BasicSwap is a cross-chain and private decentralized exchange (DEX) protocol that allows users to swap one crypto for another without any middleman or third party being involved. It lets users make or take orders on a distributed order book and execute swaps that are safe, trustless, and unrestricted.
The DEX is powered by atomic swap technology and the SMSG network (Particl’s own P2P network, which also powers its marketplace dApp).
“It’s vital to be able to acquire, sell or trade the platform’s native currency in an independent, safe, fast, and decentralized way. That’s precisely what the BasicSwap DEX enables, but it doesn’t stop at just buying and selling PART.”
– The Particl Team
Available Features Include:
- True Monero support
- No account, sign up, or KYC
- Incredibly low and competitive fees
- User-friendly interface
- No third-party, intermediary, or middleman at any point
- Taproot compatible
- Lightning Network compatible (to come in later versions)
Initially, the available and compatible coins on the DEX will include, Bitcoin, Monero, Litecoin, Namecoin, and the native Particl (PART) token.