biconomyIndustry

Biconomy launches Forward Swap – a DEX that accepts gas fees in stablecoins

Decentralized technology is on a path of revolution — from traditional exchanges to decentralized exchanges, with the aim of facilitating a more convenient and secure trading space. Although the centralized exchanges conduct trade off-chain, it is necessary you know that despite the development occurring in the trading space, most of their existing challenges, especially the “high cost of transaction” are yet to be resolved. However, a new blockchain project ‘Biconomy’ is offering an attractive alternative to resolving this present-day issue. 
Biconomy, a multichain transaction platform that empowers Dapps to provide a simplified onboarding and transaction experience for their Web3 projects, has recently launched Forward Swap. The decentralized exchange sources its liquidity from Uniswap but provides the option to pay gas in a variety of stablecoins. This vastly improves the user experience for both crypto newbies & seasoned traders. 
With it, new DeFi users can swiftly onboard and swap tokens without having to buy & own ETH.  The necessity to own ETH to pay gas can be a bottleneck for new users. But the biggest issue is that spending ETH as gas is a lost investment. If you spent 100$ ETH as gas between Jan-May 2020, the same amount is now worth 800$–1000$! So you just burnt away 700–900$ in investments. What should have cost you 100$, ended up costing you 1000$. That’s like buying groceries with Tesla Stocks. Not only did you lose your gains as the stock rallied, but the pack of milk you bought also ended up costing you twice as much. 
Moreso, with Forward Swap, …
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