Before Binance added the fiat trading feature in Vietnamese Dong for users, perhaps the name Remitano was the only gateway for people to convert from Vietnamese Dong to other cryptocurrencies and vice versa.
In order not to be left behind compared to other major exchanges, Remitano also started building its own blockchain. And today, let’s learn about one of the pieces in the ecosystem of the Remitano exchange, NemoSwap.
To better understand NemoSwap, people can refer to some of the articles below:
- What is DEX? The Role Of DEX In DeFi
- What is Uniswap (UNI)? Uniswap Cryptocurrency Overview
What is NemoSwap?
Overview of NemoSwap
NemoSwap is an exchange for tokens in the Renec Blockchain ecosystem (Renec Blockchain is the blockchain of the Remitano exchange).
Mechanism of action of NemoSwap
NemoSwap is a typical AMM like Uniswap, Sushiswap, Trader Joe,… The project allows people to swap tokens quickly and cheaply. Currently, Renec Foundation will pay a gas fee of 0.000005 RENEC (RENEC is a native token in the Renec Blockchain) when you make a swap transaction on NemoSwap. In addition, users can also participate in providing liquidity to trading pools to receive transaction fees. The tokens traded on Nemoswap are mainly Wrapped tokens such as reETH, reBTC, reVND, reUSD and some other tokens.
Currently, the project has launched a beta version, including the following features:
- Convert back and forth between RENEC and reUSD
- Buying RENEC with reUSD has no gas fees and extremely low transaction fees of only 0.01%.
- Chat tool support with support
The NemoSwap difference
When Remitano wants to transform into a Blockchain ecosystem, they will definitely have to build a separate AMM to complete their puzzle. Taking advantage of a large and long-standing user base, Remitano wants to gain a large market share in the Vietnamese market.
Previously, Remitano only supported a number of cryptocurrencies with large capitalization such as BTC, ETH, BNB,…, but user needs are not limited to that. They want to buy a lot of other currencies on the market, and maintain their own personal wallets, so in order to retain users, Remitano must build a decentralized exchange. That is NemoSwap, it works to provide privacy and liquidity for different types of tokens for everyone, you can freely buy and sell without joining other exchanges. I think this is the reason for the birth and difference of NemoSwap compared to other AMMs.
Development Roadmap
Recently, the project launched a feature that allows people to sell reVND to VND and transfer it to their bank account easily.
Core Team
Update…
Investors
Update…
Tokenomics
NemoSwap does not have its own token, you will pay transaction fees on NemoSwap with RENEC tokens (main token of Renec Blockchain).
Information Channel of NemoSwap Project
- Website: https://nemo.renec.org/
- Twitter: https://twitter.com/NemoSwapDEX
- Discord: https://discord.gg/JNvaFP5QCz
- Reddit:https://www.reddit.com/r/renecblockchain/
summary
NemoSwap is not a new project, but quite special. This is the only AMM in the Renec Blockchain ecosystem. Taking advantage of Remitano’s large and loyal user base, this will be a huge resource for the development of the current ecosystem.