Novaswap

The zero-fee stablecoin DEX | Live on @solana, @base, @HyperliquidX, @plasma, @stable, @SuiNetwork, @cardano, and @trondao

[Novaswap @Novaswap]

Novaswap is shutting down. Read details below:

[Mynth @_mynth_]

Unfortunately we have to share very bad news.

Three years ago, we set out on the ambitious task of building a more secure cross-chain interoperability protocol. We were successful in that mission. Our spin-off product, @Novaswap, has received a lot of positive feedback from users, and we're proud to have built a reliable system that facilitates cross-chain swaps in a matter of seconds. We released many features designed to make cross-chain interaction easier, safer, and more seamless.

Our core thesis was that the market would place significant value on a fast and secure cross-chain experience. That thesis was shaped by a reality we continued to see across the industry: cross-chain systems are frequent targets for major security exploits, and several large competitors experienced serious vulnerabilities while we operated.

While we're proud of the protocol's security and features, usage hasn't reached the level required to sustainably operate and continue expanding.

We've explored many possibilities to continue providing this service to the community. After reviewing the available paths forward, we'll be unable to maintain the pace of innovation we've committed to in the past, and we'll be unable to expand across more blockchains.

As such, we've reached the very difficult decision to wind down operations. We'll be discontinuing our hosted infrastructure that makes Novaswap functional.

By June 30th 11pm UTC, we'll cease all operations. All user funds will remain safe and non-custodial. No user action is required. Swaps will continue to be processed up until this time. If there are any issues, our team remains available to support you via our Discord through to the end of July.

We want to sincerely thank everyone who joined us on this journey and everyone who believed in what we were building. We know this is hard news, especially for those who supported us along the way. We're deeply grateful for that support, and proud of what we built together.

[Novaswap @Novaswap]

In the beginning people questioned us why we wanted to make a more secure version of THORChain

We never wished for THORChain to be compromised. But we saw the risks and wanted to build a more secure alternative

[V12 @v12sec]

We reported a critical loss of funds bug to @Thorchain (32M TVL, 150M FDV)

They silently patched it and told us their bug bounty program is permanently retired.

We have more Thorchain chain halt DoS vulns. We intend to release them (open disclosure) in the coming few days

[Novaswap @Novaswap]

Another day, another bridge hack 😢

Stay safe, use Novaswap

[Lunarlon ✧ @lunarlon339]

I’ve used v2 of @Novaswap built on @_mynth_ and the web account from where you can receive and withdraw stables instantly is an amazing feature. People should know about it more. Try it

[Novaswap @Novaswap]

@0xNairolf The demand for cross-chain swaps is real

[Novaswap @Novaswap]

@donofbase @base Swap any stablecoin to/from Base via Novaswap

[Novaswap @Novaswap]

@tehMoonwalkeR the industry has come a long way 💯 We also have gasless transfers across chains

[Novaswap @Novaswap]

@cangg_l @RiverdotInc @River4fun Keeping watch for sure

[Novaswap @Novaswap]

@DonWedge Good thing we support both USDT and USDC

[Novaswap @Novaswap]

@stable_summit Looks like a great panel

[Novaswap @Novaswap]

@sirajmsy @injective Great to see. CCTP is a major boost for interoperability

[Novaswap @Novaswap]

@CXDquanac TRON remains one of our most popular stablecoin destinations chosen by users

[Novaswap @Novaswap]

@OneClickRun Absolutely! That's why we've been offering gasless cross-chain stablecoin swaps

[Novaswap @Novaswap]

@BenFen_Official Definitely stablecoins need better rails. That's what we work on everyday

[Novaswap @Novaswap]

@Wonda0xwins @endl_io Reliable off-ramps is definitely a big challenge. For the bridging, we're reduced the risk and cost as much as possible

[Novaswap @Novaswap]

@SimkinStepan @Stablecoin Good to see more cross-chain options

[Novaswap @Novaswap]

@Nick_Researcher @arc @Stable @Plasma No matter who wins, we integrate with them all

[Novaswap @Novaswap]

@SuiNetwork Amazing 💪 Going to be a great addition to our Sui stablecoin swaps

[Novaswap @Novaswap]

If you need USDCx, Novaswap has you covered 😎

[Gunther Strube @bits4fun]

@0xStableFlow @NEARProtocol @near_intents @proximityfi @USDT0_to @ilblackdragon Where is Cardano and USDCx?
You said any chain...

[Novaswap @Novaswap]

@CalebSol We facilitate seamless cross-chain transfers in a matter of seconds