Fluid Tokens, a Swiss-based company known for its innovative DeFi solutions, has unveiled new features to its decentralized exchange (DEX) for Bitcoin assets, including Runes-to-Runes trading pairs. This development focuses on UTXO blockchains like Bitcoin and Cardano, offering a broad range of financial services that allow users to leverage their assets securely and transparently.
Fluid Tokens has previously launched the first permissionless lending platform for Bitcoin NFTs, Ordinals, demonstrating their expertise in UTXO-based systems. The company's latest offering, the Bitcoin Smart DEX for Runes, aims to facilitate the trading and liquidity of Runes, a digital asset increasingly popular within the crypto community. By streamlining token creation and ensuring compatibility with Bitcoin's security infrastructure, Runes unlock new possibilities for enhancing the utility and reach of the Bitcoin network.
The significance of this development cannot be understated. Fluid Tokens is pioneering a community-centric, innovation-driven platform that prioritizes user experience and allows everyone to be an active member. As the protocols are non-custodial, any user can be both a liquidity provider and a borrower, simplifying the web3 user experience and onboarding non-crypto users.
Since their launch, Runes have constituted 68% of all Bitcoin transactions, amounting to 2.38 million Runes. In its first week, Runes generated over $135 million or 2129 BTC in transaction fees. On April 23, Runes hit a record with over 750,000 transactions. The total market cap for Ordinals and Runes surged to $1.03 billion, with an average daily trading volume of $2.25 million in May. Data from Unisat reveals that over 11000 Runes have been minted to date.
Fluid Tokens' DEX boasts several key features:
Fully Decentralized: It is the first 100% permissionless lending protocol supporting Runes and Ordinals, along with all major BTC wallets. Unlike many other Bitcoin exchanges, Fluid DEX does not hold custodial Runes or BTC funds.
Trading Features:
Runes Trading Pairs, Ordinals Trading: Users can swap not only Bitcoin (BTC) for Runes but also Runes for Runes, a first in the industry. This allows for more precise trading without bulk trades.
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EASY & PRO Trading Modes
Orderbook DEX: Employing an order book model, it is optimized for UTXO chains. This approach is beneficial for liquidity providers as it avoids impermanent loss, which is common in Automated Market Makers (AMMs).
No Front-Running/Anti-Snipers: As a peer-to-peer DEX, Fluid Tokens ensures that all users have a fair trading experience without the risk of front-running, a prevalent issue in decentralized blockchain systems.
Rune lending will soon be live, establishing Fluid Tokens as the DeFi hub for all rune owners. According to Matteo Coppola, Fluid Tokens CEO, as the Bitcoin ecosystem evolves, user sophistication in liquidity and financial operations will grow. Fluid Tokens aims to bridge the gap between traditional finance and the burgeoning world of DeFi, leading the charge toward a more inclusive, accessible, and fair financial future.
