SwaySwap launch on Ethereum's Modular Execution Layer

In the world of DeFi platforms, a new platform was introduced by FuelLabs, SwaySwap. It is a decentralized application similar to Uniswap that is running on a persistent Fuel devnet.

SwaySwap launch on Ethereum's Modular Execution Layer


What is Sway Swap?

Fuel Labs is a global, decentralized team of enthusiastic programmers developing the future of blockchain scalability technology, and they are also building Fuel. On Thursday, FuelLabs introduced SwaySwap.

SwaySwap is a decentralized application built-in Sway Language, a specific language for writing smart contracts. SwaySwap is running on UTXO-based FuelVM (Fuel Virtual Machine) with no connections.

SwaySwap is a demo application on Fuel devnet and it is currently not deployed on a mainnet. You can try it here.

SwaySwap's special features

Browser based wallet

SwaySwap allows users to create browser-based integrated Fuel wallets and they are also planning to introduce a standalone wallet very soon. A user's wallet can be used to faucet test ETH. A user can also pool native resources and also can swap two native assets.

Swapping digital assets

Native assets, are what being traded, moved, and generated as LP tokens. and they have the same features as ETH does on Ethereum. Contract calls can be used to push them, and contracts have a balance of assets.

Developers' friendly

The new smart contract language Sway is used to create SwaySwap. Sway offers a development experience that is unmatched since it incorporates lessons from both Solidity's and Rust's positive and negative aspects. SwaySwap runs on a new execution layer that is Fuel, a UTXO(Unspent Transaction Output)-based modular execution layer.

What is FuelVM?

Sway targets an extremely quick blockchain virtual machine, the FuelVM. The EVM has been enhanced, and the FuelVM has less waste. If you can create contracts for the EVM, you already know how to write contracts for the FuelVM, so there's no need to learn an entirely new smart contract programming style.

Fuel gives Ethereum a globally accessible scale since it is the quickest modular execution layer. Maximum security and the most adaptable throughput are the outcomes. Applications on Fuel may be used in the same manner as applications on Ethereum can be accessed directly. Despite being a standalone network currently, future Fuel networks will be completely bridged to Ethereum testnets, then Ethereum mainnet in order to allow the usage of Ethereum assets in Fuel execution contexts.

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