How DApps Can Benefit from Cross-chain Swaps by Integrating the LetsExchange Widget
In 2018, the global Web3 market was $0.18 bln. In 2022, the Web3 market share increased by 32.6% compared to the previous year, and by the end of 2030, it will reach $45 bln.
Decentralized applications (dApps) are the core of Web3. Now, the world is witnessing a massive dApps adoption. There are over 4,000 dApps, with 80% of them built on the Ethereum network. However, even though Ethereum stays the main blockchain, many developers are shifting to other blockchains to avoid Ethereum’s high fees and delays in transaction processing. This leads to the growth of dApps running on all types of blockchains.
One of the inherent specific features of a dApp is the existence of a native token. This token can be used for different purposes:
- Paying fees within the network
- Accessing the network functionalities
- Benefiting from exclusive offers
- Participating in the dApp management in the case of governance tokens.
While having a native token is definitely one of the vital features, it comes with specific limitations. If a dApp hasn’t reached a global level yet, its token may not be too popular. In many cases, the token is traded only on a couple of major DEXes; thus, selling or buying it is not so easy.
If a dApp is developed on a rarer blockchain that is not Ethereum or BNB Chain, swapping a token becomes even more complicated or excessively expensive. Integrating a cross-chain swaps functionality for a dApp is often an unreasonable move in the matters of time and costs. As an option, a dApp can be deployed on several blockchains, but this would diminish the project’s liquidity and, again, will take time and require expenses.
How LetsExchange Can Propagate the Popularity of Projects’ Native Tokens
Here is when LetsExchange comes to help with its cross-chain functionality. All that a project needs to do is integrate the LetsExchange’s swap functionality through an API or add an exchange widget on the website. Both solutions allow users to swap the native dApp token to any of the supported 4,500+ coins and tokens, including those tokens and coins that run on other blockchains.
If you feel that you need to implement a cross-chain functionality to expand the reach of your dApp, and you would like to start with creating a widget that allows you to perform cross-chain swaps, here are instructions on how to create your own widget. You can do it within a couple of minutes from your personal account. The widget is highly customizable, and you can adjust it to your brand and business needs. One can also set it up to allow only one token to be exchanged for other coins. Our team will provide comprehensive support to create a widget compliant with your requirements.
If you prefer to integrate our processing solutions via an API, look at how to use the API and check all the necessary information needed to incorporate the LetsExchange processing solutions into your dApp here. After that, you are ready to proceed. Integrating LetsExchange functionality through API, besides accessing all the platform's functionality, allows setting up a custom revenue share.
If you have any questions or doubts, just contact us.