The technology race between Layer 2 is becoming increasingly strong, and the expansion of the ecosystem is also a core factor. Mantle is a Layer 2 project that is very actively participating in this race, they strongly support projects built on their ecosystem.
They recently made a strategic investment in the Butter Exchange project, so let’s find out what the project is like in this article.
Butter Exchange Overview
What is Butter Exchange?
Butter Exchange is a decentralized exchange on the Mantle Network ecosystem, allowing trading of MNT tokens and other tokens easily and conveniently.
Butter Exchange has two main products: Butter swap and Butter Perp.
Butter Swap is the first product and is also the only active product of the project. Features:
- Low Cost: The project leverages Mantle’s layer 2 scaling solution to significantly reduce transaction fees.
- High liquidity: The project is designed to ensure highly liquid transactions. Therefore, you can make large transactions without worrying about price slippage.
- Reliable and secure: Because it is built on Ethereum, the project enjoys the security of Ethereum
- User-friendly interface: Butter swap makes your trading experience simpler and easier than ever with its simple, user-friendly interface.
The second product of the project is Butter Perphowever, it is currently in the testing process and has not been released yet.
Mechanism of action
Similar to other AMMs, Butter swap allows anyone to provide liquidity, creating trading pools for new tokens.
During the testnet phase, the project confirmed the airdrop for 3,524 early users of the project. Currently, the project is also implementing a program to participate in transactions to receive Points, most likely this is the criteria to receive airdrops later.
Development Roadmap
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Core Team
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Investors
- The project was invested in $4.6 million in Seed round from Mantle Network.
Tokenomics
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Exchanges
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Project Information Channel
- Website: https://butter.xyz/
- Twitter: https://twitter.com/butterexchange
- Discord:
Summary
It can be said that with strong support from Mantle, Butter Exchange will have many opportunities to become the number 1 exchange on Layer 2 Mantle. If you are interested in the project, please follow me to update the latest information.
