingo.

These will join GAS and fUSDT as the first Neo N3 tokens to be tradeable on O3 Swap. Swaps can be performed cross-chain to and from Ethereum, Arbitrum, Polygon, and several other supported networks.

Launch events

To celebrate the milestone, Neo and O3 Labs are planning various marketing campaigns and community engagement events. A Twitter Space will take place on June 21, hosted by Neo and featuring representatives from O3 Labs and Poly Network. The event goes live at 7:00 a.m. (UTC).

Additionally, O3 Labs has opened its first cross-chain airdrop campaign in the Neo ecosystem. Fifty lucky winners will share in a pool of US $2,000 of tokens plus 50 Blockchain Cuties NFTs. O3 “On-Chain Achievement Tokens” are also claimable by users who perform cross-chain transactions.

Airdrop participants are required to join the campaign on Galaxe, where they will be prompted to retweet and tag friends in an event tweet, follow participating Twitter pages, and join the Discord or Telegram communities. Finally, a cross-chain transaction to Neo N3 with a value greater than US $20 must be completed to be eligible for the airdrop. The deadline for the event is 1:00 p.m. (UTC) on July 5.

The original announcement may be read at the following link:
https://neo-blockchain.medium.com/o3-swap-launches-on-neo-enjoy-token-swaps-between-neo-and-mainstream-evm-chains-6dd472e5c733

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