Hybrid Bank Cash (HBC) & EasySwap: Driving Utility with Cryptocurrency Lending and DeFi Swapping
Bitcoin’s launch initiated a disruptive movement in the financial sector, which Ethereum has strengthened further. Presently, Decentralized Finance or DeFi is emerging as a major use-case of blockchain technology. Leveraging shared ledgers, smart contracts, and open-access networks, DeFi enables fully-functional financial systems that eliminate the need for third-party intermediaries.
As a whole, the DeFi movement caters to every aspect of finance, including buying, selling, lending, borrowing, staking, and so on. Moreover, with decentralized applications (dApps) as their building blocks, DeFi platforms are permissionless, trustless, and secured ecosystems.
Among the several innovations that are making DeFi possible, swapping protocols are extremely crucial. Swaps are a practical way of enhancing the interoperability of blockchain ecosystems, thus boosting adoptions and enhancing their relevance.
What is a Cryptocurrency Swap?
In simple terms, a cryptocurrency swap is the process of exchanging one token for another, say ETH with HBC. To understand better, imagine a digital version of the barter system, where an object of value can be directly traded for another. The volume of assets being traded has to be proportional, such that neither ends is at loss.
Similarly, in a cryptocurrency swap, the tokens being swapped have to be equal in terms of their dollar value. For instance, 10 ETH can be swapped only with an equivalent amount of HBC, depending on the current market value.
At present, most existing swapping mechanisms leverage some form of Automated Market Maker (AMM) protocols. These are smart contracts that automatically determine the swap’s ratio, based on factors like demand, supply, liquidity, and so on. In doing so, swaps are a major step forward in decentralized asset exchange, without third-party support.
EasySwap — The BitForex DeFi Zone
As decentralized exchanges (DEX) and swapping protocols are becoming increasingly popular among blockchain-cryptocurrency enthusiasts, the space is witnessing significantly greater adoptions. So much so, that leading cryptocurrency exchanges are devoting substantial attention to DeFi and are contributing to the ongoing movement.
In this regard, EasySwap — as a part of the BitForex DeFi wing — is bringing the reliability of this renowned exchange into cryptocurrency swapping. The platform’s hybrid, semi-decentralized swapping protocol offers a professional and easy-to-use method of swapping your tokens, while enjoying zero gas fees, instant matching, and low slippage.
True to the fundamental principles of DeFi, EasySwap is permissionless, while its fully on-chain trading structure is auditable through Etherscan. Although the platform presently supports only ERC20-based swaps, it’s high yielding reward mechanisms are an added bonus for liquidity miners and yield farmers.
Swapping the Hybrid Bank Cash (HBC) Token on EasySwap
Hybrid Bank is a disruptive name in the cryptocurrency lending sector, offering end-to-end turnkey financial services for exchanges, miners, and individual users. Backed by its diverse and innovative portfolio that ensure competitive interest rates and dynamic Loan-to-Value ratio, this DeFi platform is driving substantial value for its token holders,
Hybrid Bank Cash (HBC) is the platform’s native ERC20 utility token, which can now be swapped on the EasySwap platform. The process is simple:
- Visit EasySwap, register, and connect your wallet.
- Click the ‘Trade on EasySwap’ button.
- Select the ‘HBC’ token from the list.
- Enter the amount of ETH that you want to swap.
- Click on the ‘Supply’ button and confirm the transaction from your wallet. Done!
Hybrid Bank prioritizes user incentivization and offers high yields to its liquidity providers, as does the EasySwap platform. In collaboration, the two DeFi platforms are opening unprecedented avenues in their contributions to the movement towards better finance. To join in, swap HBC on EasySwap today.