Last updated on June 17th, 2022 at 10:56 am
PRESS RELEASE BY EQUITO FINANCE
Equito Finance is a Decentralized Exchange built on the Algorand blockchain. Equito also has cross-chain support and has already utilized its cross-chain support by creating a bridge to the Ethereum blockchain.
The CEO, Paolo d’Ippolito, has spent years perfecting the project and describes it as a “collector of everything you need as a customer.” He also said, “Equito was built to be a useful tool that is easy to use.”
Equito Finance is also much more than a simple Decentralized Exchange. In the future, they wish to release a governance token, allowing the community to have majority control over their services. This will give them the status of a DAO.
After three long years of development, Equito Finance Dex has just launched on testnet, but what does this mean for the Algorand ecosystem? The first benefit may not be as obvious, but it is just as important. Having another DEX on the blockchain will spark competition, which will, by default, cause the prices to decrease and the services to improve, making it better for everyone involved.
Another benefit worth mentioning is the bridge that is built into Equito. The bridge boasts a 30 sec round trip, which is the fastest bridge in the Algorand ecosystem. Along with speed, Equito possesses extremely cheap fees. Being built on Algorand has allowed them to charge much less than they would on other blockchains, with only 0.3% of your transaction being charged and 0.25% going straight to the liquidity pool.
So now you know a bit about the new DEX on Algorand and how it will help the ecosystem and its amazing users. Are you going to use Equito Finance?
Test it for yourself: https://testnet.equitofinance.com
To learn more about Equito Finance, visit their website, join their Discord and follow them on Twitter.
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