Decentralized stable currency flash swap tool BlackHoleSwap releases Alpha beta, supports DAI and USDC swaps

The decentralized stable currency flash swap tool BlackHoleSwap launched by Hakka Finance has launched the product Alpha beta, which is currently open to users for testing. According to the BlackHoleSwap product website, this version is an Alpha version and has not yet launched a liquidity mining mechanism. Currently, it only supports the swap function of two stable currencies, DAI and USDC, and more stable currencies will be added in the future. At the same time, BlackHoleSwap also reminds users that the product smart contract has not yet been audited and risks need to be controlled. Chain Wen previously reported that AMM-based BlackHoleSwap deposits reserve currencies into the lending platform. When the inventory of one of the currencies in the trading pair is exhausted and there is still demand in the market, BlackHoleSwap will use another currency as collateral. The lending platform lends the required currency to complete the transaction, which has the characteristics of low slippage, nearly unlimited liquidity and extremely high capital utilization. The founder of Hakka Finance is Ethereum developer Chen Pin and the founder of Ethereum smart contract and decentralized application developer Pelith.