Introduction
Metis and its ecosystem can get cross-chain support once its integration into CCIP is complete, providing a new revenue stream, opportunities to activate and attract new traders, and more exposure to the Chainlink ecosystem.
XSwap is a cross-chain swap incubated by Chainlink, leading on their CCIP infrastructure.
The “why”
- Growing Metis’ trader base,
- Enabling traders using dApps in the Metis ecosystem with safe cross-chain swaps,
- Making Metis ecosystem more simple to use – hence more competitive.
- Optional new revenue stream for Metis (swap fees).
XSwap’s utility is adding cross-chain capabilities to swaps, marketplaces, lending, staking protocols, iGaming, or other processes related to the trader experience.
Instead of doing a swap, a bridge, and then staking/lending/buying, users do everything in one click, increasing the project’s conversion (trade-made) rates.
What’s in it for Metis?
Projects building on Metis, who opt-in for the cross-chain swaps, would note shorter user conversion cycles, as conversions would require fewer operations – it’d be easier to make a transaction from/to other chains.
Optionally, they’d also be able to include a swapping/bridging fee that’d go to their treasury and use their own liquidity if it’s a DEX.
Metis x XSwap proposed action plan
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Co-marketing campaign in April, so Metis gets maximum exposure to new traders and the Chainlink ecosystem, as XSwap is preparing an Ape Terminal IDO, with growing marketing reach.
This would include posts on each project’s channels. -
Once Metis’ integration into CCIP is completed, XSwap will onboard Metis to its swap, making its L2 available to be cross-chain swapped/bridged to.
This will be complemented by more joint marketing and PR efforts to attract more builders and traders to the Metis ecosystem.
Along with incentivized user-activation efforts, such as a trading competition or bridging incentives – the exact scope would be agreed upon once the technical integration is operational.
- Potential further technical collaborations with Metis Ecosystem projects.
Due Diligence on XSwap
XSwap was the first project to participate in Chainlink’s BUIDL incubation program, and the first cross-chain swap ever deployed on Chainlink’s major product, the Cross Chain Interoperability Protocol (CCIP).
It’s set for an IDO on Ape Terminal in April, with a self-serve SDK launch in May.
- 80,000+ Total audience
- 250+ Onboarded Key Opinion Leaders
- 12 VC investments
- $3,000,000+ Daily Volume
- 50,000+ Connected wallets
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