The O3 Swap beta is live, offering the ability to trial the new platform and receive O3 tokens for rewards. O3 Labs is hosting a two-week campaign for users to test the swapping processes and provide feedback on the platform. Until further notice, there is an equivalent US $20 limit on swaps.
O3 Swap is a cross-chain liquidity aggregation protocol designed to provide users with the most cost-effective rates and a simple one-click transaction process for swapping assets between different blockchains or layer two networks. From an O3 Swap user perspective, a transaction between any two assets can be triggered with a single click.
At the center of the service is the O3 Hub, a cross-chain asset pool. Based on Poly Network to support assets from any participating blockchain, the Hub allows users to provide liquidity using one or more assets or swap between them directly. The O3 Hub will also provide a separate stablecoin pool to ensure low price slippage and minimal impermanent loss.
To incentivize activity, the O3 token will be distributed to users who participate in governance, provide liquidity, and trade via the platform, among other activities.
O3 rewards for community participation
At the time of press, two campaigns are offering O3 tokens as rewards for participation.
The first requires participants to visit www.o3swap.com and complete at least one transaction on the Swap module or Hub module, or add/withdraw liquidity to the cross-chain pool.
The second requires participants to join the O3 Swap research and development Discord channel and provide feedback to the development team. At the end of the event, O3 Labs will select comments they found helpful and reward users who submitted this input.
To participate, users are required to complete the registration form found at the following link:
https://docs.google.com/forms/d/e/1FAIpQLSd3Ye62DuNfpp8NzSRqUgTngyEQXqDK1K4Swqti9rkNuIyJ0Q/viewform
Both community participation events conclude at 11:59 p.m. (UTC) on May 10, 2021. The team plans on distributing O3 token rewards in mid-May 2021.
The beta testing announcement can be found at the link below:
https://medium.com/o3-labs-o3-wallet/an-invitation-from-o3-swap-r-d-club-8a3ee51755c3
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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