Embeddable Decentralized Exchange, AlgoSwap, Launches on Algorand
HEADLINE INC, a company situated in Algorand, has successfully developed and implemented a configurable, embeddable decentralised exchange. Anyone developing Dapps (decentralized applications) on the Algorand blockchain may now connect their own bespoke DEX solution with a seven-line piece of code.
AlgoSwap works with all major web platforms, including WordPress, WebFlow, Django, Gatsby, Ghost, Drupal, Joomla, Wix, Weebly, and Squarespace. If the concept of a decentralized cryptocurrency exchange operating on Squarespace seems far-fetched, that is because it was until today.
AlgoSwap, HEADLINE’s decentralized exchange, is a game-changing accomplishment for multiple reasons. AlgoSwap is a no-code widget that effectively condenses the DEX experience. This enables Algorand blockchain developers to simply create their own bespoke DEX without the need for any code. Allowing any blockchain developer to use enterprise-grade software such as AlgoSwap has far-reaching Web 3.0 ramifications.
Russ Wilcox, a Partner at Pillar VC, which was an early investment in Algorand (but not in HEADLINE INC), said on Twitter about AlgoSwap: “With tools like these, every web3 project can simply have its own coin.” That feeling was shared by AlgoMeow, a non-profit organization headquartered in Algorand whose only mission is to better the lives of cats and kittens via philanthropic contributions to animal shelters:
“Our friends at HEADLINE never cease to amaze us. The AlgoSwap DEX solution enables you to instantly trade MEOW tokens on our website! We implemented it in less than 45 seconds. No coding skills is necessary; it works with all Tinyman ASAs.”
AlgoSwap has been incorporated into a variety of Algorand ecosystem projects, including play-to-earn games, NFT collection home sites, and decentralized analytics solutions, in addition to non-profits. To accomplish AlgoSwap’s core purpose, a combination of technological aspects was required that was just not doable on other blockchains. Algorand’s layer-1 proof-of-stake blockchain system played a critical role in this.
Aaron Martinez, creator of HEADLINE, said the following about the contextual elements that made AlgoSwap a scientific reality, not science fiction:
“On other chains, this (AlgoSwap) would be almost impossible. Algorand’s technology is unparalleled. Zero forks, no downtime; one of the industry’s most astute core protocol teams. Algorand is often referred to as the intelligent chain. However, protocol alone would not be sufficient to enable this (AlgoSwap). TinyMan, another team, developed one of the most efficient and clean single-source AMM DEXs accessible. Its smart contracts (TinyMan DEX) are impenetrable. In a word, AlgoSwap expands the TinyMan AMM liquidity pools by giving a whole new, completely configurable no-code DEX solution, allowing anybody and everyone to establish their own DEX.”
Martinez was also quick to add out that “although there may be theoretical models or demonstrations on other chains (for embeddable DEXs), we have not come across an in-production model anywhere in our investigation. AlgoSwap, we think, is the world’s first embeddable and genuinely expandable DEX solution.”
This explosion of powerful blockchain technologies is causing havoc in the Algorand ecosystem. Diverse projects are moving from other chains to Algorand, attracted by the cheap fees, high speed network, continually evolving protocol, strong development environment, and cutting-edge technical innovation. Algorand is also a carbon-neutral blockchain, having made significant investments in DeFi and renewable energy.
HEADLINE INC is instrumental in accelerating the usage of Algorand. Along with AlgoSwap, HEADLINE is actively developing AlgoPay, a companion no-code payment solution that is completely integrated with over 50 Algorand e-commerce and small company websites.
HEADLINE is also the driving force behind several other key Algorand ecosystem projects, including FORUM – a proof-of-stake social network – AlgoCloud – a software-as-a-service platform for enterprise businesses – and PIPELINE-UI. The Algorand Foundation collaborated in the development of PIPELINE-UI, a blockchain developer toolkit.
Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.