Fantom Network is now supported by D’CENT Wallet’s SWAP Service

In its recent Twitter announcement, D’CENT Wallet revealed that its built-in SWAP Service, powered by 1inch, just added support for Fantom Network. As a result, D’CENT wallet users will be able to swap any of the Fantom-based tokens with other cryptocurrencies supported by the wallet.

🔥D'CENT x Fantom x 1inch🔥#Fantom Network is now supported in D'CENT Wallet's built-in SWAP Service powered by #1inch!

Enjoy swapping between thousands of Fantom (FTM-ERC20) tokens directly within #dcentwallet. @FantomFDN @1inch @jbalxyz @neild4https://t.co/P5qpJ1TQcG

— D'CENT Wallet (@DCENTWALLETS) July 25, 2022

The project spoke more about the integration and new possibilities in its Medium post, noting that there will be thousands of supported tokens that run on Fantom, and which can now be swapped for one another directly in the D’CENT Wallet.

Why Fantom?

Fantom Network, or simply Fantom, is a Directed Acyclic Graph (DAG) smart contract platform that offers DeFi services to developers through its own consensus algorithm. The project also features its native cryptocurrency, the FTM token, and together they aim to solve some of the major problems associated with the crypto industry and smart contracts, such as transaction speed.

As a result, Fantom has grown to be known as a high-performance, EVM-compatible L1 blockchain that was specially designed for scalability, which is correct. Its mainnet, known as Fantom Opera, was created to support high transaction speeds, low costs, and impressive throughput. However, Fantom also did not sacrifice security or other important aspects to achieve this, instead becoming an ideal network for deploying dApps, DeFi protocols, metaverse projects, GameFi protocols, Non-Fungible Tokens, and more.

As for D’CENT Wallet, it features its own built-in SWAP Service that is powered by 3rd party service provider, 1inch Network. 1inch is itself quite well-known in the crypto industry, and now, with the addition of Fantom Network, this will be the 4th blockchain that the system will support.

How does this help?

The obvious benefit of the system concerns the users, which will now be able to swap any token of the supported blockchains with any other token on those blockchains, all within a single wallet app. This means that there is no longer the need to go to exchanges to swap these cryptos — it can all be done in a very user-friendly D’CENT App, which provides the customized UI/UX to accessing a larger base of token liquidity on the Fantom Network.

The project’s user interface and user experience will provide streamlined service flow, and offer maximum transparency of all transaction details that take place throughout the swap process.

As mentioned, the system currently supports only four blockchains. However, all four chains are major ones, with very rich ecosystems that continue to grow on a daily basis. Those include Polygon, BNB Chain, Arbitrum, and now Fantom. However, this is hardly the end, and additional chains will be added through future upgrades.

This and the following moves of this kind represent crucial steps towards achieving interoperability, and are helping when it comes to the creation of the base for the future Web3.

To learn more visit our Investing in Fantom guide.