XRP Gets Added On The Meshswap Decentralized Exchange

April 28, 2022 7:09 pm Comments

It was recently announced that XRP has now been added on the Meshswap decentralized exchange which means that XRP holders can now take advantage of all the benefits that Meshswap has to offer.

Meshswap is known as an AMM based DEX protocol that allows users to use their assets and perform a variety of different decentralized financial actions that Meshswap supports.

Examples of things you could do include doing yield farming, token swaps, liquidity providing, and much more which means that XRP holders can put their XRP to work for them.

Meshswap will now essentially be able to provide its advanced trading environment across the decentralized market for the entire XRP Ledger.

Medium.com reports:

On March 11th, 2022, Meshswap announced the integration with Orbit Bridge, Meshswap’s main cross-chain bridge with more than $700M in total value locked, in order to support stable asset movement between heterogeneous chains.

Upon integration, it creates a huge liquidity pipeline by connecting XRP users to the Polygon ecosystem through Meshswap DeFi protocol.

This partnership opens up new opportunities for XRP holders to actively utilize their assets to experience various decentralized economic activities such as yield farming, token swaps, liquidity providing, and more on Meshswap.

As a decentralized open IBC platform, Orbit Bridge facilitates the smooth movement of assets between heterogeneous chains with the advanced and transparent interoperability of Orbit Chain.

With Orbit Bridge, Meshswap can now expand its ecosystem even further by supporting XRP as well as Ethereum-based assets.

The XRP Ledger also has advanced functionality when it comes to decentralized finance protocols as it was built specifically to be able to provide a seamless transaction network for financial institutions.

As a result, XRP Ledger has its own native decentralized exchange that also allows for the trading of DeFi tokens on the ledger.

In its own DEX, XRP is used as the native token that runs all the DeFi projects which further increases the value of the coin.

This recent integration with Meshswap is a great addition to the functionality that XRPL already provides and adds additional liquidity that the XRPL can access if it needs to.

Medium shares:

We are pleased to announce XRP as our newest liquidity asset! Meshswap is designed to support all kinds of blockchain-based assets, and the support of XRP–the native digital asset to the XRP Ledger (XRPL) — will be an opportunity for Meshswap and Polygon community to deliver our safe trading environment across to the decentralized blockchain market once again as we have done with Klayswap.

The XRP Ledger is a public, decentralized blockchain optimized for payments with incredibly fast transactions, low transaction fees, and market adoption by financial institutions.

The XRPL’s native decentralized exchange (DEX) also allows for the trading of decentralized finance (DeFi) tokens directly on XRP Ledger, showing promise for XRP to become the key asset to be utilized on DeFi projects.

With this Orbit Bridge now built between XRP and Meshswap, XRP users just got a tremendous amount of liquidity at their disposal!

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