PACT SWAP now supports swaps across Dogecoin and Polygon without using wrapped assets or bridges. The two blockchains are the latest addition to its range of supported assets.
Summary
- PACT SWAP adds support to Polygon and Dogecoin, enabling native permissionless swaps through the decentralized exchange.
- The protocol aims to grant customers lower fees and easier swapping between blockchains, even those that are usually incompatible.
In a press release sent to crypto.news, the cross-chain decentralized exchange PACT SWAP now enables native permissionless swaps across the Dogecoin and Polygon blockchain. Starting September 18, swaps on the cross-chain DEX can be made without the need for wrapped assets, bridges, or external validator sets.
Including the two new additions, the exchange now supports swaps across seven networks, such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Polygon (POL), and more.
Co-Founder of Polygon, Sandeep Nailwal, said that the cross-chain liquidity is a vital element for unlocking mainstream crypto adoption. The support enables users to swap between assets easily on the platform.
“By enabling native swaps without wrapped assets or bridges, PACT SWAP is removing one of the biggest pain points for users’ complexity and risk, while opening up Polygon’s ecosystem to a wider range of liquidity and use cases,” said Nailwal in his statement.
Echoing Nailwal’s sentiment, CEO and Founder of DogeOS and MyDoge, Jordan Jefferson, said that the more native support there is for the DOGE token the less friction and complexity there is for users who are coming into the network.
“More pathways into Dogecoin mean more liquidity, more transactions, and more chances for people to use DOGE the way it was designed: fast, simple, and accessible,” said Jefferson.
How does PACT SWAP work?
PACT SWAP is a decentralized cross-chain protocol that aims to give users the same ease and pricing that is on par with centralized exchanges, but without giving up the security and transparency of DeFi.
Built on Coinweb’s smart contract system, PACT SWAP allows trades to happen directly between different blockchains. The protocol coordinates native asset execution across incompatible chains, while keeping fees low and maintaining fast execution.
According to the press release, the system aims to lower fees by 95% across legacy cross-chain approaches for Bitcoin trades.
Every swap on the protocol is 2x overcollateralized and enforced by on-chain logic via the collateralized PACT framework. If one of the parties fails to settle, then the system automatically grants the other side compensation.
Unlike other cross-chain setups that might demand 100x to 1000x in collateral, PACT SWAP claims it can deliver stronger capital efficiency while reducing operational risks.
Co-founder at PACT SWAP Labs, Brock Pierce said that he hopes the addition of Polygon and Dogecoin support on PACT SWAP will open up a path for users and builders across key ecosystems, while maintaining DeFi-native security guarantees.
“True cross-chain without bridges is a leap ahead for crypto market structure,” said Pierce.