Legal Notice: Nothing on the website constitutes professional and/or financial advice. All the content on the website is for informational purposes only. We have prepared all information herein from sources we believe to be accurate and reliable. However, such information is presented as is,” without warranty of any kind – whether expressed or implied. You acknowledge and agree that there are numerous risks associated with purchasing cryptocurrencies.

CDS Crypto News Turbos Finance Introduces Smart Routing for Stablecoins on Sui

Crypto News

Turbos Finance Introduces Smart Routing for Stablecoins on Sui

The feature aims to reduce friction for users coming from other ecosystems to Sui and improve liquidity.

Aziz KARTAL06/06/20231 Mins read838

Turbos Finance Introduces Smart Routing For Stablecoins On Sui

Turbos Finance, a decentralized exchange (DEX) that operates on the recently launched Sui blockchain’s layer 1, has introduced smart-routing for stablecoin exchanges within the network. This implementation allows for the creation of multiple liquidity pools for various USDC variants.

Table of Contents

Turbos Finance Introduces Smart Routing for Stablecoins on Sui

Turbos Finance, a decentralized exchange (DEX) developed on the recently launched Sui blockchain’s layer 1, has introduced smart-routing for seamless swaps of stablecoins within the network. This implementation enables the establishment of multiple liquidity pools for different variants of USDC.

According to a press release, this launch will enable customers to effortlessly trade any variant of bridged USDC assets wrapped by the Wormhole bridge against native Sui assets.

Presently, users are required to wrap their USDC on the source network to gain access to the stablecoin on Sui. Wrapped tokens serve the purpose of transferring assets between incompatible blockchains through a bridge. Turbos is now offering a smart routing system on Sui, allowing for the creation of multiple liquidity pools for various USDC variants, as mentioned in the press release.

The release states, “This advancement unlocks the untapped potential of all USDC variants on Sui, regardless of their origin networks.”

Sui, the competitor to Aptos, has achieved a valuation of $2 billion and was founded by former employees of Meta Platforms (META). With over 200 projects listed in its directory and another 100+ projects seeking to build on its network, Sui is rapidly gaining momentum.

Turbos Finance

Turbos Finance is a decentralized exchange (DEX) that operates without custody of user funds and emphasizes high efficiency. It is designed to provide a universal concept of digital asset ownership and unprecedented horizontal scalability within the realm of decentralized finance (DeFi). Turbos Finance is built on the Sui blockchain, enabling it to offer these unique features.

To access more crypto news: cryptodataspace.com

Sources:CoinDesk

Previous post Demox Labs Raises $4.5 Million for New Private Crypto Wallet

Next post $700 Million Withdrawn Due to Binance Lawsuit

Written by

Aziz KARTAL

Aziz Kartal is 21 years old. He is a student at the Gazi University, Department of Electrical and Electronical Engineering. He works as content writer, researcher and social media manager. He generally research about Web3, Blockchain Security and Cybersecurity.